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WTI Crude Oil Trading

  • #8,961
  • Oct 25, 2020 3:38pm Oct 25, 2020 3:38pm
Quoting kstiks
I'm also waiting for a short 41.15 but I'm closing at 39.07 or something like this I don't want before. The second wave of Corona virus should not be ignored .... there are more and more problems. There's still room to move down .... I hope.
Hope you managed to hold it as planned. I opened similar trade like 2 weeks ago with almost identical entry and exit price but didn't have patience to wait it through. Opened short today few min after market open at 39.48 with target at 38.91. Price spiked down 9th minute after market open over 50 cents in literally in few seconds. Incredible luck.
  • #8,962
  • Oct 25, 2020 11:08pm Oct 25, 2020 11:08pm
Quoting tonny47
{quote} Hope you managed to hold it as planned. I opened similar trade like 2 weeks ago with almost identical entry and exit price but didn't have patience to wait it through. Opened short today few min after market open at 39.48 with target at 38.91. Price spiked down 9th minute after market open over 50 cents in literally in few seconds. Incredible luck.

Congratulations. Yes, I'm still waiting. I have patience but now I'm not sure how far down this can go. It revolves around 39 could be a breakthrough even at 38.40 ... we'll see.
  • #8,963
  • Oct 26, 2020 12:13am Oct 26, 2020 12:13am
Quoting kstiks
{quote} Congratulations. Yes, I'm still waiting. I have patience but now I'm not sure how far down this can go. It revolves around 39 could be a breakthrough even at 38.40 ... we'll see.
that's brilliant. i would have done much better without constant getting in and out. i think it will go lower but out now. not sure if it will retrace little bit or not
  • #8,964
  • Oct 26, 2020 2:16pm Oct 26, 2020 2:16pm
WTI went down $1.09 today and $1.97 in the last two trading sessions. WTI really has a hard time staying above $40.
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  • #8,965
  • Oct 27, 2020 4:26am Oct 27, 2020 4:26am
Hutch which renko software are you using please?
  • #8,966
  • Oct 27, 2020 2:21pm Oct 27, 2020 2:21pm
Quoting maximus71
Hutch which renko software are you using please?
I use STS Renko (used to be STG Renko). You can find it in this thread:

https://www.forexfactory.com/thread/...erator-for-mt4
  • #8,967
  • Oct 27, 2020 2:25pm Oct 27, 2020 2:25pm
WTI went up 35¢ today but was up $1.23 earlier in the day. The news of the large crude oil stocks of 4.55 million bbls cooled the bulls in the last hour of trading.
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  • #8,968
  • Oct 28, 2020 4:07am Oct 28, 2020 4:07am
Quoting tonny47
{quote} Oil seemed to be ignoring that fact. Lot of support in the way, not sure if it's going to break lower before weekend

Closed at 37.80 you just had to be patient. I think it will go even lower, but the money in the pocket is still nice. No need to be greedy. Now, what happens next?
  • #8,969
  • Oct 28, 2020 12:18pm Oct 28, 2020 12:18pm
#BRENT / Weekly, Daily & H4
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  • #8,970
  • Oct 28, 2020 2:18pm Oct 28, 2020 2:18pm
WTI went down $1.55 today and never showed any strength. This is probably due to yesterday's high inventory news.
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  • #8,971
  • Oct 29, 2020 7:46am Oct 29, 2020 7:46am
Massive oil buying down there
COT: The precious data ignored
  • #8,972
  • Oct 29, 2020 10:52am Oct 29, 2020 10:52am
I am so gutted. Opened extra large long I could not afford at 35.01, once price moved 15 cents in my favour, moved to break even, only for price to pop exactly to 35.01 and then move high very fast. Could have been spectacular trade. Then I was reluctant to get in again to chase the price
  • #8,973
  • Oct 29, 2020 2:41pm Oct 29, 2020 2:41pm
WTI started sliding down at the opening of the trading session going to a low of $34.73 before the bulls woke up bringing the price up to $36.29. This wasn't enough though since WTI ended the day down by $1.25. With an ATR almost twice the 10-day average there were lots of trading opportunities.
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  • #8,974
  • Oct 30, 2020 5:55am Oct 30, 2020 5:55am
Bulls defending below $36. Expecting a rebound
  • #8,975
  • Oct 30, 2020 2:17pm Oct 30, 2020 2:17pm
WTI went down 34¢ today but the up and down moves provided many trading opportunities despite the below average ATR.
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  • #8,976
  • Oct 31, 2020 3:02pm Oct 31, 2020 3:02pm
Quoting Kwame Freder
Bulls defending below $36. Expecting a rebound
lot more lockdowns across Europe now, I wouldn't bet on this level holding
  • #8,977
  • Nov 1, 2020 12:06pm Nov 1, 2020 12:06pm
Quoting tonny47
{quote} lot more lockdowns across Europe now, I wouldn't bet on this level holding
As traders whether oil or natural gas goes up or down we shouldn't care since we can make money on the way up as well as on the way down.
  • #8,978
  • Nov 1, 2020 12:33pm Nov 1, 2020 12:33pm
Quoting Hutch
{quote} As traders whether oil or natural gas goes up or down we shouldn't care since we can make money on the way up as well as on the way down.
Fair comment. All I am saying is that I will be probably look for short positions
  • #8,979
  • Nov 1, 2020 3:03pm Nov 1, 2020 3:03pm
Expected like 30 cents gap down at the back of UK lockdown followed by a move down but first few minutes after market open just now surprised me with such a sharp sudden drop
  • #8,980
  • Nov 2, 2020 6:26am Nov 2, 2020 6:26am
Yeah the lockdowns are creating downward pressure but you also have other forces that do not want oil at this level. We willl probably get swings both ways
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