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

[uttamkamlesh]

Now

Please elaborate on precise entry part, i.e. bullish stoch or buy stop above a green candle on 30 min chart or 4 h chart ?

and trade is going nowhere, hence i have exited but please do tell about exit part of this particular trade i.e. should I wait for hitting sl (Previous HL)

KID...make a folder of UMB and have collection of such set-ups and you would get a feel of the rhythm of price, i.e., prefer large swing amplitude, for example refer Chronimet Alloys on Weekly chart that i had posted few months back(check on Reuters by Google search).

Well....you have exited it's better as TL is not holding.

Here if you had calculated approx Reward/Risk ratio it would not have been more than 1:1 as primary target is HH only. This is due to large angle of the TL with the horizontal, lesser the angle better is the stability of the TL.


For entry, take help of Stoch bullish crossover on a smaller TF, other method you will judge with experience.

 

[NANDAMAD]

Uttam sir,

I am studying your thread from the beginning.
regards

 

[uttamkamlesh]

sir plz correct me if i am wrong
for taking a long position there has to be a falling wage pattern.

Falling Wedge is bullish, Rising Wedge is bearish...that's it.

This fact pointed out by Magee, was the basis of study of Bill Wolfe and he finally designed whole methodology of Wolfe Waves and charging USD 3000 for 3 weeks course!....

 

[uttamkamlesh]

How about this ??

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[uttamkamlesh]

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Yes! volume confirmation is lacking but...till now it's going good friday was a pause just because traders did not want to carry long positions over the weekend. This is a normal Friday phenomenon.

 

[uttamkamlesh]

Assignment -02

If any one can reproduce my trendlines on Crude chart that i post daily, it would be great achievement for the guy and thread and lastly me. Looking forward to it.

 

[timepass]

In the chart below (EOD-Union Bank of India), line 2-4 appears to be diverging from line 1-3-5. Also, the volumes seem to be low at point 3. So, I guess this is not a valid Wolfe Wave ??

We could also use some simple lesson on the false positives and false negatives in wolfe waves. Thanks.

 

[gurmy.]

Assignment -02

If any one can reproduce my trendlines on Crude chart that i post daily, it would be great achievement for the guy and thread and lastly me. Looking forward to it.

will give a try
http://imageshack.us/photo/my-images/12/64518289.png/

 

[adityasaraf007]

Hi TP and all others.... first of all please go through the manual on Wolfe Wave..... It has been posted by Kamleshji at post # 327.......

Now coming to UBI Daily Chart.... Since the lines 1-3-5 & 2-4 are not converging, it's not a valid WW..... And we don't look at the volumes at point 3.... Confirmation of Volumes is just sought at point 5.....

That manual on WW would clear all the doubts..... Happy reading and Merry Christmas...

 

[trade2profit]

Assignment -02

If any one can reproduce my trendlines on Crude chart that i post daily, it would be great achievement for the guy and thread and lastly me. Looking forward to it.

Hi Kamlesh Sir,

You know I had tried few times at my mt4 but it didn't came out exactly as yours so was always wondering if using the same terminal / software.
But i know its my some missing link. Will try for it be same.