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WTI Crude Oil Trading

  • #1,981
  • Jun 13, 2019 1:29am Jun 13, 2019 1:29am
Quoting Ll1979
{quote} Sorry to hear about your loss sponge you'll win the next one. On what time frame are you trading?
I use daily for direction and watch 4,1,15 and 5 using 5 as the entry frame if indi's line up.
All charts/ideas based on UK time zone
  • #1,982
  • Jun 13, 2019 1:34am Jun 13, 2019 1:34am
Bloomberg‏Verified account @business 4m4 minutes ago
BREAKING: An oil tanker on fire in the Sea of Oman sent a distress signal to the U.A.E.

https://www.bloomberg.com/news/artic...alflow-organic
persistence and determination alone are omnipotent
  • #1,983
  • Jun 13, 2019 1:46am Jun 13, 2019 1:46am
Quoting Ll1979
long @ 61.644 {image}
cashed
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 3 KB
persistence and determination alone are omnipotent
  • #1,984
  • Jun 13, 2019 1:59am Jun 13, 2019 1:59am
Quoting Ll1979
{quote} cashed {image}
Good stuff LI
All charts/ideas based on UK time zone
  • #1,985
  • Jun 13, 2019 2:09am Jun 13, 2019 2:09am
Quoting sponge
{quote} Good stuff LI
Thnx had the luck on my side with Oman incident
persistence and determination alone are omnipotent
  • #1,986
  • Jun 13, 2019 3:09am Jun 13, 2019 3:09am
Quoting Ll1979
{quote} Thnx had the luck on my side with Oman incident
Fortune favours the brave - you have to be in the market to take advantage of 'luck'. Bravo Ll.
Focus.
  • #1,987
  • Jun 13, 2019 3:27am Jun 13, 2019 3:27am
Quoting Marco-Kanto
{quote} Fortune favours the brave - you have to be in the market to take advantage of 'luck'. Bravo Ll.
thnx Marco-Kanto!
persistence and determination alone are omnipotent
  • #1,988
  • Jun 13, 2019 3:48am Jun 13, 2019 3:48am
Quoting Ll1979
{quote} cashed {image}
Very nice trade!
  • #1,989
  • Jun 13, 2019 3:49am Jun 13, 2019 3:49am
Quoting Ll1979
{quote} thnx Marco-Kanto!
l still think we're heading south. These 2 tankers aren't carrying enough to effect supply levels in a big way IMHO. Yesterday the daily closed below the 61.8 (42.14-66.5) for the first time. I have a short at 52.55 - failure to close above the 30m 200MA. target LL 50.52.
Focus.
  • #1,990
  • Jun 13, 2019 4:05am Jun 13, 2019 4:05am
Quoting Marco-Kanto
{quote} l still think we're heading south. These 2 tankers aren't carrying enough to effect supply levels in a big way IMHO. Yesterday the daily closed below the 61.8 (42.14-66.5) for the first time. I have a short at 52.55 - failure to close above the 30m 200MA. target LL 50.52.
not much action after earlier spike
people leave, but this thread will go on for ever
  • #1,991
  • Jun 13, 2019 4:14am Jun 13, 2019 4:14am
Quoting Marco-Kanto
{quote} l still think we're heading south. These 2 tankers aren't carrying enough to effect supply levels in a big way IMHO. Yesterday the daily closed below the 61.8 (42.14-66.5) for the first time. I have a short at 52.55 - failure to close above the 30m 200MA. target LL 50.52.
It's not the supply levels that matters but the potential outfall in the region. The latest news their might be torpedoes involved.

https://www.zerohedge.com/news/2019-...rmuz-oil-soars
persistence and determination alone are omnipotent
  • #1,992
  • Edited 6:05am Jun 13, 2019 4:16am | Edited 6:05am
Quoting Marco-Kanto
{quote} l still think we're heading south. These 2 tankers aren't carrying enough to effect supply levels in a big way IMHO. Yesterday the daily closed below the 61.8 (42.14-66.5) for the first time. I have a short at 52.55 - failure to close above the 30m 200MA. target LL 50.52.
*edit - took 50% at +20, SL set to BE 52.75
*edit - out at BE
Focus.
  • #1,993
  • Jun 13, 2019 4:18am Jun 13, 2019 4:18am
Quoting Marco-Kanto
{quote} l still think we're heading south. These 2 tankers aren't carrying enough to effect supply levels in a big way IMHO. Yesterday the daily closed below the 61.8 (42.14-66.5) for the first time. I have a short at 52.55 - failure to close above the 30m 200MA. target LL 50.52.
News are just excuses to move the market;
I didn't close my sell last night but if I see a correction like this under the line, I have to close it with loss.
But if it drops during NY session, it can go lower
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 38 KB
We can't control the sea, but we can learn how to surf the waves.
  • #1,994
  • Jun 13, 2019 4:19am Jun 13, 2019 4:19am
Quoting Ll1979
{quote} It's not the supply levels that matters but the potential outfall in the region. The latest news their might be torpedoes involved. https://www.zerohedge.com/news/2019-...rmuz-oil-soars
Yes reading about the developments now. The US will strap on its boots and save the day. They don't want expensive oil.

I have SL in place so let's see how it plays out.

*edit - I sound very dismissive. I understand that this news could be the beginnings of tension in the area which could shift market sentiment - but I tend not to look much further than the end of the day when trading with the sentiment in the back of my mind. But as you know - bull days can occur in bear markets and vice versa.
Focus.
  • #1,995
  • Jun 13, 2019 4:22am Jun 13, 2019 4:22am
Quoting aariapoor
{quote} News are just excuses to move the market; I didn't close my sell last night but if I see a correction have to close it with loss and buy from here But if it drops during NY session, can go lower {image}
Same same.
Focus.
  • #1,996
  • Jun 13, 2019 4:23am Jun 13, 2019 4:23am
Crude oil moves through perceptions of supply and demand, affected by worldwide output, as well as global economic prosperity. Oversupply and shrinking demand encourage traders to sell crude oil markets to lower ground while rising demand and declining or flat production encourage traders to bid crude oil to higher ground.
  • #1,997
  • Jun 13, 2019 5:49am Jun 13, 2019 5:49am
OPEC Monthly Oil Market Report is out

https://www.opec.org/opec_web/en/publications/338.htm
persistence and determination alone are omnipotent
  • #1,998
  • Jun 13, 2019 7:18am Jun 13, 2019 7:18am
Quoting aariapoor
{quote} News are just excuses to move the market; I didn't close my sell last night but if I see a correction like this under the line, I have to close it with loss. But if it drops during NY session, it can go lower {image}
Sorry guys, my drawing was wrong, I realized when I looked at Daily chart, here is what we're waiting for:
WTI 1H :
Attached Image
We can't control the sea, but we can learn how to surf the waves.
  • #1,999
  • Jun 13, 2019 7:33am Jun 13, 2019 7:33am
Quoting sponge
Think the market was news driven yesterday, -63 pips for me My indi's say buy at current levels but sometimes price can hug the indi's for some time so staying out for now. I think possible support levels today are 51.72, 52.07, possible double bottom on the daily. Good luck
Fish fingers yeaterday Fillet Steak today 200+ pips

I think more upside is possible I may re enter on pullback, 58 is possible longer term ...we'll see
Attached Image
All charts/ideas based on UK time zone
  • #2,000
  • Edited 8:53am Jun 13, 2019 8:43am | Edited 8:53am
WTI H4 median line has recrossed back above EMA20 and through a downtrend line. A bullish condition, but for how long?

EDIT
This looks like a false breakout. HoD is 53.45.
Attached Image (click to enlarge)
Click to Enlarge Name: wti_h4_20190613.jpg Size: 89 KB
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