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WTI Crude Oil Trading

  • #2,061
  • Jun 18, 2019 1:57pm Jun 18, 2019 1:57pm
Quoting Ll1979
{quote} Thinking the same minus 1240 pips LOL.
Oh my Li, hope it all comes back round, D

Quoting Ll1979
{quote} It could be turning point, wti was consolidating last couple of days. Then again the inventory numbers doesn't show an increase in demand the last couple of weeks. Just take what you can and give nothing back
Volume is low in comparison to previous spikes, could be a final before a fall,?? if it doesn't make the cut I'll shot, jusn need the indicators to line up, been using a 1period MA on the lower chart, fixed to previous data, it plots, try it!!
EDIT
taken a speculative sell 53.90
EDIT
Still looking for 53.80 now the indicators have turned, maybe wrong,D
EDIT
Arrows on the Dow could be lining on the 5min to sell

Dow looking void 26490 if it closes above
EDIT
added to short, here's hoping
WTI short closed
EDIT
Speculative fall!!

3rd attempt on the 1min!!
I don't need to be good at the game, only good enough to beat my opponent,
  • #2,062
  • Jun 18, 2019 2:56pm Jun 18, 2019 2:56pm
Closed Dow + D
I don't need to be good at the game, only good enough to beat my opponent,
  • #2,063
  • Jun 18, 2019 3:53pm Jun 18, 2019 3:53pm
@lauriesandra
#API Private weekly US oil inventories Crude - smaller than expected DRAW #Crude -0.812 (-1.077 exp) #Distillates -0.050 (+0.712 exp) #Gasoline +1.458 (+0.935 exp) #Cushing +0.519
persistence and determination alone are omnipotent
  • #2,064
  • Jun 18, 2019 4:07pm Jun 18, 2019 4:07pm
An interesting physics experiment: levitation by hot air.

Now we know what a Draghi-Trump surge looks like. We should expect more of these during the coming months as words are used to hide reality.

Bond rates continue low, commensurate with economic weakness.

IMO, a broad Panic Day is not very far off: second half?

KeltnerChanGrad2.ex4 is available under the paper clip.
Attached Image (click to enlarge)
Click to Enlarge Name: wti_h4_20190618.jpg Size: 89 KB
  • #2,065
  • Jun 18, 2019 11:56pm Jun 18, 2019 11:56pm
Quoting timingchain
An interesting physics experiment: levitation by hot air. Now we know what a Draghi-Trump surge looks like. We should expect more of these during the coming months as words are used to hide reality. Bond rates continue low, commensurate with economic weakness. IMO, a broad Panic Day is not very far off: second half? KeltnerChanGrad2.ex4 is available under the paper clip. {image}
Thnx for indicator timingchain!
persistence and determination alone are omnipotent
  • #2,066
  • Jun 18, 2019 11:57pm Jun 18, 2019 11:57pm
WTI struggles to hold API-led recovery, geopolitics/EIA data in the spotlight

  1. API inventory report highlighted EIA data due to a surprise drop.
  2. Geopolitical play between the US and Iran continues to grab the headlines.
  3. FOMC may also contribute to the black gold’s volatility.

With the energy traders turning cautious ahead of the key data/events, WTI steadies near $54.00 during early Wednesday.
The black gold recently benefitted from a surprise draw in the US oil stocks as per the private survey of the American Petroleum Institute (API). The inventory level went down by -0.812 million during the week ended on June 14 versus the previous addition of +4.850 million barrels. Traders may now await today’s official stockpile data from the Energy Information Administration (EIA) report to confirm the industry reading.

Other than a decline in inventory, renewed optimism surrounding the US-China trade deal has also pleased energy buyers off-late.
At the geopolitical front, the US recently sent 1,000 additional troops to the Middle East in order to safeguard from Iran while Reuters just flashed a news report conveying a rocket fired on a foreign oil company in Iraq.

While EIA data and geopolitical plays concerning the US could keep directing near-term trade sentiment, monetary policy decision from the US Federal Reserve could also affect the energy benchmark as the US Dollar (USD) has an inverse correlation with the WTI.

Technical Analysis
Buyers need to cross current month high of $54.80 in order to aim for $55.10 and then rise towards February high towards $57.80, failing to which can recall $53.00, $50.60 and the $50.00 round-figure back to the chart.

persistence and determination alone are omnipotent
  • #2,067
  • Jun 19, 2019 12:35am Jun 19, 2019 12:35am
Quoting sponge
{quote} I think it's short term short, longer term long It's likely 54.32 will reappear soon, being tested at the moment, could start the next uptrend Could be wrong of course
Back testing 54.32 I think this would be quite bullish if we go above, smaller frames seem to indicate limited upside for now, side/down maybe but I think 54.32 remains a magnet caution below 54.23/02

Just my 2p

Good luck
All charts/ideas based on UK time zone
  • #2,068
  • Jun 19, 2019 4:51am Jun 19, 2019 4:51am
Short Gold 1342.99
All charts/ideas based on UK time zone
  • #2,069
  • Jun 19, 2019 4:57am Jun 19, 2019 4:57am
Quoting sponge
Short Gold 1342.99
Nice one sponge hope it will break H4 support. Don't forget to kill it before FOMC
Attached Image
persistence and determination alone are omnipotent
  • #2,070
  • Edited 9:42am Jun 19, 2019 9:21am | Edited 9:42am
Closed euro swing trade +93, think I'll give up swing trading it's hard to stay in and give pips back in the hope it turns your way again

I need to work on a new exit other than grab a run ha

Also crapped out of crude but I think i might regret it.... 54.53 still resistance for now
Attached Images
All charts/ideas based on UK time zone
  • #2,071
  • Jun 19, 2019 9:35am Jun 19, 2019 9:35am
EIA: Crude inventories decreased by 3.1 million barrels, WTI leaps above $54
19 June 2019, 17:34

In its weekly petroleum report for the week ending June 14, the Energy Information Administration (EIA) announced that the commercial crude oil inventories in the United States decreased by 3.1 million barrels from the previous week. With the initial reaction, the barrel of WTI gained traction and rose above the $54 mark. As of writing, WTI was up 0.4% on the day at $54.25.
"Gasoline production increased last week, averaging 10.4 million barrels per day. Distillate fuel production increased last week, averaging 5.4 million barrels per day," the EIA noted in its publication. "U.S. crude oil imports averaged 7.5 million barrels per day last week, down by 144,000 barrels per day from the previous week."
persistence and determination alone are omnipotent
  • #2,072
  • Jun 19, 2019 9:37am Jun 19, 2019 9:37am
Quoting sponge
Closed euro swing trade +93, think I'll give up swing trading it's hard to stay in and give pips back in the hope it turns your way again I need to work on a new exit other than grab a run ha {image}
nice trade champ! Already looking for another private island
persistence and determination alone are omnipotent
  • #2,073
  • Jun 19, 2019 9:49am Jun 19, 2019 9:49am
Price seems locked (for now) between 53.77 and 54.33 (fib 50) on H1
Attached Image (click to enlarge)
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persistence and determination alone are omnipotent
  • #2,074
  • Jun 19, 2019 10:02am Jun 19, 2019 10:02am
Quoting Ll1979
{quote} nice trade champ! Already looking for another private island
maybe an island reversal
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.PNG Size: 15 KB
All charts/ideas based on UK time zone
  • #2,075
  • Jun 19, 2019 11:36am Jun 19, 2019 11:36am
Howdy all, game playing at it's finest again today I see, short Dow (speculative), WTI ?? have it a possible sell, but no clear path, anyone got a small island they want to sell, I can offer my services of washing dishes to pay for it,D
I don't need to be good at the game, only good enough to beat my opponent,
  • #2,076
  • Jun 19, 2019 11:59am Jun 19, 2019 11:59am
Quoting detector
Howdy all, game playing at it's finest again today I see, short Dow (speculative), WTI ?? have it a possible sell, but no clear path, anyone got a small island they want to sell, I can offer my services of washing dishes to pay for it,D
Closed out, giving a miss tonight, good chess everyone, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #2,077
  • Jun 19, 2019 1:40pm Jun 19, 2019 1:40pm
Quoting detector
{quote} Closed out, giving a miss tonight, good chess everyone, D
Possible short vibes on the 1 hour and 4hour D, but I'm thinking 54.53 is still key, if it breaks I think we will go stupid upside forget shorter indi's

53.59 is possible game changer.

Could be totally wrong of course ...good luck
All charts/ideas based on UK time zone
  • #2,078
  • Jun 19, 2019 2:20pm Jun 19, 2019 2:20pm
Attached Image (click to enlarge)
Click to Enlarge Name: CRUDE OIL JULY19 DAILY.jpg Size: 197 KB



Watch Crude Oil analysis on youtube

Inserted Video
  • #2,079
  • Jun 19, 2019 2:28pm Jun 19, 2019 2:28pm
Quoting Beyfor
{image} Watch Crude Oil analysis on youtube https://youtu.be/-_I2VkJldqM
Nice content keep it coming
persistence and determination alone are omnipotent
  • #2,080
  • Jun 19, 2019 2:46pm Jun 19, 2019 2:46pm
Quoting sponge
{quote} Possible short vibes on the 1 hour and 4hour D, but I'm thinking 54.53 is still key, if it breaks I think we will go stupid upside forget shorter indi's 53.59 is possible game changer. Could be totally wrong of course ...good luck
I was called away so had to close all before hand, the Dow short would have yielded some profit before the spike so pleased I did what I did when I did, LOL, I dipped into WTI but closed out, new contract started tonight, Dovish words sent all into a frenzy so pleased I was out, however, the dust has settled and I have taken a speculative short on WTI, seems resistance or reversal @ 54.50 hoping to be the case, the 1min is struggling to give conviction to continuation (my opinion) so looking for the Bull trap, all speculation on my part, (will prove me wrong) D
I don't need to be good at the game, only good enough to beat my opponent,
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