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WTI Crude Oil Trading

  • #6,741
  • Mar 17, 2020 4:03am Mar 17, 2020 4:03am
Value this am

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Boxing clever since 76.
  • #6,742
  • Edited 6:33am Mar 17, 2020 6:21am | Edited 6:33am
See how they absorbed the highest volume of the day. Value was going up.
Every time a pivot level was broken lower they bought that liquidity. Those red arrows are my buys.

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one more

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Boxing clever since 76.
  • #6,743
  • Mar 17, 2020 8:22am Mar 17, 2020 8:22am
Critical spot WTI at now. Will it break lower or give a nice bounce above $30. Think I’ll sit on my hands til it’s clear. Wild swings are also possible
  • #6,744
  • Mar 17, 2020 10:00am Mar 17, 2020 10:00am
Quoting Kwame Freder
Critical spot WTI at now. Will it break lower or give a nice bounce above $30. Think I’ll sit on my hands til it’s clear. Wild swings are also possible
It's being a tough fight, I hope the Bears will win
  • #6,745
  • Mar 17, 2020 10:16am Mar 17, 2020 10:16am
Quoting Kafin
{quote} It's being a tough fight, I hope the Bears will win
If the virus does not begin to abate and the Saudis follow through on April 1 we will soon see <$20.
  • #6,746
  • Mar 17, 2020 10:26am Mar 17, 2020 10:26am
Ok guys, I give it a week and then I might say.. f.it and join the OILY slide
Would still much prefer to jump on the BUY side though.
Can you afford to take that chance?
  • #6,747
  • Mar 17, 2020 11:28am Mar 17, 2020 11:28am
Quoting Kafin
{quote} It's being a tough fight, I hope the Bears will win
Smart Bears, they waited till London Close
  • #6,748
  • Mar 17, 2020 1:45pm Mar 17, 2020 1:45pm
shorted twice both closed already think i'm done for the day. i'm a nervous bear, always expecting it to shoot up
  • #6,749
  • Mar 17, 2020 9:49pm Mar 17, 2020 9:49pm
Quoting copi88
{quote} Two most important question you need to ask as a Trader is 1.What did they do with the volume - Large volume bars are used by institutions to either distribute or start their accumulations. Institutions are not that interested in price. They are interested in Value and Volume. 2.What did they do with the liquidity - Every time a pivot is formed there is hidden liquidity above/below those pivots in the form of stops. When price travels through a pivot, does it immediately reject and trade back inside or does it continue on ie have they bought...
Thanks Copi88, I appreciate you time!
I do wish to get better in Technical analysis, and will be starting with VSA, Fibonacci retracement, and Pivot Points.

Though Fibonacci retracement and Pivot Points are easy to read, deciding where to place them (last week bar, last month bar, or most visible trend) could be difficult. I have started learning to read Volumes - this surely will yield the best returns if one can master it
  • #6,750
  • Mar 18, 2020 1:41am Mar 18, 2020 1:41am
super key levels for oil right now. close to 16-year lows already. well, Oanda only has data from 2003 onwards so this is almost as good as close to all time lows. can we get lower? of course. no end in sight with all airlines close to a shutdown and saudi and russia still throwing out oil as if it's free water. even 2008 financial crisis never reached this low.

long term though, risk reward certainly favors to the upside. at some point, this madness will end. even if it only goes up to close the gaps at the 50s level, you'd be up almost 100% from current levels. lose 5 dollars, gain 25? definitely good risk-reward. question is -- can you hold for that long?
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  • #6,751
  • Mar 18, 2020 1:51am Mar 18, 2020 1:51am
Quoting djmarquezlim
super key levels for oil right now. close to 16-year lows already. well, Oanda only has data from 2003 onwards so this is almost as good as close to all time lows. can we get lower? of course. no end in sight with all airlines close to a shutdown and saudi and russia still throwing out oil as if it's free water. even 2008 financial crisis never reached this low. long term though, risk reward certainly favors to the upside. at some point, this madness will end. even if it only goes up to close the gaps at the 50s level, you'd be up almost 100% from...
Agreed, Have currently got a buy trade running(in the red) hard stops on it sit at $25 mark..... So let's see......Even if we do spike lower than it, for me so long as the daily close remains above the $25 mark then I remain looking for bullish reversal
4&1 All Time Profit: $37,496
  • #6,752
  • Mar 18, 2020 2:05am Mar 18, 2020 2:05am
Quoting Kwame Freder
shorted twice both closed already think i'm done for the day. i'm a nervous bear, always expecting it to shoot up
Lol, @ "nervous bear" Kwame, it has been consolidating for a fair bit just keep an eye on the daily open and closing levels.....I am not thinking of selling this thing at current levels if it does close below the $25 mark will just stay out and watch/ wait to see how it behaves but oil won't stay at such low levels for a sustained period of time....
4&1 All Time Profit: $37,496
  • #6,753
  • Mar 18, 2020 2:48am Mar 18, 2020 2:48am
Quoting Kafin
{quote} Thanks Copi88, I appreciate you time! I do wish to get better in Technical analysis, and will be starting with VSA, Fibonacci retracement, and Pivot Points. Though Fibonacci retracement and Pivot Points are easy to read, deciding where to place them (last week bar, last month bar, or most visible trend) could be difficult. I have started learning to read Volumes - this surely will yield the best returns if one can master it
Forget about Fibonacci lines they are nonsense. Where trading originated from the traders in the pits they where not calculating in their heads the 68.12% or whatever the number is extension.
On pieces of paper they would write the high, the low, work out the mid point and from that the 1.5 and 2 times extensions of that range. That is all you need to know.

VSA is about the only useful thing I learnt from these forums.
Boxing clever since 76.
  • #6,754
  • Mar 18, 2020 6:06am Mar 18, 2020 6:06am
Quoting MzansiObi
{quote} Lol, @ "nervous bear" Kwame, it has been consolidating for a fair bit just keep an eye on the daily open and closing levels.....I am not thinking of selling this thing at current levels if it does close below the $25 mark will just stay out and watch/ wait to see how it behaves but oil won't stay at such low levels for a sustained period of time....
I just came to the point that with crude, i'll add contracts (Crude ETF) every 1/2 dollars down in oil, until it hits 0

Target is 50, then 60 then higher. It may takes month though
COT: The precious data ignored
  • #6,755
  • Mar 18, 2020 6:36am Mar 18, 2020 6:36am
The down side may be somewhat limited but the problem is that it may settle at a low point for a long time (months) which may be extremely frustrating and painful to anyone stuck in a long
  • #6,756
  • Mar 18, 2020 7:36am Mar 18, 2020 7:36am
Quoting kuroro001
{quote} I just came to the point that with crude, i'll add contracts (Crude ETF) every 1/2 dollars down in oil, until it hits 0 Target is 50, then 60 then higher. It may takes month though
Agreed as mentioned previously these intra day moves aren't of particular interest to me at the moment as the daily will be more telling in terms of where they will let it park off, let's wait for a bullish daily close and the begin adding me thinks...
4&1 All Time Profit: $37,496
  • #6,757
  • Mar 18, 2020 8:11am Mar 18, 2020 8:11am
Oil is falling so fast. May have to sit out and just watch it drop today
  • #6,758
  • Mar 18, 2020 8:14am Mar 18, 2020 8:14am
Quoting DMA Trader
I am selling 33/34 area targeting lower prices.
i think it's a good day today to take some profits. not to close everything. PA still is bearish
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #6,759
  • Mar 18, 2020 8:30am Mar 18, 2020 8:30am
You know the situation is ugly by looking at CAD and NOK

usdcad rising 200 pips everyday
COT: The precious data ignored
  • #6,760
  • Mar 18, 2020 8:33am Mar 18, 2020 8:33am
WTI drops and Drops. Do Saudis still earn Money on this low Level?
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