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WTI Crude Oil Trading

  • #1,021
  • May 8, 2019 12:57am May 8, 2019 12:57am
United States API Weekly Crude Oil Stock down to 2.806M in May 3 from previous 6.81M
persistence and determination alone are omnipotent
  • #1,022
  • May 8, 2019 1:46am May 8, 2019 1:46am
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 Edit..can't seem to load it up so just do a search on FF for Smoothed Heiken Ashi indicator if you want it {image}
Guys Heiken Ashi put me all wrong on the 4 hour chart yesterday need to be careful if using it

I'm probably not reading it right
Attached Image (click to enlarge)
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All charts/ideas based on UK time zone
  • #1,023
  • May 8, 2019 1:55am May 8, 2019 1:55am
China’s crude oil imports hit monthly record in April - China Customs
8 May 2019, 09:39

The latest trade balance report from the Chinese General Administration of Customs showed on Wednesday that China imported record high oil, in an unexpected move, Reuters reports.
The China Customs noted that the surge in the Chinese oil imports is because the state-run refiners built up stocks of Iranian crude oil anticipating a sanctions clampdown.

Key Details:

Imports last month were 43.73 million tonnes, equal to 10.64 million barrels per day (bpd).

That compared with 9.26 million bpd in March and was up 11 percent from the April 2018 level, according to Reuters calculations.

China, the world’s biggest oil importer, took in 164.9 million tonnes of crude during the first four months of 2019, or about 10.03 million bpd, up 8.9 percent on the same period a year earlier.

China’s Iran crude oil imports rose to 24 million barrels or about 800,000 bpd in April, the highest since August, as buyers rushed in shipments before the U.S. sanctions waiver deadline of early May, Refinitiv data showed.”
persistence and determination alone are omnipotent
  • #1,024
  • May 8, 2019 1:56am May 8, 2019 1:56am
I think it looks bullish today if we stay over 61.87, possible upside target 62.58
All charts/ideas based on UK time zone
  • #1,025
  • May 8, 2019 2:04am May 8, 2019 2:04am
Good day,
I am long wti cfd @61.94, [email protected], [email protected], sl very far away @61.52 to evaluate
It' a scout (small position), I will scale in on retracement
  • #1,026
  • May 8, 2019 2:18am May 8, 2019 2:18am
breaking resistance (62 area) is crucial on multiple timeframes.
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persistence and determination alone are omnipotent
  • #1,027
  • May 8, 2019 2:41am May 8, 2019 2:41am
Quoting sponge
{quote} Guys Heiken Ashi put me all wrong on the 4 hour chart yesterday need to be careful if using it I'm probably not reading it right {image}
Hello sponge,
I know zero about H.A. but maybe H.A. on TF M30 or H1 could follow better the current swing amplitude of Oil
  • #1,028
  • May 8, 2019 3:11am May 8, 2019 3:11am
Quoting valter
{quote} Hello sponge, I know zero about H.A. but maybe H.A. on TF M30 or H1 could follow better the current swing amplitude of Oil
Hi valter, Yes I think you could be right the bigger frames take so long to give direction when the market is going sideways.

Ashi is very similar to MA's lines being far apart indicating the trend as with Ahshi having fuller candles but as the lines come together or the candles become smaller the trend in in question.

Long story short....good for trending markets .
Attached Image (click to enlarge)
Click to Enlarge Name: wtima.PNG Size: 22 KB
All charts/ideas based on UK time zone
  • #1,029
  • May 8, 2019 3:15am May 8, 2019 3:15am
Quoting sponge
{quote} Hi valter, Yes I think you could be right the bigger frames take so long to give direction when the market is going sideways. Ashi is very similar to MA's lines being far apart indicating the trend as with Ahshi having fuller candles but as the lines come together or the candles become smaller the trend in in question. Long story short....good for trending markets . {image}
Most systems got killed in ranging markets. Try to find some additional strategies which suits you the best under these circumstances.
persistence and determination alone are omnipotent
  • #1,030
  • May 8, 2019 3:17am May 8, 2019 3:17am
Quoting valter
Good day, I am long wti cfd @61.94, [email protected], [email protected], sl very far away @61.52 to evaluate It' a scout (small position), I will scale in on retracement
scaled in @61.68

took also a long on [email protected], sl below 1.1202 to evaluate
  • #1,031
  • May 8, 2019 3:24am May 8, 2019 3:24am
61.87 still resisting, this is the volume area for now
All charts/ideas based on UK time zone
  • #1,032
  • May 8, 2019 3:26am May 8, 2019 3:26am
Quoting sponge
{quote} Hi valter, Yes I think you could be right the bigger frames take so long to give direction when the market is going sideways. Ashi is very similar to MA's lines being far apart indicating the trend as with Ahshi having fuller candles but as the lines come together or the candles become smaller the trend in in question. Long story short....good for trending markets . {image}
It depends on what you mean for trend, on which TF ?
Try H.A. on M30 or H1 and maybe yesterday it was ok to take a short
  • #1,033
  • May 8, 2019 3:34am May 8, 2019 3:34am
Quoting valter
{quote} It depends on what you mean for trend, on which TF ? Try H.A. on M30 or H1 and maybe yesterday it was ok to take a short
Yes like I said the bigger frames take longer to give direction.
All charts/ideas based on UK time zone
  • #1,034
  • May 8, 2019 3:34am May 8, 2019 3:34am
Quoting valter
{quote} scaled in @61.68 took also a long on [email protected], sl below 1.1202 to evaluate
wti [email protected]

eurusd still in

Edit: eurusd [email protected]
  • #1,035
  • May 8, 2019 5:39am May 8, 2019 5:39am
Entry on H1 + RSI support
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persistence and determination alone are omnipotent
  • #1,036
  • May 8, 2019 5:53am May 8, 2019 5:53am
Quoting sponge
61.87 still resisting, this is the volume area for now
Exactly at EMA20 on H4. Failed to break above.
  • #1,037
  • May 8, 2019 5:55am May 8, 2019 5:55am
Quoting Ll1979
Entry on H1 + RSI support {image} {image}
I will probably join you in few minutes

Edit: I mean, in few minutes because I have to follow my rules, your entry is very good
  • #1,038
  • May 8, 2019 6:03am May 8, 2019 6:03am
wti cfd [email protected], tp62.25, sl to evaluate below 61.00
  • #1,039
  • May 8, 2019 6:16am May 8, 2019 6:16am
On a 4HR chart , i'm seeing a risk to the downside to 60.07. If the market takes us there , I would feel more comfortable going long from that level , right now "as I speak". I can see why a long entry would be a good move from the current level as well , but , I'm wondering if it's a "trap" at this level.

Regards ,
GE
"Define the risk OUT of your trade"--Mark Douglas
  • #1,040
  • May 8, 2019 6:17am May 8, 2019 6:17am
May contract on H4:

The median failed to break above EMA20 and downtrend line at ~61.87, then fell through uptrend line at ~61.55.

The H4 downtrend from Apr 25 has not been broken.
Attached Image (click to enlarge)
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