Worst down day for oil this year - down $4.54.
Attached Image (click to enlarge)
WTI Crude Oil (TRENDSURFING - with the help of the model)
- #141
- Mar 6, 2020 4:10pm Mar 6, 2020 4:10pm
- Joined Apr 2010 | Status: Lazy trader on D1 charts | 5,901 Posts
- #142
- Mar 6, 2020 4:37pm Mar 6, 2020 4:37pm
- Joined Sep 2017 | Status: Still a total mystery | 3,569 Posts
Can you afford to take that chance?
- #143
- Mar 9, 2020 10:31am Mar 9, 2020 10:31am
- Joined Sep 2017 | Status: Still a total mystery | 3,569 Posts
Can you afford to take that chance?
- #144
- Mar 9, 2020 5:34pm Mar 9, 2020 5:34pm
- Joined Apr 2010 | Status: Lazy trader on D1 charts | 5,901 Posts
Well since RU basically said "come at me bro" like they are ready for 25USD... I am not touching the market for the risk of being trapped... Plan to jump on the BUY side asap, as soon as the situation will appear to stabilise a little and that the UP-trend begins...
- #145
- Mar 9, 2020 5:42pm Mar 9, 2020 5:42pm
- Joined Sep 2017 | Status: Still a total mystery | 3,569 Posts
{quote} You might want to try Renko 5 points bricks. It works quite well with any half-trend indicator using an amplitude of 2
Will wait for market to settle and then wait for the opportunity to jump on the RIDE (UP) I mean, this prices are CRAZY Also today was national holiday in Russia so let's wait what actually happens (by the end of this week for example)...Right now their statement was basically like this: "Does it look like we need the money?"... But until I see who will "win" in this POKER game, I am not entering the market, specially since I believe/wait for the BUY (soon). But at the same time I am always ready to see/admit that I was wrong and jump on the other side without an effort
But I will give it another week, or at least till the end of this one to see if the bluff (on either side) will be called... BTW at this prices I wonder if the production is still worthy at "some" parts of the world or if they would be better importing it Can you afford to take that chance?
- #146
- Mar 9, 2020 6:44pm Mar 9, 2020 6:44pm
- Joined Sep 2017 | Status: Still a total mystery | 3,569 Posts
Can you afford to take that chance?
- #147
- Mar 10, 2020 4:24am Mar 10, 2020 4:24am
- Joined Sep 2017 | Status: Still a total mystery | 3,569 Posts
Can you afford to take that chance?
- #148
- Mar 10, 2020 1:16pm Mar 10, 2020 1:16pm
- Joined Sep 2017 | Status: Still a total mystery | 3,569 Posts
Shiet... crazy WTI opportunity, entering BUY.
{quote} Epic entry, also made parallel entry in CHEETAH thread with epic success. Nice.
That was one of the most epic entry in quite some time! Basically the only thing that was left as a deciding factor of profitability was set leverage
But in general, the entry was EPIC win, the only risk (in retrospect) appeared to be too high leverage since it was some downspike later, if one was looking to make enormous profit in one trade anyway, but some still relatively LARGE leverages would go clean through. Not to mention the more conservative ones since we were somewhat aiming at 100% per YEAR in this thread (at about 20% DD) right.
Can you afford to take that chance?
- #150
- Mar 11, 2020 4:40pm Mar 11, 2020 4:40pm
- Joined Apr 2010 | Status: Lazy trader on D1 charts | 5,901 Posts
Could you post a chart of the trade you took, Entry, SL, TP and why you took the trade? I was looking at buying WTI buy with sentiment the way it is I was worried it would come crashing down to $27 anytime. You clearly saw something I did not and were able to capitalize on it. Congrats.
- #151
- Mar 11, 2020 4:42pm Mar 11, 2020 4:42pm
- Joined Apr 2010 | Status: Lazy trader on D1 charts | 5,901 Posts
WTI down $1.66 today not worth calling mother
- #152
- Mar 12, 2020 4:40pm Mar 12, 2020 4:40pm
- Joined Sep 2017 | Status: Still a total mystery | 3,569 Posts
Can you afford to take that chance?
- #153
- Mar 12, 2020 4:54pm Mar 12, 2020 4:54pm
- Joined Apr 2010 | Status: Lazy trader on D1 charts | 5,901 Posts
Yup, not touching the market until I see the BUY opportunities (again)... Just won't fall for the slide, not this time... I think price is too low right now, even with everything considered.... But I might be wrong and will see that soon.. always ready to admit that and jump on the profitable side but will wait for at least a WEEK or like first half of the next week to see the "curves" and situation update...
- #154
- Mar 12, 2020 4:55pm Mar 12, 2020 4:55pm
- Joined Sep 2017 | Status: Still a total mystery | 3,569 Posts
Current "signal" is: Learn when not to trade.. I found that is is MUCH better to SKIP the trades, for whatever time it takes, than to be "always trading" and giving money/profits back... So AWAITING NEW DATA.. Might not need much but we are at a tipping point about and MANY critical parameters clashing simultaneously.
Serious corona situation, OIL disputes, FED/ECB massive interventions etc etc... Also middle east situation doesn't help... So won't be calling the shots till at least Mon, Tue of next week.... Most probably wills start entering/testing the market more, gradually, from 17MAR2020 on.. I believe we will have at least some data till then...
At least with corona since EXP functions show deviations/trends quickly...
BTW... still planning to be on the BUY SIDE (WTI) but need "confirmation" or at least some feedback from the market instead of "betting it all on number 7"
Serious corona situation, OIL disputes, FED/ECB massive interventions etc etc... Also middle east situation doesn't help... So won't be calling the shots till at least Mon, Tue of next week.... Most probably wills start entering/testing the market more, gradually, from 17MAR2020 on.. I believe we will have at least some data till then...
At least with corona since EXP functions show deviations/trends quickly...
BTW... still planning to be on the BUY SIDE (WTI) but need "confirmation" or at least some feedback from the market instead of "betting it all on number 7"
Can you afford to take that chance?
- #155
- Mar 13, 2020 4:30pm Mar 13, 2020 4:30pm
- Joined Apr 2010 | Status: Lazy trader on D1 charts | 5,901 Posts
Current "signal" is: Learn when not to trade.. I found that is is MUCH better to SKIP the trades, for whatever time it takes, than to be "always trading" and giving money/profits back...
- #156
- Mar 13, 2020 4:33pm Mar 13, 2020 4:33pm
- Joined Apr 2010 | Status: Lazy trader on D1 charts | 5,901 Posts
- #157
- Mar 14, 2020 3:42pm Mar 14, 2020 3:42pm
- Joined Sep 2017 | Status: Still a total mystery | 3,569 Posts
WTI almost made up yesterday's loss of $2.14 by going up $1.89 today. The price moves quite a bit during the day but it doesn't seem to go anywhere so far. {image}
Can you afford to take that chance?
- #158
- Mar 16, 2020 4:21pm Mar 16, 2020 4:21pm
- Joined Apr 2010 | Status: Lazy trader on D1 charts | 5,901 Posts
{quote} Yup, we are/were in a gridlock POKER (RU, OPEC,...), but now some movements are expected... Comment about filling the (strategic) reserves helped also
- #159
- Mar 16, 2020 4:26pm Mar 16, 2020 4:26pm
- Joined Sep 2017 | Status: Still a total mystery | 3,569 Posts
{quote} Well my friend it did not help enough WTI is down by $4.31 or 13% from Friday's close. Russia and Saudi Arabia don't give a damn about selling at low prices. A commentator stated that the production cost per barrel in Russia is $7 and $3 in Saudi Arabia. At the end both countries will win with the only loser being shale oil producers in the US since they are heavily indebted and have a production cost of around $45 per barrel. {image}
Was talking about this here also. But do not worry, you did not help or hurt at all.. I know when I don't know so I stay(ed) out of the market... Awaiting to jump on the buy-side, just can not risk to be BEAR-trapped... But am always open to switch if I will see some persistence/trend in this, outside of Corona situation even... BTW was also discussing the production costs here.. You think it is really that hight? I found that is it abut 20USD, but yeah, could be wrong...
Can you afford to take that chance?
- #160
- Mar 17, 2020 4:57pm Mar 17, 2020 4:57pm
- Joined Apr 2010 | Status: Lazy trader on D1 charts | 5,901 Posts
