WTI Crude Oil Trading | Page 54 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

WTI/USD

Similar Threads

Reliable broker for Crude Oil trading 20 replies

making money intraday CL/WTI/OIL - no overnight holds 13 replies

WTI Crude Oil (TRENDSURFING - with the help of the model) 634 replies

Trading Oil WTI to get back all! 18 replies

Hedge WTI and Brent Oil 1 reply

Attachments: WTI Crude Oil Trading
Exit Attachments

WTI Crude Oil Trading

  • #1,061
  • May 8, 2019 3:37pm May 8, 2019 3:37pm
Quoting riclater211
{quote} 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 {image}
Hey All,

Mid week update. Well, it seems price does not want to close inside my trade box. No close, no short. Price is hovering right there at the edge of 70.00. Bulls do not want to give it up and Bears do not have the strength, but the Bulls grip is fading. There is a lot of downside pressure. Short of some fundamental change, I see price breaking soon.

- Ric
Attached Image (click to enlarge)
Click to Enlarge Name: Brent 05082019.png Size: 159 KB
Be humble or get humbled
  • #1,062
  • May 8, 2019 3:42pm May 8, 2019 3:42pm
Quoting Ll1979
WTI BID, COULD SEE FURTHER UPSIDE IF TRADE TALKS DO NOT COMPLETELY FALL APART, TARGETS $63 HANDLE WTI firmed on Wednesday following a decline in U.S. crude supplies, almost double than what was expected and optimism that a trade deal will be achieved between Beijing and the U.S. buoys the price ahead of high-level talks scheduled later this week. WTI is currently trading at $62.11bbls between a range of $61.0bbls8 and $62.34bbls. While there has been a fair bit of risk-off this week following the weekend Trump tweets and subsequent confirmations...
Li, definite gamble being short, see buying on the dips but the price is falling so with no breakout as yet, 60 is where I think it will rest until the inevitable all out news comes, just my opinion on what the chart is saying to me, also Mr T will not want to encourage higher prices, if his past words were to be believed, so it could be a case of buy the rumour, sell the news, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #1,063
  • May 8, 2019 4:11pm May 8, 2019 4:11pm
2 bars closed above EMA20 on the May H4, but not conclusive for an upside breakout. Also, not certain if the downtrend from Apr 25 has been really broken.
Attached Image (click to enlarge)
Click to Enlarge Name: wti_h4_20190508.jpg Size: 107 KB
  • #1,064
  • May 8, 2019 4:28pm May 8, 2019 4:28pm
Quoting timingchain
2 bars closed above EMA20 on the May H4, but not conclusive for an upside breakout. Also, not certain if the downtrend from Apr 25 has been really broken. {image}
Timing chain, the price has bounced or failed the LWMA several time (on your chart) this is where I'm making my assumption, what the chart is saying vs sentiment, again, just my opinion, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #1,065
  • May 8, 2019 5:25pm May 8, 2019 5:25pm
Quoting detector
{quote} Timing chain, the price has bounced or failed the LWMA several time (on your chart) this is where I'm making my assumption, what the chart is saying vs sentiment, again, just my opinion, D
I think the LWMA does complement EMA20, which is my long-standing 'go to' MA. Over the past few weeks, some spikes crossed LWMA without follow through. I also see this on equities charts. So I use both MAs as dynamic S/R lines.

BTW, WTI daily cash price is below EMA20 but holding above LWMA50. Action at LWMA could give an important indication of direction.
  • #1,066
  • May 9, 2019 1:44am May 9, 2019 1:44am
We didn't challenge 62.58 yesterday but I think it's still on the cards.

I think price is in a volume area at the moment a break of 61.72 could see a retest of 61.53 which could tigger some downside if broken.

EW prediction looks a bit ify below 62.58
All charts/ideas based on UK time zone
  • #1,067
  • May 9, 2019 3:27am May 9, 2019 3:27am
Waiting for the break up or down
Attached Image
persistence and determination alone are omnipotent
  • #1,068
  • May 9, 2019 3:45am May 9, 2019 3:45am
wti cfd [email protected], [email protected], [email protected] will evaluate
  • #1,069
  • May 9, 2019 5:00am May 9, 2019 5:00am
Quoting valter
wti cfd [email protected], [email protected], [email protected] will evaluate
cashed 1/[email protected], now [email protected], sl@be
  • #1,070
  • May 9, 2019 5:08am May 9, 2019 5:08am
Quoting valter
{quote} cashed 1/[email protected], now [email protected], sl@be
what timeframe are your trading?

If 5M chart you could raise your sl to the next support for example. This helps protecting your profits. It could also cap your max profit target but those nasty u-turns will not blow all your profits.
Attached Image
persistence and determination alone are omnipotent
  • #1,071
  • May 9, 2019 5:13am May 9, 2019 5:13am
Quoting Ll1979
{quote} what timeframe are your trading? If 5M chart you could raise your sl to the next support for example. This helps protecting your profits. It could also cap your max profit target but those nasty u-turns will not blow all your profits. {image}
My lower TF is M5 in this trade
Yes your suggestion is right
thanks
I moved it just below last retracement as you pointed in your chart
  • #1,072
  • May 9, 2019 5:51am May 9, 2019 5:51am
Quoting valter
{quote} cashed 1/[email protected], now [email protected], sl@be
cashed 1/[email protected], next 1/[email protected], last 1/4tp open, [email protected]
  • #1,073
  • May 9, 2019 6:30am May 9, 2019 6:30am
Quoting valter
{quote} cashed 1/[email protected], next 1/[email protected], last 1/4tp open, [email protected]
cashed 1/[email protected], last 1/4 out by [email protected] hit
  • #1,074
  • May 9, 2019 6:43am May 9, 2019 6:43am
Quoting valter
{quote} cashed 1/[email protected], last 1/4 out by [email protected] hit
nice 1 champ!
persistence and determination alone are omnipotent
  • #1,075
  • May 9, 2019 7:31am May 9, 2019 7:31am
Quoting Ll1979
{quote} nice 1 champ!
thanks Ll
  • #1,076
  • May 9, 2019 7:33am May 9, 2019 7:33am
[email protected], [email protected], [email protected] will evaluate
wti cfd
  • #1,077
  • May 9, 2019 7:50am May 9, 2019 7:50am
finally my SPX entry turned green hope we got a breakout and close the GAP
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 22 KB
persistence and determination alone are omnipotent
  • #1,078
  • May 9, 2019 8:02am May 9, 2019 8:02am
Quoting valter
[email protected], [email protected], [email protected] will evaluate wti cfd
cashed 1/[email protected], sl@be
  • #1,079
  • May 9, 2019 8:10am May 9, 2019 8:10am
Quoting valter
{quote} cashed 1/[email protected], sl@be
cashed 1/[email protected]
last1/4 tp open
now [email protected]
sl@be+5

edit: [email protected]
flat now
  • #1,080
  • Edited 8:46am May 9, 2019 8:13am | Edited 8:46am
cashed!
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 3 KB
persistence and determination alone are omnipotent
1 trader viewing now