NexusFi: Find Your Edge


Home Menu

 





CL Crude-nalysis


Discussion in Commodities

Updated
      Top Posters
    1. looks_one indextrader7 with 82 posts (184 thanks)
    2. looks_two BTR411 with 26 posts (85 thanks)
    3. looks_3 PandaWarrior with 21 posts (81 thanks)
    4. looks_4 Oysteryx with 17 posts (15 thanks)
      Best Posters
    1. looks_one PandaWarrior with 3.9 thanks per post
    2. looks_two BTR411 with 3.3 thanks per post
    3. looks_3 indextrader7 with 2.2 thanks per post
    4. looks_4 The Alchemist with 1.7 thanks per post
    1. trending_up 49,462 views
    2. thumb_up 445 thanks given
    3. group 51 followers
    1. forum 227 posts
    2. attach_file 46 attachments




Closed Thread
 
Search this Thread

CL Crude-nalysis

  #1 (permalink)
 indextrader7 
Birmingham, AL
 
Posts: 1,065 since Apr 2012

It seems like there are so many CL traders around here, but not a good general place for people to post charts, analysis, trades, fundamentals, pre-market outlooks, higher timeframe stuff, etc for the crude oil markets.

There are many good CL traders here on futures.io (formerly BMT), and I hope for this to be a good place for them to circle up. Some things are more appropriate for personal trade journals, such as specific psychological/mentality things, but this will be a good place for traders from all styles to share ideas and analysis for CL in general.

If you're going to post a trade please include a chart and rationale for the position.

Trade well!


Can you help answer these questions
from other members on NexusFi?
NexusFi Journal Challenge - April 2024
Feedback and Announcements
My NT8 Volume Profile Split by Asian/Euro/Open
NinjaTrader
ZombieSqueeze
Platforms and Indicators
Request for MACD with option to use different MAs for fa …
NinjaTrader
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
Retail Trading As An Industry
58 thanks
Battlestations: Show us your trading desks!
55 thanks
NexusFi site changelog and issues/problem reporting
48 thanks
What percentage per day is possible? [Poll]
31 thanks
GFIs1 1 DAX trade per day journal
29 thanks

  #3 (permalink)
 indextrader7 
Birmingham, AL
 
Posts: 1,065 since Apr 2012


Looking at a daily ETH chart (continuous, back-adjusted) with a good bit of data on it:

Crude has been in consolidation really since coming down from it's crazy 2008 spike and fall. Since 2011 it appears we're forming a wedge, with ranges narrowing. We tagged the top of the wedge in June of this year, and are currently selling off towards the lower end.



Pretty basic stuff, but it doesn't hurt to throw this out there to start the thread off.

  #4 (permalink)
 
PandaWarrior's Avatar
 PandaWarrior 
In the heat
 
Experience: None
Posts: 3,165 since Mar 2010
Thanks Given: 6,329
Thanks Received: 13,404

Some thoughts on today.

I suspect we could be range bound today after yesterday spike down and price consolidates its losses. A little bit of a nearer term chart for starters today as @indextrader7 already took care of the macro view.


I have 96.00 as a possible upper containment area.....we will see as the day goes on....but I've already taken my first profits today and am just managing the runner for now.




EDIT:



EDIT:

And this is why I am not given to making many forecasts....it did break through the 96.00 zone and is now headed toward the 96.40 zone which is the 50% pull back on yesterdays drive down and a logical target for the runner....which by the way I took off because I thought it might range today from the 96.00 area down to the LOD. Wrong again.

Have a great weekend....


Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
The following 4 users say Thank You to PandaWarrior for this post:
  #5 (permalink)
Skinchin
Bocas Del Toro, Panama
 
Posts: 32 since Sep 2012
Thanks Given: 44
Thanks Received: 32

I am predicting a break through the 96 level. Has already been a little attempt but I believe the next one to carry more conviction. Yesterdays down spike proved very worthwhile for me, hit a 60 tick target in 1 second. In light of that there must be some serious money on the down side so we may see some consolidation before a further move down.

The following user says Thank You to Skinchin for this post:
  #6 (permalink)
Skinchin
Bocas Del Toro, Panama
 
Posts: 32 since Sep 2012
Thanks Given: 44
Thanks Received: 32

and there it is.. Don't you love it when you miss your entry to the tick!

  #7 (permalink)
 
PandaWarrior's Avatar
 PandaWarrior 
In the heat
 
Experience: None
Posts: 3,165 since Mar 2010
Thanks Given: 6,329
Thanks Received: 13,404


Skinchin View Post
and there it is.. Don't you love it when you miss your entry to the tick!

Well you didn't tell us where your entry was so we have no idea what you're talking about.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
  #8 (permalink)
 indextrader7 
Birmingham, AL
 
Posts: 1,065 since Apr 2012

Roll is near mates.


  #9 (permalink)
Skinchin
Bocas Del Toro, Panama
 
Posts: 32 since Sep 2012
Thanks Given: 44
Thanks Received: 32

I was referring to the break through the 96 level. Entry was at 96.04 at the re-test but didn't get the fill.. next one is at 96.18 on re-test

  #10 (permalink)
 erniebilko 
Norfolk, VA, USA
 
Experience: Intermediate
Platform: ensign, sterling
Trading: ES
Posts: 30 since Aug 2010
Thanks Given: 4
Thanks Received: 43


Tried a short around 07:30 at 95.73 at upper end of balance from 14:20 onwards yesterday with a tight stop at 95.81.

The b/o up from that balance gives a target of 96.16 - 96.43.

Not likely to trade it again today.


Closed Thread




Last Updated on November 4, 2014


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts