I think as far as oil goes, the big boys have programmed certain things because they just work and work and work and work and seem to account for all sorts of contextual scenarios. After all this time, I've identified a slew of it and as you correctly stated, we are the algos!
yes... and sometimes it is better crude oil versus ES or stocks day-trading and all else: once you go black, you'll never go back
ES is ridiculous lately, I agree. Myself I trade Euro for a few years already, usually it's fine but of course nowhere near the CL speaking of intraday volatility. What especially amazes me is that once direction is chosen CL moves often 100+ ticks literally one way without any pullbacks. Very unusual to see this.
It's always good, but not always that good You do have to learn to identify potential chop/range and adjust your trading style accordingly, but I think that's a lot easier to do in oil than in the stock index futures. CL trades pretty much like 6E, but with more directional swings per day.
Yea, I also heard Euro traders often watch oil as an intermarket indicator. Technically have the same impression so far: pretty much similar to 6E but much higher amplitude of swings.
Really, a couple of such moves a month (and I guess they are much more frequent in CL) and no need to trade the rest of time, ha... Will watch it (first hours of trading at least due to my timezone) and maybe do some paper trading to get a better feel.
Perhaps ms doji could share with the surf report readers an example or two of the algo like repeatable patterns in the oil contract? I am feeling expansive and in a reconciliatory mood between the true believers and the price driver anti TA contingent. I am extending an olive branch of dialog so that we all may enter a spirit of cooperation. Clearly my trading has been abysmal recently--- Thank you. Surf