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WTI Crude Oil Trading

  • #8,461
  • Jun 13, 2020 8:29am Jun 13, 2020 8:29am
Quoting kuroro001
Another week of massive buying for oil traders. More dip ahead? {image}
How does this work exactly? If there is massive buying, wouldn't that push price higher?
  • #8,462
  • Jun 13, 2020 9:25am Jun 13, 2020 9:25am
Quoting tonny47
{quote} How does this work exactly? If there is massive buying, wouldn't that push price higher?
Actually yes and no

Buying will push prices higher, but extreme buying won't give space up. MM will take profits and exit their massive long bets, cool it off, and buy lower
COT: The precious data ignored
  • #8,463
  • Jun 15, 2020 4:31am Jun 15, 2020 4:31am
Looking at 36.20 and 37.33 for now, then seeking to sell
COT: The precious data ignored
  • #8,464
  • Jun 15, 2020 10:23am Jun 15, 2020 10:23am
Quoting kuroro001
Looking at 36.20 and 37.33 for now, then seeking to sell
You like to see the gap been closed. Seems like it's going to close
  • #8,465
  • Jun 15, 2020 10:25am Jun 15, 2020 10:25am
Quoting kuroro001
Looking at 36.20 and 37.33 for now, then seeking to sell
First target done

Second is now in range of 37.17/37.33
COT: The precious data ignored
  • #8,466
  • Jun 15, 2020 10:26am Jun 15, 2020 10:26am
Quoting tonny47
{quote} You like to see the gap been closed. Seems like it's going to close
Gap is 36.7 on my platform

I wasn't looking at it really

I was looking at daily/weekly pivot + some resistances
COT: The precious data ignored
  • #8,467
  • Jun 15, 2020 10:34am Jun 15, 2020 10:34am
Quoting kuroro001
{quote} Gap is 36.7 on my platform I wasn't looking at it really I was looking at daily/weekly pivot + some resistances
My gap was 36.34, just closed
  • #8,468
  • Jun 15, 2020 10:46am Jun 15, 2020 10:46am
CL July contract almost closed
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 25 KB
persistence and determination alone are omnipotent
  • #8,469
  • Jun 15, 2020 10:47am Jun 15, 2020 10:47am
Shorted on 5 min pinbar as gap closed. Also nice 15 min pinbar formed. SL now at BE @ 36.24. tight. Let's see if I can get 30 -40 cents
  • #8,470
  • Jun 15, 2020 10:48am Jun 15, 2020 10:48am
Opec deal cut production
  • #8,471
  • Jun 15, 2020 11:04am Jun 15, 2020 11:04am
Quoting tonny47
Shorted on 5 min pinbar as gap closed. Also nice 15 min pinbar formed. SL now at BE @ 36.24. tight. Let's see if I can get 30 -40 cents
Stopped out at +2 cents. Went in my favour 25 cents, thought I would let it breathe. Oh well
  • #8,472
  • Jun 15, 2020 11:10am Jun 15, 2020 11:10am
Quoting tonny47
{quote} My gap was 36.34, just closed
Edit: sorry, was looking at continuous contract. Gap would be closed at 36.52 on futures
  • #8,473
  • Jun 15, 2020 12:20pm Jun 15, 2020 12:20pm
Quoting kuroro001
{quote} First target done Second is now in range of 37.17/37.33
Closing all at 37 dollars right below previous daily high

New day tomorrow
COT: The precious data ignored
  • #8,474
  • Jun 15, 2020 12:39pm Jun 15, 2020 12:39pm
Going back to my main idea now

Long Gas (1,76), short crude oil (37).
May add another one if the spread widen more (regarding COT as well)

Attached Image
COT: The precious data ignored
  • #8,475
  • Jun 15, 2020 12:42pm Jun 15, 2020 12:42pm
Quoting kuroro001
Going back to my main idea now Long Gas (1,76), short crude oil (37). May add another one if the spread widen more (regarding COT as well) {image}
Oh ok, you already are short August contract. I kept looking at July. where did you get in long oil earlier today?
  • #8,476
  • Jun 15, 2020 12:54pm Jun 15, 2020 12:54pm
Quoting tonny47
{quote} Oh ok, you already are short August contract. I kept looking at July. where did you get in long oil earlier today?
Platform of the broker darwinex got continuous contract at 37 dollars right now

And today i was long from 35,6 until 35,3...was buying inside that window (was buying above the daily S1 for a break of the Daily pivot)
COT: The precious data ignored
  • #8,477
  • Jun 15, 2020 1:24pm Jun 15, 2020 1:24pm
Quoting kuroro001
{quote} Closing all at 37 dollars right below previous daily high New day tomorrow
Should have waited that 37.33
All done for today, important levels reached
COT: The precious data ignored
  • #8,478
  • Jun 15, 2020 1:28pm Jun 15, 2020 1:28pm
Wow....what a rally! Got scared half way through and sold!!! :-( Now.......will it fall greatly before it "potentially" goes up to the 40+?
  • #8,479
  • Jun 15, 2020 2:14pm Jun 15, 2020 2:14pm
Quoting Kwame Freder
We had some downward pressure this week with yesterday giving us the biggest one day drop since mid April however there seems to be an underlying bullish presence with every push down being bought. I suspect we could get a surprise rally next week. My advice to bears would be not to walk away from any trade cause they could end up underwater in a hurry
I think we will get another 100 - 150 pips up
  • #8,480
  • Jun 15, 2020 4:15pm Jun 15, 2020 4:15pm
It was almost impossible to lose money trading WTI today. It went up by $1.30 but had a very good trading range of $2.87.
Attached Image (click to enlarge)
Click to Enlarge Name: WTICOUSDM2.png Size: 36 KB
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