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WTI Crude Oil Trading

  • #5,621
  • Dec 27, 2019 8:34am Dec 27, 2019 8:34am
sellers in this zone ~ 61.90, still expecting it to push through.
  • #5,622
  • Dec 29, 2019 11:23am Dec 29, 2019 11:23am
Inserted Video
persistence and determination alone are omnipotent
  • #5,623
  • Dec 29, 2019 1:15pm Dec 29, 2019 1:15pm
Quoting Ll1979
https://youtu.be/YvL4juBhKOM
Hello Li, hope your well, looking for push high and to take a speculative short, indicators showing a little weakness, think gold is showing similar signs, still tyring to keep it all dry for the newyear though, so going to be a tough one trying to sit on my hands, going to send you a PM, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #5,624
  • Dec 29, 2019 1:27pm Dec 29, 2019 1:27pm
Quoting joemilly
Discussion about crude oil sound interesting here .......i just switched off from currency trading to crude oil since december last year...since then i found out crude oil is more fun rather than ccy...lets discuss here as im still learning abt the behaviour of crude oil.....
No. Oil is inversely correlated with USDCAD. As USDCAD goes up oil should go do. And the inverse it's true.
  • #5,625
  • Dec 29, 2019 2:42pm Dec 29, 2019 2:42pm
Quoting InfiniteG
{quote} No. Oil is inversely correlated with USDCAD. As USDCAD goes up oil should go do. And the inverse it's true.
Us Oil is in?? us dollars

usd goes down = oil is cheap = corps/instos/banks buy oil.

does that mean WE the retail donkeys should buy Oil right now today? possibly IF other values of oil are bullish too OR IF the banks have completed there accumulation process. How do we know when that is? ahhh something ya rsi and moving averages wont tell you

Trading takes years of hard work and good education. Amazingly simple when you get it youll kick yourself. But unless you get each part correct you are gambling.
  • #5,626
  • Dec 29, 2019 9:52pm Dec 29, 2019 9:52pm
Negative divergence 4H Frame
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  • #5,627
  • Dec 29, 2019 11:24pm Dec 29, 2019 11:24pm
Quoting basim66
Negative divergence 4H Frame {image} {image}
Hey B....Agreed


Here are my thoughts on the direction of this cross...

PrashFX mentioned some key levels on Brent that are worth looking at, will be looking to get long on every dip opportunity that provides an opportunity so long as we don't get below the 60.78 on crude oil and 66.61 on brent....lets see if the bearish RSI divergence can push prices towards that entry area...


Green Week to you...
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4&1 All Time Profit: $37,496
  • #5,628
  • Dec 30, 2019 2:40am Dec 30, 2019 2:40am
Quoting detector
{quote} Hello Li, hope your well, looking for push high and to take a speculative short, indicators showing a little weakness, think gold is showing similar signs, still tyring to keep it all dry for the newyear though, so going to be a tough one trying to sit on my hands, going to send you a PM, D
Wise decision to keep it dry market lacks volume at the moment. Send you a pm back
persistence and determination alone are omnipotent
  • #5,629
  • Dec 30, 2019 5:59am Dec 30, 2019 5:59am
Wow looking like 63/64 could be on the cards this week. May start the new year with a big rally
  • #5,630
  • Dec 30, 2019 6:31am Dec 30, 2019 6:31am
WTI advances beyond $62 on rising tensions in Middle East
30 December 2019, 14:37

 

  1. Tensions in Middle East escalate following US air strikes in Syria and Iraq.
  2. Profit-taking ahead of year-end could trigger a drop in prices.

Crude oil prices continue to push higher at the start of the new week with the barrel of West Texas Intermediate rising above the $62 mark for the first time since mid-September. As of writing, the WTI was up 0.7% on a daily basis at $62.05.
Eyes on Middle East
Heightened geopolitical tensions in the Middle East and its potential impact on the oil supply after the US targeted five locations in Syria and Iraq linked to Iranian backed militia seem to be providing a boost to oil prices on Monday. In response to the US' airstrikes, "US military aggression against Iraqi soil and Iraqi forces is strongly condemned as a clear example of terrorism," Iranian Foreign Ministry spokesman Abbas Mousavi said.
However, the fact that the WTI gained more than 12% since the start of the month suggests that profit-taking before the end of the year could trigger a selloff.
Commenting on oil's activity, "oil prices have reached their highest level since the Saudi oilfield attack in mid-September" told Margaret Yang of CMC Markets to Reuters on Monday. "Traders are also cautious about profit-taking possibilities."
In the meantime, easing concerns over a protracted trade conflict between the US and China and heightened hopes of the global economy gathering recovery momentum led by a rebound in the manufacturing sector in world's leading economies could help crude oil start the new year on a positive note.
Furthermore, OPEC's commitment to balance the oil market by announcing additional output curbs earlier in December is likely to continue to support crude oil prices.

persistence and determination alone are omnipotent
  • #5,631
  • Dec 30, 2019 7:28am Dec 30, 2019 7:28am
Quoting Ll1979
{quote} Wise decision to keep it dry market lacks volume at the moment. Send you a pm back
Sorry I broke the rules Li, managed a short from 62, powder dry now and staying dry until normal serviceD
I don't need to be good at the game, only good enough to beat my opponent,
  • #5,632
  • Dec 30, 2019 8:35am Dec 30, 2019 8:35am
nice move down!
  • #5,633
  • Dec 30, 2019 9:57am Dec 30, 2019 9:57am
Quoting detector
{quote} Sorry I broke the rules Li, managed a short from 62, powder dry now and staying dry until normal serviceD
nice trades Buddy.

Seems wti was a rollercoaster ... missed it
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persistence and determination alone are omnipotent
  • #5,634
  • Dec 31, 2019 5:43am Dec 31, 2019 5:43am
I’m long bound looking for price to challenge the current structural high....will be patient with it.
the H1 200 handle will guide in whether or not I keep holding onto it...so far haven’t gotten an hourly close below it.....the moment we do will re-evaluate

Quoting Ll1979
{quote} nice trades Buddy. Seems wti was a rollercoaster ... missed it {image}
Have a look at USDCAD......recent oil gains strengthened CAD.....think we are in for some interesting moves in oil over the next couple of trading days....
4&1 All Time Profit: $37,496
  • #5,635
  • Dec 31, 2019 6:08am Dec 31, 2019 6:08am
Quoting MzansiObi
I’m long bound looking for price to challenge the current structural high....will be patient with it. the H1 200 handle will guide in whether or not I keep holding onto it...so far haven’t gotten an hourly close below it.....the moment we do will re-evaluate {quote} Have a look at USDCAD......recent oil gains strengthened CAD.....think we are in for some interesting moves in oil over the next couple of trading days....
Will have a look @ USDCAD. Always when i don't aspect much price movement on calm holidays i miss the action

Hope your long works out.

Looking for a possible long if conditions (higher low) are met on M4 chart.
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persistence and determination alone are omnipotent
  • #5,636
  • Dec 31, 2019 6:19am Dec 31, 2019 6:19am
Quoting Ll1979
{quote} nice trades Buddy. Seems wti was a rollercoaster ... missed it {image}
Thanks Li, would never have thought it would retrace so much, now either buying or shorts closing with the long wickes, if it continues it could hit 59 very easily, cheers D
I don't need to be good at the game, only good enough to beat my opponent,
  • #5,637
  • Dec 31, 2019 6:28am Dec 31, 2019 6:28am
Quoting detector
{quote} Thanks Li, would never have thought it would retrace so much, now either buying or shorts closing with the long wickes, if it continues it could hit 59 very easily, cheers D
Hi D hope you had a great evening last night. History repeats itself went for some groceries and missed it
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persistence and determination alone are omnipotent
  • #5,638
  • Dec 31, 2019 6:36am Dec 31, 2019 6:36am
Quoting Ll1979
{quote} Hi D hope you had a great evening last night. History repeats itself went for some groceries and missed it {image}
We did thank you, only was up all night with a trapped nerve in my shoulder, didn't realise pain so be so bad, will be doing it all again for the New Years eve party at the neighbours, might play on it and get waited on
Can still see some great opportunities while the price is at this level, the Dow also, seeing some volatility before year end, what we miss today we get tomorrow, looking forward to getting that Island next to you and SpongeD
I don't need to be good at the game, only good enough to beat my opponent,
  • #5,639
  • Dec 31, 2019 6:37am Dec 31, 2019 6:37am
Still think this will bounce
  • #5,640
  • Dec 31, 2019 6:45am Dec 31, 2019 6:45am
Quoting Kwame Freder
Still think this will bounce
Every chance, talk of 70 but cannot see it sustaining though, would say a spike at the very best.
I don't need to be good at the game, only good enough to beat my opponent,
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