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WTI Crude Oil Trading

  • #9,861
  • Sep 23, 2021 8:25am Sep 23, 2021 8:25am
Quoting bhanugopal
{quote} Hello Hutch. I'm trying to follow your system with the rules mentioned. However, I have a doubt regarding your exit. Can you please explain this a bit? Thank you for your system. I hope to be successful with it.
I normally exit using the reverse trade button of the Chart Trader EA when the next brick following the brick with the arrow is to same color and the FxBay MACD agrees by having crossed the zero line in the same direction. That way I enter into the next trade at the same time. If the FxBay MACD doesn't totally agree but is near to the zero line I close the trade using the close trade button of the EA and with before opening a new trade. Sometimes this is good and sometimes I miss many pips but nothing is perfect! The hardest part is trading low ATR currency pairs such as EURUSD or USDCAD with small size bricks (3 to 5 pips) because the data feed speed is too fast to get the best entry and exit. I hope this helps.
  • #9,862
  • Sep 23, 2021 8:28am Sep 23, 2021 8:28am
Quoting Hutch
{quote} I normally exit using the reverse trade button of the Chart Trader EA when the next brick following the brick with the arrow is to same color and the FxBay MACD agrees by having crossed the zero line in the same direction. That way I enter into the next trade at the same time. If the FxBay MACD doesn't totally agree but is near to the zero line I close the trade using the close trade button of the EA and with before opening a new trade. Sometimes this is good and sometimes I miss many pips but nothing is perfect! The hardest part is trading...
Yes. Thanks very much.
  • #9,863
  • Sep 23, 2021 4:39pm Sep 23, 2021 4:39pm
WTI went up $1.23 today with an average ATR that produced 2 winning trades, one on a false signal, and a break even trade. Well, the false signal (first arrow) wasn't really false since the color of the brick reversed on the next brick but the FxBay MACD of that brick remained negative. Me bad even after trading for over 15 years I'm still learning
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  • #9,864
  • Sep 24, 2021 4:17pm Sep 24, 2021 4:17pm
WTI went up 75¢ today with a low ATR that produced 4 winning trades excluding the last signal.
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  • #9,865
  • Sep 26, 2021 1:01am Sep 26, 2021 1:01am
Quoting yani38
{quote} {quote} {quote} WTI remains strong, amidst 'The Bears are in control' 2 days ago. I wouldn't run from it, let alone short it. Holding up pretty well. : ) 71.64 as I type. EDIT Always a bit late, by a few mins, but has cracked 71.67 on the upside, could revisit who knows? Looks a + for me. 71.82 atm MID.
Quoting Hutch
WTI went up 75¢ today with a low ATR that produced 4 winning trades excluding the last signal. {image}
Yup been an interesting ride, closed 74.18 MID, on Fri, after attempting a breach of 74.50.

EDIT: Keep a watch on the AUD, looks ok upside.
"Don't Shoot Me I'm Only the Piano Player"
  • #9,866
  • Sep 27, 2021 9:38am Sep 27, 2021 9:38am
WTI rallying from last week started this week with a surge currently struggling to get higher as we have reached an area that it hasn't been higher than since 2014 (daily chart would suggest caution). can't figure out if the rally is running out of steam but i'm out of my long , will wait for a pullback or miss this move if it continues up
  • #9,867
  • Sep 27, 2021 9:56pm Sep 27, 2021 9:56pm
WTI Cash breaks 76.00, good. Crude hasn't been there since late 2014 on NYME, not so good for low interest rates, surely inflation will raise its ugly head again soon.
"Don't Shoot Me I'm Only the Piano Player"
  • #9,868
  • Sep 28, 2021 2:32am Sep 28, 2021 2:32am
Quoting yani38
WTI Cash breaks 76.00, good. Crude hasn't been there since late 2014 on NYME, not so good for low interest rates, surely inflation will raise its ugly head again soon.
It's been above 76 in July and in 2018?
  • #9,869
  • Sep 28, 2021 10:00am Sep 28, 2021 10:00am
looks like we r getting that pullback. wonder how deep it will go
  • #9,870
  • Sep 28, 2021 7:35pm Sep 28, 2021 7:35pm
Selling oil
Master your mind. Master Trading.
  • #9,871
  • Sep 29, 2021 1:13am Sep 29, 2021 1:13am
Quoting shnackattack
{quote} It's been above 76 in July and in 2018?
A close call.

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"Don't Shoot Me I'm Only the Piano Player"
  • #9,872
  • Sep 29, 2021 1:36am Sep 29, 2021 1:36am
Quoting shnackattack
{quote} It's been above 76 in July and in 2018?
Well spotted. : )

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"Don't Shoot Me I'm Only the Piano Player"
  • #9,873
  • Sep 30, 2021 9:52am Sep 30, 2021 9:52am
even with WTI struggling to get lower i'm anticipating a significant drop from this high. perhaps not this week
  • #9,874
  • Sep 30, 2021 9:10pm Sep 30, 2021 9:10pm
Quoting Kwame Freder
even with WTI struggling to get lower i'm anticipating a significant drop from this high. perhaps not this week
Gut feeling? They often work. Turbulent waters atm, that's where the $ are.
"Don't Shoot Me I'm Only the Piano Player"
  • #9,875
  • Edited 9:34pm Sep 30, 2021 9:22pm | Edited 9:34pm
Stock Indices diving, heard one 'analyst' sprouting a cpl of hours ago, "this is the big correction we've anticipated". (Hope she made something out of it). Anyway, Crude holding up really well, new highs, in fact. Gold (the Precious one), bah. Markets in the doldrums as I post, WTI Cash holding its own, 75.05.

EDIT: By the way, if you're in Australia, or interested in it, NSW Premier Gladys Berejiklian making a snap announcement @ 1PM Local, we wait, but not a good sign.
"Don't Shoot Me I'm Only the Piano Player"
  • #9,876
  • Oct 1, 2021 8:47am Oct 1, 2021 8:47am
Quoting yani38
{quote} Gut feeling? They often work. Turbulent waters atm, that's where the $ are.
looking at daily charts and even a glance at monthly we are currently in an area with big resistance. the last two times we were here we got a significant sell off. may take some time to occur maybe even weeks. just going with the probability of it occurring again vs it breaking through and heading to $80
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  • #9,877
  • Oct 1, 2021 9:39pm Oct 1, 2021 9:39pm
Quoting Kwame Freder
{quote} looking at daily charts and even a glance at monthly we are currently in an area with big resistance. the last two times we were here we got a significant sell off. may take some time to occur maybe even weeks. just going with the probability of it occurring again vs it breaking through and heading to $80 {image} {image}
I couldn't agree more re top heavy resistance, WTI up against it atm on the chart. Maybe too obvious, who knows? WTI has had an incredible, sustained bullish run for months now, has been a nice ride for those who got in. Anyway, as I posted few days ago, it's holding its own for now. I wont short it, haven't as yet as I said some time prior, but yeah, you make a valid point re the resis. $75.92 MID as of close Friday.
"Don't Shoot Me I'm Only the Piano Player"
  • #9,878
  • Oct 2, 2021 9:51am Oct 2, 2021 9:51am
I have shorts loaded around this area, I expect OPEC to make an announcement about releasing more oil on Monday. United States, Europe, China and India have all complained about the current oil price and I highly doubt they will accept $80+ oil price!
Master your mind. Master Trading.
  • #9,879
  • Oct 3, 2021 6:55am Oct 3, 2021 6:55am
Hello.
3 bullish candles, x2.8 Volume relative to Sep 28th , negative Delta, no higher high.
Would like to see Daily close below ~74.24.
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Air force
  • #9,880
  • Oct 4, 2021 9:05am Oct 4, 2021 9:05am
wow it smashed through. i'm now looking to short it.
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