Attachments: WTI Crude Oil Trading

WTI Crude Oil Trading

#6,161
Jan 23, 2020 10:35am Jan 23, 2020 10:35am

Ll1979
Joined Dec 2008 | Status: Trader | 2,931 Posts

Quoting Up-trend

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{quote} Yes! I agree... But in one it is considered good, in another it is considered bad! In other distillate data also very good, but WTI did not take off. Well ... I think WTI found the bottom.

Ignored

With the inventory numbers anything could happen -> expect the unexpected (current numbers are a bit in line with expectations -> bigger offsets can trigger bigger price movements)

That's correct

in the upper one draw is better then expected -> bullish for oil (meaning less storage)
in the lower one draw is less then expected -> bearish for oil (meaning more storage then expected)

persistence and determination alone are omnipotent

#6,162
Jan 23, 2020 11:20am Jan 23, 2020 11:20am

Ll1979
Joined Dec 2008 | Status: Trader | 2,931 Posts

WTI recovers toward mid-$55s after EIA reports decline in US crude oil stocks
23 January 2020, 19:17

OPEC's Barkindo says it's too early to talk about extending output cuts.
EIA report shows small drop in commercial crude oil inventories.
Concerns over coronavirus becoming a global epidemic weigh on sentiment.

Crude oil prices pushed lower for the fourth straight day on Thursday with the barrel of West Texas Intermediate (WTI) slumping to its lowest level since early November at $54.75.
Fears over coronavirus becoming a global epidemic and its potential negative impact on oil demand continue to weigh on prices.
Latest on coronavirus: Beijing cancels Chinese New Year temple fairs, suspected case in Scotland.
In addition to the dismal market mood, OPEC Secretary-General Mohammad Barkindo's remarks put additional weight on the WTI's shoulders. Barkindo said that it was too early to talk about a possible extension to the OPEC+ output cut deal until the end of 2020.
EIA data helps WTI rebound
However, the weekly report published by the Energy Information Administration (EIA) revealed that commercial crude oil inventories in the US fell by 0.4 million barrels in the week ending January 17th, compared to analysts' estimate for a drop of 1 million barrels, to allow the WTI to stage a recovery. As of writing, the WTI was still down 1.17% on the day at $55.40.
On Friday, Baker Hughes Energy Services will release the US Oil Rig Count. Markets will be keeping a close eye on the developments surrounding the coronavirus as well.

persistence and determination alone are omnipotent

#6,163
Jan 23, 2020 11:45am Jan 23, 2020 11:45am

renNstimpy
| Joined Nov 2019 | Status: Trader | 344 Posts

Re-entering 54.91 SL 54.6x

rennstimp

#6,164
Jan 23, 2020 11:46am Jan 23, 2020 11:46am

Ll1979
Joined Dec 2008 | Status: Trader | 2,931 Posts

Quoting renNstimpy

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Re-entering 54.92 SL 54.5x

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On what time frame do you trade renNstimpy?

persistence and determination alone are omnipotent

#6,165
Jan 23, 2020 11:47am Jan 23, 2020 11:47am

auricforecas
Joined Sep 2017 | Status: Still a total mystery | 3,569 Posts

Quoting detector

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{quote} Auric, presented with some awkward situations with WTI, sometimes a coin toss can bring us better results, market is playing a smart game and working the position for the benefit is trying us, cheers, D

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Quoting auricforecas

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{quote} Totally agree. There might be something good about this but too soon to tell, remind me in few weeks if you want and I'll tell. You might also have a potential to up the game, more in few weeks/months, ask if you will feel like it. Atm still waiting is, actively

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Quoting auricforecas

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{quote} {quote} Getting closer to that conclusion, although not confirmed... As you can see (maybe) in retrospect, we were SPOT on.. but were temporary paused due to (un)known BUMP/counter... but so far, in most of the times, if not every time... those anomalies are then heavily paid for/off You see how it went exactly where we wanted, just with some delay... so as far as PRICE PREDICTION happens within a reasonable time... You get the rest... But nothing conclusive as of yet, just saying... I take my predictions seriously and I follow...

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Seems much more clearer what it was going on, maybe... It should go DOWN (south) on 17th.. but something... was pushing it up.. and MOST of the time in this scenarios, for the past 10years that I have been trading/observing.. it meant heavy penalty afterwards... As you can see... (one of the explanation only of course, but the one that still sticks in my book) it went maybe FAKE up.. but then it lost the steam and it dropped so much now, due to previously being maintained on the wrong basis... That might be true... Will know soon maybe... When doing ANOTHER trades (after this one rolls out, still rolling btw), much more intense... Already have CRAZY profit potential..

Guys you could also check how almost 1900%/trade was possible in ONE trade yesterday (and still tracking), check here with all the previous posts/quotes related to it in that thread.

Can you afford to take that chance?

#6,166
Edited 2:09pm Jan 23, 2020 11:48am | Edited 2:09pm

renNstimpy
| Joined Nov 2019 | Status: Trader | 344 Posts

Quoting Ll1979

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{quote} On what time frame do you trade renNstimpy?

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5-15m candles for intra / longs obviously vary

Used to go 3m and sometimes will check 3m charts but feels way too coin toss in my experience

rennstimp

#6,167
Jan 23, 2020 11:50am Jan 23, 2020 11:50am

renNstimpy
| Joined Nov 2019 | Status: Trader | 344 Posts

Quoting renNstimpy

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Re-entering 54.91 SL 54.6x

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Also target 55.1x

rennstimp

#6,168
Jan 23, 2020 12:37pm Jan 23, 2020 12:37pm

detector
Joined Dec 2017 | Status: Trader | 3,743 Posts

Looks to me the daily is going to 53, how it gets there could be a mystery, but looking like it on the chart, seem you all had a good day today, I missed it again, to top it, closed my short, fool was right, I closed out on the turn

but we all know our limits to close, that was just mine, D

I don't need to be good at the game, only good enough to beat my opponent,

#6,169
Jan 23, 2020 12:54pm Jan 23, 2020 12:54pm

fool
| Joined Jan 2020 | Status: none | 75 Posts

[quote=detector;12718162] I missed it again, to top it, closed my short, fool was right, I closed out on the turn

yeah, what a dumbass.

just kidding

#6,170
Jan 23, 2020 12:56pm Jan 23, 2020 12:56pm

Ll1979
Joined Dec 2008 | Status: Trader | 2,931 Posts

Quoting renNstimpy

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{quote}

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nice trade!

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persistence and determination alone are omnipotent

#6,171
Edited Jan 24, 2020 11:49am Jan 23, 2020 12:57pm | Edited Jan 24, 2020 11:49am

renNstimpy
| Joined Nov 2019 | Status: Trader | 344 Posts

Quoting renNstimpy

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Re-entering 54.91 SL 54.6x

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Trailing

Edit / Filled

rennstimp

#6,172
Jan 23, 2020 1:05pm Jan 23, 2020 1:05pm

Ll1979
Joined Dec 2008 | Status: Trader | 2,931 Posts

Quoting renNstimpy

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{quote} Trailing

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it might even hit 55,61

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persistence and determination alone are omnipotent

#6,173
Jan 23, 2020 1:26pm Jan 23, 2020 1:26pm

detector
Joined Dec 2017 | Status: Trader | 3,743 Posts

Quoting Ll1979

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{quote} nice trade! {image}

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Ditto Ren, 56 will bring it back in the boundaries, and every chance to happen, you know your limits though, good luck, D

I don't need to be good at the game, only good enough to beat my opponent,

#6,174
Jan 24, 2020 12:29am Jan 24, 2020 12:29am

louisfx
Joined Feb 2012 | Status: Trader | 1,228 Posts

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imo

Make it Green

#6,175
Jan 24, 2020 12:55am Jan 24, 2020 12:55am

MzansiObi
Joined Feb 2016 | Status: Full Time Trader. | 5,429 Posts

Quoting louisfx

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{image} imo

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agreed Louis....

I am how ever looking to get in short near your TP 2 handle....
Hope you been good.

I see you took advantage of the selloff and bagged some decent change.....

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