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WTI Crude Oil Trading

  • #5,561
  • Dec 19, 2019 10:12am Dec 19, 2019 10:12am
WTI making a stellar rise, have 61. 70 rising res line (Daily), I'm not trading but expected another high at least before a fall, D
EDIT
Apologies, weekly
I don't need to be good at the game, only good enough to beat my opponent,
  • #5,562
  • Dec 19, 2019 10:51am Dec 19, 2019 10:51am
OIL pivot 60.76
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Don't believe me just watch!
  • #5,563
  • Dec 19, 2019 2:04pm Dec 19, 2019 2:04pm
Quoting SinkMarkets
{quote} WTI found the top...buyers are exhausted ... i expect a 10% drop and really fast ...till Xmas
agreed oil over extended on multiple time frames
  • #5,564
  • Dec 19, 2019 4:26pm Dec 19, 2019 4:26pm
As expected. Volume in CME's CL contract came down and it's looking like liquidity has fleed the markets until after the holidays.
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We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #5,565
  • Dec 20, 2019 12:19am Dec 20, 2019 12:19am
Quoting EventsTrader
As expected. Volume in CME's CL contract came down and it's looking like liquidity has fleed the markets until after the holidays. {image}
Nice bud...
Just looking at the daily chart thinking with the overhead resistance and yesterdays rejection from the right hand shoulder level may offer a possible bearish flag dip but thats not to say we wont continue tagging higher, until we get a series of lower lows and lower highs on the H1 the head structure may still get challenged...


We wait and follow price action....
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4&1 All Time Profit: $37,496
  • #5,566
  • Dec 20, 2019 1:21am Dec 20, 2019 1:21am
Quoting MzansiObi
{quote} Nice bud... Just looking at the daily chart thinking with the overhead resistance and yesterdays rejection from the right hand shoulder level may offer a possible bearish flag dip but thats not to say we wont continue tagging higher, until we get a series of lower lows and lower highs on the H1 the head structure may still get challenged... We wait and follow price action.... {image} {image}
was looking at the daily charts yest .. this $6 rally in 11 trading days seems to be the break out move needed to break out of the daily trending line since Oct-18 .. if so a pull-bk to 64 +/- should be bought by mkt ... but if today gets a nasty sell leading to bearish pin on weekly then things might change .. lets see
  • #5,567
  • Dec 20, 2019 3:35am Dec 20, 2019 3:35am
Quoting prashfx
{quote} was looking at the daily charts yest .. this $6 rally in 11 trading days seems to be the break out move needed to break out of the daily trending line since Oct-18 .. if so a pull-bk to 64 +/- should be bought by mkt ... but if today gets a nasty sell leading to bearish pin on weekly then things might change .. lets see
Hey Prash yeah it may just be bud...but tons of confluence around the current handle to support a possible bearish reversal, think its best we just try and follow the bug guys...

EventsTrader has already pointed out a diminishing volume with every leg up of late so lets see how it plays out
4&1 All Time Profit: $37,496
  • #5,568
  • Dec 20, 2019 3:51am Dec 20, 2019 3:51am
Quoting MzansiObi
{quote} Hey Prash yeah it may just be bud...but tons of confluence around the current handle to support a possible bearish reversal, think its best we just try and follow the bug guys... EventsTrader has already pointed out a diminishing volume with every leg up of late so lets see how it plays out
yes. higher chances it will sell off from 66-67 or 68-69 bk to 64 +/-. i am mostly always interested in judging whether we can get a sustained possible multi-month rally on crude hence mentioned abt that break-out. if it falls and gets support at 64 +/- then we talking abt a possible sustained rally here -- ingredients in terms of weak dollar / bullish stock mkts / opec cuts are already there.

personally i sold some brent calendar spreads yesterday. will sell more today.
  • #5,569
  • Dec 20, 2019 5:04am Dec 20, 2019 5:04am
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persistence and determination alone are omnipotent
  • #5,570
  • Dec 20, 2019 8:38am Dec 20, 2019 8:38am
Indicators turned on the hourly, looks like this could be falling if it holds, next target could be the 200 ma 59.80 only my opinion.
EDIT
Think I would see the hour out for confirmation, be here before and bounced however indicators now negative, again, only my opinion.
I don't need to be good at the game, only good enough to beat my opponent,
  • #5,571
  • Dec 20, 2019 8:40am Dec 20, 2019 8:40am
It’s so hard for wti to go down. Still feels like it’s going against the current
  • #5,572
  • Dec 20, 2019 8:44am Dec 20, 2019 8:44am
Quoting Kwame Freder
It’s so hard for wti to go down. Still feels like it’s going against the current
Agree, playing games is not being ruled out, hence I'm out, could make a bad Christmas to be caught, caution, I'm a "wished I had been it" & "phew, glad I never took the position" tourist ATM.
I don't need to be good at the game, only good enough to beat my opponent,
  • #5,573
  • Dec 20, 2019 9:28am Dec 20, 2019 9:28am
Hope you all get your results, looks like "wished I was in is" is winning, good luck, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #5,574
  • Dec 20, 2019 9:36am Dec 20, 2019 9:36am
Closed my short for a few, feels like a bounce is coming, so sideline for me
  • #5,575
  • Dec 20, 2019 10:12am Dec 20, 2019 10:12am
more room to the downside i think...mean reversion
  • #5,576
  • Dec 20, 2019 11:21am Dec 20, 2019 11:21am
OIL
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Don't believe me just watch!
  • #5,577
  • Dec 20, 2019 12:53pm Dec 20, 2019 12:53pm
I bought the book "trading in the zone" but I never really got into it I was too busy with my own ideas, anyway I think Mark Douglas has a wealth of experience and his 4 part videos are worth a look if only to confirm you are being shagged every day ha

Part 3

Inserted Video
All charts/ideas based on UK time zone
  • #5,578
  • Dec 20, 2019 12:55pm Dec 20, 2019 12:55pm
Quoting sponge
I bought the book "trading in the zone" but I never really got into it I was too busy with my own ideas, anyway I think Mark Douglas has a wealth of experience and his 4 part videos are worth a look if only to confirm you are being shagged every day ha Part 3 https://www.youtube.com/watch?v=6i4xPdCQ-L8
Hey Sponge how are you, hope your good, going to try and get a skype going in the holidays with the Islanders, will we be seeing you, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #5,579
  • Dec 20, 2019 2:11pm Dec 20, 2019 2:11pm
Quoting detector
{quote} Hey Sponge how are you, hope your good, going to try and get a skype going in the holidays with the Islanders, will we be seeing you, D
Traders can't agree.

Skype group? well I think all will need to sing in the same key ...not easy, too many variables

Happy to give it a try if all agree to follow and evolve the same system

No sense if we are all firing from different angles...we'll be all over the place ha
All charts/ideas based on UK time zone
  • #5,580
  • Dec 20, 2019 2:29pm Dec 20, 2019 2:29pm
Quoting sponge
{quote} I don't think it's swing trading , more like Peak trading
I decided to close all trades on the demo swing/peak thingy, will be continuing possibly live in the new year

The trades were opened and closed (mostly) by checking once each morning, that's what I like about this method but it's early days...

Seemed to predict GBP, EUR and AUD quite well, biggest loser was EURJPY which gave a sell signal I ignored and paid the price
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All charts/ideas based on UK time zone
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