Yep, it's going to be pretty epic. Who knows what kind of liquidity there will be at the open. Anyone short is going to have to cover at whatever price they can... A gap this big will cause a lot of margin calls resulting in further upside pressure.

WTI Crude Oil Trading

Wow, huge news out of Saudi Arabia this weekend. Just for reference, the CME has no "limit up" for the WTI (CL) contract. There's a 7% price limit on heating oil (HO) and nat gas (NG).

WTI Crude Oil Trading

Judging by the chart it feels like this correction should run its course in the next few weeks. 2-3 months, as you suggested, would actually align better with my macro outlook... Perhaps the answer is we go rangebound for awhile. ...

XAU/USD & XAG/USD - Gold & Silver Traders Thread

Currently I'm thinking gold corrects down to the 1,380 - 1,450 support zone as shown below: image Gold (and bonds) had a great run and were overextended. Last week we had positive US-China trade developments along with some good data (ADP, ISM). ...

XAU/USD & XAG/USD - Gold & Silver Traders Thread

Absolutely. All things considered, gold is hanging in there very well. Check out gold against the US 10y (gray): image Gold hit it's low on Tuesday, but look how much bond's went on to drop! I'm surprised gold isn't trading closer to 1,460 based ...

Gold RIGHT NOW

Yep, you're right. Trade friction has been a big fundamental driver of the spread and it is a major risk to a mean reversion strategy. Actually if you have 30m or 1h Brent and WTI data in csv that would be really useful. I can't directly export it ...

Brent/WTI Hedging Strategy

Thanks buddy, likewise!!! I'll let you know when I get out. I delevered back in May and will probably exit completely in Q4, but I'll hold until the data turns. Long read, but if you're interested this guy does something very ...

High Impact Events Trading... Gold & Copper

Thanks ET! Seems like the ECB only had a marginal impact on WTI: image The later US-China trade headlines are a bigger deal since WTI is directly affected by Chinese tariffs.

Sweet, sweet Oil

Nice job Vorenzd, I'm long the S&P too. It came close to setting a record high today and I'm pretty confident it will in the next few days.

High Impact Events Trading... Gold & Copper

Anything that moves bonds will move gold. The ECB will affect European bond prices, which affects global bond prices, which affects the price of gold.

4 + 1 (Metals) strategy

Thanks for sharing that, I'll have to try it out.

Brent/WTI Hedging Strategy

My pleasure Hoffi4201! The Thinkorswim platform makes pairs trading easy so its a good option. I'm not sure who else has something built in for this, but you could do it with any platform that has a built in scripting language (Ninjatrader, ...

Brent/WTI Hedging Strategy

Yep, I went with 55 but that’s debatable.

Brent/WTI Hedging Strategy

Sure, I'd be happy to explain further. This is a textbook mean reversion trade so I'll explain the basics of that first, then get into the more complicated aspects. This is a chart of WTI-Brent (CL - BZ futures contracts): image Since Brent is ...

Brent/WTI Hedging Strategy

I think that's the right move. Oil has had a good run lately, but it's in a downtrend. I think we'll be south of $50 soon. image

Sweet, sweet Oil

I've been well, and yourself? I've been working on coding lately so I've been a little less active in the forum, but will try to participate more here going forward.

4 + 1 (Metals) strategy

$1,450 really isn't that far of drop. Gold went from $1,300 to 1,550 in just 3 months: image A $100 correction seems reasonable considering how far gold has come.

Gold RIGHT NOW

Nice write-up! I'm thinking a rate cut is more likely than a resumption of QE. I certainly hope we get a €45 billion purchase program for gold's sake, I've just seen the ECB disappoint the market so many times it's what I've come to ...

High Impact Events Trading... Gold & Copper

I think it all comes down to the ECB tomorrow. If they disappoint we get a continuation of this recent downtrend and we'll probably see 1450 soon.

Gold RIGHT NOW

Nice win Jp1! Those counter trend trades a little too risky for my blood.

4 + 1 (Metals) strategy