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WTI Crude Oil Trading

  • #4,061
  • Sep 26, 2019 8:06am Sep 26, 2019 8:06am
Quoting detector
{quote} Li, taken a speculative long, not my preferred direction, from a bounce perspective, tight stop, 5min chart,D
Could be a costly mistake but dipped under the rising trend line, looking for a bounce above then a rise, all speculative of course, D
EDIT
May have some volume coming in, indicators changing, may get the bounce, fear we may be going to -55, all at a transition at the mo,
I don't need to be good at the game, only good enough to beat my opponent,
  • #4,062
  • Sep 26, 2019 8:16am Sep 26, 2019 8:16am
Quoting detector
{quote} Could be a costly mistake but dipped under the rising trend line, looking for a bounce above then a rise, all speculative of course, D EDIT May have some volume coming in, indicators changing, may get the bounce, fear we may be going to -55, all at a transition at the mo,
Time will tell my friend. If price hold current levels we have a bullish divergence.
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persistence and determination alone are omnipotent
  • #4,063
  • Sep 26, 2019 8:18am Sep 26, 2019 8:18am
Quoting detector
{quote} Could be a costly mistake but dipped under the rising trend line, looking for a bounce above then a rise, all speculative of course, D EDIT May have some volume coming in, indicators changing, may get the bounce, fear we may be going to -55, all at a transition at the mo,
The rising trend line will act as either resistance until it breaks, or support, currently just under so worst case a possible BE,
I don't need to be good at the game, only good enough to beat my opponent,
  • #4,064
  • Edited 8:34am Sep 26, 2019 8:20am | Edited 8:34am
Quoting Ll1979
{quote} Time will tell my friend. If price hold current levels we have a bullish divergence. {image}
Could be at consolidation level, the chart is a little bias to down, but feel this level could bring speculative buying, as you say "time"DEDIT
20MA proving hard to beat, volume ticking a bit though.
EDIT
if it goes, 56 target
I don't need to be good at the game, only good enough to beat my opponent,
  • #4,065
  • Sep 26, 2019 8:34am Sep 26, 2019 8:34am
WTI EXTENDS SLIDE, DROPS TO FRESH 10-DAY LOWS NEAR MID-$55S
26 September 2019, 18:20

 

  1. Recovering oil production in Saudi Arabia continue to weigh on crude oil prices.
  2. Crude oil stocks in the United States rose more than expected last week.
  3. The positive impact of trade optimism on crude oil prices stays limited.

Crude oil prices staged a late recovery and closed the day virtually unchanged on Wednesday but struggled to gain traction on Thursday as markets continue to price the faster-than-expected recovery in Saudi Arabia's crude oil production following the missile and drone attacks, which caused a sharp spike in prices earlier this month.
Inventory report weighs on crude oil
Additionally, the weekly crude oil market report published by the Energy Information Administration (EIA) revealed that crude oil stocks in the United States (US) increased 2.4 million barrels for the week ending September 23rd to make it even more difficult for prices to push higher.
The barrel of West Texas Intermediate (WTI) stretched lower on Thursday and touched its lowest level since September 16th at $55.40. As of writing, the WTI is trading at $55.65, erasing 1.8% on a daily basis.
On the other hand, Chinese Commerce Ministry Spokesman Gao told reporters that they were preparing for making progress in trade negotiations with the US next month in Washington. Nevertheless, the positive impact of this development on crude oil was relatively limited.

persistence and determination alone are omnipotent
  • #4,066
  • Sep 26, 2019 8:36am Sep 26, 2019 8:36am
Quoting Ll1979
{quote} Time will tell my friend. If price hold current levels we have a bullish divergence. {image}
H1 already gave a bullish divergence and a possible engulfing (needs to be confirmed on candle close)
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persistence and determination alone are omnipotent
  • #4,067
  • Sep 26, 2019 8:41am Sep 26, 2019 8:41am
Will be looking for negative volume coming in around key areas, seems current volume positive,
EDIT
If the drop off comes looking for the 20ma to support, just hoping this is the real deal LOL, will be looking to take some opportunist profit, not missing it this time, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #4,068
  • Sep 26, 2019 8:55am Sep 26, 2019 8:55am
Quoting Ll1979
WTI EXTENDS SLIDE, DROPS TO FRESH 10-DAY LOWS NEAR MID-$55S 26 September 2019, 18:20 Recovering oil production in Saudi Arabia continue to weigh on crude oil prices. Crude oil stocks in the United States rose more than expected last week. The positive impact of trade optimism on crude oil prices stays limited. Crude oil prices staged a late recovery and closed the day virtually unchanged on Wednesday but struggled to gain traction on Thursday as markets continue to price the faster-than-expected recovery in Saudi Arabia's crude oil production following...
Figure the news may not cause a spike, more position building, if it's going to work a spike would give the game away, not that I'm comfortable being long but $55-60 is about fair game for a target, the logic would be, everything else is high, oil moving along in conjunction, I'm just trading it, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #4,069
  • Sep 26, 2019 9:17am Sep 26, 2019 9:17am
20&40 MA's forming, so its going to rise or reject, seems there is no selling volume, will be interesting, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #4,070
  • Sep 26, 2019 9:26am Sep 26, 2019 9:26am
[quote = detector; 12526531] 20&40 MA's forming, so its going to rise or reject, seems there is no selling volume, will be interesting, D [/ quote]


Where can you see the volume well? The volume of MT4 are ticks.

.
  • #4,071
  • Sep 26, 2019 9:31am Sep 26, 2019 9:31am
Quoting Suryananda
[quote = detector; 12526531] Se están formando 20 y 40 MA, por lo que va a aumentar o rechazar, parece que no hay volumen de ventas, será interesante, D [/ quote] Where can you see the volume well? The volume of MT4 are ticks. .
Yeah your right, I'm basing the basic MT4 vol indicator, on the 5min min it's more a spike in activity, in general the more activity at the lows or highs gives credence for a turn, this is only how I determine, not necessarily others may see it this way but open any chart and look for the turns, then reference volume, hope this helps, D
EDIT
S, bring up the 5min chart and volume, see the spike were seeing now in price, the interesting part is what they both say when the bar closes, organic buying or selling at the top
I don't need to be good at the game, only good enough to beat my opponent,
  • #4,072
  • Sep 26, 2019 9:53am Sep 26, 2019 9:53am
Quoting Suryananda
[quote = detector; 12526531] 20&40 MA's forming, so its going to rise or reject, seems there is no selling volume, will be interesting, D [/ quote] Where can you see the volume well? The volume of MT4 are ticks. .
Does it make any sense Suryanada?, not that it's a given, but a guide alongside other indi's, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #4,073
  • Sep 26, 2019 10:02am Sep 26, 2019 10:02am
Closed long for an opportunist profit, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #4,074
  • Sep 26, 2019 10:14am Sep 26, 2019 10:14am
Keeping an eye for a possible re-entry, will reduce lot size though, using the rising sup line for guidance, using volume and price, should actually substitute the word buy/sell volume for "activity", D
I don't need to be good at the game, only good enough to beat my opponent,
  • #4,075
  • Sep 26, 2019 10:43am Sep 26, 2019 10:43am
In again @55.74, small long, D
EDIT
Nothing in the way of activity at this level,no great spikes at the previous closed position either, I have a thought the price going to 54.50 and expected some activity at there (even number or half way), it still may happen hence my reduced position, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #4,076
  • Sep 26, 2019 11:06am Sep 26, 2019 11:06am
Activity supporting the rise? nothing major but it could be organic buying, price will reveal all I suppose, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #4,077
  • Sep 26, 2019 11:14am Sep 26, 2019 11:14am
Quoting detector
Activity supporting the rise? nothing major but it could be organic buying, price will reveal all I suppose, D
Looking to break the 100 ma on the 5min, to go further, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #4,078
  • Sep 26, 2019 11:21am Sep 26, 2019 11:21am
Quoting detector
{quote} Looking to break the 100 ma on the 5min, to go further, D
Not convinced the activity spike will turn the price, looking at supported, expect min 56,50 then 57, just my opinion, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #4,079
  • Sep 26, 2019 11:27am Sep 26, 2019 11:27am
Quoting detector
{quote} Not convinced the activity spike will turn the price, looking at supported, expect min 56,50 then 57, just my opinion, D
The idea to re-enter paid off, will be closing at the best opp then done for the day, said I wouldn't post other trades but my long Dow showing profit, not wanting to over trade, so will say good night all, no more now, good chess Gals & Guys,D
I don't need to be good at the game, only good enough to beat my opponent,
  • #4,080
  • Sep 26, 2019 11:33am Sep 26, 2019 11:33am
Quoting detector
{quote} The idea to re-enter paid off, will be closing at the best opp then done for the day, said I wouldn't post other trades but my long Dow showing profit, not wanting to over trade, so will say good night all, no more now, good chess Gals & Guys,D
Nice profits and good night!
persistence and determination alone are omnipotent
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