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WTI Crude Oil Trading

  • #11,241
  • Jan 18, 2024 9:28am Jan 18, 2024 9:28am
i thought that the market was going to retrace back to yesterday's London Close
we missed it by .07 cents today
  • #11,242
  • Jan 18, 2024 9:36am Jan 18, 2024 9:36am
Quoting FT.Trader
{quote} there is alot of price bar overlap at this time
yes I see
not simple

better wait.

I was about to close my long in last 30minutes
doesn't look very good setup atm.

I hold it in the hope for a clean bullish move up after data in few minutes.
90% of traders use TA, indicators and prediction
  • #11,243
  • Jan 18, 2024 9:38am Jan 18, 2024 9:38am
Quoting FT.Trader
i thought that the market was going to retrace back to yesterday's London Close we missed it by .07 cents today
forgot about the london close.
thanks to remind me.
will draw it a line on chart from now on
90% of traders use TA, indicators and prediction
  • #11,244
  • Jan 18, 2024 9:51am Jan 18, 2024 9:51am
the inventories data has made wti price move in the opposite direction as most would think

an inventory drawdown is perceived as bullish for wti price
price usually falls if there is an iventory drawdown

and vica versa for a surplus

i think that oil producers are experts in capacity
they stock up when demand is up and reduce supply when demand is down

just my thoughts
  • #11,245
  • Jan 18, 2024 10:02am Jan 18, 2024 10:02am
Quoting FT.Trader
the inventories data has made wti price move in the opposite direction as most would think an inventory drawdown is perceived as bullish for wti price price usually falls if there is an iventory drawdown and vica versa for a surplus i think that oil producers are experts in capacity they stock up when demand is up and reduce supply when demand is down just my thoughts
the light at FF for inventories is green

according to my post

price should go down

watching
  • #11,246
  • Jan 18, 2024 10:12am Jan 18, 2024 10:12am
Quoting FT.Trader
{quote} the light at FF for inventories is green according to my post price should go down watching
yes indeed many times price goes opposite than the color of inventories release.
atm, almost no reaction at all

not really a good bulish setup as per my view.
but still looks more likely going higher than lower
probably a move to 74 will resume more buy strength and this actual price near 73 will be the support to watch

so I hold the long, but only because stop loss is positive.
not willing to load more atm.

leaving desk, tired of this PA today
90% of traders use TA, indicators and prediction
  • #11,247
  • Jan 18, 2024 10:13am Jan 18, 2024 10:13am
Quoting FT.Trader
{quote} the light at FF for inventories is green according to my post price should go down watching
looks positive
distalate and gasoline lights red
looks like a mixed picture
  • #11,248
  • Jan 18, 2024 10:14am Jan 18, 2024 10:14am
chart
the area I mean to see broken and acting as support for more up later

Attached Image (click to enlarge)
Click to Enlarge Name: oil1.png Size: 17 KB
90% of traders use TA, indicators and prediction
  • #11,249
  • Jan 18, 2024 10:21am Jan 18, 2024 10:21am
Quoting _BBKing_
chart the area I mean to see broken and acting as support for more up later {image}
the london close on the inventories day can act as a pivot

last week the london close the same as for last year
  • #11,250
  • Jan 18, 2024 10:30am Jan 18, 2024 10:30am
short 73.46
march h
  • #11,251
  • Jan 18, 2024 12:36pm Jan 18, 2024 12:36pm
forgot to mention....

this week is stock expiration week
  • #11,252
  • Jan 18, 2024 1:21pm Jan 18, 2024 1:21pm
Took out the long.
could have got some more of it, today I’m not really doing things as I wish but shits happen
anyway got a nice run
90% of traders use TA, indicators and prediction
  • #11,253
  • Jan 19, 2024 12:04am Jan 19, 2024 12:04am
add to short 73.95 h march
  • #11,254
  • Edited 11:33am Jan 19, 2024 11:11am | Edited 11:33am
Quoting FT.Trader
add to short 73.95 h march
cover 73.00 flat
day low was 72.99 wow
so far
  • #11,255
  • Jan 19, 2024 11:32am Jan 19, 2024 11:32am
long 73.48
h contract
  • #11,256
  • Jan 19, 2024 12:47pm Jan 19, 2024 12:47pm
I was busy out
took long via phone near yesterday’s London close
Got partial profits then out @be
90% of traders use TA, indicators and prediction
  • #11,257
  • Jan 19, 2024 2:21pm Jan 19, 2024 2:21pm
Quoting FT.Trader
long 73.48 h contract
out 73.60
  • #11,258
  • Jan 20, 2024 1:59am Jan 20, 2024 1:59am
missed both touch on lower and upper TL
that’s why I don’t like diagonals
Attached Image (click to enlarge)
Click to Enlarge Name: Oil.png Size: 36 KB
90% of traders use TA, indicators and prediction
  • #11,259
  • Jan 20, 2024 2:06am Jan 20, 2024 2:06am
Looking at trading statistics, I ended last 2 weeks more profitable in oil
means my trading strategy works better on larger moves
cable last 2 weeks is simply stuck on a 150p range.

will probably check other movers. Us30, gold, etc
90% of traders use TA, indicators and prediction
  • #11,260
  • Jan 22, 2024 4:40am Jan 22, 2024 4:40am
long 73.29 march
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