Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
Trading: Primarily Energy but also a little Equities, Fixed Income, Metals, U308 and Crypto.
Frequency: Many times daily
Duration: Never
Posts: 5,059 since Dec 2013
Thanks Given: 4,410
Thanks Received: 10,226
We were talking about the fundamentals and how they effected the market. You seem to be talking about a single 5 minute bar. If you got stopped out, or had a profit target that got hit on that bar, your 100% right. (Remember Monday's low was still higher than Friday's low). If you didn't though, CLQ rallied back and almost settled unchanged. CLZ on the other hand sold off early and continued to sell off all day, significantly widening the Q-Z spread, which is what we were discussing. So I don't think its black and white as you say.. somebody looking at a RTH wouldn't see any of what you highlighted.
Your initial 5% down prediction was a bold one, and accurate in direction and severity if not magnitude and you should be commended for it. I on the other hand am just talking about something that already happened, monday morning quarterbacking as they say here. My position was setup to make money on a front end sell off. Unfortunately I was wrong and lost money on the whole move.
Where do you think it goes from here? Seems like we had a massive speculative long position liquidation in the most recent commitment of traders report. Despite that though we still seem to be very tight, with Sep $1.40 over October. Then there's Iran, offset by a potential SPR sale.
Spreads have tightened and we had the washout , i think downside limited medium term . CL was a tad extended and regardless of that Trump news that was rescinded it was always going to retrace imo. I had the 65 area pegged for support as conviction buy area
Hi,
nice chart data idea. Does it represent the price for each futures expiration contract? Think and hope so...
Is there an easy place to get it online-updated?
Thank you!
Because there was none
It was a basic Forex CFD type movement that isnt normally associated with Crude. Typically a purposed $2+ move means $2-$4+ move and stay there (that session), no second chances.
Since the move meant nothing, price continuation will of course thrust as usual during pre-New York open, euro session close and Wednesday morning reports.
Trading: Primarily Energy but also a little Equities, Fixed Income, Metals, U308 and Crypto.
Frequency: Many times daily
Duration: Never
Posts: 5,059 since Dec 2013
Thanks Given: 4,410
Thanks Received: 10,226
Agreed. While Z8 is $5 off it's high's Z20 is only $2 lower, and trading $4 higher than it was at a similar Z8 price on the way up. It's even more pronounced further back where Z25 is only pennies below it's 2018 high and a $1.50 higher than where it was when Z8 put in it's end June highs. Interestingly, despite the back end strength, the rig count seems to have stalled being up only a few rigs since the end of May versus +110 in first five months of year.