How to trade Commodities - Gold, Silver, Crude Oil, Natural Gas

[uttamkamlesh]

Hi Kamlesh sir..As per your posts tried to check if the following was a okay kind of interpretation..and i think this could happen in the next week itself or probably 10 days...Just have a look and guide plz..

This is incorrect.
Actually what i do is Wolfe Wave pattern.
Google it out for yourself.


Kamlesh Uttam

 

[myamit]

I too went short. Good to see you here!


Kamlesh Uttam

Hi Kamlesh,

This is little contradicting to your post #30. Trendline kiss is there but there is no LL which you felt to give a miss in example posted at #30.

Am I missing something? I very well understand that there are no fixed rule for all situation but am curious if I'm missing something here.

Regards,

 

[uttamkamlesh]

Is this Inverted H & S ??? (on eod chart of nifty as on 16/09/2011)
Seniors Pls Guide.

Looks like to me too. But it will confirm itself very soon if NIFTY closes above 5170. Then Target goes to 5550 to 5600. Let's see how it unfolds.
Plz check neckline it asks some correction.

Kamlesh Uttam

 

[uttamkamlesh]

Hi Kamlesh,

This is little contradicting to your post #30. Trendline kiss is there but there is no LL which you felt to give a miss in example posted at #30.

Am I missing something? I very well understand that there are no fixed rule for all situation but am curious if I'm missing something here.

Regards,

Hi Amit!

No! you are not missing anything. This trade was not as per the system.

1. I was trading the news. RBI came as per market expectation.
There was nothing for the market to explode to the upside due to hawkish commentary. So limited upside.

2. It was Friday's second half and last hour. Traders rarely take home long positions on holidays at least in these volatile times.

3. I had SL just above resistance at 5136 and shorted at 5129. Risk was in total 7+3(brokerage). So Reward/Risk ratio made it attractive.


Kamlesh Uttam

 

[myamit]

Hi Amit!

No! you are not missing anything. This trade was not as per the system.

1. I was trading the news. RBI came as per market expectation.
There was nothing for the market to explode to the upside due to hawkish commentary. So limited upside.

2. It was Friday's second half and last hour. Traders rarely take home long positions on holidays at least in these volatile times.

3. I had SL just above resistance at 5136 and shorted at 5129. Risk was in total 7+3(brokerage). So Reward/Risk ratio made it attractive.


Kamlesh Uttam

Thank you, Kamlesh.
I really appreciate your frank & straight forward approach.

BTW, have you tried making an AFL for this setup? Back-testing such pattern based trading method will be real fun.

 

[KID_of_MARKET]

Looks like to me too. But it will confirm itself very soon if NIFTY closes above 5170. Then Target goes to 5550 to 5600. Let's see how it unfolds.
Plz check neckline it asks some correction.

Kamlesh Uttam

I can't understand statement abt neckline !!!(As I am kid in these concepts pls bare with me.)

 

[uttamkamlesh]

Guys! check out this chart of INFY...

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Reasons of Trade:

(a) HH-HL means uptrend established. LH-LL means downtrend established.
(b) BUY or SELL with Stoch crossover.

This week NIFTY has made bullish engulfing pattern. Now, let's wait for SELL signal.

Kamlesh Uttam

 

[uttamkamlesh]

Thank you, Kamlesh.
I really appreciate your frank & straight forward approach.

BTW, have you tried making an AFL for this setup? Back-testing such pattern based trading method will be real fun.

No dear! i am a simple chemical engineer, no programming expertise here.

Believe me This IDEA works just because it is supported by classical Dow Theory.

Kamlesh Uttam

 

[KID_of_MARKET]

Pls Guide Seniors !! :!
:sos::sos:

 

[uttamkamlesh]

I can't understand statement abt neckline !!!(As I am kid in these concepts pls bare with me.)

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