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WTI Crude Oil Trading

  • #8,281
  • May 25, 2020 8:35am May 25, 2020 8:35am
Quoting Ayax.TSS
{quote} {image}
good try, one thing is when the economy was totally stopped the price dropped to negative and another is that when everything went back it would open slowly it would collapse again
  • #8,282
  • May 25, 2020 12:42pm May 25, 2020 12:42pm
Hi all,
I have an open position in WTI since 33.80 ( stop loss placed as well at break even). My broker frozen the chart at 34.09 but when I look at investing.com the price is frozen at 33.70...

I am wondering what is going to happen when the market will open in a few hours
You are allowed to fall but you are imposed to get up!
  • #8,283
  • Edited 1:07pm May 25, 2020 12:56pm | Edited 1:07pm
Quoting iero4
Hi all, I have an open position in WTI since 33.80 ( stop loss placed as well at break even). My broker frozen the chart at 34.09 but when I look at investing.com the price is frozen at 33.70... I am wondering what is going to happen when the market will open in a few hours
hmmm thats odd. i can see my broker price as 33.71. cant tell if you are long or short (I suspect long?)
  • #8,284
  • May 25, 2020 1:04pm May 25, 2020 1:04pm
Quoting iero4
Hi all, I have an open position in WTI since 33.80 ( stop loss placed as well at break even). My broker frozen the chart at 34.09 but when I look at investing.com the price is frozen at 33.70... I am wondering what is going to happen when the market will open in a few hours
.My Cousin also called me to ask me same.
Make it Green
  • #8,285
  • May 25, 2020 1:12pm May 25, 2020 1:12pm
I am long...at least I have another one by my side
You are allowed to fall but you are imposed to get up!
  • #8,286
  • May 25, 2020 1:14pm May 25, 2020 1:14pm
Quoting iero4
I am long...at least I have another one by my side


unless you have guaranteed stops and reputable broker, this is good time to screw you over. because "their liquidity providers gave them a price of 34.09"

lets hope thats not gonna happen
  • #8,287
  • May 25, 2020 1:31pm May 25, 2020 1:31pm
Quoting tonny47
{quote} unless you have guaranteed stops and reputable broker, this is good time to screw you over. because "their liquidity providers gave them a price of 34.09" lets hope thats not gonna happen
Think It's gonna be just 10 pips loss so no big deal
You are allowed to fall but you are imposed to get up!
  • #8,288
  • May 25, 2020 2:24pm May 25, 2020 2:24pm
suggest me a good broker to trade crude oil...
  • #8,289
  • May 25, 2020 4:06pm May 25, 2020 4:06pm
Quoting Ibraheem
suggest me a good broker to trade crude oil...
There are many good brokers but I trade with OANDA. It has a fixed 3 pips spread during the UK/US sessions.
  • #8,290
  • May 25, 2020 4:08pm May 25, 2020 4:08pm
Guys....in how many minutes should the WTI market open?
You are allowed to fall but you are imposed to get up!
  • #8,291
  • May 25, 2020 4:11pm May 25, 2020 4:11pm
WTI went up by $0.81 or 3% today. Quite good given that the UK and US markets were closed and that most brokers stopped trading WTI early
Attached Image (click to enlarge)
Click to Enlarge Name: WTICOUSD-4H1.png Size: 37 KB
  • #8,292
  • May 25, 2020 4:16pm May 25, 2020 4:16pm
Quoting iero4
Guys....in how many minutes should the WTI market open?
Brokers normally close for 1 hour between 5 pm and 6 pm EST. For you in Greece it is 1 am EEST
  • #8,293
  • May 26, 2020 3:52am May 26, 2020 3:52am
https://www.forexfactory.com/showthr...7#post12962977

Attached Image
COT: The precious data ignored
  • #8,294
  • May 26, 2020 6:21am May 26, 2020 6:21am
Quoting kuroro001
https://www.forexfactory.com/showthr...7#post12962977 {image}
looks tempting to short but honestly scary.

if you look at second circle, price still went up 15 dollars higher
  • #8,295
  • May 26, 2020 6:29am May 26, 2020 6:29am
Quoting tonny47
{quote} looks tempting to short but honestly scary. if you look at second circle, price still went up 15 dollars higher
i feel you! I stay away from market as well. Short is tempting and still possible but so far it doesnt want to move down.
I decided to wait until something more clarified happen on the chart.
  • #8,296
  • May 26, 2020 6:34am May 26, 2020 6:34am
Quoting tonny47
{quote} looks tempting to short but honestly scary. if you look at second circle, price still went up 15 dollars higher
it might form another top but H4 trend still remains intact imho
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 66 KB
persistence and determination alone are omnipotent
  • #8,297
  • May 26, 2020 7:28am May 26, 2020 7:28am
Reduced more oil longs in brent still hold the rest.

Volatility in WTI spot is quite low still , real demand for spot. Just bought some more. We might actually get a market without significant reactions at least till the 33-35 in spot.

The basis between spot and futures is the widest its been. At some point the gap between spot and futures will converge. Should take note of futures expiration dates.


If WTI futures collapses, It may likely do so to spot levels. It will have to crash hard.
If WTI futures fall steadily, we may see a steady rise in spot.

if WTI futures remains flat, we may likely see a strong rally in spot.

If WTI futures rallies, spot will rally.

If OVX (volatility index for oil reaches near 150 ) We will more likely get very quick thrusts to the 30's levels, then sharp volatile reactions. (wti spot)

If OVX reaches 150, then wti spot breaks below 10.80 expect further depreciation. ( which is good, buy some more, .) If OVX keeps rising after spot breaks to downside and with very big bars, buy as much as possible. Such behaviour is a sign of turning points and it is also an opportunity to shake out some more longs.

With the above scenarios, Spot crude longs seems to be the best bet between the oils.
  • #8,298
  • May 26, 2020 8:13am May 26, 2020 8:13am
The lower TFs charts show that it wants to go down but the higher TFs doesn't let it. I just took 33 pips from this last move and I am done.

Good luck to all of you guys...
You are allowed to fall but you are imposed to get up!
  • #8,299
  • Edited 10:31am May 26, 2020 8:59am | Edited 10:31am
Quoting tonny47
{quote} looks tempting to short but honestly scary. if you look at second circle, price still went up 15 dollars higher
I'm hedging a small part of my ETF with a short here 34,35 dollars

Will see to add more on the way up, or to kill it
COT: The precious data ignored
  • #8,300
  • May 26, 2020 9:06am May 26, 2020 9:06am
Quoting auricforecas
Very impressive, it seems to rise, even though we have UK and US holiday but also Eid al-Fitr at end of Ramadan and celebration for 1-3days... so for up to the next 2 days... I am very curious how the markets will move without those players in the market... It could go without US but UK is very strong player... in fact, the strongest... So let's see how much markets there is at all, without UK (and US)... I decided to still give it a try... Still betting on UP, even today
Seems to be the right bet It seems WTI is on the roll now... Still betting on up. It seems the demand will be restoring, due to lockdown easing, at least in EU... Seasonality supporting this and also there was a huge "vacuum" before... So yeah, UP we go, if I got it right anyway
Can you afford to take that chance?
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