How to trade Commodities - Gold, Silver, Crude Oil, Natural Gas
- Thread starter uttamkamlesh
- Start date
- Status
Re: NIfty W
Check out on Weekly chart.
Uploaded with ImageShack.us
Well i would not say it is a WW due to ambiguity of points 2, 4 but the idea of success of WW is present,
i.e., Price Compression and Falling Wedge in a Bullish Chart.
Check out on Weekly chart.
Uploaded with ImageShack.us
Well i would not say it is a WW due to ambiguity of points 2, 4 but the idea of success of WW is present,
i.e., Price Compression and Falling Wedge in a Bullish Chart.
Last edited:
Dear Uttamji,
I am just a learner.. and maybe my usage of the word Timeline was wrong.
What I meant was showing the Dates/Time at the bottom of the chart..
Right now, I started reading the thread from the beginning, and I hope to
contribute to the thread sometime in future, atleast in terms of asking few
queries!
Please continue your unselfish good work !!
I am just a learner.. and maybe my usage of the word Timeline was wrong.
What I meant was showing the Dates/Time at the bottom of the chart..
Right now, I started reading the thread from the beginning, and I hope to
contribute to the thread sometime in future, atleast in terms of asking few
queries!
Please continue your unselfish good work !!
Hi Sredhar,
Compare your chart with this one from Reuters.
Uploaded with ImageShack.us
Yes!...this WW would give best trade at around 550 with volume confirmation.
Compare your chart with this one from Reuters.
Uploaded with ImageShack.us
Yes!...this WW would give best trade at around 550 with volume confirmation.
Even I am learning abt TL's, but here are some of my opinions of TL
a) A Trendline (TL) is drawn connecting 2 pivot lows with a higher pivot in between in an uptrend & vice--versa for downtrend. Very important to draw it correctly as sometimes we find that the prices have close below the TL & after 2-3 bars the prices rise up again & continue their journey. More often, the cause is we drew the TL incorrectly.
b) The more touches on the TL then more harder it is to break.
c) A TL is considered to be invalid only if the price closes below/above it in the timeframe on which it is drawn. Eg. Daily TL is considered broken only if the price closes above/below it at EOD.
d) Break of TL does not mean it is reversal, but only that the trend is changing. So on the break of TL switch to higher TF, to get the bigger picture & also to lower TF to see whether new trend is developing.
e) Also, if the higher TF TL is broken on lower TF, then more often than not, there will be a pullback rally to the TL, to retest it.
That's all that comes to my mind right now....& I apologize if I've written things haphazardly, as I don't hv anything written down just posting what came to my mind.
a) A Trendline (TL) is drawn connecting 2 pivot lows with a higher pivot in between in an uptrend & vice--versa for downtrend. Very important to draw it correctly as sometimes we find that the prices have close below the TL & after 2-3 bars the prices rise up again & continue their journey. More often, the cause is we drew the TL incorrectly.
b) The more touches on the TL then more harder it is to break.
c) A TL is considered to be invalid only if the price closes below/above it in the timeframe on which it is drawn. Eg. Daily TL is considered broken only if the price closes above/below it at EOD.
d) Break of TL does not mean it is reversal, but only that the trend is changing. So on the break of TL switch to higher TF, to get the bigger picture & also to lower TF to see whether new trend is developing.
e) Also, if the higher TF TL is broken on lower TF, then more often than not, there will be a pullback rally to the TL, to retest it.
That's all that comes to my mind right now....& I apologize if I've written things haphazardly, as I don't hv anything written down just posting what came to my mind.
-------------------------------------
hi Mr.sreedhar,
huge volume should be seen at the point -5 which gives the confirmation ....the volume spike literally indicates the trend reversal and a SAUCER like shape should be formed after point-5 in WW........but couldnt see that on ur charts.............any how good effort....keep moving...CHEERS!!!!!!!!!!!!!!!!!!:thumb:
hi Mr.sreedhar,
huge volume should be seen at the point -5 which gives the confirmation ....the volume spike literally indicates the trend reversal and a SAUCER like shape should be formed after point-5 in WW........but couldnt see that on ur charts.............any how good effort....keep moving...CHEERS!!!!!!!!!!!!!!!!!!:thumb:
--------------------------------------------------------------------
hi Mr. abhi,
yes u r right, the TL was NOT drawn correctly, actually i was in a hurry to post it, as what i have drawn is a COMMON SENSE TL not TOM DEMARKS TL...........missed the swing low.....any how later it became a useless TL as it was broken, and where as the smaller RED line is concerned it denotes the TOM DEMARKS TL , it signifies the most recent swing lows in an UPTREND. and for that it to be validated there is no need to form higher highs as its formed during an UPTREND....ACTUALLY I WAS MORE CONCERNED HERE ABOUT THE CONJUCTION OF TWO TLs which according to DEMARK was an significant SIGNALLING POINT.........any how need to wait till markets are opened till monday, to confirm its trend............thanx for sharing.........CHEERS!!!!!!!!!!!!!!!!!!!!!!!!!:thumb:-------------------MR
hi Mr. abhi,
yes u r right, the TL was NOT drawn correctly, actually i was in a hurry to post it, as what i have drawn is a COMMON SENSE TL not TOM DEMARKS TL...........missed the swing low.....any how later it became a useless TL as it was broken, and where as the smaller RED line is concerned it denotes the TOM DEMARKS TL , it signifies the most recent swing lows in an UPTREND. and for that it to be validated there is no need to form higher highs as its formed during an UPTREND....ACTUALLY I WAS MORE CONCERNED HERE ABOUT THE CONJUCTION OF TWO TLs which according to DEMARK was an significant SIGNALLING POINT.........any how need to wait till markets are opened till monday, to confirm its trend............thanx for sharing.........CHEERS!!!!!!!!!!!!!!!!!!!!!!!!!:thumb:-------------------MR
- Status
Similar threads
-
Paper Trade for Commodities - Crude Oil, Natural Gas, Nickel and Zinc
- Started by prakaash.22282
- Replies: 6
-
International forex, commodities and indexes personal view and trade
- Started by tradertrader
- Replies: 40
-
-
Sonic R system on Commodities (Courtesy to Technical Trader MT4, zabeen2004)
- Started by rpsvinod
- Replies: 18
-