WTI Crude Oil Trading

Enough of this bearish nonsense ha

Up at the open with initial target 54.41

If we spike down I am looking for major support 52.61 my bullish view changes below this level.

Good luck

Hi sponge,
only one trader close to my desk used a sma 50 on nasdaq only on range days but I cannot remember the TF. All the others used zero indicators.
People in my area used to trade mainly stocks of small companies that have many empty levels in the DOM (DOM with 25 levels).
In my area nobody knew what a stochastic or rsi were

Edit: sorry sponge I forgot to answer the second part.
I didn't use indi in the months I was there.
I used all kind of classical indies before and after my staying there

Sorry sponge, foot in it, in relation to the trading room, got it, D

GreenEarth,

you made judgments and comments on other participants actions, when all the other participants themselves always limited to comment the market and not the actions of colleagues.

I asked you some clarification because I hoped that you were a person that takes responsibilities of his/her actions but you avoid to answer to me.

You want to help others and you write that you trade without stop loss and your position went against you of 247 pips.
You call this proper money management.
And still you make judgments on other’s account management.
………………I trade stress free…………………..
Really??
With 247 pips DD?

Trump tweeted and sent you 247 pips under. Really??
He is really an ugly bad unfair kid. He absolutely deserves to be punished for this.

I believe that other participants here, in a similar event, once listened Trump’s tweet, would have reversed or at least closed with small loss and maybe reopened at a 240 pips better level.

Your draw down sounds like a suicide from the point of view of my trading style but I would never dare to judge you for your action because I am sure that you know what you are doing and that you manage your account in the best possible way.

You want to help others because you learned to trade weekly pivots and because you have watched Mark Douglas videos and because you unlearned your bad habits.

I thinks that weekly pivots is good way, as I already said, though extremely simple.
Why do you think that I say that your method is good? Because I’ve heard to say it at the local pub?
I say this because I traded Davit’s method for a couple of months.
Have you ever tried my method?

You mention always Mark Douglas but you act much differently from what he taught.
Maybe you should go back to watch his videos again.

You unlearned your bad habits.
Ask yourself why you feel the need to comments other traders actions.

Help others is certainly good but first you should help yourself starting to take responsibilities for your actions.

About gurus in trading.
Come on GreenEarth, open your eyes.
If one can really trade profitably, with 100k account and a bit of leverage, in a couple of hours that one can make every day the monthly wage of the girl/boy at the cashier of the local supermarket.
Why these gurus should bother to make seminars that, to participate in which, you have to spend a couple of thousand?

……………….videos by a man named MARK DOUGLAS are available , but are sometimes hard to locate. I will post them later. Wall Street bought up all of his videos after he died…………………..
Really??
Hard to locate?
…………………I will post them later……………….
Have you tried to google it?
https://www.google.it/search?source=...30.H8o1_hQIjHY
Videos are available on youtube since many uninterrupted years.

My default mode is to think that all traders are at least a bit better than me. In this way I avoid to put myself in a wrong bias that would prevent me from learning something new from anybody.
You too are classified as a bit better than me and you will remain on this status.
And yes, I learned some valuable things also from you.

Thanks for allowing me to keep on enjoying my ignorance and perform my wrong money management and suffer for my stressfull -20 ticks DD on 1/4.

From you answer I perceive that you understood less than zero about my tools/strategy/MM.
On the contrary I know very well yours and, as I said, I consider it valid and I have the outmost respect.

Listen to me, make yourself a favor.
Take responsibilities of your statements.
This is an open community and reciprocal respect is fundamental

Have a nice Sunday afternoon/evening

Green pips

Valter

this dude seems to be a jerk, dont waste your time on him, i believe he hardly understands the difference between gambling and trading.. disgrace!!

I think if we are going to move on freely and not deter anyone from posting we have to accept there will be opinions, so If a poster feels targeted they have the right to respond and entitled, but not guaranteed, to a response, this being somewhat of a first, I would like to think we could make up our differences and be there for each other to beat the common enemy, namely the market, D

as you seem to know it all , please explain the difference to me

Projections, projections,
posted a daily chart with a view that a slip through current level would take it to 45, bitter pill, but not for aariapoor he' got this all the way down and well done, I have res lines @54 that it may well visit before the journey down, the snap back could take it there so don't think it's a cut n dry case (personally) we've had countries on the brink and nothings moved so an organic rise and fall anticipated, it would be well to note the post 1757 Sixer has noted a long term delta low on his chart, my view is also the pendulum has swung a little too far (new trading terminology made up by me) so expect it to re-align before continuation if it's going to happen, good chess for this week everyone, D

Those who can, do;
those who can't, teach.

First a Gambler and now a Jerk in this thread?
I totally disaprove the term "jerk" referred to GreenHearth.
Better that I take a break
Green pips to all
Valter

WTI picks up fresh bids, $ 54 mark back on sight despite risk-aversion
3 June 2019, 12:33

1. Risk-off grips Europe amid escalating trade war fears, WTI attempts a bounce.
2. Goldman Sachs predicts lower oil prices in the month ahead due to trade wars.
3. Focus on US ISM PMI, weekly US crude supplies for fresh direction.

Following a phase of downside consolidation just ahead of the 53 handle, WTI (futures on Comex) catches fresh bids and breaks to the upside in a bid to regain the 54 handle, despite prevalent risk-off market profile fuelled by intensifying trade wars and global recession fears.

A renewed risk-aversion wave swept the markets in Europe after the Chinese Education Ministry warned over the risks of studying overseas after the US visa limits. Moreover, the latest US tariff threats on Mexico also kept investors unnerved, with a flight to safety the main theme so far this Monday.

Despite the latest upside attempt, the black gold remains exposed to downside risks, as it enters the bear markets territory, with 20% loss seen since April highs. The risks of a global recession remain very high, as reflected by the downward revision made to the US growth forecasts by Goldman Sachs, that raises oil demand outlook concerns and weigh on the prices.

Further, Goldman Sachs said in its latest client note that it sees oil prices lower in Q3 2019 due to escalating US-China trade war and weaker activity indicators. The bleak oil outlook could also weigh down on the barrel of WTI.

Looking ahead, the commodity will take cues from the US ISM manufacturing data due later today and the US weekly crude stocks data slated for release later this week while trade concerns-driven risk trends will continue to play a pivotal role.

Saudi OilMin Al-Falih: Confident of the OPEC+ deal extension beyond June
3 June 2019, 12:58

Additional headlines are crossing the wires from the Saudi Arabian Energy Minister Khalid Al-Falih, as he now says that Saudi is confident of the OPEC+ deal extension beyond June.
Earlier today, he said that the US-China trade conflict is likely to have a negative impact on oil demand growth

Fib 50 acting as resistance on Daily chart

It barely touched 61.8 and my target was around 52, but I missed to close my sells.
Waiting for a correction or double bottom or something to take profit

To bad hope you'll hit your target

To all people on this Forum , I am quite perplexed at the response to my post. I really did not intend to offend anyone on this Forum and for that , I am truly sorry for offending anyone. My choice of wording obviously offended traders here and I take ownership of that fact , however , it was never meant to be derogatory in any way shape or form. Not one iota.
Rest assured , I will not be making any posts to this Forum going forward.
I sincerely wish huge success for all Traders on every Forum.

Green Pips To All , Respectfully ,
GreenEarth

GE, it doesn't have to be that way, you have done an honourable thing, I for one think it was just a wording of your comments, however you have made an apology, we want Valter back too so in the interests of trading, let us all enter the arena united, so let's crack on, D

Hello all, nothing sparking any rise today as regarding news, my first outlook of a rise to 54 (54.58) wasn't far off, the next stop I have plotted is on the daily and that could be 45.50 , I have taken a small sell that won't break the bank @53.56 going to add iF it moves up, D
EDIT
52.70 first target

Mixed signals on the Dow, looking for a sell, 4hr and daily -ve, any input?, D
EDIT
Breach of 24880 could change things, happening as I post
In short @24888
EDIT
Could be offside here, tight mental stop and turn!!!
Target 24600
EDIT
Short 24926 added

Yields are down -- 10-yr treasury is at 2.116% -- and yields are inverted; both indications that the more astute traders are expecting worsening economic conditions for US, EU, ...

Bad for oil regardless of OPEC playing games. It should be bad for equities, but there seems to be an abundance of 'greater fools' in that venue.