Zinc Thread

[Tradejack]

dear kieslwar please give latest chart and suggest strategy for today..

 

[Klewtar]

The nickname is Klewtar or my real name: Steve.

I use Sharekhan's Trade Tiger for charting.

Zinc has gone down further today, I think it may start reversing tomorrow or next week.

 

[Tradejack]

sorry steve i misspelled ur nick name,plz give level where we shd enter for long in zinc.

 

[Klewtar]

I entered a long when Zinc was 99.85 on a March contract. Red line of KST was at 0.13 and red line of RSI was at 48.9 on a 30 minute time frame.

Weakness in Copper weakened Zinc to 99.35. While Zinc is back to 99.5, I'm holding my long to test the system (will exit if red line of KST reaches -0.08 or RSI reaches 44 on 30 minute time frame.)

I may adapt my new method to enter a long when the red line of RSI is at 56 and enter a short when red line of RSI is at 44 on a 30 minute time frame. If I were to set RSI readings at at time frame of 60 minutes, I may enter or exit at 50.

 

[Klewtar]

I exited my long at 98.8 on a March contract and went short since RSI's red line crossed 44 with the 30 minute interval.

Edit: I exited the short move since I'm not comfortable with the parameters/using RSI.

I am now thinking of using KST on a 60 minute interval with a margin of 0.18 (enter long when the red line is at 0.18 or enter short at -0.18)

While today has been a day of losses, I have learned:
Step 1 - Wait for EOD 315 strategy to indicate a long or short opportunity
Step 2 - Use 60 minute time frame and KST to enter long when red line is more than 0.18 or enter short if the red line reads as below -0.18
Step 3 - Exit trend when red line of KST reads as 0.00
Optional Step 4 - Repeat step 2 if EMA 315 does not indicate a trend reversal.

 

[Klewtar]

Apparently for KST, I was using CCI Arrow's system of generating buy and sell signals when the 0 line is crossed.

 

[anuragmunjal]

trade the trend..

 

[trade1111]

trade the trend..

what IS the current trend now..bullish or bearish..please?

 

[anuragmunjal]

what IS the current trend now..bullish or bearish..please?

10% fall in a week.... difficult to say whether the trend is bullish or bearish...

 

[Klewtar]

I'd like to identify the trend before I trade. When KST or CCI breaches 0 on 60 - 90 minute charts, it indicates positive or negative momentum.

The trend for Zinc has been bearish, most probably by this week, it may swing back to a bullish trend.