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WTI Crude Oil Trading

  • #8,081
  • May 11, 2020 8:33am May 11, 2020 8:33am
Quoting MzansiObi
{quote} HI Kwame, Have got a trailing stop on most recent buy but share similar sentiment with you in terms of a dip before we get going again... here is my outlook, lets see what price does around that 21 USD mark..... {image}
Neckline failing to break..... RSI and Stoch also pointing up in the short term, 30 USD on the horizon if the head structure goes......
4&1 All Time Profit: $37,496
  • #8,082
  • May 11, 2020 9:15am May 11, 2020 9:15am
It hasn’t been able to break the high from the Saudi news spike. The longer it goes without breaking the high the greater the chance a significant down move is coming
  • #8,083
  • May 11, 2020 9:18am May 11, 2020 9:18am
U.A.E. is jumping on the band wagon... https://www.forexfactory.com/news/99...onal-voluntary
  • #8,084
  • May 11, 2020 9:41am May 11, 2020 9:41am
This is like looking at an overdraft growing by £1000 a week and deciding to cancel your £10 a month Netflix subscription
  • #8,085
  • May 11, 2020 10:26am May 11, 2020 10:26am
It seems like market is wanting to go up but is hesitating Not happy (yet) with the current development or "trend"... but we might have a clue very soon... Till then, better to save the profits than to betting it on RED right
Can you afford to take that chance?
  • #8,086
  • May 11, 2020 11:16am May 11, 2020 11:16am
Quoting Kwame Freder
It hasn’t been able to break the high from the Saudi news spike. The longer it goes without breaking the high the greater the chance a significant down move is coming
Doesn't have the juice to break the highs just yet. looks like a pull back is required to get this done
  • #8,087
  • May 11, 2020 11:45am May 11, 2020 11:45am
Doesnt want to go either way. If no new developments i also start thinking H&S pattern is in development, so it shall go south before rising higher.
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  • #8,088
  • May 11, 2020 11:46am May 11, 2020 11:46am
Crude hasnt got much power to break the previous resistance
  • #8,089
  • May 11, 2020 12:33pm May 11, 2020 12:33pm
me $1600

jimb2468 $2200
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making money in JimB2468 trading room
  • #8,090
  • May 11, 2020 1:54pm May 11, 2020 1:54pm
Both WTI and Brent have breached below the ascending wedge bull flags (1H, 4H, Daily charts). Difficult to say if price will return to inside the flag or find resistance on the lower edge of the flags, we shall see. Typically a breach like this would mean further south traffic, but given current circumstances, it could go either way
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  • #8,091
  • May 11, 2020 4:03pm May 11, 2020 4:03pm
Well Saudis kinda panicking, cutting... I mean "lowering standards" is just not they style maybe? While in Russia, everything seems to be normal...
Anyway, some positive news about Corona maybe... in some parts of EU at least.. but we will see soon now... after easing and due to EXP function we shall see very quickly how/where it goes... So demand may/May be returning Coupled with cuts and cuts.... Or in other words.. if it doesn't start to pick up in the next weeks, I will DUMP the market or RIDE the SLIDE back to the HOLE where it was found in the first place... for the next Dinosaur age to occur
Can you afford to take that chance?
  • #8,092
  • May 11, 2020 4:12pm May 11, 2020 4:12pm
Quiet market with WTI hardly moving but good enough a few good trades within the $1.38 range
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  • #8,093
  • May 11, 2020 4:19pm May 11, 2020 4:19pm
Price encountering some rejection as expected at the base of the flag
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  • #8,094
  • May 11, 2020 5:00pm May 11, 2020 5:00pm
Risky thing about this if you are shorting is that It can surge/spike up at any moment and break the high. I suspect any down move will be limited. Definitely prefer to be bull
  • #8,095
  • May 11, 2020 6:46pm May 11, 2020 6:46pm
Quoting Kwame Freder
Risky thing about this if you are shorting is that It can surge/spike up at any moment and break the high. I suspect any down move will be limited. Definitely prefer to be bull
I'm with you on that one! I hope it will show us "the way"... maybe even today.. when the clouds clear a bit... This WTI stall/swing was/is really a torture.. I wouldn't even believe this could be possible like 6months ago... I mean we are talking about THE OIL! Not to mention movies, documentaries and you name it... predicting enormous OIL prices not that long ago... And now it is cheaper than water..
Can you afford to take that chance?
  • #8,096
  • May 11, 2020 11:23pm May 11, 2020 11:23pm
Quoting LloydOz
{quote} I have recently opened a demo account with Gain Capital Australia, trading as City Index. Just coz I can. They offer just US Oil. No WTI or Brent, as such. Maybe that may change with legitimate account, dunno. Daily volume in the middle tens of thousands, rarely over 100,000. Current spread 24.49 24.54. About 6.50 GM Time. As far as CFDs go, they seem OK, and offer what seems to be futures prices on some things (probably spot, haven't checked) with quite tight spreads. Now, what is this "cut your money"thing? I must say I haven't heard of...
well, please take a loot at this for details:

GAIN Capital cut money again after the Long OIL Orders closed at 0.01.
https://www.energyexch.com/showthread.php?t=997208
Forex, my love!
  • #8,097
  • May 12, 2020 3:27am May 12, 2020 3:27am
Quoting tonny47
{quote} is that 1300 after commission? you must have paid around 400-600 in commissions alone, no?
yep,,slightly over 400,,,but it sounds good the way I put it :-))))
//the runners aren't always available as wished for//
making money in JimB2468 trading room
  • #8,098
  • May 12, 2020 5:19am May 12, 2020 5:19am
Rynair to relaunch 40% of its flights starting july 1st. Any news from other airlines?
From macro information worries about 2nd wave might be a trigger for sell-of. Wuahn to test 11mln ppl, another city closed. Germany concerned about 2nd wave and increasing number of new cases.

I guess we shall get back to normal life and live with this influenza as it was always here.
Anyways, buch of news today in the calendar . H&S pattern gets invalided IMHO
  • #8,099
  • May 12, 2020 6:59am May 12, 2020 6:59am
Quoting patient pip
{quote} yep,,slightly over 400,,,but it sounds good the way I put it :-)))) //the runners aren't always available as wished for//
Do you trade futures or CFDs?
persistence and determination alone are omnipotent
  • #8,100
  • May 12, 2020 9:12am May 12, 2020 9:12am
Quoting TaoJin88
{quote} well, please take a loot at this for details: GAIN Capital cut money again after the Long OIL Orders closed at 0.01. https://www.energyexch.com/showthread.php?t=997208
Its a contractual issue.

It would be unwise for anyone to provide advice without being in possession of the full facts. Anything else would be speculation.

Any communications in any dispute should be in writing.

On a philosophical note, I'm a little surprised that CFD brokers are not playing ball, and indeed being deliberately provocative. Not smart, especially from what I see about the $ amounts from a brokers perspective. I think that Gain is a major outfit, not some niche player. The regulators are just waiting for an excuse to sink their teeth into CFD junk.
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