{quote} Yup, 20 is very strong support... I am waiting the right opportunity to enter the BUY, because it looks a steal at this prices... Awaiting my (final) confirmation... Might happen later this week, specially 02-03APR... But! If it doesn't happen, might wait some time because "no trading"=trading, at least in my book... Also, I don't mind entering SHORT, even at this prices, but would have to be almost really sure to enter SHORT at this prices, because potential BEAR traps are BIGAwaiting vital data later week and will report...
WTI Crude Oil (TRENDSURFING - with the help of the model)
- #182
- Mar 30, 2020 8:26am Mar 30, 2020 8:26am
- Joined Jul 2007 | Status: Trader | 17,796 Posts
COT: The precious data ignored
- #183
- Mar 30, 2020 11:17am Mar 30, 2020 11:17am
- Joined Sep 2017 | Status: Still a total mystery | 3,569 Posts
Putting long orders at 0 dollars. Waiting now...
) Was that a joke or a typo? But you know what... with all that we have seen, can you imagine RU/Saudi will actually say they will give OIL for free, for certain period, in limited quantities at least Can you imagine the panic at certain markets/countries I mean even at 20USD some are know discussing heavy bailouts Can you afford to take that chance?
- #186
- Mar 30, 2020 1:55pm Mar 30, 2020 1:55pm
- Joined Sep 2017 | Status: Still a total mystery | 3,569 Posts
I think lower prices still... technically speaking. The next little bit of support I see is around 17.50
But I do not want to gamble with shorts because I think price is very low already... Although, if this 17.50 would happen to be correct, I do not mind to short it till the inflection point to buy at least Can you afford to take that chance?
- #187
- Mar 30, 2020 2:00pm Mar 30, 2020 2:00pm
- Joined Sep 2017 | Status: Still a total mystery | 3,569 Posts
Accumulating OIL longs: {image}
) term in mind?Oh yeah, maybe I wasn't clear... I trade some different style/strategies in parallel... I am reluctant to enter BUYs at certain timeframes, but if I would be looking for example, 6months in advance, I think this prices are a no brainer to me... I mean, can you imagine that mentioning (like some years ago, not to mention people that the price will be so low...
For a (historic) reference... https://www.macrotrends.net/2516/wti...ar-daily-chart
https://en.wikipedia.org/wiki/West_Texas_Intermediate
https://en.wikipedia.org/wiki/West_T...oil_spread.svg
So yeah, BUY definitely, in my book, for longer term.. but for DAY TRADING... I want at least somewhat "established" direction, before taking the risk (of being trapped
)
Can you afford to take that chance?
{quote} Nice, entires seems interesting to me, now it depends on your "exposure" levels... leverage, SL, stop-outs... Did you enter it for a LONG-er (funny
will see in next few hours...
- #189
- Mar 30, 2020 4:06pm Mar 30, 2020 4:06pm
- Joined Apr 2010 | Status: Lazy trader on D1 charts | 5,901 Posts
- #190
- Mar 31, 2020 4:10am Mar 31, 2020 4:10am
- Joined Sep 2017 | Status: Still a total mystery | 3,569 Posts
Can you afford to take that chance?
- #191
- Mar 31, 2020 4:21pm Mar 31, 2020 4:21pm
- Joined Apr 2010 | Status: Lazy trader on D1 charts | 5,901 Posts
{quote} Yeah, it is totally puzzling... Now it went to approx weekly open... I hope we will have more data in 2 days... Because right now, it seems nothing is out of the question, on either side...
{quote} Do you have estimated timeframe for that? Because I was thinking about re-entering the market by the end of this week... In particular, was looking into LONGs... but not so sure now
- #193
- Apr 1, 2020 4:18pm Apr 1, 2020 4:18pm
- Joined Apr 2010 | Status: Lazy trader on D1 charts | 5,901 Posts
WTI gained $1.01 today so it's still in the same range. However, depending on your trading style, there was a half dozen trades that generated between 20 to over 50 pips today
- #194
- Apr 2, 2020 4:22pm Apr 2, 2020 4:22pm
- Joined Apr 2010 | Status: Lazy trader on D1 charts | 5,901 Posts
WTI is up $3.58 or 17% today because Saudi Arabia announced that it wants a meeting with OPEC, Russia and other major oil producers in order to cut production and stabilize the price of oil. The way I understand it "stabilize" means increase oil prices Today's range was from a low of $20.20 to a high of $27.13 so it was a great trading day although the price sometimes moved too quickly to enter into a trade.
Today's range was from a low of $20.20 to a high of $27.13 so it was a great trading day although the price sometimes moved too quickly to enter into a trade.
- #195
- Apr 5, 2020 2:31pm Apr 5, 2020 2:31pm
- Joined Sep 2017 | Status: Still a total mystery | 3,569 Posts
OMG guys, have you seen, WTI gained so much and much more in the horizon now that US, Saudis and RU basically came together, consolidated, that the price should be at least 40USD! Man, the missed opportunity But yeah, there were even talks about basically going down to zero So now what, I think we shall wait, for a few (working) days, to see if this stick, also some better corona news coming, but too little to stick, for now... So we will see if WTI starts the BIG RISE, hopefully slowly, so that we can shave as many profits out of this BULL RISE as possible I do not like the pumps/dumps but as linear growth as possible, with little daily corrections so that we can profit more from daily than to buy and hold for longer time
Oh and yeah, happy to inform you that LIVE TE is coming soon, later this week, if all goes well! Tnx for the votes in the poll, those will be our objectives
But yeah, there were even talks about basically going down to zero So now what, I think we shall wait, for a few (working) days, to see if this stick, also some better corona news coming, but too little to stick, for now... So we will see if WTI starts the BIG RISE, hopefully slowly, so that we can shave as many profits out of this BULL RISE as possible I do not like the pumps/dumps but as linear growth as possible, with little daily corrections so that we can profit more from daily than to buy and hold for longer time Oh and yeah, happy to inform you that LIVE TE is coming soon, later this week, if all goes well! Tnx for the votes in the poll, those will be our objectives
Can you afford to take that chance?
- #196
- Apr 5, 2020 3:51pm Apr 5, 2020 3:51pm
- Joined Apr 2010 | Status: Lazy trader on D1 charts | 5,901 Posts
OMG guys, have you seen, WTI gained so much and much more in the horizon now that US, Saudis and RU basically came together, consolidated, that the price should be at least 40USD! Man, the missed opportunity
- #197
- Apr 6, 2020 4:07am Apr 6, 2020 4:07am
- Joined Sep 2017 | Status: Still a total mystery | 3,569 Posts
{quote} The high for last week was $28.90 and these were the double tops late Friday that you see on the chart. It looks like that the resistance is now about $29 - $30 so when WTI settles above $30 there should be a good run up. The next resistance level is around $35 but I think this might be hard to break before OPEC and major producing countries, including Russia and the US, all agree to production cuts. As you know I love slow up and down moves since they are easy to trade for maximum profits
Can you afford to take that chance?
- #198
- Apr 6, 2020 4:01pm Apr 6, 2020 4:01pm
- Joined Sep 2017 | Status: Still a total mystery | 3,569 Posts
{quote} Looks like recovering but we have to see what RU and Saudis will come up with... They had some dispute about who started the whole thing and then they delayed the meeting.. Hope we can see the light by the end of this week. Still looking to jump on the buy side at the first "confirmed" opportunity.
I believe that could mean good news for the oil, also Can you afford to take that chance?
- #199
- Apr 6, 2020 4:05pm Apr 6, 2020 4:05pm
- Joined Apr 2010 | Status: Lazy trader on D1 charts | 5,901 Posts
