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WTI Crude Oil Trading

  • #9,341
  • Apr 8, 2021 10:29am Apr 8, 2021 10:29am
Since March 19th crude (CME CL) has stayed in a tight trading range of about $5. It's wise to wait for a break in either direction before getting back in.
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  • #9,342
  • Apr 8, 2021 12:15pm Apr 8, 2021 12:15pm
when it breaks out of consolidation the move should be significant. either near $70 or $50.
  • #9,343
  • Apr 8, 2021 4:18pm Apr 8, 2021 4:18pm
Quoting Kwame Freder
when it breaks out of consolidation the move should be significant. either near $70 or $50.
I have seen consolidation but this is ridiculous when the ATR isn't even half of the 10-day average. WTI went up 23¢ today but, although there were no losing trades, trading was a complete waste of time.
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  • #9,344
  • Apr 8, 2021 5:20pm Apr 8, 2021 5:20pm
Quoting Hutch
{quote} I have seen consolidation but this is ridiculous when the ATR isn't even half of the 10-day average. WTI went up 23¢ today but, although there were no losing trades, trading was a complete waste of time. {image}
i agree, but I’m sure that when it finally does break out, it will be significant
  • #9,346
  • Apr 9, 2021 8:06am Apr 9, 2021 8:06am
Quoting Kwame Freder
when it breaks out of consolidation the move should be significant. either near $70 or $50.
Agree!
We must learn who is gold, and who is gold plated
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  • #9,347
  • Apr 9, 2021 4:18pm Apr 9, 2021 4:18pm
Again the ATR is less than half the 10-day average but low ATRs will make that average go down further. WTI went up 46¢ today but the low ATR produced 5 winning trades. Unfortunately these trades were too small to be significant.
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  • #9,349
  • Apr 12, 2021 4:22pm Apr 12, 2021 4:22pm
WTI went up 31¢ today with an average ATR that produced 5 winning trades. Noteworthy is the trade from the second arrow that went up 150 ticks.
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  • #9,350
  • Apr 13, 2021 11:25am Apr 13, 2021 11:25am
potential head and shoulder?
but the week is still early.
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  • #9,351
  • Apr 13, 2021 12:01pm Apr 13, 2021 12:01pm
#BRENT / Weekly, Daily & H4
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  • #9,352
  • Apr 13, 2021 4:22pm Apr 13, 2021 4:22pm
WTI went up 82¢ today with a very low ATR of 94 that produced garbage trades - 3 minuscule winners and 3 break even trades.
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  • #9,353
  • Apr 14, 2021 7:06am Apr 14, 2021 7:06am
will see whether the week can close above resistance.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #9,354
  • Apr 14, 2021 8:42am Apr 14, 2021 8:42am
currently at the top of the consolidation range. we have inventory numbers coming out also. lets see if it breaks out or heads back down
  • #9,355
  • Apr 14, 2021 9:53am Apr 14, 2021 9:53am
Quoting Kwame Freder
currently at the top of the consolidation range. we have inventory numbers coming out also. lets see if it breaks out or heads back down
With an inventory level 3 million BBLs above consensus no wonder WTI is going up at this time.
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  • #9,356
  • Apr 14, 2021 4:18pm Apr 14, 2021 4:18pm
With the lowering of the crude oil inventory WTI went up $2.29 today with a very high ATR that produced 1 short trades and an excellent long trade if you consider the last arrow of yesterday.
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  • #9,357
  • Apr 15, 2021 4:24pm Apr 15, 2021 4:24pm
Unlike yesterday it was a lousy trading day as WTI went up 57¢ with a very low ATR that produced 5 small winning trades and a losing trade that should not have been taken due to a short false signal (indicated by a "x") that should not have been taken since the next brick was long.
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  • #9,358
  • Apr 15, 2021 8:21pm Apr 15, 2021 8:21pm
going up.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #9,359
  • Apr 16, 2021 11:04am Apr 16, 2021 11:04am
Crude (CME CL) was in a tight trading range for a couple of weeks (posted about it here). I wasn't sure which way it would break. The recent surge back above the $62 is a bullish sign.
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We must learn who is gold, and who is gold plated
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  • #9,360
  • Apr 16, 2021 11:48am Apr 16, 2021 11:48am
not much happening today, maybe we get a late afternoon push but i'm done til next week.
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