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WTI Crude Oil Trading

  • #9,581
  • Jun 16, 2021 9:43am Jun 16, 2021 9:43am
Quoting EventsTrader
I don't expect the volatility to be muted ahead of FOMC but it's possible.
I'd say this reaction to such big deviations from forecasts is muted. Crude CME futures above $72.50 and likely isn't done. But if we break $73 today it's probably going to be on FOMC. If the oil market likes what Powell brings.
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We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #9,582
  • Jun 16, 2021 10:23am Jun 16, 2021 10:23am
Welp! It looks like crude isn't waiting for FOMC. It's heading towards $73.
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There's some heavy volume accompanying this rally.
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We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #9,583
  • Jun 16, 2021 10:38am Jun 16, 2021 10:38am
Here we go. CME crude futures (CL) hit 72.99 and came down. I expect some resistance here. But if it breaks through we could get some momentum.
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We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #9,584
  • Jun 16, 2021 11:35am Jun 16, 2021 11:35am
Quoting EventsTrader
Here we go. CME crude futures (CL) hit 72.99 and came down. I expect some resistance here. But if it breaks through we could get some momentum. {image}
Crude CME futures came down hard after touching $72.99. $73 looks like it's going to be some strong resistance. But with FOMC on deck none of that could matter.
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We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #9,585
  • Jun 16, 2021 4:33pm Jun 16, 2021 4:33pm
WTI went down 82¢ today with an average ATR that produced 5 winning and 2 break even trades.
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  • #9,586
  • Jun 16, 2021 10:02pm Jun 16, 2021 10:02pm
Quoting Hutch
WTI went down 82¢ today with an average ATR that produced 5 winning and 2 break even trades. {image}

Well done, certainly an interesting night, and indeed day, live local AEST. The Interest Rate thing out of the blue, but not unexpected = sudden reality check across the board. Ah dear.

A few each way bets placed in previous posts above, about 5 I think, but thanks to that poster for the info.
"Don't Shoot Me I'm Only the Piano Player"
  • #9,587
  • Jun 17, 2021 11:33am Jun 17, 2021 11:33am
WTI is diving. I'm hearing flight to safety. Bond yields headed lower, USD is higher, but gold and precious metals are melting down. Not sure what to make of this yet.

CME CL futures contract trading below $70.
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We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #9,588
  • Jun 17, 2021 4:29pm Jun 17, 2021 4:29pm
WTI went down 59¢ today with a very high ATR that produced 1 losing trade, 1 break even trade and 4 winning trades. Please note that there was 1 false signal (third arrow that was also responsible for the losing trade) and probably the last arrow is also a false signal.
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  • #9,589
  • Jun 18, 2021 9:02am Jun 18, 2021 9:02am
No news out there as to why WTI is rallying?
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We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #9,590
  • Jun 18, 2021 9:04am Jun 18, 2021 9:04am
Quoting EventsTrader
No news out there as to why WTI is rallying? {image}
Apparently, US supply increase is smaller than expected. https://www.energyexch.com/news/1088...week-us-supply
We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #9,591
  • Jun 18, 2021 9:33am Jun 18, 2021 9:33am
wti recovered all of yesterdays losses. the bulls are not playing, they continue to shake off any negative news. is $80 possible for summer??
  • #9,592
  • Jun 18, 2021 11:58am Jun 18, 2021 11:58am
Quoting Kwame Freder
wti recovered all of yesterdays losses. the bulls are not playing, they continue to shake off any negative news. is $80 possible for summer??
Possibly. A lot will depend on Saudi Arabia and how aggressively they're going to scale down their own production cuts.
We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #9,593
  • Jun 18, 2021 4:21pm Jun 18, 2021 4:21pm
WTI went up 37¢ today with a very high ATR that produced a losing trade due to a false signal and 2 winning trades.
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  • #9,594
  • Jun 19, 2021 3:39pm Jun 19, 2021 3:39pm
This is always worth 10 minutes of my weekends:

Inserted Video
  • #9,595
  • Jun 21, 2021 5:04am Jun 21, 2021 5:04am
Quoting EventsTrader
No news out there as to why WTI is rallying? {image}
It's a market, find out later. : ). You're an interesting poster.
"Don't Shoot Me I'm Only the Piano Player"
  • #9,596
  • Jun 21, 2021 9:19am Jun 21, 2021 9:19am
there she goes. wonder if $73 will hold
  • #9,597
  • Jun 21, 2021 4:26pm Jun 21, 2021 4:26pm
WTI went up $1.98 today with a very high ATR that produced 5 winning, 1 break even and 1 losing trade. The false signal at the second arrow could have produced another break even or a losing trade depending on how a trader acted upon this signal. I normally close my trade upon a false signal but never open a new trade instead I wait for the next valid signal.
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  • #9,598
  • Jun 21, 2021 9:32pm Jun 21, 2021 9:32pm
Quoting auricforecas
{quote} The thing about trading is that it doesn't revolve around the reality but perception of reality. Meaning that a trader does not trade by trouth but by perception, if you ask me... Assumming it is real or not, I think, it is irrelevant, at least for short(er) term, the important thing that is important to "guess" is how markets will perceive it aka react to it.. Some clips bellow that I find "relevant" or at least entertaining This is my "lego" with which I try to present my ideas even at the costs of less seriousness but I do not...
And, we appreciate it. : )
"Don't Shoot Me I'm Only the Piano Player"
  • #9,599
  • Jun 21, 2021 10:39pm Jun 21, 2021 10:39pm
V-shaped reversal. Volatility at the top end of an incredible bull run, re the US30, flows across the board. Uncertainty Index ≥ 85%. AUD/USD sustained weakness, currently @ 0.7515. WTI powers on, currently @ 73.60. : )
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"Don't Shoot Me I'm Only the Piano Player"
  • #9,600
  • Jun 22, 2021 12:44pm Jun 22, 2021 12:44pm
If inventory numbers don't punch through this resistance i'm anticipating a pull back. H4 chart also signaling this
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