CL Redux

Should have made it clear my TF is 5 min. chart. in ES and prefer to stick with that in CL.

Quote from Swan Noir:

The PA in ES has been terrible leaving few trading opportunities. While I've lurked here from time to time (some good PA traders here) I'm not a CL trader.

I tend to use tight stops in ES (often 6 ticks off what Al Brooks would call an H2 or L2) with a scalp target of 10 ticks leaving a runner. I'm not suggesting H2 & L2A are the way to trade CL but a standard setup like that will give me a benchmark ... a sense of what CL traders tend to use in similar situations (more room for sure and a more aggressive scalp target) and would help as I start to look at CL more seriously.

I've always been impressed with the way you guys seem to help each other with no BS and am hopeful I can get some advice.
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Thanks for your reply but I am seeking advice on CL not ES.

Quote from oilfxpro:

Take a look at es 4 hour , and place lwma 19 on it , if price is above lwma or trendlines look for longs , if price below lwma or down trend lines look for shorts.
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Quote from Swan Noir:

Should have made it clear my TF is 5 min. chart. in ES and prefer to stick with that in CL.
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I am not sure that I am the best person to help you, but here is my observations with regard to scalping CL.

CL routinely takes off with nary a pullback. This makes it hard to find the typical pullback setup. Between about 8:30 and 10:30 am eastern time, CL tends to have momentum swings. I use a .15 (tick) stop, and a .29 (tick) target. After missing out on too many huge moves, I stopped scalping and started swing trading.

Before 8:30 and after about 12:00 p.m. , I tend to look at smaller scalps (.15 target/ .07 stops).

Of course, you will need to backtest your set ups and results.

But if you want good info on CL, go back and read the nodoji and SteveH posts. They totally rock, and their musings have accelerated my learning curve. Good luck.:)
 
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