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WTI Crude Oil Trading

  • #9,381
  • Apr 21, 2021 8:43pm Apr 21, 2021 8:43pm
Quoting swagtrading
WTI broke above its range on the 4H chart and is sustaining. Going long with a stop below $61.90. Target based on daily chart being nearly $66.50. Trade offering good risk-reward. 4H chart: {image} Daily Chart: {image}
Got stopped out here, but now it looks a drop towards $58 is underway.

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  • #9,382
  • Apr 22, 2021 4:30pm Apr 22, 2021 4:30pm
WTI went up 57¢ today with a lower than average ATR that produced one losing trades and 6 winning trades. This was an odd day since for an unknown reason the Half Trend missed producing a signal as indicated by the vertical line.
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  • #9,383
  • Apr 23, 2021 9:36am Apr 23, 2021 9:36am
Some risk-on sentiment suddenly coming into the market pushing crude prices higher. Some volume coming into the futures market with this rally (CME CL):
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We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #9,384
  • Apr 23, 2021 2:27pm Apr 23, 2021 2:27pm
Quoting EventsTrader
Some risk-on sentiment suddenly coming into the market pushing crude prices higher. Some volume coming into the futures market with this rally (CME CL): {image}
Since the CME is more representative than any broker's CFDs it looks like that the big boys are pushing the price up.
  • #9,385
  • Apr 23, 2021 4:16pm Apr 23, 2021 4:16pm
WTI went up 40¢ today with a low ATR that produced 3 break even trades and 5 winning trades. Please note that the last arrow is probably a repainter because the FxBay MACD is above the zero line.
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  • #9,386
  • Apr 26, 2021 6:33am Apr 26, 2021 6:33am
#BRENT / H4
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  • #9,387
  • Apr 26, 2021 4:14pm Apr 26, 2021 4:14pm
WTI went down 8¢ today with an average ATR that produced 5 winning trades. The last arrow signal will probably produce a continuation short trade at the beginning of the next session.
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  • #9,388
  • Apr 27, 2021 4:21pm Apr 27, 2021 4:21pm
WTI went up $1.06 today with a lower than average ATR that produced only winning trades - 3 lousy ones and 1 decent one (4th arrow).
I was wrong yesterday's last signal did not continue short. Yesterday's trades with WTI losing 8¢ were much better than today's trades.
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  • #9,389
  • Apr 28, 2021 12:43am Apr 28, 2021 12:43am
bounce up from support.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #9,390
  • Apr 28, 2021 9:34am Apr 28, 2021 9:34am
Crude moving higher on that big draw in Distillates. Gas and Crude inventory were almost in line. Not significant deviations.
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Moving above the $64 handle on heavy volume too:
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We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #9,391
  • Apr 28, 2021 4:22pm Apr 28, 2021 4:22pm
WTI went up 64¢ today with an average ATR that produced a break even trade and 3 winning trades.
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  • #9,392
  • Apr 29, 2021 2:23am Apr 29, 2021 2:23am
Quoting Hutch
WTI went up 64¢ today with an average ATR that produced a break even trade and 3 winning trades. {image}
Hi Hutch, Are you trading exactly as you mentioned in the post? or just posting for the learning purpose?
  • #9,393
  • Apr 29, 2021 10:35am Apr 29, 2021 10:35am
Quoting civilpes2001
{quote} Hi Hutch, Are you trading exactly as you mentioned in the post? or just posting for the learning purpose?
I trade this strategy but never before the London open and never 3 hours before the New York close. Before the London open spreads are usually higher and the market moves slower. I never trade 3 hours prior to the New York close because opening trades at that time is more risky since many traders will close their trades during this period and best is to minimize risk. I also never keep trades open overnight.

To better answer your question pictures always show the best entries and exits, but, as you know, this isn't always the case. For example, the third arrow on yesterday's chart indicates a break even trade but only if the trade was opened exactly at the beginning of next brick after the second arrow (down) at $63.000 and closed exactly at the beginning of next brick after the third arrow (up) at $63.000. It's likely that this trade didn't result in breaking even but losing 2-5 pips depending on the entry and exit price. On losing trades expect to lose 10-15 pips. Losing and break even trades are inconsequent because there are a lot more winning trades than losing and break even trades combined and you can expect a lot more pips on these winning trades. Yesterday's third arrow buy signal to the fourth arrow close and sell signal generated 12 bricks or 120 pips. In any case I don't know a better strategy to trade the market on a short-term basis. The only tricky part is to choose the best brick size. I hope this helps.
  • #9,394
  • Apr 29, 2021 4:28pm Apr 29, 2021 4:28pm
WTI went up $1.22 today with a higher than average ATR that produced 2 winning trades not counting the last signal that came quite late in the session. Please note that the best trade would have been the continuation trade from yesterday that would have produced 150 ticks (15 bricks) which is exceptional. It looks like that WTI is on a tear going up $2.92 in the last 3 days.
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  • #9,395
  • Apr 30, 2021 11:31am Apr 30, 2021 11:31am
As long as this occurs at a decent pace we should all make good money.

https://www.rt.com/business/522424-o...goldman-sachs/
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  • #9,396
  • Apr 30, 2021 4:21pm Apr 30, 2021 4:21pm
WTI went down $1.40 today with an average ATR that produced 4 winning trades and 1 break even trade. However, the continuation trade from yesterday's last signal would have produced a nice short trade with a profit of 15 bricks (150 ticks).
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  • #9,397
  • May 3, 2021 3:02am May 3, 2021 3:02am
Hello WTI traders. Can I check with you guys if WTI is a good instrument for day-trading? Thank you.
  • #9,398
  • May 3, 2021 9:54am May 3, 2021 9:54am
Quoting YeGuCheng
Hello WTI traders. Can I check with you guys if WTI is a good instrument for day-trading? Thank you.
In the energy sector it's probably the best. There's a lot of volatility and volume so the simple answer is yes. Along with that volatility comes considerable risk. Good luck!
We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #9,399
  • May 3, 2021 10:16am May 3, 2021 10:16am
Quoting YeGuCheng
Hello WTI traders. Can I check with you guys if WTI is a good instrument for day-trading? Thank you.
There are many traders here that trade WTI because, like me, they think it's a good instrument to trade. I trade short-term but some traders prefer to trade long-term. It's a matter of choice. There are three main advantages of trading WTI:

1. It normally trends better than currency pairs;

2. The daily trading range (ATR) is high (currently 175 pips) compared to the most popular currency pair EURUSD (currently 63 pips) and the higher the ATR the more trade you can squeeze in every day. This also means that you have more chances to recover from a lost trade the same day.

3. The cost of trading WTI is low, at least with my broker. For example the cost of trading, as represented by the margin for 10 lots of WTI (pip value of $1 x 10) is lower than trading 1 lot of EURUSD (pip value of $10 x 1).

This is only my opinion but I hope that other traders will also give their opinion regarding why they like to trade WTI.
  • #9,400
  • May 3, 2021 11:29am May 3, 2021 11:29am
Quoting Hutch
{quote} There are many traders here that trade WTI because, like me, they think it's a good instrument to trade. I trade short-term but some traders prefer to trade long-term. It's a matter of choice. There are three main advantages of trading WTI: 1. It normally trends better than currency pairs; 2. The daily trading range (ATR) is high (currently 175 pips) compared to the most popular currency pair EURUSD (currently 63 pips) and the higher the ATR the more trade you can squeeze in every day. This also means that you have more chances to recover...
I'd probably add that WTI isn't session specific. There's volatility almost 24 hours a day. You might see more volatility in the London/European sessions, and more so the US session. But it's always susceptible to volatility. As a day trader, that's what you want.
We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
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