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

[uttamkamlesh]

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[uttamkamlesh]

Guys! Gold has broken all support lines.
Right now @1545.
So we have to wait n watch for our entry.
Let's see how it responds to 1478.3

 

[uttamkamlesh]

Guys! Gold has broken all support lines.
Right now @1545.
So we have to wait n watch for our entry.
Let's see how it responds to 1478.3

In this Gold Weekly chart, i think it's Hammer forming up. Good!
Let us wait on closing basis.

 

[uttamkamlesh]

http://stocata.org/sp500analysis_en/daily.html

Guys you may short S&P500 on NSE @1130 around.

 

[pkamalesh]

Hoping this would work...

 

[myamit]

Hoping this would work...

Are you thinking for target of 4980+ for Nifty (maybe by EOD today)

Btw... how would calculate time to reach the target? Like last crude trade, you mentioned 2000 mins.

Regards,

 

[uttamkamlesh]

Are you thinking for target of 4980+ for Nifty (maybe by EOD today)

Btw... how would calculate time to reach the target? Like last crude trade, you mentioned 2000 mins.

Regards,

No! NIFTY has rejected 5000 levels already in the morning by making Open=High before expiry tomorrow. So very feeble chances for 4980+ levels again.

Well....This is a very poor WW, untradable.

Time is a difficult variable to predict.
For crude i told on a funda that i read in Jeffrey Kennedy's classroom lectures for Elliot Wave Theory.

Kamlesh Uttam

 

[winsomecapital]

You are doing really good job for new trader/technical analyst.:thumb:

 

[uttamkamlesh]

Guys! Who are new to Wolfe Waves to first paper trade at least 100 such waves. Then only put your hard earned money at risk. Making money from Wolfe Waves is fast but needs expert's touch. Please paper trade first.

Google out, read everything about them available and frame your rules. Before a trade ensure that you are following the rules exactly without compromise.

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To earn 1-2% in commodities daily just master Pride's Intraday Strategy. It has a great combination of settings, dual TF, momentum.
The idea originates from Robert C Miner. http://www.traderji.com/day-trading/29798-prides-intra-day-strategy-profit-everyday.html

Tweaks i suggest:

1. Just Go with the trend because 'trend is your friend' as they say but only if you are with it.

2. Commodities trend a lot.

3. Check economic calender first for any forthcoming NEWS. Systems perform well in the absence of news..

4. Take [240 min - 30 min - 5 min] all momentums together for intraday trade on 05 min chart. Highly probable trade.

5. Look for and draw valid trendlines on all TF.

Paper trade first at least 30 such trades. That you can finish in 2 weeks.
Then analyse the results. Frame rules and then trade with them.

Kamlesh Uttam

 

[pkamalesh]

Deleted.....