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Private Island Traders

  • #381
  • Oct 20, 2019 11:16pm Oct 20, 2019 11:16pm
Quoting Ll1979
{quote} Wti gives some conflicting values from both a technical and fundamental point if view.
I'm having a difficult time thinking of a bullish fundamental case for WTI. Geopolitical strife couldn't keep WTI up and longer-term between shale and lower global growth it seems pretty bearish. The only bullish factor I can think of is Baker Hughes rig count keeps trending lower so I suppose US production is slowing some at least.

I've said this before, but I think traders underappreciate the havoc a recession would cause to oil companies. $25 WTI is a realistic possibility and then just watch what that does to the energy industry. If you believe a recession is coming then shorting oil companies might be the best bet out there.
Self-sufficiency is the greatest of all wealth. - Epicurus
  • #382
  • Oct 20, 2019 11:43pm Oct 20, 2019 11:43pm
Quoting Ef5
{quote} I'm having a difficult time thinking of a bullish fundamental case for WTI. Geopolitical strife couldn't keep WTI up and longer-term between shale and lower global growth it seems pretty bearish. The only bullish factor I can think of is Baker Hughes rig count keeps trending lower so I suppose US production is slowing some at least. I've said this before, but I think traders underappreciate the havoc a recession would cause to oil companies. $25 WTI is a realistic possibility and then just watch what that does to the energy industry. If...
I join your vision (WTI is bearish) but learned the hard way the market is always right

Some bullish fundamentals which might have lead to higher prices.

  1. Weaker US Dollar
  2. Refinery usage China indicates more demand

persistence and determination alone are omnipotent
  • #383
  • Oct 20, 2019 11:47pm Oct 20, 2019 11:47pm
Quoting Ll1979
Refinery usage China indicates more demand
Chinese refinery usage sounds like a very useful indicator. Do you know if the data for that is publically available anywhere?
Self-sufficiency is the greatest of all wealth. - Epicurus
  • #384
  • Oct 21, 2019 12:48am Oct 21, 2019 12:48am
No trading today, looking at the Dow, is the price heading towards 26200, unless good news, think this is the next stop according to the chart, good trading all, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #385
  • Oct 21, 2019 12:59am Oct 21, 2019 12:59am
Quoting Ef5
{quote} Chinese refinery usage sounds like a very useful indicator. Do you know if the data for that is publically available anywhere?
I got the info from a CME video. Other news sources didn't gave the info.
persistence and determination alone are omnipotent
  • #386
  • Oct 21, 2019 11:55am Oct 21, 2019 11:55am
Hello all, was going to keep out the markets for the time but seen an opportunity in EUR/USD to short (speculative) 1.11510, any thoughts, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #387
  • Oct 21, 2019 12:11pm Oct 21, 2019 12:11pm
Quoting detector
Hello all, was going to keep out the markets for the time but seen an opportunity in EUR/USD to short (speculative) 1.11510, any thoughts, D
Hi D,

Hope your EU works out. Hope you'll get a retest on H1
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persistence and determination alone are omnipotent
  • #388
  • Oct 21, 2019 12:16pm Oct 21, 2019 12:16pm
Quoting Ll1979
{quote} Hi D, Hope your EU works out. Hope you'll get a retest on H1 {image}
Thanks Li, the 4hr out of the park and looks to be coming back in, the 1hr showing the way, may see a pull up from here but chart says down or pullback,
like the chart Li, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #389
  • Oct 21, 2019 1:56pm Oct 21, 2019 1:56pm
Quoting detector
Hello all, was going to keep out the markets for the time but seen an opportunity in EUR/USD to short (speculative) 1.11510, any thoughts, D
EU moving a little in the right direction, feel the rise could warrant the retrace, tarket a mental one for now if it goes, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #390
  • Oct 21, 2019 2:59pm Oct 21, 2019 2:59pm
Is EU going back to 1.10600, the daily has shown a similar pattern of reversing from the 200ma, any thoughts of this happening again from this point, would love to hear, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #391
  • Oct 21, 2019 3:35pm Oct 21, 2019 3:35pm
Opened speculative sell GBP/USD 1.29575, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #392
  • Oct 21, 2019 3:47pm Oct 21, 2019 3:47pm
Quoting detector
Opened speculative sell GBP/USD 1.29575, D
Is not speculative, is the only way ...to 1.20
  • #393
  • Oct 21, 2019 3:52pm Oct 21, 2019 3:52pm
Quoting RobyTurboSS
{quote} Is not speculative, is the only way ...to 1.20
It's the brexit thing RT its turning organic to wild at the mo, I'm not averaging out, trying to catch the cliff edge, sometime it works, sometimes a little DD, timing is not quite there yet, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #394
  • Oct 21, 2019 3:54pm Oct 21, 2019 3:54pm
your timing is good ...31 oct will have GBP ready to be bought below 1.20...
  • #395
  • Oct 21, 2019 4:00pm Oct 21, 2019 4:00pm
Quoting RobyTurboSS
your timing is good ...31 oct will have GBP ready to be bought below 1.20...
I'll be waiting for that opportunity RT, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #396
  • Oct 21, 2019 4:37pm Oct 21, 2019 4:37pm
Closed both positions out, EU gapped down, GU in slight loss, combined small profit so closed due to uncertainty, as I explained in a previous post, I'm not averaging out so expect some kind of move, with little expectation, I'm out, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #397
  • Oct 21, 2019 5:02pm Oct 21, 2019 5:02pm
Good night all, speak tomorrow, keeping things low key on the brexit runup, good chess all,keep them moves tight,D
I don't need to be good at the game, only good enough to beat my opponent,
  • #398
  • Oct 21, 2019 5:11pm Oct 21, 2019 5:11pm
Quoting detector
Closed both positions out, EU gapped down, GU in slight loss, combined small profit so closed due to uncertainty, as I explained in a previous post, I'm not averaging out so expect some kind of move, with little expectation, I'm out, D
Probably prove me wrong and fall, notice the second bar in, gapped down,D
Attached Image
I don't need to be good at the game, only good enough to beat my opponent,
  • #399
  • Oct 22, 2019 6:27am Oct 22, 2019 6:27am
Quoting detector
{quote} Probably prove me wrong and fall, notice the second bar in, gapped down,D {image}
timing was a little early but good to know it went in my projected direction,D
I don't need to be good at the game, only good enough to beat my opponent,
  • #400
  • Oct 22, 2019 6:35am Oct 22, 2019 6:35am
Long USDCAD @ 1.3085
cluster area of support + fib & camarilla pivot support
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persistence and determination alone are omnipotent
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