Crudeoil Intradday Trades based on GANN Square 9 Strategy

[rh6996]

Here is a screen shot of zerodha :

 

[umeshmandal]

Great Words.:thumb: If time permit 'll discuss more about crude.

RPS.VINOD

Waiting for your input. Also do you agree with RH that there is no need to look for trend in Crude oil prices before trading??

 

[madhavareddy1203]

I never tried to tread this territory to gauge the 'mood' of crude ! I sincerely feel it is not required also. This is a lay person's view , request you to kindly seek answer to this from Vinod sir or other seniors like Reddy sir who would be in a better position to answer.
Let me share my reasons for having this view that there is no need to gauge the trend before trading :
01. Overnight trend would be reflected in the opening price.
02. We are trading just 5 min or 15 min TF and that too for a 10 point profit which is too small a time period and a micro moneywise move to be affected by the overall 'mood' !
03. When we have an entry level a SL level and an exit level in place, why worry !
04. We are not carrying any overnight positions.

its a nice reply for above question.. Let me add some more for above lines.

Actually if u r doing intraday trading dont depend upon crude trend. cos crude react for every news around global. So u follow moment direction.

Coming to gann.. why i suggest to check trend...

i back tested and live traded with gann ( hourly time frame).. some calls are working fine.. some calls fail.. so i use filter with candle color in my afl.. by using that i got more accuracy..

The main rule im following in trading...

" Be friend with trend.. and follow trend .. never trade opposite direction"

And final suggestion from me... following these number magic like gann, pivot levels etc... waste of time.. crude will move depending upon global news and global price... even in gann also im noit taking every trade.. just when crude falling or raising that time only (new highs or new lows) that time only im using..

hope my reply will help to beginners.

 

[ankur07090]

2 SL hit today in crude and i did not reversed my trade

 

[rpsvinod]

Crude Rocks on last 2 days. trendy move
RPS.VINOD

 

[rpsvinod]

Crude@ 3040. upper freez hit:clapping:

 

[Sammy.Young]

that's why I asked if someone can guide to PREDICT the trend in advance. In one of my position, I exited too quickly...otherwise, I had earned min 100 points

 

[umeshmandal]

that's why I asked if someone can guide to PREDICT the trend in advance. In one of my position, I exited too quickly...otherwise, I had earned min 100 points

Hmm. but do you think any one can predict? Dont believe it if one claims it. The only other alternate, whether viable or not I dont know is to track the same system in higher TF! Say if you are trading it in 5 min or 15 min TF also track it in say hourly or Daily TF!
Best is, if you wish to go for bigger targets, trail the SL. There is no other option in an almost vanilla system where we trade simply the Candle's close and the BB and no other indicator etc.!

 

[ashu1234]

that's why I asked if someone can guide to PREDICT the trend in advance. In one of my position, I exited too quickly...otherwise, I had earned min 100 points

Just read my signature......lol

 

[ankur07090]

Hi All,
I am trying BB method on crude but still confused about time frame 5M or 15M
can anyone suggest which one is better in terms of less no of trade but good strike rate

thanks