WTI Crude Oil Trading | Page 348 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

WTI/USD

Similar Threads

Reliable broker for Crude Oil trading 20 replies

making money intraday CL/WTI/OIL - no overnight holds 13 replies

WTI Crude Oil (TRENDSURFING - with the help of the model) 634 replies

Trading Oil WTI to get back all! 18 replies

Hedge WTI and Brent Oil 1 reply

Attachments: WTI Crude Oil Trading
Exit Attachments

WTI Crude Oil Trading

  • #6,941
  • Apr 2, 2020 9:58am Apr 2, 2020 9:58am
Quoting Ll1979
{image}
more info
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 311 KB
persistence and determination alone are omnipotent
  • #6,942
  • Apr 2, 2020 10:13am Apr 2, 2020 10:13am
Just as well I play small ...check out my white knuckle trades, I must be mad, I just jumped on the train for the last one it saved my skin ha

Not easy with oil atm but I think you guys are right one sniff of news could make or break
Attached Image
All charts/ideas based on UK time zone
  • #6,943
  • Apr 2, 2020 10:14am Apr 2, 2020 10:14am
Quoting sponge
Just as well I play small ...check out my white knuckle trades, I must be mad, I just jumped on the train for the last one it saved my skin ha Not easy with oil atm but I think you guys are right one sniff of news could make or break {image}
Nice!
Attached Image
persistence and determination alone are omnipotent
  • #6,944
  • Apr 2, 2020 10:18am Apr 2, 2020 10:18am
Quoting Ll1979
{quote} Nice! {image}
I wish
All charts/ideas based on UK time zone
  • #6,945
  • Apr 2, 2020 10:34am Apr 2, 2020 10:34am
Quoting vikinsa
{quote} Brilliant!! Worked exactly as expected and predicted. #USOIL has shot up to 27 dollars . My prediction was 100% correct with #technicalanalysis !!! Before: https://lnkd.in/gPuqjnf Later: https://lnkd.in/gzFB3Ut Now: https://lnkd.in/g3HAHUr {image}
Thank trump fpr that bro
  • #6,946
  • Apr 2, 2020 11:55am Apr 2, 2020 11:55am
Quoting Sufi1985
{quote} Thank trump fpr that bro
yeah on March 28th?
Technical Analyst & Trader @ Vikinsa
  • #6,947
  • Apr 2, 2020 12:41pm Apr 2, 2020 12:41pm
Quoting Ll1979
{quote} more info {image}
President Trump has nothing to do with it. The Saudis are chickening out because the country needs oil to be at a higher price in order to balance its budget
  • #6,948
  • Apr 2, 2020 12:59pm Apr 2, 2020 12:59pm
Quoting Hutch
{quote} President Trump has nothing to do with it. The Saudis are chickening out because the country needs oil to be at a higher price in order to balance its budget
They need about $80 to balance the budget. I wouldn't be surprised if the Saudis will (pretend to) play along with Donald Trump after hearing some US senators willing to stop providing military support to protect Saudi oil in the middle east.

Then again this could be a perfect opportunity to align every bodies interest since OPEC+ worst enemy is US shale. If all parties agree on quotas for example this would be great for the oil industry.
persistence and determination alone are omnipotent
  • #6,949
  • Apr 2, 2020 1:00pm Apr 2, 2020 1:00pm
here we go, right back down. hope they have this meeting shortly
  • #6,950
  • Apr 2, 2020 1:01pm Apr 2, 2020 1:01pm
Quoting Hutch
{quote} President Trump has nothing to do with it. The Saudis are chickening out because the country needs oil to be at a higher price in order to balance its budget
Huh?? it was directly his tweet that caused the oil market to react
  • #6,951
  • Apr 2, 2020 1:30pm Apr 2, 2020 1:30pm
wild swings. crude oil speculators are having fun today
  • #6,952
  • Apr 2, 2020 2:52pm Apr 2, 2020 2:52pm
Quoting Kwame Freder
{quote} Huh?? it was directly his tweet that caused the oil market to react
At this point I'm afraid the answer is yes. There's been nothing other than the call for an OPEC/OPEC+ meeting and the Russian budget announcement where it's basic its annual budget on $20 oil. Nothing from anybody other than Trump about a Russia/Saudi truce.

This shows us how much oil prices will actually move when in fact there is an agreement with Russia and OPEC.

UPDATE: There's more. Check this out: https://www.zerohedge.com/energy/oil...t-15mm-barrels
We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #6,953
  • Apr 2, 2020 2:54pm Apr 2, 2020 2:54pm
The fact that the Suadis have called for G20 nations to join in on the oil production cuts make it extremely more believable that an underlying agenda behind all of this is directed at US shale. Who knows? I just wouldn't count that out.
We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #6,954
  • Apr 2, 2020 3:06pm Apr 2, 2020 3:06pm
Quoting Kwame Freder
{quote} Huh?? it was directly his tweet that caused the oil market to react
President Trump's tweet was issued after he had received the news that Saudi Arabia, Russia and other countries would meet to discuss oil production cut

CNN Business stated: "President Donald Trump suggested massive production cuts could be on the way and Saudi Arabia called for an "urgent" meeting between OPEC, Russia and other unnamed nations to restore "balance" to the oil market. Even though no date has been set for such a meeting — and no deal on cutting production has yet been announced".

It's the news that oil producing countries would meet to discuss production cut that resulted in the oil price increase not President Trumps' tweet
  • #6,955
  • Apr 2, 2020 3:25pm Apr 2, 2020 3:25pm
Quoting Hutch
{quote} President Trump's tweet was issued after he had received the news that Saudi Arabia, Russia and other countries would meet to discuss oil production cut CNN Business stated: "President Donald Trump suggested massive production cuts could be on the way and Saudi Arabia called for an "urgent" meeting between OPEC, Russia and other unnamed nations to restore "balance" to the oil market. Even though no date has been set for such a meeting — and no deal on cutting production has yet been announced". It's the news that oil producing countries...
Not that it really matters but almost every news report states that oil spiked because of trump claiming they will cut oil prod by 10 mm, which came before the news that opec is calling for a meeting. its clear that something is in the works and if the market moved this much based on that, one can imagine how large the move will be when they actually make a deal. Shorts beware.
  • #6,956
  • Apr 2, 2020 4:31pm Apr 2, 2020 4:31pm
Quoting Kwame Freder
{quote} Not that it really matters but almost every news report states that oil spiked because of trump claiming they will cut oil prod by 10 mm, which came before the news that opec is calling for a meeting. its clear that something is in the works and if the market moved this much based on that, one can imagine how large the move will be when they actually make a deal. Shorts beware.
I agree that it doesn't matter after all. What counts for us traders is that we can make good money WTI was up $3.58 or 17% today with a low of $20.60 and a high of $27.13. The trading day could have been a lot better if the darn price didn't move as quickly as it did sometimes
Attached Image (click to enlarge)
Click to Enlarge Name: WTICOUSD-4M2.png Size: 43 KB
  • #6,957
  • Apr 3, 2020 1:33am Apr 3, 2020 1:33am
I think yesterdays move was a bit of a fluke, with the world at a standstill who needs oil ? corona hasn't changed the markets, the pros will just pounce on any news for a few bucks

I think when lockdowns start to lift so will oil...could be a while

We have a severe lack of volume atm so it's moving on fresh air
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Image2.png Size: 56 KB
Click to Enlarge Name: Image3.png Size: 21 KB
All charts/ideas based on UK time zone
  • #6,958
  • Apr 3, 2020 1:37am Apr 3, 2020 1:37am
Hard to see any easy way out for US shale Producers. WLL just the tip of iceberg. Russia & SA probably won't cut much unless US producers do also. For the overleveraged among the latter, if they're not pumping, they could be dying.

But all the rumors swirling will continue to float crude price. It has been a good time to leg into XLE (USO, etc) long-dated calls. I bot Sep30 XLE $47.21 calls for 20c today. If oil price keeps going up, I will sell nearer calls against them.

With global demand cratered, if there be no grand bargain for cutting production, we will be sliding again to <$20 soon enough.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #6,959
  • Apr 3, 2020 1:47am Apr 3, 2020 1:47am
Quoting sponge
Out the box ? Symmetry suggests WTI 21.70 possible 10! Holding 32.50 to avoid {image}
$21.70 held well, is the bottom in?
All charts/ideas based on UK time zone
  • #6,960
  • Apr 3, 2020 2:02am Apr 3, 2020 2:02am
50 pips before breakfast ha, I think 26.03 is the key level atm
Attached Image
All charts/ideas based on UK time zone
17 traders viewing now