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WTI Crude Oil Trading

  • #5,301
  • Nov 29, 2019 10:43am Nov 29, 2019 10:43am
Quoting detector
{quote} Last level of buying 55.80
Whats your exit?


Anyone else have any insight?
  • #5,302
  • Nov 29, 2019 11:11am Nov 29, 2019 11:11am
Quoting GPBurdell
{quote} Whats your exit? Anyone else have any insight?
I have shorted from 58 and 57.30 and 57, but closed them at 56.70 and 56.40 ( though this was a double bottom to end this huge drop).

It is now at 55.40 so apparently I have missed a lot, but no regret, can't predict the market anyway.

I now have 55 and 54 buy limited order in place, if not 55.70 buy stop.
  • #5,303
  • Nov 29, 2019 11:12am Nov 29, 2019 11:12am
I didn't expect this kind of a move today. This is the biggest one day drop in a few months.

WTI just fell out of bed.
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We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #5,304
  • Nov 29, 2019 12:02pm Nov 29, 2019 12:02pm
Heard news that Iraq's PM has resigned increasing chances the country's oil output will increase to prior levels and raising global supplies.

That may be the reason for the big drop today.
  • #5,305
  • Nov 29, 2019 12:04pm Nov 29, 2019 12:04pm
RUSSIA'S NOVAK: WOULD RATHER TAKE DECISION ON OUTPUT EXTENSION CLOSE TO APRIL
29 November 2019, 16:57

Russian Energy Minister Alexander Novak said that he favoured OPEC and its non-OPEC allies to make a decision on whether to extend the crude oil production curb agreement closer to the group's meeting in April next year, Russian news agency TASS reported on Friday.
Crude oil prices continued to push lower on these comments and the barrel of West Texas Intermediate was last seen trading at $56.50, erasing 2.8% on a daily basis.
"Gas condensate accounts for 7-8% of Russia's total oil production," Novak further added.
persistence and determination alone are omnipotent
  • #5,306
  • Edited 5:38pm Nov 29, 2019 5:23pm | Edited 5:38pm
A new Red Arrow followed by a plunge of ~300 pips on heaviest volume in Nov. Jan contract.
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  • #5,307
  • Edited 1:22am Nov 30, 2019 12:49am | Edited 1:22am
It could be my cynical mind but if you want to manipulate the markets best time is when everyone in on holiday.

It's think it's called manipualysis lol

The double top target was around 55.70, I have a support level at 55.27 so that's my key level for Monday

Spooky line for Monday
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All charts/ideas based on UK time zone
  • #5,308
  • Nov 30, 2019 2:14am Nov 30, 2019 2:14am
Quoting sponge
It could be my cynical mind but if you want to manipulate the markets best time is when everyone in on holiday. It's think it's called manipualysis lol The double top target was around 55.70, I have a support level at 55.27 so that's my key level for Monday Spooky line for Monday {image}
sponge, buddy

I like your way of thinking critically, acting as the mind of a manipulator.
I've myself convinced on this for the most parts, wouldn't be the strangest going on in these markets, right?
  • #5,309
  • Nov 30, 2019 2:34am Nov 30, 2019 2:34am
Inserted Video
persistence and determination alone are omnipotent
  • #5,310
  • Nov 30, 2019 8:21am Nov 30, 2019 8:21am
An analytical little 'funny' this weekend.

Hope for a smile or even laugh
We're looking back at the activity of this thread recent week and the price graph of the highlight
Enjoy OIL crew!
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  • #5,311
  • Edited 8:51am Nov 30, 2019 8:35am | Edited 8:51am
Funny numero dos

'My face when: Heading into a new month with buy positions'
'When you expected a cozy early Christmas low-vola market vibes'
Hahaha
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  • #5,312
  • Nov 30, 2019 10:09am Nov 30, 2019 10:09am
Quoting GPBurdell
{quote} Whats your exit? Anyone else have any insight?
GPB, well, after being told the market wasn't closing early then it did, I called my broker who closed out my trades at the last printed price, I wasn't wanting to hold over the weekend but my intention was for a snap back or some distance between my position then would have closed a portion out and held, my target was unknown, I see this still going up on the weekly so bought in or around the last level of buying that previously rose the price, that all said, I closed at a loss, will wait for Sunday for re-entry, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #5,313
  • Nov 30, 2019 10:12am Nov 30, 2019 10:12am
Quoting Lekkim
An analytical little 'funny' this weekend. Hope for a smile or even laugh We're looking back at the activity of this thread recent week and the price graph of the highlight Enjoy OIL crew! {image}
Lek, is the pun, am I a "lucky cat"
D
I don't need to be good at the game, only good enough to beat my opponent,
  • #5,314
  • Nov 30, 2019 10:30am Nov 30, 2019 10:30am
Quoting detector
{quote} Lek, is the pun, am I a "lucky cat" D
I notice I made it wrong regarding your call Switch your pictures from before and after and u got it hah
I need a good night rest soon I guess
  • #5,315
  • Nov 30, 2019 11:11am Nov 30, 2019 11:11am
Inserted Video

0:00 low activity markets seem's to be in an agreement between price levels
'The two cowboys / bear and bull are at peace with each other'

0:20 NATGAS AND OIL: HOLD MY BEER
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  • #5,316
  • Nov 30, 2019 8:46pm Nov 30, 2019 8:46pm
H4 perspective......H1 right shoulder got invalidated and price dipped back lower but still bullish on the long term.....bounce off of the H1 following bearish sentiment failed to push prices higher will look at what the H1 begins to do leading up to Monday’s London session......
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4&1 All Time Profit: $37,496
  • #5,317
  • Dec 1, 2019 1:34am Dec 1, 2019 1:34am
Quoting Lekkim
https://www.youtube.com/watch?v=gfkts0u-m6w 0:00 low activity markets seem's to be in an agreement between price levels 'The two cowboys / bear and bull are at peace with each other' 0:20 NATGAS AND OIL: HOLD MY BEER {image}
Lekkim, I'm guessing your system did not show any volume divergence prior to the drop ?

Looking back I have possible divergence 27/11 8am / 28/11 4pm ?

I don't think the cowboys are at peace given the divergence that exists at the moment ?

I appreciate holiday volume is never good for analysis but...
All charts/ideas based on UK time zone
  • #5,318
  • Dec 1, 2019 2:07am Dec 1, 2019 2:07am
Quoting sponge
{quote} Lekkim, I'm guessing your system did not show any volume divergence prior to the drop ? Looking back I have possible divergence 27/11 8am / 28/11 4pm ? I don't think the cowboys are at peace given the divergence that exists at the moment ? I appreciate holiday volume is never good for analysis but...
It did predict but I didn't myself traded oil, I just commented on some calls in this thread (I just don't want to show off) haha
Better to let other look back and confirm potential profitability
  • #5,319
  • Edited 1:01pm Dec 1, 2019 10:55am | Edited 1:01pm
Check out this current year (2019) graph correlation between OIL and larget OIL STOCKS
(oil black colour and companies all other colours)

So in a year where indices rose OIL shares didn't, what should be made of this?
Either OIl shares are undervalued or else something is looking dire - which could pull down OIL price (and add the importance of the price of oil in these companies, public media focus on climate and green energy etc)
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  • #5,320
  • Dec 1, 2019 12:38pm Dec 1, 2019 12:38pm
Quoting Lekkim
Check out this current year (2019) graph correlation between OIL and larget OIL STOCKS {image}
If anyone wants help to set up a template like the one above, let me know
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