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WTI Crude Oil Trading

  • #5,481
  • Dec 11, 2019 10:27am Dec 11, 2019 10:27am
Quoting LCForex
{quote} No champ missed for 4 cents
Damn Are you still holding your short? Another opportunity to short is in the making
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persistence and determination alone are omnipotent
  • #5,482
  • Dec 11, 2019 10:30am Dec 11, 2019 10:30am
Don't forget to calculate the broker spreads into your exits. On oil, during times of high volume/liquidity, its narrows down to about 4 cents above and below price quotes, which is the Midpoint price! Bake that into your entries as well and you'll eliminate some drawdown and improve the trade. Just my 2 cents. Great trade nonetheless.

sjc
  • #5,483
  • Dec 11, 2019 10:36am Dec 11, 2019 10:36am
Quoting Coondawg71
Don't forget to calculate the broker spreads into your exits. On oil, during times of high volume/liquidity, its narrows down to about 4 cents above and below price quotes, which is the Midpoint price! Bake that into your entries as well and you'll eliminate some drawdown and improve the trade. Just my 2 cents. Great trade nonetheless. sjc
Great point that's why i switched to futures. Round trips of 5 till 8 (CFD) compared to 2 Futures was an easy choice.
The downside is to this is a bigger account (to safely manage risks) since every tick is $10 per contract
persistence and determination alone are omnipotent
  • #5,484
  • Dec 11, 2019 10:46am Dec 11, 2019 10:46am
Quoting Ll1979
{quote} Damn Are you still holding your short? Another opportunity to short is in the making {image}
not sure what comes next
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persistence and determination alone are omnipotent
  • #5,485
  • Dec 11, 2019 1:04pm Dec 11, 2019 1:04pm
Quoting Ll1979
{quote} Damn Are you still holding your short? Another opportunity to short is in the making {image}
I just was able to see market. What a pullback! i will try to close at 58.50. I am still bearsih till 57.30 more or less
Don't believe me just watch!
  • #5,486
  • Dec 11, 2019 1:10pm Dec 11, 2019 1:10pm
Quoting LCForex
{quote} I just was able to see market. What a pullback! i will try to close at 58.50. I am still bearsih till 57.30 more or less
I am waiting for a break @ 58,64 area
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persistence and determination alone are omnipotent
  • #5,487
  • Dec 11, 2019 6:04pm Dec 11, 2019 6:04pm
Quoting Ll1979
{quote} Great point that's why i switched to futures. Round trips of 5 till 8 (CFD) compared to 2 Futures was an easy choice. The downside is to this is a bigger account (to safely manage risks) since every tick is $10 per contract
Yep, that's the downside to futures. Futures are better all around except for the fact your position size is way bigger so you can't really trade them with a small account. Heck, even with a big account you're going to want to be sure you know what you're doing since the nominal value you're risking is significant.
Self-sufficiency is the greatest of all wealth. - Epicurus
  • #5,488
  • Dec 11, 2019 7:33pm Dec 11, 2019 7:33pm
It's very surprising the WTI came back the way it did after the sell of on the EIA inventory data.
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We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #5,489
  • Dec 11, 2019 8:20pm Dec 11, 2019 8:20pm
Quoting EventsTrader
It's very surprising the WTI came back the way it did after the sell of on the EIA inventory data. {image}
$63 on brent supported despite weak inventories. this is reflective of a trending up mkt possibly but it needs to go past 64.30 to reach next level of 66. overall weak dollar / strong S&P / OPEC cuts .. so makes sense.
  • #5,490
  • Dec 12, 2019 12:35am Dec 12, 2019 12:35am
Inserted Video
persistence and determination alone are omnipotent
  • #5,491
  • Dec 12, 2019 2:50am Dec 12, 2019 2:50am
still holding my short position
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I trade like the banks
  • #5,492
  • Dec 12, 2019 6:09am Dec 12, 2019 6:09am
OIL15min
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Don't believe me just watch!
  • #5,493
  • Dec 12, 2019 8:07am Dec 12, 2019 8:07am
Lots of Indecision, staying out for now
  • #5,494
  • Dec 12, 2019 12:04pm Dec 12, 2019 12:04pm
In a little bit of longer time frame getting close to resistance
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  • #5,495
  • Edited 6:44pm Dec 12, 2019 4:03pm | Edited 6:44pm
Nice to $%&)F%&(u%/(&%(%c&(/)&/(=ked, but that is trading yesterday +1600 euros then closed a trade at BE and then under waters. All cool!!! As we stay below 59.82 I am happy. So I entered again earlier and now stop at BE. So possible targets, if everything is alright, are: 58.00, 57.47/67, 56.95. When market opens I am going to change tp to 58.10.
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Don't believe me just watch!
  • #5,496
  • Dec 12, 2019 8:26pm Dec 12, 2019 8:26pm
The price of WTI seems to reflect that the market is buying into the rumors that there will be a trade deal and tariffs avoided. I'm not so sure on that. We've only heard from one side. Actually we've only heard from the Trump camp. It could be positioning to shift blame before delivering the bad news tomorrow after the close. The closer we get to the close tomorrow the more inclined I'd be to get out of any longs before the close.
We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #5,497
  • Dec 13, 2019 8:40am Dec 13, 2019 8:40am
China press conference in next 20 minutes. Deal Delay?
Don't believe me just watch!
  • #5,498
  • Dec 13, 2019 9:48am Dec 13, 2019 9:48am
OIL4H
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Don't believe me just watch!
  • #5,499
  • Dec 13, 2019 11:25am Dec 13, 2019 11:25am
WTI HITS FRESH THREE-MONTH HIGHS ABOVE $60.00 BUT THEN RETREATS
13 December 2019, 19:16

 

  1. Crude oil holds to daily gains, off highs.
  2. US-China agreement offered support to WTI that heads for the highest close since mid-October.

Crude oil prices peaked following the agreement between the US and China regarding trade by signing the Phase One Trade Agreement. The barrel of West Texas Intermediate jumped to $60.45, the highest level since September 17 and then pulled back. As of writing trades at $59.95, up 1.20% for the day, about to post highest weekly close since July.
Prices extended the rally after confirmation of a deal between the US and China. But the optimism faded amid lack of details surrounding the agreement and prices pulled back. Still, the trend points to the upside. Also, the improvement in risk appetite following the results of the UK elections offered support. At 18:00 GMT the Baker Hughes US Oil Rig Count report will be released.
From a technical perspective, while above $59.30 the bullish bias remains intact. The next strong resistance area might be seen at $60.50 and $61.00 (July highs). The momentum is still there, particularly if it holds above $60.00.

persistence and determination alone are omnipotent
  • #5,500
  • Dec 13, 2019 12:14pm Dec 13, 2019 12:14pm
united states baker hughes us oil rig count increased to 667 from previous 663
persistence and determination alone are omnipotent
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