Crude came to life today, don't know why and don't care why.
Ok I do care but since I don't know why I just said I didn't care.
I think I may have stumbled onto a nice system for setting targets. If not "nice" then at least one that is rational. Don't have the stats to back that up but I do have a few years of staring at this thing and have earned a bit of a feel for it.
Anyway I am using a percentage the 5 day ATR and then setting the actual target number to the first fib number under that percentage.
Could all be a massive case of recency bias but seems to be working nicely for now.
I only got 2 signals in this massive move up today as the signals stopped due to the EMA spread.
Both hit target and that always makes the "just watching" part of the day a little more relaxing.
2 Minute Crude Oil Chart