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WTI Crude Oil Trading

  • #8,641
  • Jun 30, 2020 4:45am Jun 30, 2020 4:45am
Quoting mades
morning horseshit continues. This market completely refuses to drop even to daily pivot. Again another trap for short traders.
The market doesn't do anything by itself. Traders push the market up or down. You saw the chart I posted at post #8,634. It's obvious that traders want the price of oil to go up. It's likely that these bullish traders are oil companies that saw their profits evaporate and will do what is required to push the price up. Of course even if this is legal many will call this manipulation
  • #8,642
  • Jun 30, 2020 7:52am Jun 30, 2020 7:52am
Oil is ranging. Suspect it may stay within this range the rest of the week unless inventory numbers or some other news drives it out. The overall trend is still bullish they’re just not ready to make new highs yet
  • #8,643
  • Jun 30, 2020 1:03pm Jun 30, 2020 1:03pm
Crude (CL) didn't react well to hitting $40 today.
Attached Image (click to enlarge)
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We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #8,644
  • Jun 30, 2020 1:19pm Jun 30, 2020 1:19pm
sellers were waiting up there. looks like we are heading towards the bottom of the range.i bought the rally, sold this drop and i'm already out, too risky holding shorts

api data later today may help it go down
  • #8,645
  • Jun 30, 2020 4:19pm Jun 30, 2020 4:19pm
Quoting Kwame Freder
sellers were waiting up there. looks like we are heading towards the bottom of the range.i bought the rally, sold this drop and i'm already out, too risky holding shorts api data later today may help it go down
I agree that it's more risky holding shorts than holding longs. The WTI finished the day at the level it started plus $0.19. Because of the low trading range of $1.20 it was a less than average trading day with only a few good trading opportunities.
Attached Image (click to enlarge)
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  • #8,646
  • Jul 1, 2020 7:17am Jul 1, 2020 7:17am
Big sell off happening, let’s see if it breaks this first support level
  • #8,647
  • Jul 1, 2020 9:41am Jul 1, 2020 9:41am
Definitely did not expect a -7.2M deficit on crude oil. expecting that this will hold long buyers in their place and drive up the price further before the long-expected rebound downward comes
  • #8,648
  • Jul 1, 2020 9:59am Jul 1, 2020 9:59am
Quoting Kwame Freder
Big sell off happening, let’s see if it breaks this first support level
Getting information from the chart is becoming more valuable as time goes on because news is not reliable, not to say I know anything more than the next person but my bias is down, as far as 17, not that I have the 's to hold to this level if it were to go, just explaining what I see, I could and have been wrong more times than enough
I don't need to be good at the game, only good enough to beat my opponent,
  • #8,649
  • Jul 1, 2020 10:11am Jul 1, 2020 10:11am
bit of indecision here, best to wait and see how it pans out. in any trade taken the most important part is your exit strategy if it doesn't go your way.
  • #8,650
  • Jul 1, 2020 1:43pm Jul 1, 2020 1:43pm
something big must be coming cuz this indecision and price action is god awful
  • #8,651
  • Jul 1, 2020 2:59pm Jul 1, 2020 2:59pm
LCrude 4H, nice setup
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  • #8,652
  • Jul 1, 2020 4:12pm Jul 1, 2020 4:12pm
This is quite unusual WTI ended the day at the same price as yesterday. The only difference being a higher trading range of $1.47 today as compared to $1.20 yesterday.
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  • #8,653
  • Jul 2, 2020 1:57pm Jul 2, 2020 1:57pm
a reluctantly bullish push up to the top of the range. terrible trading conditions. too high to buy and too risky to short in my opinion. feels like the setup for a big move, maybe tonight or a friday surprise.
  • #8,654
  • Jul 2, 2020 3:28pm Jul 2, 2020 3:28pm
Quoting Kwame Freder
a reluctantly bullish push up to the top of the range. terrible trading conditions. too high to buy and too risky to short in my opinion. feels like the setup for a big move, maybe tonight or a friday surprise.
I hope its gone by the next week. I remember that almost every asset has usually one really bad week per year, usually during summer. I hope we got oils with this one.
  • #8,655
  • Jul 2, 2020 4:14pm Jul 2, 2020 4:14pm
WTI went up by $0.62 or 2% today but there a few good trading opportunities within the low trading range of $1.28.
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  • #8,656
  • Jul 3, 2020 10:04am Jul 3, 2020 10:04am
Typical holiday volume:
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We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #8,657
  • Jul 3, 2020 11:53am Jul 3, 2020 11:53am
Quoting EventsTrader
Typical holiday volume: {image}
You got that right. This low volume produced a low trading range of only $0.60 so far today
  • #8,658
  • Jul 3, 2020 4:20pm Jul 3, 2020 4:20pm
WTI gained $0.07 today in a low volume and low volatility environment not worth our trading time
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  • #8,659
  • Jul 3, 2020 5:19pm Jul 3, 2020 5:19pm
Last two weeks have been crappy. Lots of accumulation, when it breaks out it will be big. Not sure if bulls are running out of a steam or coiling to spring north. Hope we get better trading days ahead
  • #8,660
  • Jul 4, 2020 11:03am Jul 4, 2020 11:03am
Quoting Kwame Freder
Last two weeks have been crappy. Lots of accumulation, when it breaks out it will be big. Not sure if bulls are running out of a steam or coiling to spring north. Hope we get better trading days ahead
With the summer vacation comes low volume trading so I expect the better trading days only in September.
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