WTI Crude Oil Trading | Page 113 | 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

  • #2,241
  • Jun 26, 2019 5:16pm Jun 26, 2019 5:16pm
Quoting DCstar84
{quote} Hey, pretty new in here. Just taken a short here at 59.13 with a stop at 60.13 It would be great to get others thoughts on this as you all seem miles more experienced than myself
DC, welcome and nice that you have posted, the guys and gals on the thread try to be informative in their decisions as the can, but only for "their" trades, that's a must to understand and me personally, don't get it right all the time LOL.
On behalf of the thread, feel free to post your thoughts, questions, post charts of what and why, speaking for myself, I have gained a lot from this thread, for which I'm thankful, use it to your advantage the best way you can, there is no moderator so it belongs to no one, with that said, it doesn't need one, we know our limits.
Regarding your WTI short, have you based the position around anything in particular, chart indicators, fundamentals,(world events), I sure we can all give some kind of reasoning.
Wishing you well, Detector.
Oh, on lazy days, we include trading on anything that moves, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #2,242
  • Jun 26, 2019 5:42pm Jun 26, 2019 5:42pm
Quoting detector
{quote} DC, welcome and nice that you have posted, the guys and gals on the thread try to be informative in their decisions as the can, but only for "their" trades, that's a must to understand and me personally, don't get it right all the time LOL. On behalf of the thread, feel free to post your thoughts, questions, post charts of what and why, speaking for myself, I have gained a lot from this thread, for which I'm thankful, use it to your advantage the best way you can, there is no moderator so it belongs to no one, with that said, it doesn't...
Thanks so much for the welcome!!

I based the short on the down trend line and bearish divergence on the indicators I use on mt4.

I'll pitch in where I can and will accept any constructive criticism.

Taken a punt on the DOW short here too with a 26580 stop more on the basis of the 1h and 4h timeframes with the daily looking bearish to me.

I have a hell of alot to learn but am committed to getting better
I am but a small fish in a large pond
  • #2,243
  • Jun 26, 2019 6:19pm Jun 26, 2019 6:19pm
Quoting DCstar84
{quote} Thanks so much for the welcome!! I based the short on the down trend line and bearish divergence on the indicators I use on mt4. I'll pitch in where I can and will accept any constructive criticism. Taken a punt on the DOW short here too with a 26580 stop more on the basis of the 1h and 4h timeframes with the daily looking bearish to me. I have a hell of alot to learn but am committed to getting better
Great, time getting on so speak tomorrow, only thing I will say is, if you learn a valuable lesson by getting it wrong, make sure its small enough to keep you fighting never to make the same mistake again, don't know how many times Iv'e blown accounts, but getting better, Night all, D.
I don't need to be good at the game, only good enough to beat my opponent,
  • #2,244
  • Jun 26, 2019 11:29pm Jun 26, 2019 11:29pm
Quoting DCstar84
{quote} Hey, pretty new in here. Just taken a short here at 59.13 with a stop at 60.13 It would be great to get others thoughts on this as you all seem miles more experienced than myself
Welcome to the club DCstar84 feel free to ask us anything.
persistence and determination alone are omnipotent
  • #2,245
  • Jun 27, 2019 3:14am Jun 27, 2019 3:14am
Quoting detector
{quote} Great, time getting on so speak tomorrow, only thing I will say is, if you learn a valuable lesson by getting it wrong, make sure its small enough to keep you fighting never to make the same mistake again, don't know how many times Iv'e blown accounts, but getting better, Night all, D.
Learnt a couple of lessons already by being a fool and not understanding the market well enough, going against the trend etc...

Got stopped on the DOW but think I had a stop too close, going to grow my account more before trading that again I think.

Look forward to being more active in here and learning more!

Thanks for the welcome too Ll1979
I am but a small fish in a large pond
  • #2,246
  • Jun 27, 2019 4:44am Jun 27, 2019 4:44am
WTI: Corrective mode intact around $ 59, focus on trade
27 June 2019, 12:36

 

  1. US-China trade truce uncertainty, pre-OPEC meeting jitters remain a drag.
  2. US-Iran geopolitical worries, fresh USD selling and US inventory draw keep losses limited.
  3. Eyes on US GDP data and fresh trade headlines for fresh directives.

WTI (futures on Nymex) managed to find fresh buyers once again near the 58.80 region, sending the rate back into the familiar range just ahead of the 59 handle, as markets stay focussed on the US-China trade developments heading into the G20 Summit, starting tomorrow.

The black gold is seen consolidating the corrective move lower from five-month tops of $ 59.91 reached in the US last session after the US weekly crude stockpiles data published by the Energy Information Administration (EIA) showed a bigger-than-expected drop in the US crude commercial stockpiles.

The bears remain in charge so far this Thursday, as a sense of caution prevails ahead of the Trump-Xi trade meeting at the G20. It's widely expected that the US-China may not reach a trade deal this weekend. Further, markets also remain wary about a trade war cease-fire following mixed reports of a tentative trade truce reached.

Also, in focus remains the key OPEC+ meeting due next week, with investors unwilling to take any directional bets amid uncertainty whether the OPEC + will agree on extending the oil output cuts until December.

However, the buyers continue to lurk at the lower levels amid a fresh bout of selling seen around the US dollar across its main competitors while ongoing US-Iran geopolitical tensions continue to pose a risk to the global supplies, keeping the sentiment somewhat buoyed.

Looking ahead, the risk trends and USD dynamics will continue to influence the barrel of WTI while the US-China trade-related headlines will continue to remain the main market driver.

persistence and determination alone are omnipotent
  • #2,247
  • Jun 27, 2019 5:18am Jun 27, 2019 5:18am
shorted on the H1 break (head shoulders)
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 12 KB
persistence and determination alone are omnipotent
  • #2,248
  • Jun 27, 2019 5:23am Jun 27, 2019 5:23am
Quoting Ll1979
shorted on the H1 break {image}
Shorted from 59.13 now in some good profit.
I've got my target around 54.85 for tp.
Will move stops down when breaks 58
I am but a small fish in a large pond
  • #2,249
  • Jun 27, 2019 8:22am Jun 27, 2019 8:22am
Hello all, seems there could be a short in WTI after all, the trouble with news driven price is there is no set charting pattern /style, it can explode at any given time, either way.
My Dow stop was tripped, don't normally have a set on while the trade is monitored but needed one while I was away, it generate a small profit, BE+ (break even), the price has dropped but back to pre close out of trade, net net, maybe an opp might be possible today for the re-entry, D
EDIT
Watching 26640, seems a bit of rejection at this level, nothing concrete though,D
I don't need to be good at the game, only good enough to beat my opponent,
  • #2,250
  • Jun 27, 2019 9:00am Jun 27, 2019 9:00am
Bad news from my side today guys, ETX my broker is doing reconstruction, knew it was happening so the day has came around, I have to open a new account as they will be changing a few things around, don't want to get involved with any trades just yet so need to sit out until completion was looking to short the recent spike on WTI, so will be quiet until all is done, please keep the postings coming, will be looking in and putting my pennies worth, good chess all, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #2,251
  • Jun 27, 2019 9:03am Jun 27, 2019 9:03am
Quoting detector
Bad news from my side today guys, ETX my broker is doing reconstruction, knew it was happening so the day has came around, I have to open a new account as they will be changing a few things around, don't want to get involved with any trades just yet so need to sit out until completion was looking to short the recent spike on WTI, so will be quiet until all is done, please keep the postings coming, will be looking in and putting my pennies worth, good chess all, D
That sucks mate! WTI has retraced back to my entry but still waiting for it to break down
Hope the maintenance doesn't take too long and setting up another account isnt too much of a ball ache either.
I am but a small fish in a large pond
  • #2,252
  • Jun 27, 2019 9:09am Jun 27, 2019 9:09am
Quoting DCstar84
{quote} That sucks mate! WTI has retraced back to my entry but still waiting for it to break down Hope the maintenance doesn't take too long and setting up another account isnt too much of a ball ache either.
Thanks DC, been with ETX since Alpari went out of action, and was with them for many years previous, more than happy with their service, not that they do much, other than keep me connected 24/5 with little outages, worth the HAG in my opinion.
Need to change servers and account, should all be done by tomorrow, so they tell me, thanks for the concern though,
I don't need to be good at the game, only good enough to beat my opponent,
  • #2,253
  • Jun 27, 2019 9:13am Jun 27, 2019 9:13am
Quoting DCstar84
{quote} That sucks mate! WTI has retraced back to my entry but still waiting for it to break down Hope the maintenance doesn't take too long and setting up another account isnt too much of a ball ache either.
The 1min chart indicators showing divergence, higher high, but indicators not following, just a heads up, hope it turns
Attached Image (click to enlarge)
Click to Enlarge Name: oiler7.png Size: 22 KB
I don't need to be good at the game, only good enough to beat my opponent,
  • #2,254
  • Jun 27, 2019 9:13am Jun 27, 2019 9:13am
Quoting detector
{quote} Thanks DC, been with ETX since Alpari went out of action, and was with them for many years previous, more than happy with their service, not that they do much, other than keep me connected 24/5 with little outages, worth the HAG in my opinion. Need to change servers and account, should all be done by tomorrow, so they tell me, thanks for the concern though,
Good they seem decent, I'm with icmarkets personally.
Getting screwed by GBP JPY now though
Been scalping it and gone against me this time!!
I am but a small fish in a large pond
  • #2,255
  • Jun 27, 2019 9:48am Jun 27, 2019 9:48am
Quoting DCstar84
{quote} Good they seem decent, I'm with icmarkets personally. Getting screwed by GBP JPY now though Been scalping it and gone against me this time!!
The GJ looks or could be in change, if it breaks 139, the indicators are pointing north, that could change though, similar to AU, took me for tiny fortune, trade well, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #2,256
  • Jun 27, 2019 9:50am Jun 27, 2019 9:50am
Quoting detector
{quote} The GJ looks or could be in change, if it breaks 139, the indicators are pointing north, that could change though, similar to AU, took me for tiny fortune, trade well, D
I'm glad you've said that as I'm currently 0.3 lots long on this!
Will be a horrible lesson if it continues down
I am but a small fish in a large pond
  • #2,257
  • Jun 27, 2019 10:00am Jun 27, 2019 10:00am
Quoting DCstar84
{quote} I'm glad you've said that as I'm currently 0.3 lots long on this! Will be a horrible lesson if it continues down
What was your entry price DC, was it recent, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #2,258
  • Jun 27, 2019 10:01am Jun 27, 2019 10:01am
added some more shorts on a nice doji formation on H1
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 7 KB
persistence and determination alone are omnipotent
  • #2,259
  • Jun 27, 2019 10:02am Jun 27, 2019 10:02am
Quoting detector
{quote} What was your entry price DC, was it recent, D
137.047 and again at 136.768.
Did think about opening another here but too risky, got a tp at 137.130
I am but a small fish in a large pond
  • #2,260
  • Jun 27, 2019 10:04am Jun 27, 2019 10:04am
Quoting Ll1979
added some more longs on a nice doji formation on H1 {image}
You went long on WTI?
I am short due to trending down on the daily but going back quite far for the trend line, if you dont mind what else are you basing yours on apart from the doji?
I am but a small fish in a large pond
10 traders viewing now