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WTI Crude Oil Trading

  • #7,721
  • Apr 23, 2020 8:58am Apr 23, 2020 8:58am
from twitter
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persistence and determination alone are omnipotent
  • #7,722
  • Apr 23, 2020 9:02am Apr 23, 2020 9:02am
Quoting Kwame Freder
Feels very much like a pullback that precedes a big fall.
Oil is still cheap, i'll sell oil once we go back above 60 dollars

It may takes ages, but i have time
COT: The precious data ignored
  • #7,723
  • Apr 23, 2020 9:03am Apr 23, 2020 9:03am
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persistence and determination alone are omnipotent
  • #7,724
  • Apr 23, 2020 9:30am Apr 23, 2020 9:30am
Quoting Ll1979
{image}
They are always late though

They cut targets when it goes down, upgrade it when it goes up

Same as rating agencies, or stock analysts. They go with the current trend
COT: The precious data ignored
  • #7,725
  • Apr 23, 2020 9:38am Apr 23, 2020 9:38am
Although data is delayed US oil production is slowly declining not what you would have been expecting with storage capacity running out.

source:

https://www.eia.gov/dnav/pet/hist/Le...s=WCRFPUS2&f=W
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persistence and determination alone are omnipotent
  • #7,726
  • Apr 23, 2020 9:56am Apr 23, 2020 9:56am
Quoting Ll1979
Although data is delayed US oil production is slowly declining not what you would have been expecting with storage capacity running out. source: https://www.eia.gov/dnav/pet/hist/Le...s=WCRFPUS2&f=W {image}
Note: At least 80%+ of the oil wells in Illinois are off.
Patience, let the trade come to you.
  • #7,727
  • Apr 23, 2020 10:24am Apr 23, 2020 10:24am
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persistence and determination alone are omnipotent
  • #7,728
  • Apr 23, 2020 10:47am Apr 23, 2020 10:47am
Quoting Ll1979
from twitter {image}
thats the best explanation ive seen so far. LMAO
  • #7,729
  • Apr 23, 2020 11:53am Apr 23, 2020 11:53am
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yes yes yes
  • #7,730
  • Apr 23, 2020 12:04pm Apr 23, 2020 12:04pm
Coronavirus is a great political and economic opportunity for a few and a great disgrace for many. If this were not the case, the pandemic would not exist in the West as it hardly exists in the East. Behind her comes a world much more controlled and divided into castes than it already was. So the spread of emphysemia is allowed. There have always been medical remedies since the Cold War. But there is no will to apply them.

What fuck is that?

https://www.cmegroup.com/trading/ene...trikeRange=ATM
  • #7,731
  • Apr 23, 2020 12:05pm Apr 23, 2020 12:05pm
preferred moving SL quickly today .
Stopped after +2k //minus commission//.
market was one way pretty much,,untill now
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making money in JimB2468 trading room
  • #7,732
  • Apr 23, 2020 1:40pm Apr 23, 2020 1:40pm
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persistence and determination alone are omnipotent
  • #7,733
  • Apr 23, 2020 3:33pm Apr 23, 2020 3:33pm
Quoting patient pip
preferred moving SL quickly today . Stopped after +2k //minus commission//. market was one way pretty much,,untill now {image}
impressive!
  • #7,734
  • Apr 23, 2020 3:35pm Apr 23, 2020 3:35pm
honestly don't understand why wti is moving up this high this fast. USO buying in, Trump threatening Iran... that cannot be all to it
  • #7,735
  • Apr 23, 2020 4:03pm Apr 23, 2020 4:03pm
Quoting powermatrix
I would like to know is there any relation between the EURUSD and the WTI rates ??

Hey, here is what i know bout wti. WTI has negative correlation with usdcad. That means when wti goes up usdcad goes down. it is a strong indicator to trade usdcad.
  • #7,736
  • Apr 23, 2020 4:20pm Apr 23, 2020 4:20pm
Quoting DollarRain
{quote} Hey, here is what i know bout wti. WTI has negative correlation with usdcad. That means when wti goes up usdcad goes down. it is a strong indicator to trade usdcad.
Be careful because historically there is a strong positive correlation between WTI and USDCAD. I think that the existing negative correlation has more to do with the Coronavirus than anything else but nobody knows when this epidemic situation will cease.
  • #7,737
  • Apr 23, 2020 4:25pm Apr 23, 2020 4:25pm
WTI went up only $0.66 or 5% today but it the trading range was good enough for trading using Renko 5¢ bricks
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  • #7,738
  • Apr 23, 2020 4:44pm Apr 23, 2020 4:44pm
2 point retrace

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yes yes yes
  • #7,739
  • Apr 24, 2020 4:35am Apr 24, 2020 4:35am
Should Crude Oil West Texas – Cash or any of our Crude Oil West Texas forward products quote below $5.00 on the Bid, the product will be restricted to reduce-only, until such time as we deem the price has stabilised above the $5.00 level.

For any quote at, or below 0.025 on the Bid, the product will be suspended and will deem to have expired at a price of zero. All open trades will be closed at zero, allowing us to manually execute the trades.
  • #7,740
  • Apr 24, 2020 5:06am Apr 24, 2020 5:06am
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