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The oil thread
This is a discussion on The oil thread within the Energy forums, part of the Commodities category; Just thought I'd post up a thread in a similar vein to the FTSE or DOW threads. Anyone out there ...
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Mar 18, 2009, 4:56pm
| #1 |
| Senior Member  Join Date: Jan 2009 Posts: 224
| The oil thread
Just thought I'd post up a thread in a similar vein to the FTSE or DOW threads. Anyone out there daytrading oil ? Be good to have a thread where we can share our thoughts and ideas about price movement etc... Anyone interested? |
 
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Mar 18, 2009, 6:16pm
| #2 |
| Senior Member Join Date: Nov 2008 Posts: 387
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yea i am, had a loss just recently when oil shot from $40 to $50.
__________________ you can print more dollars, but you can't print more gold |
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Mar 19, 2009, 6:53am
| #3 |
| Senior Member Join Date: Jan 2009 Posts: 224
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I'm currently waiting for a clear signal as to which way oil is headed. It seems steady at the previous resistance level around 5000, just wondering if we'll see that level turn into support. |
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Mar 19, 2009, 11:25am
| #4 |
| Senior Member Join Date: Nov 2008 Posts: 387
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its probably heading to 51, right now its 52, then will shoot higher.
__________________ you can print more dollars, but you can't print more gold |
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Mar 19, 2009, 3:33pm
| #5 |
| Senior Member  Join Date: Sep 2008 Posts: 144
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I too trade oil and interested in other people's systems. Is anyone out there trading on fundamentals or are you all technical traders? I trade technically but genarally avoid trading during big news releases and speeches. I got a buy signal today 11am and opened at $50.26, closing 100 pips later. Sometimes it's really easy! |
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Mar 19, 2009, 4:48pm
| #6 |
| Senior Member Join Date: Jan 2009 Posts: 224
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I'm technical. I take notice of news etc... similar to you. Managed 50 pips today, lost 40 and made back 90. I think you're right, sometimes it seems really easy, for example when its trending nicely, but last week was a nightmare for my system! |
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Mar 19, 2009, 8:15pm
| #7 |
| Rookie Join Date: Mar 2009 Posts: 13
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I have been waiting for the breakout above the technical resistance at $50 - now bullish for the short term as price breaks out from the consolidation of the last few months. The COT index here suggests a bullish reversal and this is what I have used for my decision this time, and also the daily oil prices blog here which is excellent for the daily WTI contract news both technical and fundamental - cheers |
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Mar 19, 2009, 8:26pm
| #8 | |
| Senior Member Join Date: Sep 2008 Posts: 144
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