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

Easier to Trade - Commodities or Indexes or Stocks

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uttamkamlesh

uttamkamlesh

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#2,721
#2,721
vinst said:
turtle traders look for entry at 55d breakout. 20day breakout is not serious turtle trading.
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Dear vinst, yes you are right that 55 day breakouts are considered as 'failsafe',,.....but my source of information is basically Edwards and Magee's book where this system got a place as described by a turtle.

Basically Richard Dennis gave full freedom to his students to allocate %age of Equity to 22D or 55D breakout as per their discretion, so i will have to keep a vigil at 20D breakouts also because WW psychology as well as 'Turtle Soup' technique as mentioned in Street Smarts are based on this event.
 
praveen taneja

praveen taneja

Well-Known Member
#2,722
#2,722
Today is Earth Hour.!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Please switch off all your Lights & Electrical appliances between 8.30pm to 9.30pm.

ACT TODAY FOR A BETTER TOMMORROW

SORRY FOR POSTING AT MANY PLACES JUST TO INFORM AND ALERT TO ALL BRO AND SISTERS
 
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coolcorner78

Active Member
#2,723
#2,723
praveen taneja said:
Today is Earth Hour.!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Please switch off all your Lights & Electrical appliances between 8.30pm to 9.30pm.

ACT TODAY FOR A BETTER TOMMORROW

SORRY FOR POSTING AT MANY PLACES JUST TO INFORM AND ALERT TO ALL BRO AND SISTERS
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The Electricity guys made us observe this from morning 10 AM till 6 PM today. Power just came back few mins back :(
 
C

coolcorner78

Active Member
#2,728
#2,728
coolcorner78 said:
For current month as said earlier we would see upside of 5650 and it did prove as resistance and we were close to it yesterday and today and we could not go past that. Even in the near term 5650 will be a first obstacle and only after we sustain for few days then only we can see 5800-5950.

For this months expiry it seems as if its going to be 5450-5400 (Looks like 5400 is attracting ;) the market than 5600). Only tomorrows closing will tell truth.

For march: In the earlier post I mentioned if rally continues 5800/5900 could be the top, now for that we need to sustain above 5650 for couple of days and achieve highs. On the downside for consolidation, 5400, then 5250-5150.

For march and beyond: The first support is 5400, then 5250-5150 has lot of support, lot of MA's, the falling trendline support of 13 months. So if we reach 5250-5150 it should used to buy for long term, like good stocks, or MF's, with 4850 as SL, below that we will fall back to bear market (we may see more pain in that scenario and we will start forming wave C, if we go below 4800). I feel we have entered a new bull market, the way it went up, the sentiment that was there in market, before and during that 45 days move, may be its a wave 1 of the new bull market/bigger wave, considering the sentiments.

Only time will tell.

Cheers!
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So far till march it has held onto 5150 levels. 4950-5100 looks like to be the base for the market as of now. So far the corrective ABC wave from 5630 had the necessary sentiment also in the markets. We may have started wave 3 or the last waves (of 5 waves) in wave C (in the correcting ABC which started from 5630) itself might be getting formed now. We can confirm that we might be in wave 2 if we start going above 5450-5500 and sustaining there. If we go below 4800 everything will change.

Cheers!
 
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