Us light crude - trading tips

[TZ Futures]

US Light Crude (DEC) Trading Tip - 04 Nov 2009

Update 08:30 GMT
Current Level: 79.79
Support: 77.40, 76.55
Resistance: 80.40, 81.25, 82.00

We had our breakout as expected and was to the upside. We are, therefore, bullish going into todays session and looking to go long upto the $81 barrier.

 

[zuke]

So I have exited 1 lot at 79.70 for +156 moved my stop to 78.34 and next target is 81.50

Stop now moved up to 78.84 (below 5/8 MM Line) with TP2 adjusted slightly downwards to 81.25

 

[TZ Futures]

US Light Crude (DEC) Trading Tip - 05 Nov 2009

Update 11:30 GMT
Current Level: 79.90
Support: 79.50, 79.00, 76.55
Resistance: 80.40, 81.25, 82.00

Great data yesterday afternoon from the Energy dept. which initially gave Crude a boost going just above the $81 but still below our resistance of 81.25 and then slowly drifted back.

We remain bullish and still expect to make gains later today as long as we remain above 79.50. Below this, although we have a 'fragile' support level of 79.00 we may well head lower.

A close above 80.40 today will further enhance our bullish view.

 

[TZ Futures]

US Light Crude (DEC) Trading Tip - 06 Nov 2009

Update 09:15 GMT
Current Level: 80.20
Support: 79.50, 79.00, 76.55
Resistance: 80.50, 81.25, 82.00

We had a false breakout on the downside from our first support level of 79.50 going down to a low of 79.39 but was quickly taken back above this level. Although equities markets were rallying, commodities were not having any of it!

Todays US employment data will be a crucial player today to direct the markets. As I have mentioned in the FTSE tips section:

"The US unemployment rate is the most important piece of data that will be watched closely - Market expects 9.9%, if it is higher than this, expect a huge sell-off. If it is 9.9% or lower, the markets will resume higher."

 

[piparb]

Oil will go up again !!!

Hello You all :cheesy:

I am long since 77.21$ , tomorrow I hope that my trade will go on .
Last week I did 18430$ win , because all my oiltrades are well .
I will say also maximum 78.50$ , then I go out .:cheesy:
But if the oil will drop down because the following facts:
Stochastik = well , Obama = the oiltraders are too rich , I drop it down ,
I will go out and buy some short contracts on oil .
So we learn , that the analysis is only god , when Obama sleeps .

happy trading

US Light Crude (DEC) Trading Tip - 03 Nov 2009
Update 11:15 GMT
Current Level: 77.24
Support: 76.55
Resistance: 78.50

Our levels did a great job yesterday again, but we will surely see a breakout either way soon, I would trade within the range with tight stop losses in case of any breakout.

 

[piparb]

close at 78.75$

Very nice trade , hey your levels are correct , that is why I'm posting here :cheesy:
I close at 78.75 $ tomorrow at 08:20 CET , 1.50$ win per contract
Thanks for Pivot , Fibonacci and Obama - shorts

Today at 14:30 CET we will see , whats going on with the oil .

In the morning the GBP$ is also well to me and I got 100Pips

My favorite songs are : A Hammer in the morning and Baby come back ......

 

[TZ Futures]

US Light Crude (DEC) Trading Tip - 09 Nov 2009

Update 10:00 GMT
Current Level: 78.75
Support: 77.20, 76.55
Resistance: 80.50, 81.15, 82.00

We sold off heavily following the US Employment data on Friday. However, our important support of 76.55 held firm and represented a buying opportunity. I would continue to buy until $80 today, then wait for another pullback down to our supports before buying again.

 

[piparb]

Levels ??????

I don't believe this levels , because they miss often
Every 5 minutes come new levels , that is impossible to trade on this .
The moves are nonlinear they only watch digital ranges or not .
Nowbody will win on old levels .

Happy scalping long bars(wicks) against :cheesy:



QUOTE=TZ Futures;969726]Update 10:00 GMT
Current Level: 78.75
Support: 77.20, 76.55
Resistance: 80.50, 81.15, 82.00

 

[TZ Futures]

US Light Crude (DEC) Trading Tip - 10 Nov 2009

Update 08:30 GMT
Current Level: 78.85
Support: 77.95, 77.20, 76.55
Resistance: 80.50, 81.15, 82.00

Yesterday we got a high of 80.20, just below our first resistance of 80.50 and if you went long upto $80 like we said - well done!

We are still happy going long and continue buying on any dips today. Around 78.00 there is some new support appearing, which is a good place to go long. We would again target $80, and a stop at 77.60.

 

[TZ Futures]

US Light Crude (DEC) Trading Tip - 11 Nov 2009

Update 08:30 GMT
Current Level: 79.12
Support: 77.95, 76.55
Resistance: 80.50, 81.15, 82.00

80.50 is proving a tough level to break, we got to a high of 80.45 before falling over hard all the way down just ahead of our support at 77.95.

Our scenario remains the same and continue buying on any dips with tight stop losses.

 

[SanMiguel]

What's the best time to trade WTI?
news reports usually released Wednesday at 1030GMT but the NY pits aren't open then...

 

[TZ Futures]

What's the best time to trade WTI?
news reports usually released Wednesday at 1030GMT but the NY pits aren't open then...

It is normally quiet in the mornings in the UK, after 12:30pm is when volume picks up in WTI.

 

[SanMiguel]

Took the short from 79.75 today from 1hr resistance and 2 candles spiking - worked out nicely.
Seemed like the USD was bought in big quantities as it went up across the board or down on xxxUSD pairs so wa sprobably due to that particularly on USDCAD.

Does anyone use the UCAD as an indicator to WTI?
I've been mainly using S&R and bollinger bands to trade oil but wondering how much this matters if it's largely driven by the $ / CAD.

 

[TZ Futures]

US Light Crude (DEC) Trading Tip - 12 Nov 2009

Update 09:15 GMT
Current Level: 79.11
Support: 78.35, 77.95, 76.55
Resistance: 80.50, 81.15, 82.00

Still in the trading range and our trading scenario is working smoothly each time. 80.50 is still proving to be a hard barrier to get through.

Trend support moves up to 78.35 today which represents a good place to go long again targetting 80.00-80.15. Stop loss I would keep just 15 ticks below the most important support at 76.55.

 

[SanMiguel]

Update 09:15 GMT
Current Level: 79.11
Support: 78.35, 77.95, 76.55
Resistance: 80.50, 81.15, 82.00

Still in the trading range and our trading scenario is working smoothly each time. 80.50 is still proving to be a hard barrier to get through.

Trend support moves up to 78.35 today which represents a good place to go long again targetting 80.00-80.15. Stop loss I would keep just 15 ticks below the most important support at 76.55.

Would the approach to 78 (the last 1hr wick support) be a good place?
Edit: broke right through that. Am looking to buy in the 76.75 region.

Does anyone use volume analysis in their trading for WTI?

 

[TZ Futures]

US Light Crude (DEC) Trading Tip - 13 Nov 2009

Update 08:30 GMT
Current Level: 77.30
Support: 76.55, 76.00, 75.22
Resistance: 77.95, 78.35, 79.50, 80.50, 81.15

76.55 was the key level we needed to hold. It had held by the close, in fact 76.55 is exactly were the low was, however, overnight we hit a low of 76.05 but quickly rallied back.

Our old supports now turn resistance and we have plenty of them! We will now play the 'sell on strength' trade.

We will look to sell at 77.95, with a target of 76.75, stop loss 78.50.

 

[SanMiguel]

Update 08:30 GMT
Current Level: 77.30
Support: 76.55, 76.00, 75.22
Resistance: 77.95, 78.35, 79.50, 80.50, 81.15

76.55 was the key level we needed to hold. It had held by the close, in fact 76.55 is exactly were the low was, however, overnight we hit a low of 76.05 but quickly rallied back.

Our old supports now turn resistance and we have plenty of them! We will now play the 'sell on strength' trade.

We will look to sell at 77.95, with a target of 76.75, stop loss 78.50.

Thanks, are you using candle bodies as the support/resistance rather than wicks?
Why not buy from the 75.5 region? Do you feel the overall trend is down?
Daily trend has been up for a while, 4hr support looks pretty good.

 

[funky1]

Keep 'em coming TZ,i'm finding this very interesting!

 

[piparb]

Currencies drive the money streams

Took the short from 79.75 today from 1hr resistance and 2 candles spiking - worked out nicely.
Seemed like the USD was bought in big quantities as it went up across the board or down on xxxUSD pairs so wa sprobably due to that particularly on USDCAD.

Does anyone use the UCAD as an indicator to WTI?
I've been mainly using S&R and bollinger bands to trade oil but wondering how much this matters if it's largely driven by the $ / CAD.[/QUOTE

I wonder that nowbody knows that

 

[piparb]

Analysing old Pivots for nowbody

Update 09:15 GMT
Current Level: 79.11
Support: 78.35, 77.95, 76.55
Resistance: 80.50, 81.15, 82.00

Still in the trading range and our trading scenario is working smoothly each time. 80.50 is still proving to be a hard barrier to get through.

Trend support moves up to 78.35 today which represents a good place to go long again targetting 80.00-80.15. Stop loss I would keep just 15 ticks below the most important support at 76.55.

This bull**** sounds like the radio ..... bla bla bla .....

I say one week before , that the oil will come down , on Obama shorts !!!

TZ Futures say : the oil is going on 80.50 $ and we will not go out .....hahahahaha

Why you write this bull**** here ? Nowbody believes you