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WTI Crude Oil Trading

  • #9,221
  • Feb 25, 2021 6:23pm Feb 25, 2021 6:23pm
doesn't seem to have the energy to break lower so probably get a break higher to end the week
  • #9,222
  • Feb 25, 2021 9:25pm Feb 25, 2021 9:25pm
Has held up/advanced in amazing fashion, last night (Thursday US) encouraging, both Dow and The Precious One (GLD) down. Still a hold for me : )
"Don't Shoot Me I'm Only the Piano Player"
  • #9,223
  • Feb 26, 2021 8:05am Feb 26, 2021 8:05am
Quoting Mcbeaners
{quote} this one was a bust. let's try again. i'm long from 60.83ish looking for 65.62 ish by the end of day 25th feb {image}
didn't make target and window is now closed. heading down for a bit imo.
Attached Image (click to enlarge)
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In tea leaves we trust!
  • #9,224
  • Feb 26, 2021 9:23am Feb 26, 2021 9:23am
i don't trust this down move, wouldn't be shocked if there was a big bounce and a Friday afternoon rally above $63. with that said i'm done for the week, will look to buy dips next week.
  • #9,225
  • Feb 26, 2021 10:56am Feb 26, 2021 10:56am
Looks like some guys still slogging it out in oil. Still a bull market.
  • #9,226
  • Feb 26, 2021 4:33pm Feb 26, 2021 4:33pm
Quoting Kwame Freder
i don't trust this down move, wouldn't be shocked if there was a big bounce and a Friday afternoon rally above $63. with that said i'm done for the week, will look to buy dips next week.
Well you got your dip as WTI went down $1.86 today with an average ATR that produced 2 break even trades and 8 winning trades. Today was the best trading condition this month.
Attached Image (click to enlarge)
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  • #9,227
  • Mar 1, 2021 4:17pm Mar 1, 2021 4:17pm
WTI went down $1.41 today with a high ATR that produced 1 break even trade and 7 winning trades. A good start for this month.
Attached Image (click to enlarge)
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  • #9,228
  • Mar 2, 2021 4:31pm Mar 2, 2021 4:31pm
WTI went down 74¢ or 1% today with an average ATR that produced many winning trades but 3 losing trades is too many. Looks like trading is more erratic these days without a firm direction.
Attached Image (click to enlarge)
Click to Enlarge Name: WTICOUSDM12.png Size: 45 KB
  • #9,229
  • Mar 3, 2021 11:34am Mar 3, 2021 11:34am
We've never seen such disparity between crude and gasoline/distillate inventories. A record build in crude along with record draws in gasoline/distillates. Interesting times. After an initial spike lower crude (CME CL) rallies by almost $1. There's good reason. Usually all three (CL, HO, and RB) take the same direction and it's not always on the crude data. This time the draws in gas/disillates outweighed the build in crude.
Attached Image

Crude record build:
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Click to Enlarge Name: SNAG-0424.png Size: 22 KB

Gasoline record draw:
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Click to Enlarge Name: SNAG-0426.png Size: 21 KB

Distillates record draw:
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We must learn who is gold, and who is gold plated
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  • #9,230
  • Mar 3, 2021 4:29pm Mar 3, 2021 4:29pm
WTI went up $1.59 or 3% today with a high ATR that produced 1 break even trade and 9 winning trades. A lot better than yesterday.
Oddly WTI went up as inventory went up the most since last July.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: Oil.png Size: 20 KB
  • #9,231
  • Mar 4, 2021 10:36am Mar 4, 2021 10:36am
wow it blew pass $63 dollars in the blink of an eye. Could $70 be on the cards soon?? i will continue on the long side
  • #9,232
  • Mar 4, 2021 4:23pm Mar 4, 2021 4:23pm
WTI went up $2.96 today with a very high ATR that produced 12 winning trades, 3 break even trades and 3 losing trades. Even with the 3 losing trades it was the best trading day this year. The ATR was so high that there wasn't enough space to show the whole chart.
Attached Image (click to enlarge)
Click to Enlarge Name: WTICOUSDM12.png Size: 33 KB
  • #9,233
  • Mar 4, 2021 11:00pm Mar 4, 2021 11:00pm
I would avoid Oil for now, there's too much risk on both direction. Either a profit taking or a short squeeze is coming
  • #9,234
  • Mar 5, 2021 1:33am Mar 5, 2021 1:33am
Yeah, no doubt about it, 63.80. : ) Looks like the Precious One (GLD) in a bit of trouble under 1700. All good : )
"Don't Shoot Me I'm Only the Piano Player"
  • #9,235
  • Mar 5, 2021 3:55pm Mar 5, 2021 3:55pm
Quoting grandia
I would avoid Oil for now, there's too much risk on both direction. Either a profit taking or a short squeeze is coming
No debate here . What a wild ride it's been.
We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #9,236
  • Mar 5, 2021 4:34pm Mar 5, 2021 4:34pm
Quoting EventsTrader
{quote} No debate here . What a wild ride it's been.
WTI gaining more than $5 in 2 days is a wild ride all right
  • #9,237
  • Mar 5, 2021 4:37pm Mar 5, 2021 4:37pm
WTI went up $2.24 today with an average ATR that produced 2 losing trades, 4 break even trades and a dozen winners.
Attached Image (click to enlarge)
Click to Enlarge Name: WTICOUSDM12.png Size: 40 KB
  • #9,238
  • Edited 8:14pm Mar 5, 2021 7:40pm | Edited 8:14pm
Quoting Hutch
{quote} WTI gaining more than $5 in 2 days is a wild ride all right
Couldn't have said it better myself Hutch ; )
"Don't Shoot Me I'm Only the Piano Player"
  • #9,239
  • Mar 5, 2021 8:01pm Mar 5, 2021 8:01pm
yeah and if you see the hourly candles, it's going up with steady and small candles

I imagine this is the result of simultaneous profit taking / stop loss getting hit
and at the end of this will be a giant rekt candle (either bull/bear candle)

stay safe!
  • #9,240
  • Edited 8:52pm Mar 5, 2021 8:17pm | Edited 8:52pm
Quoting grandia
yeah and if you see the hourly candles, it's going up with steady and small candles I imagine this is the result of simultaneous profit taking / stop loss getting hit and at the end of this will be a giant rekt candle (either bull/bear candle) stay safe!
Granted, but then open interest/volume has been slowly increasing when averaged out over the past few sessions, possibly a positive sign in this solidly trending bull market.
"Don't Shoot Me I'm Only the Piano Player"
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