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  • #7,001
  • Apr 6, 2020 1:09pm Apr 6, 2020 1:09pm
OPEC meeting seems to have been moved to Friday now which is bank holiday and to my knowledge market is closed. I really think they will come to some agreement on production cut and there is going to be big gap up over weekend. But if there is no agreement, that would be quite nasty
  • #7,002
  • Apr 6, 2020 1:15pm Apr 6, 2020 1:15pm
Quoting tonny47
OPEC meeting seems to have been moved to Friday now which is bank holiday and to my knowledge market is closed. I really think they will come to some agreement on production cut and there is going to be big gap up over weekend. But if there is no agreement, that would be quite nasty
Still debates on 9 april
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persistence and determination alone are omnipotent
  • #7,003
  • Apr 6, 2020 2:12pm Apr 6, 2020 2:12pm
Quoting tonny47
OPEC meeting seems to have been moved to Friday now which is bank holiday and to my knowledge market is closed. I really think they will come to some agreement on production cut and there is going to be big gap up over weekend. But if there is no agreement, that would be quite nasty
Will everything be closed? Just checked and it appears Tokyo will be open? https://www.jpx.co.jp/english/ But then there are also broker's trading hours.... At least one of my brokers will be fully closed, all markets...
Can you afford to take that chance?
  • #7,004
  • Apr 6, 2020 2:51pm Apr 6, 2020 2:51pm
Someone decided to buy some WTI
Attached Image (click to enlarge)
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  • #7,005
  • Apr 6, 2020 3:01pm Apr 6, 2020 3:01pm
Quoting auricforecas
{quote} Will everything be closed? Just checked and it appears Tokyo will be open? https://www.jpx.co.jp/english/ But then there are also broker's trading hours.... At least one of my brokers will be fully closed, all markets...
dont know if everything but to my understanding, oil market is closed on Friday
  • #7,006
  • Apr 6, 2020 3:06pm Apr 6, 2020 3:06pm
Quoting Ll1979
{quote} Still debates on 9 april {image}
i am bit confused when this is actually taking place. on Saturday they said its been pushed to 9th April but i have seen somewhere 10th as well.
  • #7,007
  • Apr 6, 2020 4:17pm Apr 6, 2020 4:17pm
Quoting Hutch
Someone decided to buy some WTI {image}
I would have loved to see that the M1 candle that I posted above was the start of a real recovery but it wasn't the case since WTI went down by $2.46 today.
Attached Image (click to enlarge)
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  • #7,008
  • Apr 7, 2020 2:05am Apr 7, 2020 2:05am
Quoting sponge
Struggling with 29 atm but 29.40 + gives a target at 30.39 imo ...bets off below 28.78...testing at the mo
29.40 still the ksy level I think
All charts/ideas based on UK time zone
  • #7,009
  • Apr 7, 2020 2:53am Apr 7, 2020 2:53am
Quoting sponge
{quote} 29.40 still the ksy level I think
Once it spikes through 30, towards 40+... we can really start rolling. Cant't wait for the easter deal . Maybe we will see some preview/leak even before that. I bet on it.
Can you afford to take that chance?
  • #7,010
  • Apr 7, 2020 3:21am Apr 7, 2020 3:21am
Quoting auricforecas
{quote} Once it spikes through 30, towards 40+... we can really start rolling. Cant't wait for the easter deal . Maybe we will see some preview/leak even before that. I bet on it.
40+ is a bit optimistic to expect in next few months in my view given the lack of demand for coronavirus. we shall see
but could be wrong. i guess really depends on how much they cut the production by
  • #7,011
  • Apr 7, 2020 3:22am Apr 7, 2020 3:22am
Quoting tonny47
{quote} i am bit confused when this is actually taking place. on Saturday they said its been pushed to 9th April but i have seen somewhere 10th as well.
its G20 meeting on Friday i was thinking of
  • #7,012
  • Apr 7, 2020 3:27am Apr 7, 2020 3:27am
Quoting tonny47
{quote} 40+ is a bit optimistic to expect in next few months in my view given the lack of demand for coronavirus. we shall see
That is true but as soon as corona improvements will be seen (there are talks about it right now already) and RU-Saudi, US situation settles, we can be moving there quite fast, in relative terms This is the price they all somewhat consolidated on, judging by some sources and also "logic", internal costs etc...
Quoting tonny47
{quote} its G20 meeting on Friday i was thinking of
OPEC on Thursday.. So will be an epic party later this week, on Thu, Fri in particular . But markets/brokers will be closing early on Thu and will be closed on Fri, so hope not too much buildup through Easter Holidays.
Can you afford to take that chance?
  • #7,013
  • Apr 7, 2020 3:37am Apr 7, 2020 3:37am
7 April 2020

Looking at going long around
Entry 26.20
SL 23.98
TP Open



Theres a clear shift in sentiment and price seems to be using previous resistance as support now, the supportive price action around that 25.8 handle is significant in that the handle served as key support following the initial breakdown and rejected bullish price action(ie turned res) and now again we are back hovering near the handle...
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4&1 All Time Profit: $37,496
  • #7,014
  • Apr 7, 2020 6:40am Apr 7, 2020 6:40am
Attached Image
persistence and determination alone are omnipotent
  • #7,015
  • Apr 7, 2020 8:39am Apr 7, 2020 8:39am
Quoting sponge
Struggling with 29 atm but 29.40 + gives a target at 30.39 imo ...bets off below 28.78...testing at the mo
29.40 rejected, I think it's could be news driven now, 28.78 back in play
All charts/ideas based on UK time zone
  • #7,016
  • Apr 7, 2020 9:07am Apr 7, 2020 9:07am
Quoting sponge
{quote} 29.40 rejected, I think it's could be news driven now, 28.78 back in play
what oil are you trading? wti is between $26-27
  • #7,017
  • Apr 7, 2020 9:24am Apr 7, 2020 9:24am
Quoting tonny47
{quote} what oil are you trading? wti is between $26-27
UK spread bet charts ....cash charts I think, no futures charts available on my MT4 platform, I'm ok with them I make money but no point in me chipping in if you guys are all on future charts
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All charts/ideas based on UK time zone
  • #7,018
  • Apr 7, 2020 10:09am Apr 7, 2020 10:09am
Quoting sponge
{quote} UK spread bet charts ....cash charts I think, no futures charts available on my MT4 platform, I'm ok with them I make money but no point in me chipping in if you guys are all on future charts {image} {image}
I see. I am based in the UK as well. How much is your bid/ask spread with your broker? Do you have to pay overnight charges (you can see this right-clicking on symbol and then selecting specifications)?
  • #7,019
  • Apr 7, 2020 10:24am Apr 7, 2020 10:24am
Quoting tonny47
{quote} I see. I am based in the UK as well. How much is your bid/ask spread with your broker? Do you have to pay overnight charges (you can see this right-clicking on symbol and then selecting specifications)?
Thanks I didn't know how to do this I usually don't hold overnight, the spread is 3 pips swap/funding is - 11.75 pips long +11 short


Know of any good forums in the UK ?
All charts/ideas based on UK time zone
  • #7,020
  • Apr 7, 2020 10:49am Apr 7, 2020 10:49am
Quoting sponge
{quote} Thanks I didn't know how to do this I usually don't hold overnight, the spread is 3 pips swap/funding is - 11.75 pips long +11 short Know of any good forums in the UK ?
not aware of any to be honest, only keep coming here.

3 cents is ok, long swap is completely nuts if you want to hold position open overnight. Basically, if you hold trade for 9 days and oil moves $1 in your favour, you have not made any money.
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