NYMEX: WTI Crude Oil ( NYMEX:CL1! ) On March 30, 1983, New York Mercantile Exchange (NYMEX) launched futures contract on WTI crude oil. This marked the beginning of an era of energy futures. WTI is now the most liquid commodity futures contract in the world. It’s 1.7 million daily volume is equivalent to 1.7 billion barrels of crude oil and $125 billion in...
USOIL Combination strategy with a Trendline, Unfilled Order (UFO) and Psychological level. Trend is a movement that shows where the market is moving. The term "trend" in everyday life is often used to express a situation, where something is in vogue or is gaining public attention. As you know, a trendline is a tool that can be used to recognize the direction of...
The Organization of the Petroleum Exporting Countries (OPEC) The Organization of the Petroleum Exporting Countries (OPEC) is a permanent intergovernmental organization with main goal to coordinate and unify the petroleum policies of its member countries. This pertains mainly to securing fair and stable pricing in the oil market; efficient and regular supply of...
High-Beta – AUD, CAD and NZD benefited from rising commodity prices on Tuesday, as markets set aside concerns about the spread of the Delta coronavirus variant. The notable outperformer in the commodities complex was oil prices, with WTI approaching $68 per barrel, up almost $2.50/+3% on the day. Indeed, following today’s strong performance in WTI, TD Securities...
#1 Add CCI Indicator with default 20 setting. #2 Add a CCI 0 level line. How to Filter Bad Trades. A - Bad: when price action makes CCI take a long time to go from -100 to + 100. B - Good: when price action makes CCImake a quick straight move from - 100 to + 100. #3 Buy when CCL breaks above +100 level. #4 SL below CCI +100 breakout candle. #5 Exit trade when CCI...
Looks like market finally broke out to the upside, a long-awaited move.
Someone brought this to my attention in oil chat and decided to have a look myself and you really do get to see so many tradeable scalping opportunities. Never bothered to look at oil this way before, but this is very insightful to me, thought I ought to share. If you are a pattern trader, then you really ought to start analyzing market this way in my...
This is intended more as educational material on a strategy for using renko charts. To begin with, I'll be using USOil in the examples but will include other markets as I continue through the series. The material is not intended to prescribe or recommend actual trades as the decision to place trades is the responsibility of each individual who trades as they...
Demonstrative tutorial only, no audio due to faulty mic.