Statistical R and S LEVELS for ES and CL

Discussion in 'Journals' started by oraclewizard77, Sep 24, 2017.

  1. oraclewizard77

    oraclewizard77 Moderator




    1st S


    2nd S






  2. oraclewizard77

    oraclewizard77 Moderator

    Currently CL is moving sideways to down. We need more PA to determine if this is a trend or not. Reports to look at are Monday for OPEC compliance and Wed for oil well count in USA.
  3. oraclewizard77

    oraclewizard77 Moderator

    This is the report on trading for the week, we will look at main levels again soon and post them.
  4. oraclewizard77

    oraclewizard77 Moderator

  5. oraclewizard77

    oraclewizard77 Moderator

    The above was the weekly trading report using new strategy. As we can see my overall win% has increased. Just need to not over trade or revenge trade. Long trades had a little better win% than short trades since overall both ES and CL trended up this week both intraday and longer term. The new strategy has kept me in the trade longer around 23 min than my old strategy which I believe was just 8 min.

    Risk vs Reward on many trades was equal and some was a little better. While I don't want to over optimize, I am testing to see where I can better select targets and stops. The goal being I don't want a target so far that I will get stopped out before target is hit. For the stop, I want to give the trade room to breath and not get stopped out on noise. I also don't want the stop to be more than the target plus it should be set where the market shows that the trade will not work.
    Last edited: Sep 29, 2017
  6. oraclewizard77

    oraclewizard77 Moderator

    ES levels are the following:

    R 2522.25

    S 2505

    I would look to go long at the support level if the market falls down there on Monday due to upward trending momentum. I think it will hold unless we get some real bad news like nuclear war with N Korea so I would use a stop, but give the trade room to breath since price can spike a little under a level before coming back above.
  7. oraclewizard77

    oraclewizard77 Moderator

    ES Levels:

    R 2585
    S 2570.75


    R 57.14
    S 56.32
  8. jelite


    So support/resistance are 1(2) tick(s) from low/high for CL(ES)? How statistically significant is that? Or do they vary day by day?