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WTI Crude Oil Trading

  • #941
  • May 6, 2019 1:45pm May 6, 2019 1:45pm
Quoting Ll1979
{quote} I know the feeling WTI sometimes got those nasty uturns like last friday. It's hard to overcome those fast price swings. I am also reviewing my systeem and evaluating 1 min vs 5 min charts for scalping. Hope you'll adjust your system for maximum profits.
Thanks Ll
I have to work part on MM with an enter downsized that allows me to evaluate the retracement "emotionally free" and also leaves me room to scale in, and part on technics improving my reading of the candlesticks on retracement
  • #942
  • May 6, 2019 1:48pm May 6, 2019 1:48pm
Quoting sponge
I use MT4, Heiken Ashie aint the best but it can help with retracements I use a smoothed version I think I got on FF. I thik it's better on the bigger frames. Here if anyone wants it https://www.forexfactory.com/data:;b...0tLSsNCg0KDQo=...
Thanks sponge,
I will work first on MM and later I will try also the Heiken Ashi
  • #943
  • Edited 4:33pm May 6, 2019 4:22pm | Edited 4:33pm
The sharp reversal up crossed EMA20 and a downtrend line (red) near 62.10. Getting to ~64 would not be difficult if this move continues.
Attached Image (click to enlarge)
Click to Enlarge Name: wti_h4_20190506.jpg Size: 106 KB
  • #944
  • May 6, 2019 5:38pm May 6, 2019 5:38pm
Quoting riclater211
{quote} Hey All, Not much to say for this end of week. Price bounced off the trend line. We shall see if I get a price break to the down side or not week. I actually prefer it. Have A Great Weekend. - Ric {image}
Hey All,

Price spiked right into my trade zone today. However, price did not close inside trade zone so no go for me. Uptrend line re-established a bit to the down side and now runs into trade zone which is a good thing. Major Trend lines ( Now in Red) show price CAN still reach the 77.00 to 80.00 price target but now may take longer to get there. Price can still move through my target to the upside but not before the short term trends (In Blue) push price right smack in the middle of my short trade (Fingers Crossed).

- Ric
Attached Image (click to enlarge)
Click to Enlarge Name: Brent 05062019.png Size: 126 KB
Be humble or get humbled
  • #945
  • Edited 2:08am May 7, 2019 1:57am | Edited 2:08am
Seems to be struggling with weekly pivot around 62.60 see what London open brings, 4 hour still bullish I think

EDIT
Long 62.52 looking at 1 & 4 hr charts. Might be limited upside ..we'll see
All charts/ideas based on UK time zone
  • #946
  • Edited 3:02am May 7, 2019 2:38am | Edited 3:02am
Just opened a sell on a pull back,
EDIT
Target 61.60
EDIT
New target 60.50
EDIT
Just following the bounce off the 2hr trend line, maybe,,,
Attached Image
I don't need to be good at the game, only good enough to beat my opponent,
  • #947
  • May 7, 2019 3:13am May 7, 2019 3:13am
Quoting detector
Just opened a sell on a pull back, EDIT Target 61.60 EDIT New target 60.50 EDIT Just following the bounce off the 2hr trend line, maybe,,, {image}
joined you
wti cfd [email protected] [email protected] [email protected] will evaluate
  • #948
  • May 7, 2019 3:18am May 7, 2019 3:18am
Quoting valter
{quote} joined you wti cfd [email protected] [email protected] [email protected] will evaluate
Here's hoping Valter, sold GU&EU today, targets 1.30970&1.11573 I may be being a little optimistic
I don't need to be good at the game, only good enough to beat my opponent,
  • #949
  • May 7, 2019 3:31am May 7, 2019 3:31am
Quoting detector
{quote} Here's hoping Valter, sold GU&EU today, targets 1.30970&1.11573 I may be being a little optimistic
eurusd I was waiting to open a long around 1.1188 and below 1.1181 I will look for a short
  • #950
  • May 7, 2019 3:43am May 7, 2019 3:43am
Quoting valter
{quote} eurusd I was waiting to open a long around 1.1188 and below 1.1181 I will look for a short
I was long (4hr) but flipped over, only by a whisker was the decision made but good luck (thanks sponge)
I don't need to be good at the game, only good enough to beat my opponent,
  • #951
  • May 7, 2019 3:51am May 7, 2019 3:51am
Quoting valter
{quote} joined you wti cfd [email protected] [email protected] [email protected] will evaluate
scaled in on retracement and scratched the worst on resume
now avg [email protected] wti cfd
  • #952
  • May 7, 2019 3:55am May 7, 2019 3:55am
Quoting detector
{quote} No, I closed with a small profit, (opportunist trade) my main concern is the AU, I'm long and have been for a while, I added on the drop to average out, looks like my plan worked, I'm net net with the positions however there could be a rate cut tonight so will close one position and let the other run, could be at my detriment, the initial trade was taken by my EA, I use this as a guide to take extra positions.
AU worked out well on rate unchanged, didn't it?
  • #953
  • May 7, 2019 4:01am May 7, 2019 4:01am
Quoting valter
{quote} AU worked out well on rate unchanged, doesn't it?
Yeah, wow I was thinking the worst, that said the EA I run has given 98%+ the return back to open price hence the reason for averaging trades, still long though, Lol
I don't need to be good at the game, only good enough to beat my opponent,
  • #954
  • May 7, 2019 4:23am May 7, 2019 4:23am
Quoting valter
{quote} scaled in on retracement and scratched the worst on resume now avg [email protected] wti cfd
I looking for 60.50 as the target, if it hits first target 61.60 I will move SL to BE and run without risk, and should the target of 60.50 be insight, move SL to my first target, that's the plan
I don't need to be good at the game, only good enough to beat my opponent,
  • #955
  • May 7, 2019 4:30am May 7, 2019 4:30am
Quoting detector
{quote} Yeah, wow I was thinking the worst, that said the EA I run has given 98%+ the return back to open price hence the reason for averaging trades, still long though, Lol
NU rate next
I was thinking about a long
But I would like to see a new low before NY close
I see the second leg of a W formation (M&W formations from Steve Mauro)
Do you have any view on it?
  • #956
  • May 7, 2019 4:53am May 7, 2019 4:53am
Dredded news scuppering the plans!!!
Flipped EU, now long
EDIT
Target 1,1300
I don't need to be good at the game, only good enough to beat my opponent,
  • #957
  • May 7, 2019 4:57am May 7, 2019 4:57am
Russia’s Novak: Russia’s oil output and exports are unaffected from contamination issues
7 May 2019, 12:52

Russian Energy Minister Novak is on the wires now, via Reuters, with the key comments found below.
Commission found source of Russian oil contamination.
Expects clean oil to reach UST-Luga port on May 8.
Russia’s oil output and exports are unaffected from contamination issues.
Expects situation to be normalized in second half of May.
His comments come after Reuters cited some sources, as saying that latest tests show organic chloride levels in Russian crude in UST-Luga declines to 60-75 ppm.
The sources added that the Russian oil supplies via Druzhba pipeline to Poland and Germany still suspended, plans to resume flow are still unclear.
persistence and determination alone are omnipotent
  • #958
  • Edited 5:14am May 7, 2019 5:01am | Edited 5:14am
Quoting valter
{quote} scaled in on retracement and scratched the worst on resume now avg [email protected] wti cfd
SL@BE now, cashed 1/4 @61.78
Edit: cashed another 1/4 @61.80
  • #959
  • May 7, 2019 5:26am May 7, 2019 5:26am
Quoting valter
{quote} SL@BE now, cashed 1/4 @61.78 Edit: cashed another 1/4 @61.80
Valter, are you now running @ 0 risk?
I don't need to be good at the game, only good enough to beat my opponent,
  • #960
  • May 7, 2019 5:34am May 7, 2019 5:34am
Quoting detector
{quote} Valter, are you now running @ 0 risk?
I am
Sl@BE
Cashed 1/4 + 1/4
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