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WTI Crude Oil Trading

  • #9,401
  • May 3, 2021 4:19pm May 3, 2021 4:19pm
WTI went up $1.03 today with an average ATR that produced 6 consecutive winning trades then 1 breaking trade to finish the day.
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  • #9,402
  • May 4, 2021 4:14pm May 4, 2021 4:14pm
WTI went up $1.62 today with an average ATR that produced 6 lousy winning trades except the last one that was decent. The best trade would have been the continuation trade from yesterday but, unfortunately, I close all my trades by the end of the day.
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  • #9,403
  • May 5, 2021 9:07am May 5, 2021 9:07am
hard to believe it will punch through $67 without some pullback first. wary of inventory numbers coming out shortly.
  • #9,404
  • May 5, 2021 9:57am May 5, 2021 9:57am
Quoting Kwame Freder
hard to believe it will punch through $67 without some pullback first. wary of inventory numbers coming out shortly.
I'm not sure why crude dropped so sharply when a much larger than expected draw. Even distillates showed a draw. Gasoline was the outlier but the deviation from forecasts isn't that significant. Are the markets really putting that much emphasis on gasoline inventories? Can't be. Maybe we're seeing a top here.
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Here's crude (CME CL) on a 5M.
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We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #9,405
  • May 5, 2021 4:18pm May 5, 2021 4:18pm
WTI went down 81¢ today with an average ATR that produced 5 winning trades but the third one was best producing 12 bricks (120 ticks).
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  • #9,406
  • May 6, 2021 8:51am May 6, 2021 8:51am
Heavy volume on crude selling the past two days (CME CL). It looks like we could be seeing it come off a test of recent highs. I'd keep my eye on next week's OPEC's Monthly Report as we might see some world demand adjustments in light of India's recent lockdown. Perhaps that's what traders have been pricing in?
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We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #9,407
  • May 6, 2021 12:01pm May 6, 2021 12:01pm
Quoting Kwame Freder
hard to believe it will punch through $67 without some pullback first. wary of inventory numbers coming out shortly.
ok so we got a pullback sub $65, seems to be some support in this region, with the markets being bullish in general i will no longer be shorting this and looking for another surge up. tomorrow being friday we may not get much more movement this week. i hated last friday's choppiness
  • #9,408
  • May 6, 2021 12:05pm May 6, 2021 12:05pm
Two months topping, so long time...
Yesterday Dark Cloud Cover on the Daily confirmed today, so it's finally time to go down

First target around 53, second under 49
In case of extreme move we may go under 45

I think US inflation and FED reaction will give a better view step by step

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  • #9,409
  • May 6, 2021 4:27pm May 6, 2021 4:27pm
WTI went down 45¢ or today with an average ATR that produced 7 winning trades without counting the last signal and 3 break even trades.
Not the best day but every time a move of only 45 ticks produces a potential profit of over 200 ticks is quite good although nobody trades during the full session.
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  • #9,410
  • May 7, 2021 4:19pm May 7, 2021 4:19pm
WTI went down 1¢ today with a lower than average ATR that produced 8 winning trades and 1 break even trades.
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  • #9,411
  • May 9, 2021 1:48am May 9, 2021 1:48am
Quoting Kwame Freder
hard to believe it will punch through $67 without some pullback first. wary of inventory numbers coming out shortly.
I am looking to buy OIL at 62.5 next week.
I'm The Real Deal Quant-XR ,The Financial Hacker
  • #9,412
  • May 9, 2021 5:20am May 9, 2021 5:20am
Quoting Pipa1
{quote} I am looking to buy OIL at 62.5 next week.
Prof Pipa1, good day! Please what do you think concerning gold?
Will the uptrend continue or do you envisage a downtrend?
  • #9,413
  • May 9, 2021 8:07am May 9, 2021 8:07am
Quoting Glorybound
{quote} Prof Pipa1, good day! Please what do you think concerning gold? Will the uptrend continue or do you envisage a downtrend?
I salute you Glorybound.Good day to you.
GOLD is going to stay in range.I would consider only selling above 1839 and buying bellow 1806. Buying /selling GOLD in the middle of the 1802 - 1840 range it's a risky trade now because controlled by the market makers algorithms.This will allow USD to be more solid. I bet on USD strength next week and went long USDJPY friday at 108.500...anyway i am on this chat because OIL is my next entry after exiting UJ.I ride em all,any market offer free risk entries with small SL if you time them properly.
I take the best odds only.
I'm The Real Deal Quant-XR ,The Financial Hacker
  • #9,414
  • May 9, 2021 9:10am May 9, 2021 9:10am
Quoting Pipa1
{quote} I salute you Glorybound.Good day to you. GOLD is going to stay in range.I would consider only selling above 1839 and buying bellow 1806. Buying /selling GOLD in the middle of the 1802 - 1840 range it's a risky trade now because controlled by the market makers algorithms.This will allow USD to be more solid. I bet on USD strength next week and went long USDJPY friday at 108.500...anyway i am on this chat because OIL is my next entry after exiting UJ.I ride em all,any market offer free risk entries with small SL if you time them properly....
Your ideas are very helpful. Thanks a million! I have open sell orders - 1782.64 and 1784.02.
From your submission, all things being equal, we will be expecting bearish movements in EUR/USD and CABLE, if dollar
is strengthened!
  • #9,415
  • May 10, 2021 12:07pm May 10, 2021 12:07pm
Lucky this didn't affect the price of WTI ... at least so far.

https://edition.cnn.com/2021/05/08/p...ack/index.html
  • #9,416
  • May 10, 2021 4:36pm May 10, 2021 4:36pm
WTI went up 3¢ today with an average ATR that produced 5 winning trades and 1 break even or losing trade (third arrow) depending on how a trader handles this type of false signal since the brick following the arrow signal was not down but up. Because of a gap of 42¢ at the beginning of the session the first 5 bricks were empty (each with volume of 0). If a trader had used a half trend factor of 1 instead of the factor of 2 that I used there would have been 6 winning trades (second chart).
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  • #9,417
  • May 11, 2021 3:06am May 11, 2021 3:06am
OIL keep depreciating till tomorow .
I'm The Real Deal Quant-XR ,The Financial Hacker
  • #9,418
  • May 11, 2021 8:46am May 11, 2021 8:46am
Quoting Hutch
WTI went up 3¢ today with an average ATR that produced 5 winning trades and 1 break even or losing trade (third arrow) depending on how a trader handles this type of false signal since the brick following the arrow signal was not down but up. Because of a gap of 42¢ at the beginning of the session the first 5 bricks were empty (each with volume of 0). If a trader had used a half trend factor of 1 instead of the factor of 2 that I used there would have been 6 winning trades (second chart). {image} {image}
Nice! Prices sliding with equities today, recovering from $64. Will see what the inventories are tomorrow.
Be humble or be humbled.
  • #9,419
  • May 11, 2021 4:18pm May 11, 2021 4:18pm
WTI went up 57¢ today with an average ATR that produced 1 break even trade and 8 winning trades.
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  • #9,420
  • May 12, 2021 10:09am May 12, 2021 10:09am
currently at the top of the range with resistance holding. if it holds i expect a sell off
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