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Trading Crude Oil with price action + indicator

  • #941
  • Oct 13, 2016 3:07am Oct 13, 2016 3:07am
Quoting don555
anyone trade crude on a daily basis ?
I look at the lower time frames..

IMHO i think oil is relatively unaffected by news releases...except crude oil inventories of course.
  • #942
  • Oct 13, 2016 4:47am Oct 13, 2016 4:47am
Quoting limzy
{quote} I look at the lower time frames.. IMHO i think oil is relatively unaffected by news releases...except crude oil inventories of course.


What timeframes and what are you looking for
  • #943
  • Oct 13, 2016 5:14am Oct 13, 2016 5:14am
Quoting don555
{quote} What timeframes and what are you looking for
Trend following on 1H/4H charts.

Aiming for a reward risk ratio of greater than 1.
  • #944
  • Oct 13, 2016 6:36am Oct 13, 2016 6:36am
where are we going today ?
  • #945
  • Oct 13, 2016 7:50am Oct 13, 2016 7:50am
it should drop from here
  • #946
  • Oct 13, 2016 11:13am Oct 13, 2016 11:13am
Quoting don555
it should drop from here
it has to be confirmed if breaks key prices
  • #947
  • Oct 13, 2016 8:25pm Oct 13, 2016 8:25pm
seems bullish now.

Price did not go down despite the oversupply.
  • #948
  • Oct 14, 2016 5:42am Oct 14, 2016 5:42am
Oil does look quite bullish now. Perhaps $50 may be a new base for support forming or another new top at just over $51
  • #949
  • Oct 14, 2016 2:34pm Oct 14, 2016 2:34pm
Quoting ItsAtrap
Hello, quick update on my long Crude trade from a few days ago. Only updates are that I added some longs as last week closed (when in an uptrend, I like adding to longs at the close of scary bearish daily bars like last Friday's), and I moved stops so that I am overall with decent profit locked in. Nothing else to do than just sit and wait for hopefully continuation of the move up. {image}
Hello oil traders!

Not much to update: I am still long, stops still in the same level as before, with most profits locked, yada yada..
Attached Image (click to enlarge)
Click to Enlarge Name: Crude long 14Oct16.jpg Size: 184 KB
  • #950
  • Oct 16, 2016 4:43am Oct 16, 2016 4:43am
Quoting limzy
seems bullish now. Price did not go down despite the oversupply.
Bro, not sure where you get the indication of price going down due to oversupply, anyway hope the below helps.

https://www.iea.org/oilmarketreport/omrpublic/
http://www.bloomberg.com/news/articl...in-eight-years

Anyway good luck.
The only winner is the one who survive the longest...
  • #951
  • Oct 16, 2016 10:05am Oct 16, 2016 10:05am
Just my three pennies worth, but I was earwigging on a radio broadcast from a prominent, & well-respected market watcher in NY a few days ago. And his opinion is that by 2020 crude could be down to $12.

Now that is scary....!
  • #952
  • Oct 16, 2016 8:39pm Oct 16, 2016 8:39pm
Quoting kinspk
{quote} Bro, not sure where you get the indication of price going down due to oversupply, anyway hope the below helps. https://www.iea.org/oilmarketreport/omrpublic/ http://www.bloomberg.com/news/articl...in-eight-years Anyway good luck.
Dear bro Kinspk,

Thanks for the links

I was referring to the forecast for the crude oil inventories last week >> higher than expected forecast but price did not go down.

Correct me if i'm wrong.
  • #953
  • Oct 16, 2016 9:42pm Oct 16, 2016 9:42pm
Quoting limzy
{quote} Dear bro Kinspk, Thanks for the links I was referring to the forecast for the crude oil inventories last week >> higher than expected forecast but price did not go down. Correct me if i'm wrong.
Np Bro, btw hope this link help you. Market dont work on a linear dimension such as, if X happen, Market do Y, there are other elements that affect a particular instrument. And greater inventories means, greater supply or weaker demand, not neccessary oversupply, which may affect your overall sentiment of this insturment.

http://marketrealist.com/2014/06/cru...e-inventories/

http://www.forexfactory.com/showthre...02#post9071902

Good luck Bro.
The only winner is the one who survive the longest...
  • #954
  • Oct 20, 2016 2:55am Oct 20, 2016 2:55am
Quoting ItsAtrap
{quote} Hello oil traders! Not much to update: I am still long, stops still in the same level as before, with most profits locked, yada yada.. {image}
Hello. Small update on my Crude long positions: yesterday I took some profits at 52.62. Stops on remaining trades still at the same level, with profits locked
  • #955
  • Oct 20, 2016 11:25am Oct 20, 2016 11:25am
Quoting limzy
{quote} I look at the lower time frames.. IMHO i think oil is relatively unaffected by news releases...except crude oil inventories of course.
any one trade in daily bases on crude oil????
  • #956
  • Oct 21, 2016 4:24pm Oct 21, 2016 4:24pm
I guess no
  • #957
  • Oct 21, 2016 5:09pm Oct 21, 2016 5:09pm
Quoting dawn2009
{quote} any one trade in daily bases on crude oil????
Yes I do. Never trade anything else.
  • #958
  • Oct 26, 2016 4:23am Oct 26, 2016 4:23am
Quoting ItsAtrap
{quote} Hello. Small update on my Crude long positions: yesterday I took some profits at 52.62. Stops on remaining trades still at the same level, with profits locked
Hello. I finally got stopped out of my remaining crude oil longs yesterday. I will be looking for price signals to probably re enter long in the coming days
  • #959
  • Oct 31, 2016 2:46pm Oct 31, 2016 2:46pm
Oil prices have been unsteady for some time.This majorly boils down to fears of oversupply of oil. But should ongoing talks by the OPEC arrive successfully at cutting production, we may see stability in oil prices.
  • #960
  • Oct 31, 2016 3:59pm Oct 31, 2016 3:59pm
Quoting Sharpet
Oil prices have been unsteady for some time.This majorly boils down to fears of oversupply of oil. But should ongoing talks by the OPEC arrive successfully at cutting production, we may see stability in oil prices.
OPEC is a joke. They use us as puppets and are kings of the prisoners dillema (sp?). Anyone who actually thinks that many nations (who mostly hate each other) can agree to something and trust that the other is "onboard" is a few screws loose. Even if they could, US tech will com on line if prices reach beyond $60 to cap this. Can it happens, sure.. anything can. But probability is for oil to go back down and to kill off some of these US firms who have billions in debt. THey need to kill that off to have a chance... oh and there there is the current MASSIVE amount of spec longs in oil right now. Usually a tell we're heading lower.
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