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WTI Crude Oil Trading

  • #10,941
  • Jul 13, 2023 5:31pm Jul 13, 2023 5:31pm
Quoting petvaibogdan
I want to se the retest it in the area of 74.0 - 73.0 and touch the 8EMA Daily , then look for a HH and a HL in 1h where I put a fibb, with a final TP in the area of 82.5 - 83.0!! Entry 1 : Fib 60 , SL below 78.6 [ Entry 74.030 - SL 73.300 - TP Final 82.600 ( RR 1/11.74 )]. Entry 2 : Fib 78.6 , SL below 88.6 [ Entry 73.400 - SL 72.980 - TP Final 82.600 ( RR 1/21.9 )]. Entry 3 : Fib 88.6 , SL Below Low [ Entry 73.050 - SL 72.550 - TP Final 82.600 ( RR 1/19.2 )]. TP1 last High, TP2 78.0, TP3 82.5 - 83.5! After each TP, SL will move to BE. The worst...
Going the opposite way of inventory fundamentals and IEA forecasts. I think it is about to turn down now.
Be humble or be humbled.
  • #10,942
  • Jul 14, 2023 3:44am Jul 14, 2023 3:44am
The dollar index got slammed to 99.75 just as WTI hit $77. They will start switching places now. USD will climb from the lows and oil will fall from the highs.
Be humble or be humbled.
  • #10,943
  • Jul 14, 2023 1:41pm Jul 14, 2023 1:41pm
I sold at $77. My price target is the bundle of support ar $74.
Be humble or be humbled.
  • #10,944
  • Jul 14, 2023 2:51pm Jul 14, 2023 2:51pm
Quoting Temujin
{quote} Going the opposite way of inventory fundamentals and IEA forecasts. I think it is about to turn down now.
i doubt!
  • #10,945
  • Jul 14, 2023 4:52pm Jul 14, 2023 4:52pm
Quoting petvaibogdan
{quote} i doubt!
Almost a 6 million barrel surplus reported Wednesday. The traders will not keep buying week after week with inventory builds like that and another rate hike just 2 weeks away. Support on the daily chart does not appear until $73.50, the 200 and 100 day moving averages converged. Next is $72.50 at the 50 day average.
Be humble or be humbled.
  • #10,946
  • Jul 17, 2023 8:45am Jul 17, 2023 8:45am
Quoting petvaibogdan
{quote} i doubt!
Looking weak as the dollar is rising in anticipation of the next rate hike.
Be humble or be humbled.
  • #10,947
  • Jul 18, 2023 1:11pm Jul 18, 2023 1:11pm
Here comes the API inventory build again, short it.
Be humble or be humbled.
  • #10,948
  • Jul 18, 2023 3:59pm Jul 18, 2023 3:59pm
l see a very bullish move on WTI.
  • #10,949
  • Jul 19, 2023 2:42am Jul 19, 2023 2:42am
Quoting Ch23
l see a very bullish move on WTI.
I see a buy at $72.
Be humble or be humbled.
  • #10,950
  • Jul 19, 2023 4:15am Jul 19, 2023 4:15am
Here we go bra, I think you understand what is on the graph, now compare with mi prev post.
When the Price hit 8EMA daily in my zone ( 60%- 78.8% Fibb), I saw an instant rejection, then i just waited to see one HH in 1h TF, and my entry was in 78.8 Fib.
1/87.85 RR till TP3 at 82.6...1/33.14 RR till TP2 at prev High...once it hit my TP1 my SL is on BE...so i already have 6.66R with 0 risk right now.
Attached Image (click to enlarge)
Click to Enlarge Name: WTICOUSD_2023-07-19_12-06-18_0ea1d.png Size: 26 KB
  • #10,951
  • Jul 19, 2023 9:57am Jul 19, 2023 9:57am
EIA Still cutting supplys.
  • #10,952
  • Edited 10:30am Jul 19, 2023 10:20am | Edited 10:30am
WTI is going to touch $80.20 ,, this time around.
  • #10,953
  • Jul 19, 2023 10:30pm Jul 19, 2023 10:30pm
Quoting Ch23
WTI is going to touch $80.20 ,, this time around.
I'll buy at $72 when the Fed slams stocks down on the 27th and oil goes with it.
Be humble or be humbled.
  • #10,954
  • Jul 20, 2023 1:56am Jul 20, 2023 1:56am
Still short from $76.85 via put on UCO.
Be humble or be humbled.
  • #10,955
  • Jul 20, 2023 2:17am Jul 20, 2023 2:17am
Quoting Temujin
Still short from $76.85 via put on UCO.
Today's Data might push oil prices back above yesterday's highs .
  • #10,956
  • Jul 20, 2023 3:58pm Jul 20, 2023 3:58pm
The fight is immense between the Bulls and the Bears in Oil Market Lol
  • #10,957
  • Jul 24, 2023 9:16am Jul 24, 2023 9:16am
I think we WTI cracked it, next point of interest $83.21?
Attached Image (click to enlarge)
Click to Enlarge Name: Oil - US Crude_20230724_15.12.png Size: 90 KB
  • #10,958
  • Jul 26, 2023 3:45am Jul 26, 2023 3:45am
I escaped my 2nd short position at break even. Oil rising is bad for companies and consumers again. Shorted the DOW Jones.
Be humble or be humbled.
  • #10,959
  • Jul 26, 2023 4:59am Jul 26, 2023 4:59am
In a small short tp just under $78
  • #10,960
  • Jul 26, 2023 8:11am Jul 26, 2023 8:11am
Quoting powermatrix
Guys, Will Fibonacci Retracements work on WTI Crude Oil ?? What are the factors to be seen before entering and existing a trade ??? and what data affect WTI Crude oil price ??
The decisions of OPEC and producers like Russia, America, Saudi Arabia and big consumers like China affect it, supply and demand. But in general, its trading like other commodities and metals.
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