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

Easier to Trade - Commodities or Indexes or Stocks


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NTrader42

Well-Known Member
dear Ntrader ..what i want to know is let us say that now in crude daily chart we can see gartley bullish formation.. and it has came up from $92 to almost $97.. but we can see right hand side there some fibo levels .. can we take any positions according to it??
Well to my mind this is quite simple, i will go by my predefined methodology / system / process and stick to it. There are 1000s of TA methods all of them give us probability and many of them may give signals of opposite direction, if we want confirmation from everything then we will not be able to trade.

If your system is to trade all the gartley patterns then go by it, if your system is to trade fib retrenchments then take them, if your system says give preference to one over other do that, there is no conflict here.

Now if you do not have a system to resolve fib v/s gartley (or any other pattern u want to trade) first make that choice, back test, decide what you will do under all possible scenarios and then stick to it.

In short make a system (define your trading rules, process) and then always follow it


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abhi_neth

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Abhi/Hills,

Any upcoming moves with NG....:confused:....i think NG got support @ 3.050 and inventory forecast also shows deep injections....



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Yeah, observing it but still no longs as of now. The was again a gap down on Monday. The down move is showing signs of weakness. Yesterday was a hammer, but still not seeing any volume confirmation. Still wait & watch.
 
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