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  • #7,201
  • Apr 14, 2020 12:28am Apr 14, 2020 12:28am
I dont think its breaking out anytime soon, its gonna trade sideways and there is no point in even looking at the damn chart.
  • #7,202
  • Apr 14, 2020 1:01am Apr 14, 2020 1:01am
took small sell at 22.96
That which does not kill us makes us stronger
  • #7,203
  • Apr 14, 2020 1:02am Apr 14, 2020 1:02am
Quoting agazzi86
{quote} From where you get this data ? Is there any historical data for a view month or years a go?
This data comes from CMEgroup and list the current Future prices.

https://www.cmegroup.com/trading/ene...es_globex.html

As you might know CFDs are derived from futures or spot. Currently the spot prices (around $29.xx) are higher then the current future price (around $22.xx) which means were in backwardation. Normally spot and the current future price are somewhat inline but this month they aren't which means a heavy rollover.

More on future based CFD rollovers:

https://www.fortrade.com/faq/what-is...oes-it-happen/
persistence and determination alone are omnipotent
  • #7,204
  • Apr 14, 2020 1:28am Apr 14, 2020 1:28am
14 April 2020


Still looking for a bullish push above that $24 mark and then $28,

Price seems to have bottomed out at the bottom of this sideways range.
D1 chart still showing the inverse HnS pattern but may take some time to play out, PATIENCE.

Key levels for today
26.25
25.41
23.86
23.49
19.14


Green Pips
4&1 All Time Profit: $37,496
  • #7,205
  • Apr 14, 2020 1:28am Apr 14, 2020 1:28am
Quoting shiftyxxpc
I dont think its breaking out anytime soon, its gonna trade sideways and there is no point in even looking at the damn chart.
Based on what though?
4&1 All Time Profit: $37,496
  • #7,206
  • Edited 2:23am Apr 14, 2020 2:05am | Edited 2:23am
Front contract (May) is more or less done proly, not much potential, July contract is already at 34 USD, so the move on the production cut was already made mostly, despite what most say. CFDs holders are in worse position, they will roll over to June, but the brokers will substract the difference, so you will not profit of it and will have effective opening price over 30..
  • #7,207
  • Apr 14, 2020 2:09am Apr 14, 2020 2:09am
Quoting Ll1979
{quote} This data comes from CMEgroup and list the current Future prices. https://www.cmegroup.com/trading/ene...es_globex.html As you might know CFDs are derived from futures or spot. Currently the spot prices (around $29.xx) are higher then the current future price (around $22.xx) which means were in backwardation. Normally spot and the current future price are somewhat inline but this month they aren't which means a heavy rollover. More on future based CFD rollovers: https://www.fortrade.com/faq/what-is...oes-it-happen/...
So with this current price ($22) if i have buy 1 lot, my balance will get cut rollover 1x$7000 ?
  • #7,208
  • Apr 14, 2020 2:29am Apr 14, 2020 2:29am
Quoting agazzi86
{quote} So with this current price ($22) if i have buy 1 lot, my balance will get cut rollover 1x$7000 ?
IF you buy 1 CFD at current price your account will be subtract with $700 (most cfd broker 1 tick is 1 dollar -> 1 point = $100). In the end your balance is the same since the CFD is increase in value. But some future based CFD brokers will also charge you swaps (of the complete month) while you rollover. While those swaps aren't transparent in the way they are calculated i personally would avoid rollovers.
persistence and determination alone are omnipotent
  • #7,209
  • Apr 14, 2020 2:36am Apr 14, 2020 2:36am
Quoting Ll1979
{quote} IF you buy 1 CFD at current price your account will be subtract with $700 (most cfd broker 1 tick is 1 dollar -> 1 point = $100). In the end your balance is the same since the CFD is increase in value. But some future based CFD brokers will also charge you swaps (of the complete month) while you rollover. While those swaps aren't transparent in the way they are calculated i personally would avoid rollovers.
Ouh oke thankyou so much for the explanation, my broker dont have swap on oil, just rollover every month..
  • #7,210
  • Apr 14, 2020 2:40am Apr 14, 2020 2:40am
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yes yes yes
  • #7,211
  • Apr 14, 2020 3:37am Apr 14, 2020 3:37am
#WTI / Weekly,H4 & H1
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  • #7,212
  • Apr 14, 2020 3:42am Apr 14, 2020 3:42am
Quoting Ayax.TSS
#WTI / Weekly,H4 & H1 {image}{image}{image}
i really hoping that 36 will come before rollover contract..
Maybe all member Opec & Opec+ need to stop production and make oil rare on the market will bounce oil to 41
  • #7,213
  • Apr 14, 2020 3:47am Apr 14, 2020 3:47am
Quoting moneymove
took small sell at 22.96
closed and reverse.
Buy @ 22.37
That which does not kill us makes us stronger
  • #7,214
  • Apr 14, 2020 4:27am Apr 14, 2020 4:27am
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yes yes yes
  • #7,215
  • Apr 14, 2020 4:48am Apr 14, 2020 4:48am
It is very puzzling, but due to recent/developing events, right now.. EU etc... (some clue about restoring the production etc...)... all would indicate the RISE... But the CHART might suggest we should be somewhat careful... so I will OBSERVE for the/this week and then decide about how much to throw in the market....
Can you afford to take that chance?
  • #7,216
  • Apr 14, 2020 4:58am Apr 14, 2020 4:58am
Quoting Ll1979
{quote} IF you buy 1 CFD at current price your account will be subtract with $700 (most cfd broker 1 tick is 1 dollar -> 1 point = $100). In the end your balance is the same since the CFD is increase in value. But some future based CFD brokers will also charge you swaps (of the complete month) while you rollover. While those swaps aren't transparent in the way they are calculated i personally would avoid rollovers.
Hey, man, I have one pretty nooby question about rollovers you were mentioning. I am currently holding a long with 0.5 lot and I was charged a -1.03 Swap overnight, which sounds reasonable to me. Your post got me worried that my broker might charge me additional Rollover fee at the end of the month? If so, how much could that fee be? Because in that case, it makes no sense holding for too long.
  • #7,217
  • Apr 14, 2020 5:04am Apr 14, 2020 5:04am
Quoting auricforecas
It is very puzzling, but due to recent/developing events, right now.. EU etc... (some clue about restoring the production etc...)... all would indicate the RISE... But the CHART might suggest we should be somewhat careful... so I will OBSERVE for the/this week and then decide about how much to throw in the market....
+1 (besides some scalps)

Lots of variables to consider:

  1. COVID19
  2. Supply
  3. Demand
  4. Inventory capacity

It all comes down to timing.

persistence and determination alone are omnipotent
  • #7,218
  • Apr 14, 2020 5:16am Apr 14, 2020 5:16am
Quoting Ll1979
{quote} +1 (besides some scalps) Lots of variables to consider: COVID19 Supply Demand Inventory capacity It all comes down to timing.

  1. COVID19, some more optimistic news are spotted, in EU at least... (might suggest WTI up)
  2. Supply (were just CUT, quite good, and agreed) (might suggest WTI up)
  3. Demand restoring after production restores... linked to COVID19... (might suggest WTI up)

Will leave "Inventory capacity" for others to contribute

Can you afford to take that chance?
  • #7,219
  • Apr 14, 2020 6:15am Apr 14, 2020 6:15am
Quoting auricforecas
{quote} COVID19, some more optimistic news are spotted, in EU at least... (might suggest WTI up) Supply (were just CUT, quite good, and agreed) (might suggest WTI up) Demand restoring after production restores... linked to COVID19... (might suggest WTI up) Will leave "Inventory capacity" for others to contribute
Possible shake and bake? everyone expecting it to rally....think we need some patience...
4&1 All Time Profit: $37,496
  • #7,220
  • Apr 14, 2020 6:54am Apr 14, 2020 6:54am
Don't think I've ever seen this big of a price difference between consecutive month contracts in oil futures. When roll over to the June contract comes aroung, there's gonna either be a rip your face off rally, or a slow descent in price of June contract to the present/ jmho
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