NG & Crude

[PreSap]

what a fall in crude ..

anybody catches this down fall movement using SonicR's???

Yes, I caught it too, based on the Red Candle, after the green one.
But made a silly mistake with the SL order and got chucked out after making only 10 points

 

[zabeen2004]

300+ levels are pending for pullback but I dont think it will test 300 levels in this series. It sounds like its going to continue its downtrend but we cannot confirm it until it closes constantly below 284 levels. For the time being NG and Crude both sell on rallies which might continue for few more days...

Nobody has believed this by closing of yesterday after you updated and even till today morning..(its including me as well)... but it happened in the evening session. I thank you being a valuable contributor to this thread....and expect more from you in the upcoming days...

 

[PreSap]

Nobody has believed this by closing of yesterday after you updated and even till today morning..(its including me as well)... but it happened in the evening session. I thank you being a valuable contributor to this thread....and expect more from you in the upcoming days...

Thanks to TT MT4 as well for opening up this thread with constant support!
And to many other boarders who also keep adding info and details. :thumb:

I think I am starting to spot the trades slightly better now.

 

[zabeen2004]

Thanks to TT MT4 as well for opening up this thread with constant support!
And to many other boarders who also keep adding info and details. :thumb:

I think I am starting to spot the trades slightly better now.

Keep practicing and feel free to post screenshots if any doubts. You will really feel the power of charts with this trading system very soon. ALL the best.

 

[marimuthu13]

Yes, I caught it too, based on the Red Candle, after the green one.
But made a silly mistake with the SL order and got chucked out after making only 10 points

hi

red candle after green candle,,is this part of SonicR method explained by TTMT4
and also i haven't seen such setup (in chart posted by TTM4, previous to your post)

 

[PreSap]

hi

red candle after green candle,,is this part of SonicR method explained by TTMT4
and also i haven't seen such setup (in chart posted by TTM4, previous to your post)

Hi MariMathu,

The trend was downwards when the inventory report came in (which showed fundamentally that Supply was more). Other traders (Tamil Trader) have always advised not to go based on fundamentals (EDIT: Other traders (Tamil Trader) have always advised not to go based on fundamentals ALONE as tech analysis must be used). So I waited for sometime and saw the green candle but kept waiting. The next candle was a red volume candle and it was below the EMA (I think you have also pointed out trades when candles close below EMA and trend line :thumb: ). So
1> Overall trend was down
2> Red candle with volume
3> Inventory report

Unfortunately while placing my SL order, I had entered a RL order by mistake and my trade was closed after only 10 points.

I have attached the screenshot below (somehow the time on the chart does not match the actual time):

 

[Tamil trader]

Hi MariMathu,

The trend was downwards when the inventory report came in (which showed fundamentally that Supply was more). Other traders (Tamil Trader) have always advised not to go based on fundamentals.

I sharply sold at 6330 on 9 PM yesterday before receiving the news. because it was trading below my trend reversal point 6355 yesterday. So i was ready with my selling order at 8.59 PM

So i got 60 points in that fall. Still i am holding short position. Today MCX Crude is expected to open gap down 40 points due to fall in nymex prices

 

[PreSap]

I sharply sold at 6330 on 9 PM yesterday before receiving the news. because it was trading below my trend reversal point 6355 yesterday. So i was ready with my selling order at 8.59 PM

So i got 60 points in that fall. Still i am holding short position. Today MCX Crude is expected to open gap down 40 points due to fall in nymex prices

Hi I actually meant to say TT had mentioned not to make trades based on fundamentals "alone". I had missed out on the word alone,
So I waited for the technicals to confirm rather than going only on the fundamental news (Credit to Tamil Trader for repeating this continuously).

 

[marimuthu13]

Hi MariMathu,

The trend was downwards when the inventory report came in (which showed fundamentally that Supply was more). Other traders (Tamil Trader) have always advised not to go based on fundamentals. So I waited for sometime and saw the green candle but kept waiting. The next candle was a red volume candle and it was below the EMA (I think you have also pointed out trades when candles close below EMA and trend line :thumb: ). So
1> Overall trend was down
2> Red candle with volume
3> Inventory report

Unfortunately while placing my SL order, I had entered a RL order by mistake and my trade was closed after only 10 points.

thanks ji for your nice time and you have explained very well ..

hard luck forthis time (SL =RL mistake)

 

[zabeen2004]

Hi MariMathu,

The trend was downwards when the inventory report came in (which showed fundamentally that Supply was more). Other traders (Tamil Trader) have always advised not to go based on fundamentals (EDIT: Other traders (Tamil Trader) have always advised not to go based on fundamentals ALONE as tech analysis must be used). So I waited for sometime and saw the green candle but kept waiting. The next candle was a red volume candle and it was below the EMA (I think you have also pointed out trades when candles close below EMA and trend line :thumb: ). So
1> Overall trend was down
2> Red candle with volume
3> Inventory report

Unfortunately while placing my SL order, I had entered a RL order by mistake and my trade was closed after only 10 points.

I have attached the screenshot below (somehow the time on the chart does not match the actual time):

You have done well... It happens in some occasions even I too had similar situations but that's all part of experiences.. so nothing to worry you will get everything very soon....

Marimuthu,

This is similar to trading style one Scalp. There is more in this system than these three styles I mentioned. Which is combination of color candles I will explain them later as its Hard Scalping style and not an easy/suitable for everyone as it requires HIGH SPEED analysis and creates more emotion in trading. Its suitable for traders punching 10+ qts with RR ratio... Its instant Rich/Poor scenario....