Trading Crude Oil with price action + indicator

IMO = "in my opinion"

Try Range Chart with 12 settings and see if it helps. You can see a good swing using Range charts with 12 settings. May be I will post some charts later.

You bet

Ok, I've just started to get familiar with commodities trading in general and crude oil in particular. I have a couple of ideas to be confirmed, if it is possible. First of all, on my observation the crude oil market is highly depends on fundamentals. Like war in Syria is to make the prices rise. Technical analysis is less important than in the currency trading. However, it should be backwards, since the demand for the currency is not something that exists in separately, it is highly connected to the economical situation in the country. And the demand for commodities is what created by natural reasons.

Another question comes from the first one. Is there any news releases that impact the market of crude oil considerably, like NFP or GDP in forex.

It was writen in the sky that at least it would bounce at level. Will see today what can do fundies. Already took out some profits.

WTI Crude Oil has extended its sell-off to weigh on key support at 102.22/07 – a cluster of retracements and the early August low. We would Trading Look for an initial bounce here, but downside risks remain and if removed would set a top for 99.59. Below here finds better support at 98.93/24 – the 50% retracement of the April/August rally and chart support. With the 200-day average just below at 97.57 we would expect an effort to bounce from here. Resistance shows first at 109.377/96, but through 105.12
needed for a base.

Strategy: Flat, buy at 102.45, stop/reverse below 102.02 for 103.50.

When will nymex crude start rising ?

Opinions and reasons for them appreciated

I guess you guys trade intra day, anyone trading oil long term? What would be the best (easiest & cheapest) way to trade the peak oil idea? I'd love to have part of my portfolio be a hedge against that event happening... ideas?

I missed yesterdays rise of approximately 250 pips after a pullback at 1-2 pm.

I think we are about ready to drop any time now for 100-200 pips.

I will settle for 100+ pips my crystal ball is turning out to be very accurate.

i trade oil if oil price above $100 (WTI) and under $80, so far so good.. but sometimes i feel i lost many opportunity..

Hello fellow trade junkies,

WTI

First post so go easy.

My long term sentiment, from a technical point of view, was that within late October or early November it could hit the 24/06 low of 92ish after the affects of Egypt and Syria wear off. This was based on if no major fundamentals happen in-between.

That got shot to s**t with the US Govt partial shutdown happened. My question for people is what likely affect will the shutdown have as Oct 17 looms and more importantly why. I really cannot see ANY logic and interested in peoples thoughts.

Cheers

Hi guys, pretty much a newbie at trading here. Can anyone of you plz tell me where i can get updates as they happen about crude oil stocks at Cushing Oklahoma? thnx and happy trading.

I have been trading oil on and off for about 7 years. My very first trade of any kind was a crude long seconds before Nigerian rebels attacked Shell's pipelines. Pure luck - but it got me hooked. Now keep in mind that I am the kind of trader that struggles when prices chops in a short range - I need and thrive off of volatility and oil provides it more consistently than any other medium.

If you are looking to form a oil trading strategy, may I suggest you start with a 15 minute chart with nothing but S&R levels that you eyeball and draw. Then add volume and watch how volume behaves when price reaches your levels. Say price has been falling all day and you have a support line at 100.15 - if volume is DECREASING as price hits that level then a safe assumption would be that the bears are losing their resolve and it may be time to look for long entries. How you decide to enter is a completely different ballgame because oil will not precisely honor any level - you have to have the flexibility and the account size to handle the fake-outs that occur all day.

But for now just watch and observe. I am sure you will be intrigued by what you see.

Get ready if this bounces of 97.14 it will continue on its way down.

I should have added watch it on a 15minute chart.

Cancel last instruction which was given at 12.20

I think that we have turned for an uptrend anyone in agreement ?

I will be back at 7am for an update watch the 15min chart with no indicators just a bare chart is the way forward

Come on down I am waiting to take your money baby!!! Love it!!!!

Looks like it has already started.