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  • #841
  • May 2, 2019 8:12am May 2, 2019 8:12am
Quoting Marco-Kanto
{quote} 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)
Having my eye on H4 for a possible bounce s&r
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persistence and determination alone are omnipotent
  • #842
  • May 2, 2019 8:17am May 2, 2019 8:17am
buy @ 62.029

H4 support, weekly camarilla H3
almost 170 pip drop today
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persistence and determination alone are omnipotent
  • #843
  • May 2, 2019 8:17am May 2, 2019 8:17am
PUNT. Long from DS3. Target DS1.
Focus.
  • #844
  • May 2, 2019 8:49am May 2, 2019 8:49am
Quoting Ll1979
WTI drops back to $ 62.70 amid record high US output Dragged down by swelling US inventories, record high US production. Subdued greenback, OPEC headlines do little to support oil. Focus shifts to US factory orders for fresh directives. ...
Just to add to this narrative, this chart really tells the story of the relationship between WTI and Brent (this dailyFx article explains the differences if you are not aware).

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As of writing this both Brent and WTI are bearish and Brent continues to trade at a continued premium which is in line with the fundamentals we currently have in the Oil market.
  • #845
  • May 2, 2019 10:04am May 2, 2019 10:04am
Only just started looking at oil it's definately good for pips when you get it right but that's the hard bit as usual

Support at weekly S1 ?

Looks like sixers Elliot Wave have played out nicely...ABC
All charts/ideas based on UK time zone
  • #846
  • May 2, 2019 10:08am May 2, 2019 10:08am
Quoting Ll1979
buy @ 62.029 H4 support, weekly camarilla H3 almost 170 pip drop today {image}
out @ 61.344
persistence and determination alone are omnipotent
  • #847
  • May 2, 2019 10:13am May 2, 2019 10:13am
Quoting sponge
Only just started looking at oil it's definately good for pips when you get it right but that's the hard bit as usual Support at weekly S1 ? Looks like sixers Elliot Wave have played out nicely...ABC
Long from WS1
Focus.
  • #848
  • May 2, 2019 10:21am May 2, 2019 10:21am
Quoting Marco-Kanto
{quote} Long from WS1
Jesus. Oil can't find a bid anywhere. Sideline.
Focus.
  • #849
  • May 2, 2019 10:25am May 2, 2019 10:25am
Quoting Marco-Kanto
{quote} Jesus. Oil can't find a bid anywhere. Sideline.
@58.00 maybe ?
  • #850
  • May 2, 2019 10:30am May 2, 2019 10:30am
Volume picking up
All charts/ideas based on UK time zone
  • #851
  • Edited 10:45am May 2, 2019 10:34am | Edited 10:45am
Taken a long @61.35 price has bounced off a slope on the 1hr chart
My last position hit SL but did reduce the position down so all in all a small profit, from hitting 70pips+ I never expected such a fall, the chart however said differently.
EDIT
Hedged long!!
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I don't need to be good at the game, only good enough to beat my opponent,
  • #852
  • May 2, 2019 10:49am May 2, 2019 10:49am
If it takes the 1min arrow out we may see something
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I don't need to be good at the game, only good enough to beat my opponent,
  • #853
  • Edited 11:12am May 2, 2019 11:00am | Edited 11:12am
maybe this time!!!
Entry too early, I must work at this.
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I don't need to be good at the game, only good enough to beat my opponent,
  • #854
  • May 2, 2019 11:03am May 2, 2019 11:03am
Anyone know why Oil has dropped so much today ? I know there was a surplus of Crude in the weekly report this week , but , I would have expected a big drop on Tuesday of this week .

GE
"Define the risk OUT of your trade"--Mark Douglas
  • #855
  • May 2, 2019 11:25am May 2, 2019 11:25am
Quoting GreenEarth
Anyone know why Oil has dropped so much today ? I know there was a surplus of Crude in the weekly report this week , but , I would have expected a big drop on Tuesday of this week . GE
GE, the posters pick up quickly any news out, so possibly in general, as you said the news of late has maybe been digested, another trait LOL is when we start to buy the "in the know brigade" are selling, still think there is buying pressure, the 1hr chart I posted seems to have suck by all the charting rules so hopefully we see a bounce up to 64 if it continues, D
Bye the way some great posts today
I don't need to be good at the game, only good enough to beat my opponent,
  • #856
  • May 2, 2019 11:28am May 2, 2019 11:28am
Anyone in long, if so whats the prediction? D
looking for no mans land between here and 62.90, the fall may not be done yet so tight stoploss under the last resistance, just my opinion, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #857
  • May 2, 2019 11:41am May 2, 2019 11:41am
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.
I'm very guilty of your last statement Marco, sometimes it's knee jerk on my part, try to put as much info as I can for taking a position as quick and early as poss, if it helps great but no advice is ever intended, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #858
  • May 2, 2019 12:03pm May 2, 2019 12:03pm
Quoting detector
Anyone in long, if so whats the prediction? D looking for no mans land between here and 62.90, the fall may not be done yet so tight stoploss under the last resistance, just my opinion, D
I'm long. WTI has strong and proven reaction to the EMA50, it tried to break the Daily EMA50 but I'm quite sure it won't break it.
Daily :
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  • #859
  • May 2, 2019 12:09pm May 2, 2019 12:09pm
Quoting vivaldi2
{quote} I'm long. WTI has strong and proven reaction to the EMA50, it tried to break the Daily EMA50 but I'm quite sure it won't break it. Daily : {image}
Not sure where it would land beyond that LOL, if a rise from 61.20 happens and a new high, we could be back in the game,D
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I don't need to be good at the game, only good enough to beat my opponent,
  • #860
  • May 2, 2019 12:22pm May 2, 2019 12:22pm
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persistence and determination alone are omnipotent
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