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WTI Crude Oil Trading

  • #8,721
  • Jul 17, 2020 4:16pm Jul 17, 2020 4:16pm
Quoting Kwame Freder
crappy day!
WTI went down by $0.12 today but, unlike yesterday, I had two good trades
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  • #8,722
  • Jul 18, 2020 5:34am Jul 18, 2020 5:34am
Quoting Hutch
{quote} WTI went down by $0.12 today but, unlike yesterday, I had two good trades {image}
whats your renko setting?
  • #8,723
  • Jul 18, 2020 9:36am Jul 18, 2020 9:36am
Hello fellow traders.

Quoting mades
WTI/Brent is even more allergic to any drop. Kinda tragicomical what's been happening sofar in July.
mades I was drawn in by your recent comment because I have been waiting for a good time to buy Brent and sell WTI. Have you been following the spread for awhile? I feel it will retrace to where it was months ago, Brent prices were lagging WTI in the recent meltdown and I don’t see the overall relationship (transportation cost, distribution etc.) as significantly changed but could be missing something.

My approach usually requires careful entry and a medium term investment horizon.
careful not to step in a pile of it
  • #8,724
  • Jul 18, 2020 3:20pm Jul 18, 2020 3:20pm
Quoting mades
{quote} whats your renko setting?
My strategy is here https://www.forexfactory.com/showthr...5#post13053615 but please also take a look at the charts that I posted on the same page. Happy trading
  • #8,725
  • Jul 18, 2020 5:32pm Jul 18, 2020 5:32pm
Nasdaq could collapse at any minute during the next 6 months

Nasdaq collapse should be very negative for oil.

Nasdaq Composite & SP500 for 1990 - 2020:
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  • #8,726
  • Jul 18, 2020 5:40pm Jul 18, 2020 5:40pm
Quoting Hutch
{quote} My strategy is here https://www.forexfactory.com/showthr...5#post13053615 but please also take a look at the charts that I posted on the same page. Happy trading
ah half-trend and 10 pip, thank you.
  • #8,727
  • Edited 6:08pm Jul 19, 2020 5:39pm | Edited 6:08pm
Quoting timingchain
Nasdaq could collapse at any minute during the next 6 months Nasdaq collapse should be very negative for oil. Nasdaq Composite & SP500 for 1990 - 2020: {image}
I think there is a good reason for Nasdaq doing so well, I would not necessarily expect it to be as correlated with say S&P 500/oil - lot of tech companies are benefiting from Corona - Netflix, Moderna, Ebay...
  • #8,728
  • Jul 19, 2020 5:42pm Jul 19, 2020 5:42pm
Threat of second wave in the US - could this result in WTI drop in the next week or two(?)
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  • #8,729
  • Jul 20, 2020 11:50am Jul 20, 2020 11:50am
just when they have managed to convince everyone to go short, watch it take off like a rocket
  • #8,730
  • Jul 20, 2020 12:27pm Jul 20, 2020 12:27pm
Quoting Kwame Freder
just when they have managed to convince everyone to go short, watch it take off like a rocket
Normally, I am biased to one side but now I just don't know (I am slightly more bullish than bearish) although there is enough info to support both views
  • #8,731
  • Jul 20, 2020 4:09pm Jul 20, 2020 4:09pm
WTI went up by $0.08 today but it was a good trading day within the $1.04 trading range.
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  • #8,732
  • Edited 3:54am Jul 21, 2020 3:40am | Edited 3:54am
Break up, false break (spring) or double top?

about damn time, now lets hope for rapid increase of ADR back to 200+.
  • #8,733
  • Jul 21, 2020 4:17pm Jul 21, 2020 4:17pm
Quoting mades
Break up, false break (spring) or double top? about damn time, now lets hope for rapid increase of ADR back to 200+.
Not 200 but 175 is quite good. WTI finally broke up above $40 gaining $0.73 today.
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  • #8,734
  • Jul 22, 2020 3:51pm Jul 22, 2020 3:51pm
This is a very important level for crude, at round the price where we opened up after a gap down on news of Saudis launching the price war.
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We must learn who is gold, and who is gold plated
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  • #8,735
  • Jul 22, 2020 4:14pm Jul 22, 2020 4:14pm
WTI went up by $0.36 today but is still stuck in the low $40s.
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  • #8,736
  • Jul 22, 2020 5:36pm Jul 22, 2020 5:36pm
Quoting Hutch
WTI went up by $0.36 today but is still stuck in the low $40s. {image}
Yeep & it's going to hoover between hopefully $40 & £50 mark, however i do not apply technical from this point onward. Gap has been filled and in real life i expect WTI to realistically trade within $36 & $45 pb based on daily news etc
  • #8,737
  • Jul 23, 2020 10:46am Jul 23, 2020 10:46am
so it shifted up rather than breaking out and has formed another range. i guess we have to take what the market is giving and adjust to these conditions
  • #8,738
  • Jul 23, 2020 4:18pm Jul 23, 2020 4:18pm
Quoting Kwame Freder
so it shifted up rather than breaking out and has formed another range. i guess we have to take what the market is giving and adjust to these conditions
The market is stingy these days but still gave me a few good trades. WTI went down by $0.82 today and it's obvious that it wants to remain in the low $40s.
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  • #8,739
  • Jul 23, 2020 5:13pm Jul 23, 2020 5:13pm
This last move up sends off alarm bells. I’m anticipating a drop maybe $3 - $4 worth
  • #8,740
  • Jul 24, 2020 4:18pm Jul 24, 2020 4:18pm
WTI went up by $0.31 today. WTI still has a hard time going above $40.
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