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WTI Crude Oil Trading

  • #4,281
  • Oct 8, 2019 8:51am Oct 8, 2019 8:51am
Quoting sponge
I still have a bull head on, I'll switch sub 51.90, on the side for now
Stay short another 24 hours ,till tomorrow OIL inventories news....you might buy at 50.00 or close to it.POWELL will speak right after Oil news .
  • #4,282
  • Oct 8, 2019 9:08am Oct 8, 2019 9:08am
Quoting EventsTrader
{quote} ...Bloomberg's economists median and mean price predictions are higher than prices are now. Here's NYMEX WTI price predictions through from Q4 2019 thru Q1 20201:{image} Here's the forecasts from each bank/economists viewed on a graph. You'll notice even $55 is a lot lower than the average and very few predict we'll go lower...
The rule of thumb is always go opposite Bloomberg and Goldman.
  • #4,283
  • Oct 8, 2019 9:20am Oct 8, 2019 9:20am
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yes yes yes
  • #4,284
  • Oct 8, 2019 9:35am Oct 8, 2019 9:35am
Inserted Video
persistence and determination alone are omnipotent
  • #4,285
  • Edited 11:10am Oct 8, 2019 9:53am | Edited 11:10am
It's doing my head in but at least I managed to break even .

The dog is biting my leg for his morning walk ...it's 3:30 pm here ha

Edit ..I think 53.64 will come about again

Edit ...sorry I meant 52.64 which was last Fridays pivot.
Attached Image
All charts/ideas based on UK time zone
  • #4,286
  • Oct 8, 2019 11:55am Oct 8, 2019 11:55am
EIA lowered 2019 global oil demand growth forecast by 50,000 bpd
8 October 2019, 19:07

The United States Energy Information Administration (EIA) on Tuesday announced that it cut its global oil demand growth estimate for 2019 by 50,000 barrels per day (bpd) to 0.84 million bpd. The EIA also cut its 2020 world oil demand growth forecast by 100,000 barrels per day to 1.30 million bpd, per Reuters.
Crude oil prices edged lower on these headlines and the barrel of West Texas Intermediate (WTI) was last seen trading at $52.20, losing a little over 1% on a daily basis.
persistence and determination alone are omnipotent
  • #4,287
  • Oct 8, 2019 12:04pm Oct 8, 2019 12:04pm
Quoting Ll1979
EIA lowered 2019 global oil demand growth forecast by 50,000 bpd 8 October 2019, 19:07 The United States Energy Information Administration (EIA) on Tuesday announced that it cut its global oil demand growth estimate for 2019 by 50,000 barrels per day (bpd) to 0.84 million bpd. The EIA also cut its 2020 world oil demand growth forecast by 100,000 barrels per day to 1.30 million bpd, per Reuters. Crude oil prices edged lower on these headlines and the barrel of West Texas Intermediate (WTI) was last seen trading at $52.20, losing a little over 1%...
Where are we going LI ?

I fancy longing it over 52.50 ... news could skew
All charts/ideas based on UK time zone
  • #4,288
  • Oct 8, 2019 12:13pm Oct 8, 2019 12:13pm
Quoting sponge
{quote} Approaching first target at 53.70 I think this is critical for the bulls ...a good morning so far Trying this indi out this morning it gave a good signal on the 4 hour chart. Web site says it doesn't re-paint some on FF says it does {file} {image}
Latest signal H4, I won't post any more lets just see how it goes
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All charts/ideas based on UK time zone
  • #4,289
  • Oct 8, 2019 12:31pm Oct 8, 2019 12:31pm
Quoting sponge
{quote} Where are we going LI ? I fancy longing it over 52.50 ... news could skew
Haven't followed the markets Sponge as am i ill. I just provide some quick news items to support the forum. Hope when i am recovered i could show some more market insights.
persistence and determination alone are omnipotent
  • #4,290
  • Oct 8, 2019 12:40pm Oct 8, 2019 12:40pm
Quoting Ll1979
{quote} Haven't followed the markets Sponge as am i ill. I just provide some quick news items to support the forum. Hope when i am recovered i could show some more market insights.
I sincerely hope it's nothing serious Li

Best wishes.
All charts/ideas based on UK time zone
  • #4,291
  • Oct 8, 2019 1:32pm Oct 8, 2019 1:32pm
Short Crude @52.65 (second entry).
  • #4,292
  • Oct 8, 2019 1:37pm Oct 8, 2019 1:37pm
Quoting RobyTurboSS
Short Crude @52.65 (second entry).
"All the information of any investment instrument encoded to a single number"

Is it possible ?
All charts/ideas based on UK time zone
  • #4,293
  • Oct 8, 2019 1:37pm Oct 8, 2019 1:37pm
Quoting sponge
{quote} I sincerely hope it's nothing serious Li Best wishes.
It's just fever and some cold sympthoms. Thnx for your concerns buddy.
persistence and determination alone are omnipotent
  • #4,294
  • Oct 8, 2019 1:45pm Oct 8, 2019 1:45pm
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yes yes yes
  • #4,295
  • Oct 8, 2019 2:04pm Oct 8, 2019 2:04pm
Quoting Moty
{image}
Glad we are of similar thoughts, this time
Inserted Video
Can you afford to take that chance?
  • #4,296
  • Oct 8, 2019 2:59pm Oct 8, 2019 2:59pm
Quoting RobyTurboSS
{quote} Yep, and the entire market adding the numbers of single instruments...Dreams come true if you believe in Magick of Mathematics.{image}
See what you did there

Btw... I have been observing markets for 10+ years... And I have come down to a conclusion that there are bascaily 2-3 parameters... controlling the whole market(s)...
The rest of them are just noise or temp effect, self-fulfiling rules/prophecies that do work some of the time... so chaotically... And of course some news do work/impact.. for some time.. But in the longrun we are like 1-2parameters.. And yes, noone is mentioning much.. I can tell you that it is OUTSIDE of trading itself... It is possible that some do "see" it while trading but is seeing just some reflection/logic of much greater mechanism/picture...

Of course I might be wrong It is not confirmed as of yet, well do not know if it will ever be, the most I hope for is a high prob number, so high that would be almost in the impossible (to ignore) region, but it is hard to isolate.. as you know too many have this falacy... believe to quickly, make assumptions, connections...

Just some philosophic thoughts, do not want to pursue this further atm.. But IF I'm right... the market(s), at least long-term.. could very well be driven by ONE leading PARAMETER...

To add some meat/juice/test to this... OIL going SOUTH no matter what they do basically.. Or you know, flipping burgers...
Can you afford to take that chance?
  • #4,297
  • Oct 8, 2019 4:17pm Oct 8, 2019 4:17pm
Quoting sponge
{quote} "All the information of any investment instrument encoded to a single number" Is it possible ?
yes, if enough digits are used.
  • #4,298
  • Oct 8, 2019 4:22pm Oct 8, 2019 4:22pm
Downtrend from October remains intact. Maybe a few days resting here.
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  • #4,299
  • Oct 8, 2019 7:38pm Oct 8, 2019 7:38pm
EIA inventory data is right around the corner. If you'd like to check out my preview, I just posted it here: EIA Weekly Petroleum Data - Oct 9th Preview

As always, good luck!!
We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #4,300
  • Oct 8, 2019 8:34pm Oct 8, 2019 8:34pm
Quoting RobyTurboSS
{quote} Unsigned int 8 bits 3 Digits number
So how many output states can the algo generate?
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