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WTI Crude Oil Trading

  • #11,221
  • Jan 17, 2024 12:44pm Jan 17, 2024 12:44pm
Quoting Jolita
{quote} Happening for a long time, that was the plan since last year - strengthen dollar to reduce fuel price. Not always worked out due to many incidents, but made economies a float. Dollar has inverse correlation with oil. Crude priced in US dollars Stronger dolllar = lower oil
yes of course, but a stronger dollar means also cable down.
I have them tiled vertically on the screen.
Cable on the left, and oil on the right.
and in last week or so, I noticed they were going opposite. When cable down, oil up. When oil down, cable up.

The first time I noticed I thought it was not that strange.
then again
And again

At a certain point I was feeling like I had a another instrument, say us30 or usd chf.
I forgot to check this today. Will try to remember and do that tomorrow
90% of traders use TA, indicators and prediction
  • #11,222
  • Jan 17, 2024 12:55pm Jan 17, 2024 12:55pm
BBKIng
Some days this can move 700pips for a good reward as well as loss. Don't get to confident or greedy and take profit, grow your account, be careful as your profits can melt in no time. There will be another trade again.

Once I was holding 1000pips in profit, but later trade reversed, I was adjusting my sl, ended up with a loss. So yes, mark your chart, set TP, while in green put SL in positive and move TP up accordingly. Easy to lose, but most important don't give what can be yours Trade safe.
  • #11,223
  • Edited 3:21pm Jan 17, 2024 1:11pm | Edited 3:21pm
Quoting _BBKing_
{quote} yes of course, but a stronger dollar means also cable down. I have them tiled vertically on the screen. Cable on the left, and oil on the right. and in last week or so, I noticed they were going opposite. When cable down, oil up. When oil down, cable up. The first time I noticed I thought it was not that strange. then again And again At a certain point I was feeling like I had a another instrument, say us30 or usd chf. I forgot to check this today. Will try to remember and do that tomorrow
I see what you mean.
Attached File(s)
File Type: pdf chart.pdf   25 KB | 228 downloads
  • #11,224
  • Jan 17, 2024 1:18pm Jan 17, 2024 1:18pm
Inflationary tensions might be causing this.
https://www.investopedia.com/article...orrelation.asp
  • #11,225
  • Jan 17, 2024 1:48pm Jan 17, 2024 1:48pm
add to short 72.85
  • #11,226
  • Jan 17, 2024 2:05pm Jan 17, 2024 2:05pm
reminder...inventories tomorrow
  • #11,227
  • Jan 17, 2024 6:48pm Jan 17, 2024 6:48pm
Quoting Jolita
BBKIng Some days this can move 700pips for a good reward as well as loss. Don't get to confident or greedy and take profit, grow your account, be careful as your profits can melt in no time. There will be another trade again. Once I was holding 1000pips in profit, but later trade reversed, I was adjusting my sl, ended up with a loss. So yes, mark your chart, set TP, while in green put SL in positive and move TP up accordingly. Easy to lose, but most important don't give what can be yours Trade safe.
yes I know
took profits and cashed it whole

i was waiting but finally the move up slowed down so better get out and wait
90% of traders use TA, indicators and prediction
  • #11,228
  • Jan 17, 2024 6:49pm Jan 17, 2024 6:49pm
Quoting FT.Trader
reminder...inventories tomorrow
yep.
hopefully they will give us opportunity to take a good trade on it
sometimes price just becomes crazy.
90% of traders use TA, indicators and prediction
  • #11,229
  • Jan 18, 2024 12:52am Jan 18, 2024 12:52am
add to short 73.08
  • #11,230
  • Jan 18, 2024 12:58am Jan 18, 2024 12:58am
Could have got entry long for a scalp exactly at my exit long to the actual today top.
atm flat, I will wait for data to come out.

looking at gold atm
interesting approach closed to 2000 price.
there could be some nice scalps
90% of traders use TA, indicators and prediction
  • #11,231
  • Jan 18, 2024 4:43am Jan 18, 2024 4:43am
out 72.74 flat g contract
small profit before ny session
moving to h contract now
  • #11,232
  • Jan 18, 2024 4:46am Jan 18, 2024 4:46am
short 72.53 h contract small
  • #11,233
  • Jan 18, 2024 5:21am Jan 18, 2024 5:21am
Quoting FT.Trader
short 72.53 h contract small
cover 72.33
  • #11,234
  • Jan 18, 2024 6:10am Jan 18, 2024 6:10am
long 73.02 h contract
  • #11,235
  • Jan 18, 2024 6:17am Jan 18, 2024 6:17am
will be looking to increase size if goes right
SL @be right now while typing
Attached Image
90% of traders use TA, indicators and prediction
  • #11,236
  • Jan 18, 2024 6:36am Jan 18, 2024 6:36am
Quoting _BBKing_
will be looking to increase size if goes right SL @be right now while typing {image}
are you short?
  • #11,237
  • Jan 18, 2024 6:41am Jan 18, 2024 6:41am
Quoting FT.Trader
{quote} are you short?
nope
long atm
but SL is in positive

small one by the way. it's just a 2$ x cent so i'm fine with it

I wait for data release later, if goes my way I will be looking to add more
90% of traders use TA, indicators and prediction
  • #11,238
  • Jan 18, 2024 7:05am Jan 18, 2024 7:05am
grrrr

I added an entry near 72.50
then closed for 1$ profit

too much closed to my initial entry, was not confident.
and now price up 50cent

90% of traders use TA, indicators and prediction
  • #11,239
  • Jan 18, 2024 7:10am Jan 18, 2024 7:10am
Quoting FT.Trader
long 73.02 h contract
out 73.06
  • #11,240
  • Jan 18, 2024 7:25am Jan 18, 2024 7:25am
Quoting _BBKing_
grrrr I added an entry near 72.50 then closed for 1$ profit too much closed to my initial entry, was not confident. and now price up 50cent
there is alot of price bar overlap at this time
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