60 min Flow in International Commodities.

[rakeshluthra430]

Thanks a lot Sir....will eagerly await for more in the evening.
Prabh had discussed his range-strategy in this thread..post no 149 and 151. Here is a link for that:

http://www.traderji.com/commodities/26207-60-min-flow-international-commodities-16.html#post272392

Prabh can throw more light on it...though it is a well illuminated point now.

Rakesh

 

[Saint]

So well put by Prabheet in Pages 14 and 15.......in total agreement.Could not have put it that well though.

Thanks Prabhjeet,and great stuff.....and looking fwd to more,more and more from you,my friend.

Saint

 

[ThE HaMmEr]

nice to see all d bigg guys in actionn ....

was'nt posting actively coz of health issues.......

this is gold mini 2nd month

15400 - f


regards

neeraj

 

[rakeshluthra430]

nice to see all d bigg guys in actionn ....

was'nt posting actively coz of health issues.......

this is gold mini 2nd month

15417 - f


regards

neeraj

Wrong here Neeraj..stops still at 11 am bar low-space

 

[ThE HaMmEr]

Wrong here Neeraj..stops still at 11 am bar low-space

u mean 15400 - f rite....... yes dat only is correct.....coz lowest of the three touch points........

*will just correct it......

 

[Prabhjeet]

Thanks a lot Sir....will eagerly await for more in the evening.
Prabh had discussed his range-strategy in this thread..post no 149 and 151. Here is a link for that:

http://www.traderji.com/commodities/26207-60-min-flow-international-commodities-16.html#post272392

Prabh can throw more light on it...though it is a well illuminated point now.

Rakesh

Nothing much to Add Rakesh just a few points to think about.

As I had mentioned that we have to start drawing envelopes as soon as we see \/\/ or /\/\ on charts but we start to use the envelope only after there have been 25 bars on Daily chart in this \/\/ pattern, not before that otherwise we will end up trading every consolidation as Trading Range which is not desirable, now the question arises that how many Bars do we need for a valid Trading Range on 60 min. charts.

I was using envelope for stocks after around 60 bars on 60 min charts in \/\/ i.e. roughly 10 bars on Daily charts, as we have around 14 hourly bars each day in commodities so we might need around 130- 140 bars or around 10 Bars on Daily charts for using Envelope. The no. of bars is the thing that Saint and other Seniors will have to think of

4. Strategy for sideways market-- The current phase i feel is temporary. Commos are known to be in a range for a lot lot of time. What is your strategy for that. I guess the one laid out by Prabhjeet would be useful here..

Rakesh if you have noticed it, you will find that mostly stocks or commodities get into these kind of ranges only after they have seen a sharp rise followed by equally sharp decline, you can take the examples of Nifty, Crude or Copper.

For Gold I think that time is far away yet, I think there are very minimal chances of it getting struck in the range at its peak, it would most probably move up or down only.


Another thing I would like to point it here is that everyone has heard that Stocks spend most of their time in a "range" but what is meant by "range' here is different than what we call a Trading range.

If I cite the example of Nifty then we were Trending on Monthly charts only when in around July 2003 the Pivot hi was broken after that till 4 years we just moved up but that would be called a Range on Monthlies not a Trend. So the point here is that though Commodities may spend most of their time in a Range but they are still tradable

So well put by Prabheet in Pages 14 and 15.......in total agreement.Could not have put it that well though.

Thanks Prabhjeet,and great stuff.....and looking fwd to more,more and more from you,my friend.

Saint

Thanks for your kind words Saint but this Trading Range is not my invention, I had read it myself somewhere so thought of putting it here.

It would be very helpful if you can guide us on how to use it in our Flow method

 

[rishig38]

u mean 15400 - f rite....... yes dat only is correct.....coz lowest of the three touch points........

*will just correct it......

not because of lowest of three touch points but because LOD is the PL and other two touch points not really PL as the HOD was not taken out any of the next bars till now...

 

[ThE HaMmEr]

not because of lowest of three touch points but because LOD is the PL and other two touch points not really PL as the HOD was not taken out any of the next bars till now...

30 min chart -- > just to show wat was happenint in 60 min chart

i use RSI here 2 .... so this pl is healthy ....

there is no nearby pivot except dis......reversal will b gud

15400 has its significance since 10 hrs of congestion dere......its not breaking dat level.....the more it stays here the more better reversal will b

regards

neeraj

 

[rakeshluthra430]

As I had mentioned that we have to start drawing envelopes as soon as we see \/\/ or /\/\ on charts but we start to use the envelope only after there have been 25 bars on Daily chart in this \/\/ pattern, not before that otherwise we will end up trading every consolidation as Trading Range which is not desirable, now the question arises that how many Bars do we need for a valid Trading Range on 60 min. charts.

I was using envelope for stocks after around 60 bars on 60 min charts in \/\/ i.e. roughly 10 bars on Daily charts, as we have around 14 hourly bars each day in commodities so we might need around 130- 140 bars or around 10 Bars on Daily charts for using Envelope. The no. of bars is the thing that Saint and other Seniors will have to think of

Rakesh if you have noticed it, you will find that mostly stocks or commodities get into these kind of ranges only after they have seen a sharp rise followed by equally sharp decline, you can take the examples of Nifty, Crude or Copper.

For Gold I think that time is far away yet, I think there are very minimal chances of it getting struck in the range at its peak, it would most probably move up or down only.


Another thing I would like to point it here is that everyone has heard that Stocks spend most of their time in a "range" but what is meant by "range' here is different than what we call a Trading range.

If I cite the example of Nifty then we were Trending on Monthly charts only when in around July 2003 the Pivot hi was broken after that till 4 years we just moved up but that would be called a Range on Monthlies not a Trend. So the point here is that though Commodities may spend most of their time in a Range but they are still tradable

Thanks for your kind words Saint but this Trading Range is not my invention, I had read it myself somewhere so thought of putting it here.

It would be very helpful if you can guide us on how to use it in our Flow method

Great post Prabh paaji....agree with you totally....and understand what you are trying to convey wrt trading ranges.

Next few days are going to be exciting here in this thread.....lots of wisdom coming our way....

Thanks again,
Rakesh

 

[Prabhjeet]

Great post Prabh paaji....agree with you totally....and understand what you are trying to convey wrt trading ranges.

Next few days are going to be exciting here in this thread.....lots of wisdom coming our way....

Thanks again,
Rakesh

Yes Rakesh looking forward for more of education from Saint and veterans like you, need to get to higher levels in company of good traders