trade commodities in a simple way

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Re: trade commodities in a simple wayr

... I have told you what kind tools I am using. Even I told you if you download mt4 then I give you pivot point support resistance file. .....I have gone through most educative threads here...

Thanks for your advice Manish. I will look forward to your support/suggestions

 

[MANISH_DAMANI]

trading before 5pm is useless, commodities move only after LME opens......
all the international charts are in USD and in different quantities like 'oz' etc.......so we have to multiply by Ex. rate x grams/oz etc...

Lme prices impact basically on base metals.Lme market is opened before our market. There is two reason for volatility after 5 pm one our currencey market closed and second U.S. data are released after 5 pm. Metals could show move in day time specially release of inventory of LME and Sanghai in day time. So you can see movement in copper in day time. Crude has impact on U.S data and geopolitical tensions. And nymex and comex working hrs is more than 23 hrs. Due to which you see gapup or gap down opening.

 

[MANISH_DAMANI]

Re: trade commodities in a simple wayr

Sorry for misconception. For this contact me in yahoo Id [email protected]. So that I practically explain you what I know.

 

[MANISH_DAMANI]

Crude has made bearish gartley in 4 hr chart of comex . One can sell with stoploss $89 positional for the target of $86 or more . Keep trailling losses.http://i.imgur.com/ISFUh.gif

revise stoploss to $90 as pattern still intact sooner or it could work. If breach $ 90 pattern finally fails.

 

[gurmy.]

GM friends

lead update

sl for long trade which opened at 121.75 is below 125.60

update on copper

today buy above 449.1,which is unlikely,as all commodities are in a corection

thanks

 

[TraderRavi]

revise stoploss to $90 as pattern still intact sooner or it could work. If breach $ 90 pattern finally fails.

broken 90 dollar.....

 

[MANISH_DAMANI]

Yes I know its broken yesterday night. lets see as it trading near to it from yesterday.Small fall as per chart expected. As extreme overbought in 5 hr chart. In hourly chart also. Lets see but pattern fails once. 1-2 $ fall possible anytime.

 

[TraderRavi]

Yes I know its broken yesterday night. lets see as it trading near to it from yesterday.Small fall as per chart expected. As extreme overbought in 5 hr chart. In hourly chart also. Lets see but pattern fails once. 1-2 $ fall possible anytime.

wat is your target ?......around 4900 ?

 

[MANISH_DAMANI]

wat is your target ?......around 4900 ?

Ya it could come but I am unable to give my view in Indian context as my Mcx is not subscribed right now. But it could come within 2 days below upto $88 but I suggest you not to short because macd crossover in weakly chart is happening and ichimoku chikau span also suggestin some more rise in 2 weaks so use dip for buy. If you get near $87.If so happen then take correct decision on your wisdom.Because some contradiction in daily and weakly chart.

 

[gurmy.]

GM friends

lead update

sl for long trade which opened at 121.75 is below 125.80

taking short position below 125.60

update on copper

today buy above 446.5,which is unlikely,as all commodities are in a correction

thanks