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

[uttamkamlesh]

Hello Kamlesh,

SL for RCOM UMS saved by small margin today. Though huge move against the UMS direction. Your comments please.

there is a bullish news today with RCOM...you must exit.

.....NEWS is very dangerous for technical trading....

 

[uttamkamlesh]

Great narration Aditya.

So now what do you think next? Nifty actually broke range both side & again came back to its original domain.

Regards,

Today's bar is the breakout bar, place a BUY stop and SELL stop to it.
This is the best way i know to trade it.....from Jeffrey Kennedy's classroom lectures...

 

[adityasaraf007]

Crude 30min:

Does it look good for UMS..... Problem is it gave a consolidation after LL..... which skews Time Symmetry......

 

[myamit]

Today's bar is the breakout bar, place a BUY stop and SELL stop to it.
This is the best way i know to trade it.....from Jeffrey Kennedy's classroom lectures...

So you mean...

Buy above 4821 or Sell below 4692

(Nifty Future levels)

Is my understanding correct?
I was thinking on same lines but let's say with a filter of 15 points.

Also how about selling
4700 Put & 4800 Call with buystop & sell stop suggested. Due to today's volatility premium will be at high & if range (as it seems quite big) remains for few days ...time decay works in our favor.

Also with appropriate buy or sell stop coming into play.... good trade to earn premium on both side.

Your thoughts please.

Regards,

 

[uttamkamlesh]

Crude 30min:

Does it look good for UMS..... Problem is it gave a consolidation after LL..... which skews Time Symmetry......

Yes!..that's why i did not post it...

 

[trade2profit]

Get ready for a blast on either side...... If not tomorrow...... it should give a breakout on Monday..... (BTW, Saturday also has a Trading Session of about 1.5-2hrs)..... Beware of False Breakout......

Levels to watch 4805 and 4735 on Nifty Future........ If there's a Gap Opening..... we might not even get a chance of Retest........

Hi Adi,

Would you mind explaining what is this NR4, 7 & IB in your chart and what significance they hold. How you use these indicators to trade..

Thanks

 

[uttamkamlesh]

So you mean...

Buy above 4821 or Sell below 4692

(Nifty Future levels)

Is my understanding correct?
I was thinking on same lines but let's say with a filter of 15 points.

Also how about selling
4700 Put & 4800 Call with buystop & sell stop suggested. Due to today's volatility premium will be at high & if range (as it seems quite big) remains for few days ...time decay works in our favor.

Also with appropriate buy or sell stop coming into play.... good trade to earn premium on both side.

Your thoughts please.

Regards,

Call selling is better man....avoid selling puts in bear market...
Sell 4800 Call ....that's better...because of fake breakout today...

...markets may fall without warning but almost always rise with warnings.

 

[adityasaraf007]

Yes!..that's why i did not post it...

The first candle in consolidation had a low of 101.29 and the last candle had a low of 101.30...... Had the last candle gone 2-3 ticks below..... would then this be a Valid UMS....

 

[timepass]

Call selling is better man....avoid selling puts in bear market...
Sell 4800 Call ....that's better...because of fake breakout today...

...markets may fall without warning but almost always rise with warnings.

Why do you say fake breakout ? It is the second day above 21MA on the daily, large volumes, outside bar etc...etc..

 

[adityasaraf007]

Hi Adi,

Would you mind explaining what is this NR4, 7 & IB in your chart and what significance they hold. How you use these indicators to trade..

Thanks

Hi T2P..... NRx means the narrowest range in last x trading sessions..... and IB means Inside Bar; ie; todays high lower than yesterdays & todays low higher than yesterdays......

Markets are cyclical and hence..... narrow range bars are followed by wider range bars...... you should notice the range of Nifty being consistently on the higher side in the coming sessions...... You saw it today....

Would suggest you to have a look at AW Sir's Thread for psychology behind NR7..... If you want the link, it has been posted a few posts back....