My System - My trades.

[Vipul_84]

I could dare start Crude Oil trading (just 1 lot) by your nice method Sir :thumb:

 

[Vipul_84]

Varun Sir, I am very new to MCX. I am asking some basic questions here.
How you compare volume of Crude with Nifty Futures? I see as too LESS to have good liquidity. Is scaling up possible in Crude? ( I am thinking too much after my first trade in profit :rofl: )

 

[varunkochhar]

Vipul ji scaling up is not a big issue. You can trade upto 100 lots too as liquidity is there. But i suggest adds instead of all in approach.

 

[moolan]

Varunji,

What is the significance of Negative Volume in Obv.

 

[varunkochhar]

Negative (below zero) is a very powerfull signal. Till it is below zero, one should sell all rallies. It means the market makers are short on that instrument. But pls ascertain that your data is correct. Just saw Vijkris ji's post on crude in which his charts are showing negative OBV which is not true.

 

[Vipul_84]

Out at 3340. Wanted to have first trade in profits. This is dedicated to you Varun sir

Varun Sir, please do not be disheartened. We highly value your GREAT work! This is my first trade on Crude Long 3320 SL 3310

 

[Vipul_84]

Looking at charts again for a fresh trade

 

[neophyte16]

Just saw the Nifty charts too. I forsee a sell off from tomorrow in Nifty as well. (SL for Nifty approx.9300 and for BN 21750) Agood 3-5% fall can come if SL is not breached.

Varun ji,
Greetings!!
Would like to understand the reasoning behind the same. From my understanding, the OBV values have reduced drastically from the PDC but the extent of price movement is very low. Therefore, it is expected there will be a downward movement. But how did u come across with the SL values and %age move expected. Please clarify.

Cheers,

 

[varunkochhar]

Neophyte ji just expecting a pullback to 9000 odd levels hence written 3% and about 21000 in BN. But donot take these as targets. I guess i just got carried away.

 

[varunkochhar]

If price attracts volumes then there is no relevance of PDC lines or OBV at all. The reason OBV is powerull is that it is a leading indicator, not a lagging one.