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Sweet, sweet Oil

  • #501
  • Dec 18, 2018 5:23am Dec 18, 2018 5:23am
I think API Weekly Crude Oil stock will decide the next destination of the Commodity
  • #502
  • Dec 24, 2018 2:08pm Dec 24, 2018 2:08pm
How's those cheaper entries going for you down 6% today
  • #503
  • Dec 29, 2018 4:47am Dec 29, 2018 4:47am
BUY on RED (MAJOR) / GRAY (MINOR) : possible BOTTOM
SELL on GREEN (MAJOR) / BLUE (MINOR) : possible TOP
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We err, and err, and err again, but less.
  • #504
  • Dec 29, 2018 12:15pm Dec 29, 2018 12:15pm
Hi Dweb,

What's your indicator and set up please?

Thank you,
  • #505
  • Jan 5, 2019 6:19am Jan 5, 2019 6:19am
BRNT Weekly & Daily
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We err, and err, and err again, but less.
  • #506
  • Jan 5, 2019 6:21am Jan 5, 2019 6:21am
Quoting Degsie
Hi Dweb, What's your indicator and set up please? Thank you,
Hi Degsie, custom tools, cant share.
We err, and err, and err again, but less.
  • #507
  • Jan 5, 2019 5:52pm Jan 5, 2019 5:52pm
Oil its fairly easy to trade if you know the fundamentals; you dont even need a "strategy" with indicators and all that crap, just basic support/resistance and know when its going to move, thats it

Actually its easier than forex
  • #508
  • Feb 3, 2019 7:16am Feb 3, 2019 7:16am
Quoting EcoTrader
How's those cheaper entries going for you down 6% today
Very good, actually - all my longs between 44 and 54 came to profit.

I switched to NGAS this week.

Happy trading...
  • #509
  • Feb 4, 2019 4:02pm Feb 4, 2019 4:02pm
For scalping, ribbon indi helps well.
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  • #510
  • Aug 15, 2019 3:22pm Aug 15, 2019 3:22pm
Based on the crude inventory data the past few weeks I’m going to start reviewing my strategy to trade it early next week. I think that should give me time before Wednesday rolls around.

The forecasts have been way off recently so I’d bet this next one is trade-able too. Anybody else want to contribute opinions about this next one?
  • #511
  • Aug 15, 2019 3:57pm Aug 15, 2019 3:57pm
Quoting helgastrxd
Anybody else want to contribute opinions about this next one?


I'm looking to predict the number and already be in a position when the data drops. That's what you're thinking? Or looking for more of a straddle?
  • #512
  • Aug 15, 2019 11:21pm Aug 15, 2019 11:21pm
Quoting helgastrxd
Based on the crude inventory data the past few weeks I’m going to start reviewing my strategy to trade it early next week. I think that should give me time before Wednesday rolls around. The forecasts have been way off recently so I’d bet this next one is trade-able too. Anybody else want to contribute opinions about this next one?
API, the day prior, should give us a better idea about what to expect. I'll be looking at it closer next week.

Monday, Russia's unemployment figures come out. It's one of the most closely watched out of Russia and could move crude, but short-term. All assets risk-related are at the mercy of the US-China trade way, ECB unscheduled announcements, Brexit, and don't forget about Iran tensions.

Tomorrow, we have OPEC's monthly report. It's usually a non-event though.
We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #513
  • Aug 15, 2019 11:44pm Aug 15, 2019 11:44pm
True
  • #514
  • Aug 16, 2019 1:10am Aug 16, 2019 1:10am
I'm still in this long position from last week. My confidence level is pretty low, but WTI does look like it wants to rally.

Anybody have some conviction on this market?
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  • #515
  • Aug 16, 2019 7:33am Aug 16, 2019 7:33am
Quoting Goat
{quote} I'm looking to predict the number and already be in a position when the data drops. That's what you're thinking? Or looking for more of a straddle?
I was at least going to take the straddle route as I am expecting the forecast to be off again.

Depending on what happens leading up to the release day I may ditch one side of the trade and give myself a bit of breathing room on the stop though. I’m not sure what size I’ll go in at yet either.

Quoting Goat
I'm still in this long position from last week. My confidence level is pretty low, but WTI does look like it wants to rally. Anybody have some conviction on this market? {image}
My only input right now is be careful with long term crude long positions..
  • #516
  • Aug 16, 2019 7:36am Aug 16, 2019 7:36am
Quoting EventsTrader
{quote} API, the day prior, should give us a better idea about what to expect. I'll be looking at it closer next week. Monday, Russia's unemployment figures come out. It's one of the most closely watched out of Russia and could move crude, but short-term. All assets risk-related are at the mercy of the US-China trade way, ECB unscheduled announcements, Brexit, and don't forget about Iran tensions. Tomorrow, we have OPEC's monthly report. It's usually a non-event though.
I hadn’t thought about Russia unemployment, thanks for the tip!

There are definitely a lot of other factors at play that’s why I won’t be opening my position until just before the release. I don’t want exposure to the rest of it at the moment.
  • #517
  • Aug 18, 2019 3:40pm Aug 18, 2019 3:40pm
We might be opening higher from this Iran stuff over the weekend!!

Quoting helgastrxd
{quote} I was at least going to take the straddle route as I am expecting the forecast to be off again.


You're on your own with the straddles but I'll be cheering from the sidelines!

I haven't thrown an order into a explosive market since getting burned on a fed statement back in 2009. Scars man, scars.
  • #518
  • Edited 11:06am Aug 19, 2019 10:06am | Edited 11:06am
No Iran drama yet, but rhetoric is increasing: https://www.reuters.com/article/us-m...-idUSKCN1V90G2

Maybe soon....
  • #519
  • Aug 19, 2019 2:16pm Aug 19, 2019 2:16pm
Has anyone else noticed how deep CL is in backwardation?

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That seems pretty bearish if you ask me. Definitely not pricing in any conflicts or other supply shortages. I did see OPEC is forecasting a glut into 2021, but I'm a little surprised to see traders pricing in a 10% drop over the next two years.
Self-sufficiency is the greatest of all wealth. - Epicurus
  • #520
  • Aug 19, 2019 2:32pm Aug 19, 2019 2:32pm
Quoting Ef5
Has anyone else noticed how deep CL is in backwardation? {image} That seems pretty bearish if you ask me. Definitely not pricing in any conflicts or other supply shortages. I did see OPEC is forecasting a glut into 2021, but I'm a little surprised to see traders pricing in a 10% drop over the next two years.
Yup. I think this is about pricing in the global slowdown more than anything. Here's a look through the September 2020 contract.
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We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
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