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Raleigh NC
Experience: Beginner
Platform: Ninja
Broker: Mirus/ZenFire
Trading: Oil
Posts: 628 since May 2012
Thanks Given: 394
Thanks Received: 518
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I was looking for some different ideas for Range chart set ups.
Currently I trade CL with a 5 min and a 7 range. 14 and 50 SMA. Volume up down. I watch for a trending market on range and confirm it 5 min.
entry is 1 tic beyond the second candle of the same color if the volume is 1 tic higher. stop is 1 tic beyond the first candle. so for a 7 range... the stop would be a max of 17.
Due to the slow action over the past 2 weeks I am playing around with 4 and 6 range.
back testing my system over the last three months has killer results. However the past 2 weeks have been terrible.
I think it is because the ATR has fallen.
Any Who... I was wondering if any of you had any trade set ups you would like to share in regards to trading the Range charts
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