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WTI Crude Oil Trading

  • #521
  • Apr 9, 2019 5:58am Apr 9, 2019 5:58am
Quoting timingchain
opened short @ 64.40, sl @ 64.57
I got mine at 64.34. Fingers crossed for us both.
Focus.
  • #522
  • Apr 9, 2019 6:05am Apr 9, 2019 6:05am
Quoting timingchain
opened short @ 64.40, sl @ 64.57
closed for 15 pips. This was a scalping trade. I don't like the volatility at market opening coming up.

good luck Marco
  • #523
  • Apr 9, 2019 6:09am Apr 9, 2019 6:09am
Quoting timingchain
{quote} closed for 15 pips. This was a scalping trade. I don't like the volatility at market opening coming up. good luck Marco
SL set to BE here. Agree with you on the PA. Libya situ could spill over. Can anyone smell a US invasion...?
Focus.
  • #524
  • Apr 9, 2019 7:18am Apr 9, 2019 7:18am
Quoting timingchain
WTI is heavily bought, but not showing signs of weakness. Possibly building a local top ~64.4. {image}
Can you please explain about your strategy on WTI ?
  • #525
  • Apr 9, 2019 7:45am Apr 9, 2019 7:45am
Back in at 64.21, WR1
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Focus.
  • #526
  • Apr 9, 2019 8:08am Apr 9, 2019 8:08am
WTI reached a strong resistant level which may probably bounce it back to the last daily bottom providing a nice profitable entry for short traders.
Wishing The Best
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  • #527
  • Apr 9, 2019 8:36am Apr 9, 2019 8:36am
Hi guys!
In my opinion don't rush to trade, see what happened under 60.00 line, a 1-week consolidation before the next move.

We have to wait for a "corrective structure" here under 65 too to show us the "next long term" direction.

Of course, we can take many short term trades in this consolidation (Preferably sell) for small profits too, but the real down move / deep pullback depends on the pattern of daily consolidation.

The bigger and the longer the consolidation the faster and longer-term move after

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For another example please check out USDCAD consolidation after a long term uptrend before a major direction change:

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We can't control the sea, but we can learn how to surf the waves.
  • #528
  • Apr 9, 2019 11:11am Apr 9, 2019 11:11am
US EIA CUTS WORLD OIL DEMAND GROWTH FORECAST 2019 BY 50K BPD
9 April 2019, 20:01

US EIA cuts world oil demand growth forecast 2019 by 50K Bpd:

  1. Now Sees 1.40M Bpd yoy increase.
  2. 2020 Forecast cut by 10K Bpd.
  3. Sees 1.45M Bpd yoy increase.
  4. Brent crude oil spot prices averaged $66 per barrel (b) in March, up $2/b from February 2019.
  5. EIA forecasts Brent spot prices will average $65/b in 2019 and $62/b in 2020, compared with an average of $71/b in 2018.
  6. EIA expects that West Texas Intermediate (WTI) crude oil prices will average $8/b lower than Brent prices in the first half of 2019 before the discount gradually falls to $4/b in late-2019 and through 2020.

persistence and determination alone are omnipotent
  • #529
  • Apr 9, 2019 11:57am Apr 9, 2019 11:57am
Quoting vivaldi2
{quote} Can you please explain about your strategy on WTI ?
See my post #447 and a few others going back into January. Green pips!
  • #530
  • Apr 9, 2019 12:00pm Apr 9, 2019 12:00pm
Quoting Marco-Kanto
Back in at 64.21, WR1 {image}
It's the FOCUS! I find that to be the most difficult part of trading.
  • #531
  • Apr 9, 2019 12:48pm Apr 9, 2019 12:48pm
Quoting timingchain
{quote} It's the FOCUS! I find that to be the most difficult part of trading.
I'm not loving that price looks to close above the DPP. We still have time but it looks to do so. Holding this one, will hedge/add higher if needed.
Focus.
  • #532
  • Apr 9, 2019 2:01pm Apr 9, 2019 2:01pm
United States API Weekly Crude Oil Stock up to 4.091M in April 5 from previous 2.963M
persistence and determination alone are omnipotent
  • #533
  • Apr 9, 2019 2:31pm Apr 9, 2019 2:31pm
Quoting Ll1979
United States API Weekly Crude Oil Stock up to 4.091M in April 5 from previous 2.963M
Good news for
Focus.
  • #534
  • Apr 9, 2019 3:15pm Apr 9, 2019 3:15pm
A plunge & recovery for today, with a pause in the uptrend. Lots of geopolitical factors going on.
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  • #535
  • Apr 9, 2019 7:26pm Apr 9, 2019 7:26pm
Quoting darksize
{quote} 65 my friend, and then drop. would sell CAD that moment too. Either against USD or EUR, depends.
So far, looks like a very good call on Mar 30. HoD for 4-9 was 64.79 (April contract).
  • #536
  • Apr 9, 2019 10:35pm Apr 9, 2019 10:35pm
#WTI / Weekly & H4
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  • #537
  • Apr 9, 2019 11:29pm Apr 9, 2019 11:29pm
Quoting timingchain
{quote} So far, looks like a very good call on Mar 30. HoD for 4-9 was 64.79 (April contract).
Well maybe, but the turn is not convincing yet, could be another spike up, anyway, i am holding to my shorts. Even when i think i have jumped a gun there a bit, gotta remember that.
-._.-
  • #538
  • Apr 10, 2019 12:32am Apr 10, 2019 12:32am
Quoting darksize
{quote} Well maybe, but the turn is not convincing yet, could be another spike up, anyway, i am holding to my shorts. Even when i think i have jumped a gun there a bit, gotta remember that.
I also have some shorts - not unreasonable at these levels.
  • #539
  • Apr 10, 2019 1:42am Apr 10, 2019 1:42am
Quoting Marco-Kanto
{quote} Good news for
Hope the price will rise until inventory numbers later today for maximum shortage potential.
persistence and determination alone are omnipotent
  • #540
  • Apr 10, 2019 1:53am Apr 10, 2019 1:53am
Quoting Ll1979
{quote} Hope the price will rise until inventory numbers later today for maximum shortage potential.
A close above WR1 may trigger some buyers. We'll see in about 5 mins.
Focus.
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