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WTI Crude Oil Trading

  • #4,981
  • Nov 12, 2019 9:17am Nov 12, 2019 9:17am
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yes yes yes
  • #4,982
  • Nov 12, 2019 11:31am Nov 12, 2019 11:31am
Quoting luckyvictor
Sell limit order trigger, sell at 57.20
Out for now, close at 56.80.

Support is seen at 56.60, will see what happen tomorrow
  • #4,983
  • Nov 12, 2019 11:41am Nov 12, 2019 11:41am
Quoting auricforecas
{quote} Just took a quit dive But it was extremely risky... it went to s... (up) before it went down... got something (added 5.1%) that is not bad, but too high risk... So awaiting correction and then we shall enter DOUBLE.. one for low-risk... in my trendsurfing thread.. and other for high-risk, should opportunity presents itself.. in CHEETAH thread... This trade that I just closed, see in my TE in my profile.. could (from now on) potential be grandslam homerun, but I can not afford to take that chance at this market conditions... And when...
Well yeah, in retrospect, I exited the trade too early, but not clear market conditions to me atm.. must admit that... At least not after some cycle is complete that I am waiting for... It should be very clear, very fast, from that point... judging by past experiences... But always ready for surprises... Would still look forward for south... just need some form of (re)confirmation before I enter massively.. specially at higher leverage...
Can you afford to take that chance?
  • #4,984
  • Nov 12, 2019 4:27pm Nov 12, 2019 4:27pm
WTI has been tough to call. I'm not a big technical guy, but prices tend to retrace 50% more times than not eventually. I'm flat WTI so take this with a grain of salt. I'm just pointing out that we've hit that 50% mark between the highs after the Saudi attacks and the lows in early Oct. It'll be interesting to see if this is resistance or becomes support. Good luck out there!
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We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #4,985
  • Nov 13, 2019 5:08am Nov 13, 2019 5:08am
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yes yes yes
  • #4,986
  • Edited 10:39am Nov 13, 2019 9:30am | Edited 10:39am
WTI oil hovers around 57.20, the price that j sell yesterday, and unlike yesterday it didn't get the overshot.

It is an interesting point itself, however due to Powell and the API later, no position is open, if the price moves away (bias is down), then will start selling.

Ok, almost after I posted this, it started to go up and now at 57.50
  • #4,987
  • Nov 13, 2019 9:36am Nov 13, 2019 9:36am
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yes yes yes
  • #4,988
  • Nov 13, 2019 4:23pm Nov 13, 2019 4:23pm
Quoting detector
{quote} A, I like it LOL, as you know we can get it wrong, my belief is only for "us" couldn't think better than us all agreeing and beating this into the ground with profits, maybe we should have a poster meter rather than indicator meter, collectively we can do this, D
happy to inform you that cycles that I was talking about (see the quote above and quotes within it...) are now complete.. so will start to model/trade this market much harder.. if all goes well Just need for this week to stabilise the market, after heavy consolidation that was delayed.... and we might see the fresh picture next week... I hope it will re-establish previous SOUTH views... So very exciting atm
Can you afford to take that chance?
  • #4,989
  • Nov 13, 2019 8:37pm Nov 13, 2019 8:37pm
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yes yes yes
  • #4,990
  • Nov 13, 2019 10:49pm Nov 13, 2019 10:49pm
Usually I rely on the news of the country with the forex pair I want to trade. WTI and BRENT, which news do you rely on to look at its trend? please
  • #4,991
  • Nov 14, 2019 3:21am Nov 14, 2019 3:21am
Some resistance is seen at the level 57.70, may short from here, let's give it some time
  • #4,992
  • Nov 14, 2019 4:38am Nov 14, 2019 4:38am
OPEC: Forecast for 2020 global oil demand growth unchanged at 1.08 million bpd or 1%
14 November 2019, 14:15

The Organization of the Petroleum Exporting Countries (OPEC) in its latest report announced that it left its forecast for 2020 global oil demand growth unchanged at 1%, or 1.08 million barrels per day (bpd).
Crude oil is clinging to modest daily gains after OPEC's publication with the barrel of West Texas Intermediate adding 0.6% on the day at $57.70. Below are some additional key takeaways, per Reuters.
"2020 surplus of 70,000 bpd if OPEC keeps production at November's rate, down from 340,000 bpd surplus in September report."
"Non-opec supply to rise by 2.17M bpd in 2020, down 40,000 bpd from the previous forecast."
"October oil output rose by 943,000 bpd m/m to 29.65M bpd as Saudi supply recovered from September attacks."
"Saudi Arabia raised October crude output to 10.303M bpd, up 1.174M bpd m/m."
"Expects 2020 demand for its crude averaging 29.58M bpd, steady vs. previous forecast of 29.57M bpd."
"OECD oil inventories fell in September and stood 28 million barrels above latest 5-year average."
persistence and determination alone are omnipotent
  • #4,993
  • Nov 14, 2019 5:14am Nov 14, 2019 5:14am
WTI looks like it is leaving the wedge going sideways, which could leave it range bound. Without some important news, its seems unlikely to break upward.
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  • #4,994
  • Nov 14, 2019 5:16am Nov 14, 2019 5:16am
Quoting Powter
Usually I rely on the news of the country with the forex pair I want to trade. WTI and BRENT, which news do you rely on to look at its trend? please
They typically move more or less synchronized rather than separately. See Ll1979 post.
  • #4,995
  • Nov 14, 2019 8:02am Nov 14, 2019 8:02am
RT Economic Alerts
#EIA Wkly Est 11/8/2019:
Prod: 12.8M bpd +1.59%
Ref Inp: 15.92M bpd +0.98%
Crude: +2.2M bbl
Gas: +1.9M bbl
Dist: -2.4M bbl Crude
Imp: 5.75M bpd -5.38%
Crude Exp: 2.63M bpd +11.05%
Cushing: -1.2M bbl -2.52%
persistence and determination alone are omnipotent
  • #4,996
  • Edited 8:29am Nov 14, 2019 8:14am | Edited 8:29am
Selling start, will look for an entry now

Short 57.20, not ideal, but it didn't bounce a little
  • #4,997
  • Nov 14, 2019 8:52am Nov 14, 2019 8:52am
Hello all, just be cautious, the hourly has not given any reason to sell, anomaly showing, this could easily bounce back, daily is showing the signs of a turn,D
EDIT
138 bars back on the hourly, similar development with regard to volume activity (for reference)
I don't need to be good at the game, only good enough to beat my opponent,
  • #4,998
  • Nov 14, 2019 9:12am Nov 14, 2019 9:12am
Quoting detector
Hello all, just be cautious, the hourly has not given any reason to sell, anomaly showing, this could easily bounce back, daily is showing the signs of a turn,D EDIT 138 bars back on the hourly, similar development with regard to volume activity (for reference)
There is still a strong resistance around 56.90, and the next level is 56.20.
  • #4,999
  • Nov 14, 2019 9:22am Nov 14, 2019 9:22am
Quoting luckyvictor
{quote} There is still a strong resistance around 56.90, and the next level is 56.20.
As always LV, just be vigilant, I'm not in WTI, anything that has news and should be down should be treat with caution, I use indicators only, seemingly a little mixed, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #5,000
  • Nov 14, 2019 9:26am Nov 14, 2019 9:26am
Quoting luckyvictor
{quote} There is still a strong resistance around 56.90, and the next level is 56.20.
i see strong support around 56.80
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