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sponge Jun 13, 2019 2:29am | Post# 1981

{quote} Sorry to hear about your loss sponge you'll win the next one. On what time frame are you trading?
I use daily for direction and watch 4,1,15 and 5 using 5 as the entry frame if indi's line up.

Ll1979 Jun 13, 2019 2:34am | Post# 1982

Bloomberg‏Verified account @business 4m4 minutes ago
BREAKING: An oil tanker on fire in the Sea of Oman sent a distress signal to the U.A.E.

https://www.bloomberg.com/news/artic...alflow-organic

Ll1979 Jun 13, 2019 2:46am | Post# 1983

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long @ 61.644 {image}
cashed
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sponge Jun 13, 2019 2:59am | Post# 1984

{quote} cashed {image}
Good stuff LI

Ll1979 Jun 13, 2019 3:09am | Post# 1985

{quote} Good stuff LI
Thnx had the luck on my side with Oman incident

Marco-Kanto Jun 13, 2019 4:09am | Post# 1986

{quote} Thnx had the luck on my side with Oman incident
Fortune favours the brave - you have to be in the market to take advantage of 'luck'. Bravo Ll.

Ll1979 Jun 13, 2019 4:27am | Post# 1987

{quote} Fortune favours the brave - you have to be in the market to take advantage of 'luck'. Bravo Ll.
thnx Marco-Kanto!

timingchain Jun 13, 2019 4:48am | Post# 1988

{quote} cashed {image}
Very nice trade!

Marco-Kanto Jun 13, 2019 4:49am | Post# 1989

{quote} thnx Marco-Kanto!
l still think we're heading south. These 2 tankers aren't carrying enough to effect supply levels in a big way IMHO. Yesterday the daily closed below the 61.8 (42.14-66.5) for the first time. I have a short at 52.55 - failure to close above the 30m 200MA. target LL 50.52.

Aussi Jun 13, 2019 5:05am | Post# 1990

{quote} l still think we're heading south. These 2 tankers aren't carrying enough to effect supply levels in a big way IMHO. Yesterday the daily closed below the 61.8 (42.14-66.5) for the first time. I have a short at 52.55 - failure to close above the 30m 200MA. target LL 50.52.
not much action after earlier spike

Ll1979 Jun 13, 2019 5:14am | Post# 1991

{quote} l still think we're heading south. These 2 tankers aren't carrying enough to effect supply levels in a big way IMHO. Yesterday the daily closed below the 61.8 (42.14-66.5) for the first time. I have a short at 52.55 - failure to close above the 30m 200MA. target LL 50.52.
It's not the supply levels that matters but the potential outfall in the region. The latest news their might be torpedoes involved.

https://www.zerohedge.com/news/2019-...rmuz-oil-soars

Marco-Kanto Jun 13, 2019 5:16am | Post# 1992

{quote} l still think we're heading south. These 2 tankers aren't carrying enough to effect supply levels in a big way IMHO. Yesterday the daily closed below the 61.8 (42.14-66.5) for the first time. I have a short at 52.55 - failure to close above the 30m 200MA. target LL 50.52.
*edit - took 50% at +20, SL set to BE 52.75
*edit - out at BE

aariapoor Jun 13, 2019 5:18am | Post# 1993

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{quote} l still think we're heading south. These 2 tankers aren't carrying enough to effect supply levels in a big way IMHO. Yesterday the daily closed below the 61.8 (42.14-66.5) for the first time. I have a short at 52.55 - failure to close above the 30m 200MA. target LL 50.52.
News are just excuses to move the market;
I didn't close my sell last night but if I see a correction like this under the line, I have to close it with loss.
But if it drops during NY session, it can go lower
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Marco-Kanto Jun 13, 2019 5:19am | Post# 1994

{quote} It's not the supply levels that matters but the potential outfall in the region. The latest news their might be torpedoes involved. https://www.zerohedge.com/news/2019-...rmuz-oil-soars
Yes reading about the developments now. The US will strap on its boots and save the day. They don't want expensive oil.

I have SL in place so let's see how it plays out.

*edit - I sound very dismissive. I understand that this news could be the beginnings of tension in the area which could shift market sentiment - but I tend not to look much further than the end of the day when trading with the sentiment in the back of my mind. But as you know - bull days can occur in bear markets and vice versa.

Marco-Kanto Jun 13, 2019 5:22am | Post# 1995

{quote} News are just excuses to move the market; I didn't close my sell last night but if I see a correction have to close it with loss and buy from here But if it drops during NY session, can go lower {image}
Same same.

zuinjimi Jun 13, 2019 5:23am | Post# 1996

Crude oil moves through perceptions of supply and demand, affected by worldwide output, as well as global economic prosperity. Oversupply and shrinking demand encourage traders to sell crude oil markets to lower ground while rising demand and declining or flat production encourage traders to bid crude oil to higher ground.

Ll1979 Jun 13, 2019 6:49am | Post# 1997

OPEC Monthly Oil Market Report is out

https://www.opec.org/opec_web/en/publications/338.htm

aariapoor Jun 13, 2019 8:18am | Post# 1998

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{quote} News are just excuses to move the market; I didn't close my sell last night but if I see a correction like this under the line, I have to close it with loss. But if it drops during NY session, it can go lower {image}
Sorry guys, my drawing was wrong, I realized when I looked at Daily chart, here is what we're waiting for:
WTI 1H :
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sponge Jun 13, 2019 8:33am | Post# 1999

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Think the market was news driven yesterday, -63 pips for me My indi's say buy at current levels but sometimes price can hug the indi's for some time so staying out for now. I think possible support levels today are 51.72, 52.07, possible double bottom on the daily. Good luck
Fish fingers yeaterday Fillet Steak today 200+ pips

I think more upside is possible I may re enter on pullback, 58 is possible longer term ...we'll see
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timingchain Jun 13, 2019 9:43am | Post# 2000

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WTI H4 median line has recrossed back above EMA20 and through a downtrend line. A bullish condition, but for how long?

EDIT
This looks like a false breakout. HoD is 53.45.
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