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  • #821
  • May 1, 2019 3:08pm May 1, 2019 3:08pm
Quoting valter
{quote} for me wti it is much more difficult to trade compared to eurusd not only today, I mean in general
Oil can be a bitch to trade especially when it's choppy or ranging. I mostly trade the 1M chart when trending or near major resistance on 1H and 4H charts.

This thread is becoming more active i hope we can help each other and make some pips in the process by posting charts, giving feedback etc.

Carry on!
persistence and determination alone are omnipotent
  • #822
  • May 1, 2019 4:05pm May 1, 2019 4:05pm
Quoting Ll1979
{quote} Oil can be a bitch to trade especially when it's choppy or ranging. I mostly trade the 1M chart when trending or near major resistance on 1H and 4H charts. This thread is becoming more active i hope we can help each other and make some pips in the process by posting charts, giving feedback etc. Carry on!
Sorry but I felt I was a little overenthusiastic so stopped posting charts, onetime I think I had a full page, hence deletion of them, it's all or nothing with me, I do apologise for this, think I have a obsessive compulsive when I am passionate about something.
I don't need to be good at the game, only good enough to beat my opponent,
  • #823
  • May 1, 2019 4:36pm May 1, 2019 4:36pm
Quoting riclater211
{quote} Hey All, Good Monday Afternoon, After Fridays Trade close and the break of my Trend Line, I see that today was just a small bounce. It looks a lot like a indecision candle. I am looking for re-entry in the colored zones. Current sentiment is mixed. I would actually prefer a correction down to 60.00 but I doubt it. Price is playing in the 50% fib area from the June 2014 High of the 115.00 area. I am looking to re-establish a trend line but as you know that takes time and confirmation. - Ric {image}
Hey All,

So 1st day of the month showed little improvement to Brent . Price has been dancing on my trend line but it did not move passed yesterdays high. Which is fine by me. I am hoping to see price climb up the trend line to my trade zone(GREEN BOX). I would actually prefer a 50% retrace from Decembers low which would get us down to 62.00. However, I still believe we will see 77.00 - 80.00 until summer is over. If price does not reach those levels by end of August or mid September, I think price will either come down or range. Of course it is all News dependent. One tweet from Trump can crap all over my carefully planned analysis .
Attached Image (click to enlarge)
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Be humble or get humbled
  • #824
  • May 1, 2019 4:52pm May 1, 2019 4:52pm
The ~24 point advance from Dec has not had a significant correction. An 8-12 point correction is possible, depending on geopolitical happenings.

Today was mostly sideways volatile, but the median line could cross through EMA20 and a downtrend line (red) even without a news event to drive it. If so, a near-term advance to 65+ is possible. Otherwise, a retest of ~62.4 could happen.

It's good to see activity in this thread picking up.
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  • #825
  • May 1, 2019 11:41pm May 1, 2019 11:41pm
Quoting detector
{quote} Sorry but I felt I was a little overenthusiastic so stopped posting charts, onetime I think I had a full page, hence deletion of them, it's all or nothing with me, I do apologise for this, think I have a obsessive compulsive when I am passionate about something.
No need to say sorry over here keep posting
persistence and determination alone are omnipotent
  • #826
  • May 2, 2019 12:39am May 2, 2019 12:39am
Quoting valter
{quote} for me wti it is much more difficult to trade compared to eurusd not only today, I mean in general
Here is a strategy what helped me become more profitable and it's suitable for any trade. The only thing what matters is how long do you wanna hold your position minutes, hours ,days .. etc etc.

For example my trading windows is several hours

  1. look @ H4 draw support, resistance and trend lines
  2. Look @ H1 drawsupport, resistance and trend lines
  3. Look @ a lower timeframe (1M for example) and see how price reacts near support, resistance and trend lines


Let's pratice with WTI

notice support/resistance on several levels:

  1. 63.4 area
  2. fib 61.8 @ 63,7x
  3. 63.8x area


Hope this helps you can win them all but with money management you can make the best out of it.

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persistence and determination alone are omnipotent
  • #827
  • May 2, 2019 1:06am May 2, 2019 1:06am
Quoting valter
{quote} got in but way too late I'm long from 63.31
out SL hit @63.26
  • #828
  • May 2, 2019 1:29am May 2, 2019 1:29am
Quoting Ll1979
{quote} Here is a strategy what helped me become more profitable and it's suitable for any trade. The only thing what matters is how long do you wanna hold your position minutes, hours ,days .. etc etc. For example my trading windows is several hours look @ H4 draw support, resistance and trend lines Look @ H1 drawsupport, resistance and trend lines Look @ a lower timeframe (1M for example) and see how price reacts near support, resistance and trend lines Let's pratice with WTI notice support/resistance on several levels: 63.4 area fib 61.8 @ 63,7x...
I was profitable on wti only trading based on M1 chart
Since I switched to higher TF to try swing trading things got worst
  • #829
  • May 2, 2019 3:03am May 2, 2019 3:03am
Quoting valter
{quote} I was profitable on wti only trading based on M1 chart Since I switched to higher TF to try swing trading things got worst
Stick to what works for you. Don't worry about others systems, stick to you own. As Bruce Lee said:

"I fear not the man who has practiced 10,000 kicks once, but I fear the man who has practiced one kick 10,000 times"

Wattching/waiting for WTI. In the meantime I've shorted EU at DPP.

*edit - taken 50% at +10 - SL set @BE
Focus.
  • #830
  • May 2, 2019 3:40am May 2, 2019 3:40am
Quoting Marco-Kanto
{quote} Stick to what works for you. Don't worry about others systems, stick to you own. As Bruce Lee said: "I fear not the man who has practiced 10,000 kicks once, but I fear the man who has practiced one kick 10,000 times" Wattching/waiting for WTI. In the meantime I've shorted EU at DPP. *edit - taken 50% at +10 - SL set @BE
you are right about to stick to what works for me but I tried to move to swing to spend less hours in front of the screens
scalping M1 is extremely time consuming
  • #831
  • May 2, 2019 5:40am May 2, 2019 5:40am
WTI drops back to $ 62.70 amid record high US output

  1. Dragged down by swelling US inventories, record high US production.
  2. Subdued greenback, OPEC headlines do little to support oil.
  3. Focus shifts to US factory orders for fresh directives.

WTI (futures on Comex) broke its Asian consolidation phase to the downside and hit fresh three-day lows at 62.72 in the European session. At the press time, the black gold is seen making some tepid recovery attempts to regain the 63 handle.

The barrel of WTI came under renewed selling pressure, as the European traders reacted negatively to the latest US EIA reports that showed the US production levels hit record high, which in turn led to the bid build up in the US crude stockpiles.

As Reuters reports, “U.S. crude stockpiles last week rose to their highest since September 2017, jumping by 9.9 million barrels to 470.6 barrels, as production set a record high of 12.3 million barrels per day (bpd), while refining rates fell.”

However, the buyers lurk at the lower levels, as they continue to find some support from the US sanctions on Iran’s oil exports, as the sanctions waiver expire while the ongoing political upheaval in Venezuela also add to the supply risks and intensify the expectations of tighter global markets.

Further markets also digest the latest reports, citing that Russia cut its April output by 223k barrel per day (bpd). Separately, the OPEC Chief Barkindo was reported, as saying that its impossible to eliminate Iranian oil from the market.

The immediate focus now remains on the US factory orders data due at 1400 GMT for fresh dollar trades that may eventually impact the USD-sensitive oil.

persistence and determination alone are omnipotent
  • #832
  • May 2, 2019 6:10am May 2, 2019 6:10am
Quoting valter
{quote} you are right about to stick to what works for me but I tried to move to swing to spend less hours in front of the screens scalping M1 is extremely time consuming
Making money is never easy my friend!

This will probably bite me on the ass but I've taken a long at 62.82. SL-20. Target: DPP 63.37
Focus.
  • #833
  • May 2, 2019 6:17am May 2, 2019 6:17am
Quoting Marco-Kanto
{quote} Making money is never easy my friend! This will probably bite me on the ass but I've taken a long at 62.82. SL-20. Target: DPP 63.37

Still waiting for some confirmation but the slope on my 1M chart is chainging sideway as soon as goes upwards i'll join you.
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persistence and determination alone are omnipotent
  • #834
  • May 2, 2019 6:21am May 2, 2019 6:21am
Quoting Ll1979
{quote} Still waiting for some confirmation but the slope on my 1M chart is chainging sideway as soon as goes upwards i'll join you. {image}
Failure to convincingly push past DS1 is my reasoning for the trade. I must try to explain my reasoning better. "Long at XX.XX" doesn't help anyone.
Focus.
  • #835
  • May 2, 2019 6:25am May 2, 2019 6:25am
Quoting Marco-Kanto
{quote} Failure to convincingly push past DS1 is my reasoning for the trade. I must try to explain my reasoning better. "Long at XX.XX" doesn't help anyone.
My reason for entering just plain and simple s&r then scale to 1M chart and look for a change in slope. For now i stay on sideline don 't trust this atm
persistence and determination alone are omnipotent
  • #836
  • May 2, 2019 6:43am May 2, 2019 6:43am
Quoting Ll1979
{quote} My reason for entering just plain and simple s&r then scale to 1M chart and look for a change in slope. For now i stay on sideline don 't trust this atm
The second mouse gets the cheese. Out for a loss.
Focus.
  • #837
  • May 2, 2019 6:47am May 2, 2019 6:47am
Quoting Marco-Kanto
{quote} The second mouse gets the cheese. Out for a loss.
to bad you'll get the next one!

Was doubting to take an aggressive trade on H1 but didn't
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persistence and determination alone are omnipotent
  • #838
  • May 2, 2019 7:56am May 2, 2019 7:56am
Currently , Oil is looking weak on a weekly chart. We may see a slight bump up , but , oil looks like it will be heading down to me.

Regards ,
GE
"Define the risk OUT of your trade"--Mark Douglas
  • #839
  • May 2, 2019 8:01am May 2, 2019 8:01am
Quoting Ll1979
{quote} to bad you'll get the next one! Was doubting to take an aggressive trade on H1 but didn't {image}
It's sitting on the edge. It'll go up or it'll go down. A bounce from here we could see 64.35 again, a break below could start a sell off to the 23.6 fib of swing 42.14-66.5 (60.78)
Focus.
  • #840
  • May 2, 2019 8:09am May 2, 2019 8:09am
https://m.uk.investing.com/analysis/...eats-200207763

Something for fans of opinion.
Focus.
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