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WTI Crude Oil Trading

  • #2,281
  • Jun 27, 2019 6:25pm Jun 27, 2019 6:25pm
Quoting DCstar84
{quote} That was what I was looking at last night thinking it was a good short but I'm not used to trading the DOW
Yeah DC, a slight on the Dow can cost dramatically, hence small beer trades,nothing that can cause too much damage, get it right though and you need trade nothing else, learn and earn, by the way DC, are you south, I'm north, black and white, at a guess, hammers??, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #2,282
  • Jun 27, 2019 6:33pm Jun 27, 2019 6:33pm
Would like to think a warm feeling about shorting the Dow, the charts will always have a last attempt before rise /fall, I'm thinking this is the attempt, not the 50 point rise, the sheer fright, but not to be trusted, Good chess, D
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I don't need to be good at the game, only good enough to beat my opponent,
  • #2,283
  • Edited 11:57pm Jun 27, 2019 10:22pm | Edited 11:57pm
Quoting detector
{quote} Yeah DC, a slight on the Dow can cost dramatically, hence small beer trades,nothing that can cause too much damage, get it right though and you need trade nothing else, learn and earn, by the way DC, are you south, I'm north, black and white, at a guess, hammers??, D
Yeah was a quick loss but not major for me.
I am south but am actually relocating up north to Yorkshire
Admittedly not a football fan either but borough if I have to more of an engine kinda guy Haha
I am but a small fish in a large pond
  • #2,284
  • Jun 28, 2019 5:32am Jun 28, 2019 5:32am
WTI turns neutral near $ 59.50 ahead of US data, Trump-Xi trade talks

  1. US-China trade uncertainty, pre-OPEC meeting jitters continue to cap the upside.
  2. Russia’s Novak: Expects a balanced agreement among OPEC+ members in Vienna
  3. Focus on US rigs count data and Trump-Xi trade meeting for fresh direction.

WTI (futures on Nymex) is seen on a steady rise from daily lows reached just ahead of the 59 handle, but the bulls appear to lack vigor, as markets remain edgy awaiting the outcome of the Trump-Xi meeting on the prolonged trade spat.

The investors refrain from placing any directional bets on the US oil, a fallout on the US-China trade talks could be detrimental to the overall market sentiment and weigh heavily on the higher-yielding oil. A US-China trade is mostly priced-out by the markets, but both countries could reach a trade truce if the US agrees on relaxing the tariffs on Chinese goods.

Further, a sense of caution also prevails ahead of the key OPEC+ meeting due next week in Vienna, as it remains to be seen if the OPEC + agrees on extending the oil output cuts to help keep the oil markets balanced.

Meanwhile, the US dollar is seen broadly weaker, despite the bounce in the Treasury yields, which seems to lend some support to the black gold. A weaker greenback makes the USD-denominated oil cheaper for foreign buyers.

Looking ahead, the barrel of WTI will take some cues from the USD price-action and US rigs count data heading into the US-China trade talks on Saturday.

persistence and determination alone are omnipotent
  • #2,285
  • Jun 28, 2019 7:09am Jun 28, 2019 7:09am
Quoting Ll1979
WTI turns neutral near $ 59.50 ahead of US data, Trump-Xi trade talks US-China trade uncertainty, pre-OPEC meeting jitters continue to cap the upside. Russia’s Novak: Expects a balanced agreement among OPEC+ members in Vienna Focus on US rigs count data and Trump-Xi trade meeting for fresh direction. WTI (futures on Nymex) is seen on a steady rise from daily lows reached just ahead of the 59 handle, but the bulls appear to lack vigor, as markets remain edgy awaiting the outcome of the Trump-Xi meeting on the prolonged trade spat. The investors refrain...
Hello all, wonder where sponge is, been quiet of late, Li, the outcome of the news will move the markets, WTI included, seems there just waiting for the catalyst to ignite it from, inbetween waiting for my account switch I dipped into the Dow, closed this morning for a small profit, will keep my powder dry until Monday, unless an unbeatable opp arises, good chess all, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #2,286
  • Jun 28, 2019 7:50am Jun 28, 2019 7:50am
Killed my shorts
persistence and determination alone are omnipotent
  • #2,287
  • Jun 28, 2019 8:01am Jun 28, 2019 8:01am
Quoting detector
{quote} Hello all, wonder where sponge is, been quiet of late, Li, the outcome of the news will move the markets, WTI included, seems there just waiting for the catalyst to ignite it from, inbetween waiting for my account switch I dipped into the Dow, closed this morning for a small profit, will keep my powder dry until Monday, unless an unbeatable opp arises, good chess all, D
Better to avoid the G20 outcome. I guess sponge is inspecting his new private island
persistence and determination alone are omnipotent
  • #2,288
  • Jun 28, 2019 8:19am Jun 28, 2019 8:19am
Killed your shorts Li, have you closed on the G20, I'm keeping my hands together for you

Quoting Ll1979
{quote} Better to avoid the G20 outcome. I guess sponge is inspecting his new private island
Good advice Li, it's Friday too, seems my side is a little hit and miss, will get a little stability before making any trades, no sooner I enter one I'm called away, got a message from Sponge, he'll be back soon, little activity on WTI on the 5min, I'm out though, keep the fires burning, will look in, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #2,289
  • Jun 28, 2019 8:40am Jun 28, 2019 8:40am
Could be the tumble on the Dow, what a day to be out if it is,
I don't need to be good at the game, only good enough to beat my opponent,
  • #2,290
  • Jun 28, 2019 8:45am Jun 28, 2019 8:45am
Quoting detector
Killed your shorts Li, have you closed on the G20, I'm keeping my hands together for you {quote} Good advice Li, it's Friday too, seems my side is a little hit and miss, will get a little stability before making any trades, no sooner I enter one I'm called away, got a message from Sponge, he'll be back soon, little activity on WTI on the 5min, I'm out though, keep the fires burning, will look in, D
For several reason i killed my wti

  1. didn't stick to my original plan (breakout play has become a swing trade)
  2. G20
  3. 2% loss
  4. It looked liked it was going to pop

persistence and determination alone are omnipotent
  • #2,291
  • Jun 28, 2019 8:46am Jun 28, 2019 8:46am
Quoting detector
Could be the tumble on the Dow, what a day to be out if it is,
sounds logic to me cashing in on your stock profits before G20 US China meeting
persistence and determination alone are omnipotent
  • #2,292
  • Jun 28, 2019 8:49am Jun 28, 2019 8:49am
shorted dax on dow drop and H4 resistance
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persistence and determination alone are omnipotent
  • #2,293
  • Edited 10:40am Jun 28, 2019 9:06am | Edited 10:40am
Quoting Ll1979
shorted dax on dow drop and H4 resistance {image} {image}
and out with a 1,5% loss, complete forgot about the news
persistence and determination alone are omnipotent
  • #2,294
  • Jun 28, 2019 9:23am Jun 28, 2019 9:23am
another attack on the H1 trendline on the Dow
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persistence and determination alone are omnipotent
  • #2,295
  • Jun 28, 2019 10:31am Jun 28, 2019 10:31am
Magnificent Seven has been updated to version 2.57 and tested on a demo account. Run it with Confirm selected to see diagnostics. Please let me know if there are any problems encountered. ~tc
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File Type: ex4 Magnif7_2.57_tc.ex4   128 KB | 389 downloads
  • #2,296
  • Jun 28, 2019 10:43am Jun 28, 2019 10:43am
Quoting timingchain
Magnificent Seven has been updated to version 2.57 and tested on a demo account. Run it with Confirm checked to see diagnostics. Please let me know if there are any problems encountered. ~tc {image} {image} {file}
Nice work tc! In the near future i will demo it.
persistence and determination alone are omnipotent
  • #2,297
  • Jun 28, 2019 10:52am Jun 28, 2019 10:52am
Quoting Ll1979
{quote} Nice work tc! In the near future i will demo it.
Thanks.
  • #2,298
  • Jun 28, 2019 12:15pm Jun 28, 2019 12:15pm
EIA: US CRUDE OIL PRODUCTION ROSE 246,000 BPD IN APRIL TO 12.162 MILLION BPD
28 June 2019, 19:22

According to the U.S. Energy Information Administration's (EIA) latest monthly report released Friday, crude oil production in the U.S. rose 246,000 barrels per day to 12.162 million barrels per day in April.
Crude oil didn't react to this publication and the barrel of West Texas Intermediate was last seen trading at $59.40, adding 0.23% on the day. Below are some key takeaways from the report as published by Reuters.
"U.S. total oil demand in April up 0.9% or 171,000 bpd versus last year at 20.112 mln bpd (vs 1.8% fall in March)."
"U.S. April gasoline demand up 1.8% or 169,000 bpd versus last year at 9.356 mln bpd (vs 2.9% fall in March)."
"U.S. total refined oil product exports rose to 3.348 mln bpd in April (vs 3.154 mln bpd in March)."
"U.S. liquefied petroleum gas exports rise to 1.692 mln bpd in April (vs 1.431 mln bpd in March)."
"U.S. April distillates demand down 4.2% or 174,000 bpd versus last year at 3.98 mln bpd (vs 0.3 pct fall in March)."
persistence and determination alone are omnipotent
  • #2,299
  • Jun 28, 2019 2:02pm Jun 28, 2019 2:02pm
Quoting Ll1979
EIA: US CRUDE OIL PRODUCTION ROSE 246,000 BPD IN APRIL TO 12.162 MILLION BPD 28 June 2019, 19:22 According to the U.S. Energy Information Administration's (EIA) latest monthly report released Friday, crude oil production in the U.S. rose 246,000 barrels per day to 12.162 million barrels per day in April. Crude oil didn't react to this publication and the barrel of West Texas Intermediate was last seen trading at $59.40, adding 0.23% on the day. Below are some key takeaways from the report as published by Reuters. "U.S. total oil demand in April...
Tanking!!!!
I don't need to be good at the game, only good enough to beat my opponent,
  • #2,300
  • Jun 28, 2019 2:37pm Jun 28, 2019 2:37pm
Quoting Ll1979
Killed my shorts
Did you stay in?
I've just moved stops close as think we will retrace a bit from here.
I am but a small fish in a large pond
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