kummi90 

I'm slightly bearish until we see CL close over the 8 simple moving average. Hurricane season is coming up, both oil and natty gas should be bullish mid/after August! At least according to seasonality charts, but it depends on temperature (natty gas), and oil demand. Can you talk more about your approach to trades in Energy market, particularly /CL? Are you successful trading?

I typically look to buy after crude has sold off 100-200 ticks intraday and sell short after crude has rallied 100-200 ticks intraday. I use a stop loss typically 30 to 60 ticks, sometimes less depending on the situation. Crude moves in ranges and I try to buy lows sell highs of those ranges. Pretty simple strategy.

#CL Long
Yesterday, after the activity of sellers in the premarket, they could not push the price further down. Several times Lows (pattern 2107) was updated, but the demand was constantly increasing and returned the price to 75-75.2.
Supply dried up.

Short
premarket: Buying climax, Supply is increasing, new Highs and Demand is drying up.

Short
Demand has no result.
I indicated that before the US session, the price could trade in the range of 78.3-78.8

voloshin00efim 

Short Demand has no result. I indicated that before the US session, the price could trade in the range of 78.3-78.8

done. reopen short cause Supply is dominated.

blackgrey45 

I typically look to buy after crude has sold off 100-200 ticks intraday and sell short after crude has rallied 100-200 ticks intraday. I use a stop loss typically 30 to 60 ticks, sometimes less depending on the situation. Crude moves in ranges and I try to buy lows sell highs of those ranges. Pretty simple strategy.

Just to be clear, 100 ticks is a dollar move on the /CL price, yeah?
This is similar to what I'm trying as well. Solid scalps on the 5 min charts, though I try to place trades on double tops or bottoms. I still haven't managed break-outs successfully, though I have seen ample opportunities in hindsight. I have yet to let it ride, almost like I'm trading scared, so I take certain trades off way too soon. I trade on a 20K account (well originally, I'm a bit down), so I try to look for 20 cent stop-losses.

Though it would also be generally be good practice to catch the meat of such rallies, easily netting 40-50 cents on those momentum moves, but I also have a day-job, so I have yet to catch a nice rally.

kummi90 

Just to be clear, 100 ticks is a dollar move on the /CL price, yeah? This is similar to what I'm trying as well. Solid scalps on the 5 min charts, though I try to place trades on double tops or bottoms. I still haven't managed break-outs successfully, though I have seen ample opportunities in hindsight. I have yet to let it ride, almost like I'm trading scared, so I take certain trades off way too soon. I trade on a 20K account (well originally, I'm a bit down), so I try to look for 20 cent stop-losses. Though it would also be generally be good practice to catch the meat of such rallies, easily netting 40-50 cents on those momentum moves, but I also have a day-job, so I have yet to catch a nice rally.

Yeah 100 ticks is a $1.00 movement in the CL or MCL. Being in Europe you probably do a lot of your crude trading in the afternoon. Trying to capture reversals in crude can be costly but that is how I like to trade it. I like to trade the MCL because of the small tick size. Sometimes I trade with 1 sometimes 2 contracts but not usually more than that. If I am trading crude on regular basic I do get stopped out a lot but the possibility of 100 tick profit is definitely possible especially if you let your profits run.

blackgrey45 

Being in Europe you probably do a lot of your crude trading in the afternoon.

If your in Europe and looking for a higher liquidity crude contract to trade in the AM, there's always the ICE Europe (old IPE/ & LIFFE) Brent contract.

CME Group :- U.S. crude exports to Europe attract new trading interest
https://www.cmegroup.com/articles/whitepapers/us-crude-exports-to-europe-attract-new-trading-interest.html

ChatGPT Summary...

The article by Paul Wightman highlights the increased significance of U.S. crude oil, particularly WTI Midland, in the global oil market. Since its inclusion in the Brent pricing mechanism in 2023, WTI Midland has influenced global crude flows, making U.S. crude prices more prominent internationally. This shift has transformed the U.S. from a major oil importer to a significant exporter, with substantial exports to Asia and Europe.

Key points include:

1. WTI Midland's Role: Its addition to the Brent benchmark has led to a 54% influence on Dated Brent pricing from August 2023 to June 2024.
2. Increased Exports to Europe: U.S. crude exports to Europe have surged, reaching around 2.2 million barrels per day by May 2024, significantly higher than North Sea Brent production.
3. European Trading Interest: There has been a rise in WTI futures trading during European hours, with volumes outside U.S. core hours increasing from 25% in January 2023 to over 35% in June 2024.
4. Record U.S. Production: Driven by the shale revolution and global demand, U.S. crude production hit near-record levels, with 13.18 million barrels per day in March 2024.

Overall, the inclusion of WTI Midland has enhanced U.S. crude's role in global markets, influencing pricing and increasing trading interest and exports.

One of 5 charts...



Just for clarification, regarding WTI-Midland. For decades WTI-Midland was WTI delivered to Midland, TX rather than Cushing, OK (where the NYMEX futures contract is based). There was, and still is, a daily Platts Quote (think Spot Price) for WTI at Midland, TX. But when we talk about WTI-Midland being factored into "Dated Brent" (which is the World Physical Benchmark) they actually mean WTI Midland Grade Crude, loaded via vessel from a Houston/USGC port, which is often referred to as WTI-Houston and not WTI-Midland. For more info on this...
FAQ: Platts WTI Midland’s inclusion into the Brent complex
https://www.spglobal.com/commodityinsights/PlattsContent/_assets/_files/en/our-methodology/methodology-specifications/brent_faq.pdf

blackgrey45 

Yeah 100 ticks is a $1.00 movement in the CL or MCL. Being in Europe you probably do a lot of your crude trading in the afternoon. Trying to capture reversals in crude can be costly but that is how I like to trade it. I like to trade the MCL because of the small tick size. Sometimes I trade with 1 sometimes 2 contracts but not usually more than that. If I am trading crude on regular basic I do get stopped out a lot but the possibility of 100 tick profit is definitely possible especially if you let your profits run.

I do like pre-market actually some times. And I work from home.
I can't do MCL because it costs too much per move, maybe I shouldn't use tastytrade for trading. Using /CL, I try for around 20 cents / 200 USD stop loss, trying to catch similar moves or higher. I need to work on letting winners ride. I often get scared when price run towards local highs and lows, and cash out early.
Today I made 470 pre-market, lost 150 then 220 again just now. Sigh. And I missed that rally up / double-bottom on 5 min chart right around market open in USA. A seasoned trader could easily catch most of the meat today for 1000 dollars.

Still hesitant pulling the trigger on "box break-outs", but it seems to rip when I don't take it haha.