voloshin00efim 

I will assume that after studying what relates to fundamental analysis, you will change your goal “But all I want is 30 cents a day”, for example, to 3000 in six months. And you will trade middle or long term. Or, you will look for another trading method.

I try to trade technically, but I try to keep fundamentals in mind for bias. However, I have yet to find a reliable fundamental analysis.

Well, I expect to change my goals over time, yes, as would be natural. If successful at least.
And I'm not sure what you mean, as 30 cents per day (meaning, I catch 30 cents in /CL per day) equals 150 cents 5 days per week, equals 600 cents per month, equals 3600 cents per 6 months

Gah, I am struggling, today two earlier trades in /CL which cancelled out (1 win 1 loss), then lost 26 cents trying to trade the crude oil inventory report, then lost a natty gas short play. Done for the day, down 46 bucks.

kummi90 

I try to trade technically, but I try to keep fundamentals in mind for bias. However, I have yet to find a reliable fundamental analysis. Well, I expect to change my goals over time, yes, as would be natural. If successful at least. And I'm not sure what you mean, as 30 cents per day (meaning, I catch 30 cents in /CL per day) equals 150 cents 5 days per week, equals 600 cents per month, equals 3600 cents per 6 months Gah, I am struggling, today two earlier trades in /CL which cancelled out (1 win 1 loss), then lost 26 cents trying to trade the crude oil inventory report, then lost a natty gas short play. Done for the day, down 46 bucks.

I just meant that you will switch to longer-term trading. Therefore, you will ignore intraday movements. You will have other goals. For example, today, the price fell and rose. But for you it will be like noise.

Does CL have a 'partner' that it generally moves with?

For example, if I trade ES and NQ, I might see ES bounce off some structure (maybe o/n Low) and NQ probably bounces alongside even though its not near any structure.
If I see Buyers moving in both, it gives me confidence that a move may be starting... and I can choose which item to trade, maybe NQ even though its not bouncing from structure.

Maybe CL moves with DXY or something else. I've only recently started watching CL. thx

voloshin00efim 

I just meant that you will switch to longer-term trading. Therefore, you will ignore intraday movements. You will have other goals. For example, today, the price fell and rose. But for you it will be like noise.

Oh I would like that. But I still hope to have some daily scalps on, for a more stable cash-flow. But need to learn it first.

ragic 

Does CL have a 'partner' that it generally moves with? For example, if I trade ES and NQ, I might see ES bounce off some structure (maybe o/n Low) and NQ probably bounces alongside even though its not near any structure. If I see Buyers moving in both, it gives me confidence that a move may be starting... and I can choose which item to trade, maybe NQ even though its not bouncing from structure. Maybe CL moves with DXY or something else. I've only recently started watching CL. thx

Good question, it might be a good strategy to trade when aligned with other underlyings.

It appears CL is heavily correlated with Brent and gasoline futures, mild correlation with cocoa, and a mild negative correlation with Swiss franc.

https://www.mrci.com/special/correl.php

A 72 handle looks like a real possibility in the next couple of weeks for crude. There is a lot of selling in crude every day for the last couple of weeks and the momentum should take the prices to the 72s or lower in my opinion. Crude is a range bound market and seems to move in straight lines from the highs to the lows of the established ranges. The approximate high/low of the price range since February is about $85/72 respectively with current market moving lower.

kummi90 

Good question, it might be a good strategy to trade when aligned with other underlyings. It appears CL is heavily correlated with Brent and gasoline futures, mild correlation with cocoa, and a mild negative correlation with Swiss franc. https://www.mrci.com/special/correl.php

This is simply AMAZING.

And I was actually looking for something to find something similar which gives the correlation between different markets.

E.g. HE futures correlation with other markets.

And I guarantee you - this must have been very hard to produce because of the intense work required.

Thanks again.

blackgrey45 

A 72 handle looks like a real possibility in the next couple of weeks for crude. There is a lot of selling in crude every day for the last couple of weeks and the momentum should take the prices to the 72s or lower in my opinion. Crude is a range bound market and seems to move in straight lines from the highs to the lows of the established ranges. The approximate high/low of the price range since February is about $85/72 respectively with current market moving lower.

I'm slightly bearish until we see CL close over the 8 simple moving average. Hurricane season is coming up, both oil and natty gas should be bullish mid/after August! At least according to seasonality charts, but it depends on temperature (natty gas), and oil demand.

Can you talk more about your approach to trades in Energy market, particularly /CL?
Are you successful trading?

lightsun47 

This is simply AMAZING. And I was actually looking for something to find something similar which gives the correlation between different markets. E.g. HE futures correlation with other markets. And I guarantee you - this must have been very hard to produce because of the intense work required. Thanks again.

Glad it is helpful. I didn't make it of course, but had it favorited for a long time. You think these correlations are useful for entries and exits?

^ I am still trying to figure out the best entry and exit points. So if I find something fruitful, I will definitely DM you.