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WTI Crude Oil Trading

  • #9,141
  • Jan 5, 2021 4:48pm Jan 5, 2021 4:48pm
Quoting Kwame Freder
if opec news doesn't push it pass $50, it will probably fall again
WTI went up $2.46 today and did surpass the $50 price on my source chart. The high ATR produced a very good trading day.
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  • #9,142
  • Jan 6, 2021 9:53am Jan 6, 2021 9:53am
to me it hasn't broken the resistance in the $50 area yet but is trying its hardest to
  • #9,143
  • Jan 6, 2021 4:15pm Jan 6, 2021 4:15pm
WTI went up 71¢ today but it finally closed above $50 while the low ATR produced only good trades.
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  • #9,144
  • Jan 7, 2021 8:41am Jan 7, 2021 8:41am
Quoting Hutch
WTI went up 71¢ today but it finally closed above $50 while the low ATR produced only good trades. {image}
hello, would you mind sharing how to read your chart?
  • #9,145
  • Jan 7, 2021 4:14pm Jan 7, 2021 4:14pm
WTI went up 41¢ and stayed all day in a tight range above $50 that was a waste of time for traders.
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  • #9,146
  • Jan 8, 2021 4:24pm Jan 8, 2021 4:24pm
WTI went up $1.78 almost in a straight line today so it was a very good trading day.
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  • #9,147
  • Jan 11, 2021 4:18pm Jan 11, 2021 4:18pm
WTI went down 50¢ today but the low ATR produced a few good trades.
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  • #9,148
  • Jan 12, 2021 4:13pm Jan 12, 2021 4:13pm
WTI went up $1.11 today with an average ATR that produced quite good trades.
Attached Image (click to enlarge)
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  • #9,149
  • Jan 12, 2021 6:44pm Jan 12, 2021 6:44pm
Quoting Hutch
WTI went up $1.11 today with an average ATR that produced quite good trades. {image}
If you look at gasoline prices I think WTI will continue up. Demand is rising and crack spreads are wide.

That could all change if corona strikes hard enough though...
careful not to step in a pile of it
  • #9,150
  • Jan 13, 2021 4:12pm Jan 13, 2021 4:12pm
Quoting bulltrap
{quote} If you look at gasoline prices I think WTI will continue up. Demand is rising and crack spreads are wide. That could all change if corona strikes hard enough though...
Thank you for the information. The second wave of that darn corona virus is worse than the first so I doubt that it will beat it quickly. Once beaten though the energy market will surely benefit.
  • #9,151
  • Jan 13, 2021 4:14pm Jan 13, 2021 4:14pm
WTI went down 41¢ today with a below average ATR that produced very good trades.
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  • #9,152
  • Jan 14, 2021 4:24pm Jan 14, 2021 4:24pm
WTI went up 85¢ today with an average ATR that produced 1 average trade, 1 break even trade and a rare trade of 120+ pips.
Attached Image (click to enlarge)
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  • #9,153
  • Jan 15, 2021 1:43pm Jan 15, 2021 1:43pm
This rally in crude started back at the start of November when Russia announced they'd potentially support delaying the output taper. That was a strong signal that Russia (OPEC+) was going to play nice with the Saudis (OPEC) and it's turned out to be true. You've gotta wonder how much upside there is with demand still a big question mark for the foreseeable future. It's been on a tear:
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We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #9,154
  • Jan 15, 2021 4:24pm Jan 15, 2021 4:24pm
WTI was totally the opposite of yesterday going down $1.64 with an excellent trade at the beginning of the session and another small trade.
Attached Image (click to enlarge)
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  • #9,155
  • Jan 16, 2021 5:37am Jan 16, 2021 5:37am
Quoting Hutch
WTI went up 85¢ today with an average ATR that produced 1 average trade, 1 break even trade and a rare trade of 120+ pips. {image}
Hutch, why would you have not entered short (and closed your long trade) after the first red down brick at the 2 positions I marked? In the live environment there was a down arrow AND the FxbayMACD was negative.
Thanks!
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  • #9,156
  • Jan 16, 2021 2:42pm Jan 16, 2021 2:42pm
Quoting Olarion1975
{quote} Hutch, why would you have not entered short (and closed your long trade) after the first red down brick at the 2 positions I marked? In the live environment there was a down arrow AND the FxbayMACD was negative. Thanks! {image}
This chart is the same live chart but with wicks. To enter into a trade you need both the arrow and the FxBay MACD to correspond. There was no down arrow but the FxBay MACD went slightly negative. Both of these bricks had a volume of zero so no wicks as indicated by the red up arrow I put in the chart. Because of the way Renko works it will always produce a brick even if there is a gap. In the second chart (natural gas) the first 6 bricks of 11 January had no volume. There was a big gap when the session opened but Renko still produced 6 red bricks before the first aqua brick.
Attached Image(s) (click to enlarge)
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  • #9,157
  • Jan 18, 2021 4:23pm Jan 18, 2021 4:23pm
WTI went up 3¢ today with a very low ATR that provided only a 2 lousy trades.
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  • #9,158
  • Jan 19, 2021 4:25pm Jan 19, 2021 4:25pm
WTI went up 89¢ today with a low ATR that produced a break even trade and quite a good trade (second arrow for 50 pips).
Attached Image (click to enlarge)
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  • #9,159
  • Jan 20, 2021 9:18am Jan 20, 2021 9:18am
looking a bit "toppy", but i will not short this
  • #9,160
  • Jan 20, 2021 3:43pm Jan 20, 2021 3:43pm
Quoting Hutch
WTI went up 89¢ today with a low ATR that produced a break even trade and quite a good trade (second arrow for 50 pips). {image}
Go baby go!

Quoting EventsTrader
That was a strong signal that Russia (OPEC+) was going to play nice with the Saudis (OPEC) and it's turned out to be true.
That is key to bullish oil right now. If I get even a whiff of the Saudis back peddling, I'm out.
careful not to step in a pile of it
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