How to trade Commodities - Gold, Silver, Crude Oil, Natural Gas

[sandipromade]

Hi

Please share your views on this Daily chart of Natural Gas...

Is this a buying opportunity....Winter demand increasing as well as weekly inventories are deepening...

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[abhi_neth]

Hi

Please share your views on this Daily chart of Natural Gas...

Is this a buying opportunity....Winter demand increasing as well as weekly inventories are deepening...

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Hi Sandy,

Yes, that was what I was referring to earlier. Support is around 3.3, & if it falls below that, then there is a bullish wolf wave setup. But don't just buy blindly at that level, watch for price action at that level to confirm entry.

Rgds

 

[mdrafi67]

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VOLUME CONFIRMATION...............UNKNOWN???????????????????????????????????

 

[abhi_neth]

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VOLUME CONFIRMATION...............UNKNOWN???????????????????????????????????

Hmmm.... didn't see the earlier failed WW's. Actually started trading NG recently. One thing that I know is there is no point in looking for longs in NG before the winter season starts. Most of the year it is short with commencement of winter season signalling longs. Also it is highly manipulative market. Good example would be for the past two weeks US NG inventory is showing tremendous declines but the prices continued to go down, with spikes during the day of inventory. These spikes are negated same day itself, or the next day. But these spikes are good entry position if the trend has been established as generally these are against the trend.

Thx

 

[sandipromade]

Hi Sandy,

I do trade NG on positional basis. It is a highly manipulated commodity to trade on intraday basis, with high volatility on Thursday's when US NG inventory comes out. Your stops have to be wide. Sometimes the spikes are so large that your intraday SL might not be trigged on limit. Good for positional trades but not recommended for intraday. I'm currently short on NG, will look to go long around 3.3

Abhi Sir,

As you predicted...your positional NG Call Rockss.....! Made 3.310 low...

But now at the support range NG shows Long Legged DOJI...its a bullish signal...are you agree that now its a good chance to BUY in BULK Lots..

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[abhi_neth]

Abhi Sir,

As you predicted...your positional NG Call Rockss.....! Made 3.310 low...

But now at the support range NG shows Long Legged DOJI...its a bullish signal...are you agree that now its a good chance to BUY in BULK Lots..

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Hi Sandy,

As stated earlier avoid taking position intraday. Look at EOD candle & take decision. NG trends a lot so even if position is taking EOD there are huge profits to be made. Also, look at the current EOD candle, it's a wide range bearish candle at present, so doji on 30 minute is no comparison to the EOD candle. Another thing, its the end of week & we can initiate fresh position on Monday, as NG tends to gap up/ down over weekend. NG is at a decision making level & a gap up/down will give the bais of the next move.

Thx

 

[sandipromade]

Hi Sandy,

Yes, that was what I was referring to earlier. Support is around 3.3, & if it falls below that, then there is a bullish wolf wave setup. But don't just buy blindly at that level, watch for price action at that level to confirm entry.

Rgds

Abhi Sir,

As we seen it falls to your support level 3.310...
I searched different TF but was unable to find Bullish WW setup...please can you post the same...actually i am planning to buy 10 lots @ this support level.

 

[abhi_neth]

Abhi Sir,

As we seen it falls to your support level 3.310...
I searched different TF but was unable to find Bullish WW setup...please can you post the same...actually i am planning to buy 10 lots @ this support level.

Sandy,

Pls. just call be Abhi....that will do & no need to add Sir,

3.3 was not my support level but, was my take profit level for my short trade. Though this is a good support with oscillators showing divergence on EOD, now we need the price to react at this level. The current action on shorted TF might just be profit booking as it is a good support. Also, as said earlier, NG tends to gap up/down by considerable amount over the weekend. If infact this is a reversal level, the there are good chances that there will a gap up opening on Monday where we can look to enter long position. But if there is a gap down opening, then would signal continuing bearishness.

The WW level is a bit down at 3.25 levels, but as shown by mdrafi bhai, NG tends not to respect WW pattern, so will look at price action to enter position.

Thx

 

[sandipromade]

Abhi Sir,

I found one WW setup in progress on Daily NG...please check it out.

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[abhi_neth]

Abhi Sir,

I found one WW setup in progress on Daily NG...please check it out.

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Yeah, that's the one