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Sweet, sweet Oil

  • #621
  • Sep 10, 2019 9:42am Sep 10, 2019 9:42am
Quoting vpn
Took an impulsive buy limit order on the M30 because it felt right... was just filled:
My mistake, it wasn't filled!!
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So much for that trade!
  • #622
  • Sep 10, 2019 3:21pm Sep 10, 2019 3:21pm
IMO, That push today marks a short-term high. I think we will stay under that resistance level for the next week or so.
  • #623
  • Sep 10, 2019 8:18pm Sep 10, 2019 8:18pm
Crude making new session lows. Moving lower after the SFHE open.
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We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #624
  • Sep 10, 2019 10:07pm Sep 10, 2019 10:07pm
I for one was surprised to see WTI drop so much on Bolton's firing. Who knew there was a Bolton premium factored into the price?
Self-sufficiency is the greatest of all wealth. - Epicurus
  • #625
  • Sep 11, 2019 12:38am Sep 11, 2019 12:38am
Quoting EventsTrader
Crude making new session lows. Moving lower after the SFHE open. {image}
Finally!
  • #626
  • Sep 11, 2019 11:04am Sep 11, 2019 11:04am
Ok let see some place to look for a bounce. 53.60/54.60 and 50.50
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Don't believe me just watch!
  • #627
  • Edited 11:38am Sep 11, 2019 11:08am | Edited 11:38am
Look at that beaut! Attempting to catch a falling knife on the hourly...
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EDIT:
  • #628
  • Sep 11, 2019 11:22am Sep 11, 2019 11:22am
Quoting Ef5
I for one was surprised to see WTI drop so much on Bolton's firing. Who knew there was a Bolton premium factored into the price?
I guess it's good to know where each of his cabinet members stand on the issues. I read a few articles about Bolton and when it comes to the spectrum of war <---> peace... Bolton stands closer to the war side while Trump & Co are closer to the peace side. Seeing oil react this way makes a lot of sense now.

And for Trump to call him a hawk is saying something.
  • #629
  • Edited 3:14pm Sep 11, 2019 12:46pm | Edited 3:14pm
Well since they invented the shorting... it is good we can convert bitterness into sweetness
I wasn't so big in the oil before.. but this one seems almost like a freemoney now... specially after OPEC confirmed the south views...
Will think about it... Just out of precaution.. due to some upcoming high-impact news this week... won't enter any new trades this week... as my rule... in a times like this...
Can you afford to take that chance?
  • #630
  • Sep 11, 2019 3:09pm Sep 11, 2019 3:09pm
Quoting auricforecas
Well since they invented the shorting... it is good we can convert bitterness into sweetness I wasn't so big in the oil before.. but this one seems almost like a freemoney now... specially after OPEC confirmed the south views... Will think about it... Just out of precaution.. due to some upcoming high-impact news this week... wont't enter any new trades this week... as my rule... in a times like this...
Based on both the charts and recent fundamental developments, I can't see oil going up this week. One little tweet could change that though, and I think you know what I mean. I'm shorting medium term with some wider stops and catching any small moves in the meantime.
  • #631
  • Sep 11, 2019 7:03pm Sep 11, 2019 7:03pm
Quoting nastynatty
{quote} Based on both the charts and recent fundamental developments, I can't see oil going up this week. One little tweet could change that though, and I think you know what I mean. I'm shorting medium term with some wider stops and catching any small moves in the meantime.
I think that's the right move. Oil has had a good run lately, but it's in a downtrend. I think we'll be south of $50 soon.

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Self-sufficiency is the greatest of all wealth. - Epicurus
  • #632
  • Sep 12, 2019 2:16am Sep 12, 2019 2:16am
How does everybody think the ECB meeting/press conference will impact oil? I'm thinking we could see some price declines if the ECB signals growth is slowing. But if stimulus is significant, maybe it could limit any downside move. Perhaps be positive for oil. It's a tough one to call. I did a very thorough preview of the event and posted it here: ECB Meeting - September Preview
We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #633
  • Sep 12, 2019 5:24pm Sep 12, 2019 5:24pm
Quoting EventsTrader
How does everybody think the ECB meeting/press conference will impact oil? I'm thinking we could see some price declines if the ECB signals growth is slowing. But if stimulus is significant, maybe it could limit any downside move. Perhaps be positive for oil. It's a tough one to call. I did a very thorough preview of the event and posted it here: ECB Meeting - September Preview
Thanks ET! Seems like the ECB only had a marginal impact on WTI:

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The later US-China trade headlines are a bigger deal since WTI is directly affected by Chinese tariffs.
Self-sufficiency is the greatest of all wealth. - Epicurus
  • #634
  • Sep 12, 2019 5:59pm Sep 12, 2019 5:59pm
Quoting Ef5
{quote} Thanks ET! Seems like the ECB only had a marginal impact on WTI: {image} The later US-China trade headlines are a bigger deal since WTI is directly affected by Chinese tariffs.
WTI was falling and just like most other risk assets. Then, there was a complete reversal. It's most obvious by looking at the euro, but it was across quite a few different asset classes WTI being one of them. It was like a V-shape reversal.
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We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #635
  • Sep 13, 2019 1:44am Sep 13, 2019 1:44am
9/12
H:56.33
L:53.98

Currently, there looks like there's some heaviness.
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  • #636
  • Sep 15, 2019 11:59pm Sep 15, 2019 11:59pm
Over the past couple hours, Crude (CL) and Gold (GC) have had an uncharacteristically high correlation. I expect this to breakdown once the market takes a direction. Crude in red/green and Gold in purple.
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We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #637
  • Sep 16, 2019 2:49pm Sep 16, 2019 2:49pm
Thank's for sharing that correlation ET!

I was surprised we didn't see more of a correction after the 19% spike at the open!

There was Trump releasing our reserves, and the whole world it seemed like they were consoling the markets, and they would do their coordinated best, to "stabilize" prices.

I get it now... stabilize prices above $60
  • #638
  • Sep 16, 2019 4:24pm Sep 16, 2019 4:24pm
Uncertainty abounds! I encourage everyone to keep positions tight either way since there is no telling where this thing is going. Have fun, make some money if you can but PLEASE limit your risk. Who knows what the next domino to drop will be.
  • #639
  • Sep 16, 2019 9:09pm Sep 16, 2019 9:09pm
Anyone know what caused that spike in WTI? Pretty heavy buy volume too.
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We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #640
  • Sep 18, 2019 8:22pm Sep 18, 2019 8:22pm
After the gap my analysis is telling me we need to go back to 55.40 and wait for a bounce there and I will reanalysis that if we are developing a bull trend or we could still see some surprises as 47.27
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Don't believe me just watch!
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