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WTI Crude Oil Trading

  • #4,861
  • Nov 5, 2019 12:20pm Nov 5, 2019 12:20pm
I'd keep an eye on the $57 handle (CME CL front month). If it breaks, and it would need to be a clear break, WTI could have some room to the downside.
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This scenario played out yesterday. I probably waited too long (too conservative), but it was an easy ride to some quick profits. Here's the trade:
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We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #4,862
  • Nov 5, 2019 12:20pm Nov 5, 2019 12:20pm
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yes yes yes
  • #4,863
  • Nov 5, 2019 12:31pm Nov 5, 2019 12:31pm
It pains me to have to say I think this market is up, will be closing my short, (I wasn't supposed to be in) soon as, D
EDIT
56.80 could prove to be the bounce.
I don't need to be good at the game, only good enough to beat my opponent,
  • #4,864
  • Nov 5, 2019 12:37pm Nov 5, 2019 12:37pm
Long entry, speculative 57.22 think this could be somewhere near the bottom it may not hit my previous predicted price, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #4,865
  • Nov 5, 2019 12:59pm Nov 5, 2019 12:59pm
Quoting detector
It pains me to have to say I think this market is up, will be closing my short, (I wasn't supposed to be in) soon as, D EDIT 56.80 could prove to be the bounce.
Looking at 57.50+ and this could break out, already at the top boundaries, the volume is spiking a little, first thought selling, could be absorption, may have to ask Don Pato to give his take, he has an excellent thread discussing this, being new to this, have my doubts on the fall, I could be wrong, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #4,866
  • Nov 5, 2019 1:58pm Nov 5, 2019 1:58pm
Quoting timingchain
{quote} With equities in a strong bull run, oil is likely to continue bullish.
Best ever
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All charts/ideas based on UK time zone
  • #4,867
  • Nov 5, 2019 2:10pm Nov 5, 2019 2:10pm
Quoting detector
{quote} Looking at 57.50+ and this could break out, already at the top boundaries, the volume is spiking a little, first thought selling, could be absorption, may have to ask Don Pato to give his take, he has an excellent thread discussing this, being new to this, have my doubts on the fall, I could be wrong, D
I see some abnormal volume near 57.25, I am shorting it, and it is speculative
  • #4,868
  • Nov 5, 2019 2:14pm Nov 5, 2019 2:14pm
Quoting luckyvictor
{quote} I see some abnormal volume near 57.25, I am shorting it, and it is speculative
LV, never easy when there is a conflict of positions/views, good luck, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #4,869
  • Nov 5, 2019 2:36pm Nov 5, 2019 2:36pm
Ahoy Li, is there any correlation with NAT GAS & WTI, I know this is a favourite of yours,cheers D.
I don't need to be good at the game, only good enough to beat my opponent,
  • #4,870
  • Nov 5, 2019 2:48pm Nov 5, 2019 2:48pm
Quoting detector
Ahoy Li, is there any correlation with NAT GAS & WTI, I know this is a favourite of yours,cheers D.
Not that i am aware of but found some background info:

https://www.cmegroup.com/education/a...es-linked.html
persistence and determination alone are omnipotent
  • #4,871
  • Nov 5, 2019 3:13pm Nov 5, 2019 3:13pm
Quoting Ll1979
{quote} Not that i am aware of but found some background info: https://www.cmegroup.com/education/a...es-linked.html
Excellent Li, thank you, on patter recognition, after the decoupling, they seem to to still move, albeit at different volatility, but tandem, would you agree, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #4,872
  • Nov 5, 2019 3:41pm Nov 5, 2019 3:41pm
The hourly break is approaching, last two bars on the 5min gapped down so looking for a potential rise from here, will make a decision before the break to hold close or cover, D
gap up now on the 5min, EH!!
I don't need to be good at the game, only good enough to beat my opponent,
  • #4,873
  • Nov 5, 2019 4:09pm Nov 5, 2019 4:09pm
Oil and equities continue their bull runs, driven by huge quantities of fiat money. The Fed's balance sheet soars above $4 trillion: Up $250 billion since repo crisis one month ago.
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  • #4,874
  • Nov 5, 2019 4:16pm Nov 5, 2019 4:16pm
Quoting sponge
{quote} Best ever {image}
I buy shortbread biscuits here in the Excited States that come from Scotland, but I have my doubts that it is the very best that Scotland can do.
  • #4,875
  • Nov 5, 2019 4:16pm Nov 5, 2019 4:16pm
Quoting detector
The hourly break is approaching, last two bars on the 5min gapped down so looking for a potential rise from here, will make a decision before the break to hold close or cover, D gap up now on the 5min, EH!!
Closed with a view to opening when the break finishes, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #4,876
  • Nov 5, 2019 4:22pm Nov 5, 2019 4:22pm
Here is a question for all: Do you think chart patterns are reliable when CBs around the world are spraying out huge quantities of their various fiat currencies to keep the rigged game alive?

Another question: How does one create a defensive offensive plan?
  • #4,877
  • Nov 5, 2019 5:16pm Nov 5, 2019 5:16pm
Quoting timingchain
Here is a question for all: Do you think chart patterns are reliable when CBs around the world are spraying out huge quantities of their various fiat currencies to keep the rigged game alive? Another question: How does one create a defensive offensive plan?
TC, I'm very ill educated in this department but I do see the chart, in a tongue and cheek way, conventional patterns can be exploited in the same way Dorothy seen the wizard, it wasn't until she went behind the curtain the real answer was apparent, defensive offensive, I could be wrong, the Big Short, not sure if you watched this, Christian Bale, (as the character) realised the consequences of the banks giving money away irresponsibly and what it was creating, the endgame was very sad, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #4,878
  • Nov 5, 2019 5:42pm Nov 5, 2019 5:42pm
Quoting detector
{quote} Closed with a view to opening when the break finishes, D
Reopened long 57.18
I don't need to be good at the game, only good enough to beat my opponent,
  • #4,879
  • Nov 5, 2019 5:43pm Nov 5, 2019 5:43pm
Epic, almost crazy opportunity for shorting, would just be carefull for the next week, since corrections at place, but then, full short
Can you afford to take that chance?
  • #4,880
  • Nov 5, 2019 10:15pm Nov 5, 2019 10:15pm
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yes yes yes
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