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

[vikrit]

@ vikrit

I have taken the trade at point 1 you have mentioned. (hence two buy on the chart)

at second point I have taken a trade thinking that my assertion on point 5 was not proper at point 1 (volume was almost same and the price was under 1-3 line)

Taken two trades on belief that it was ww, and exited on belief that it might not be ww:(

thanks for quick reply. ok, so you was not sure whether it was a WW!!. i am surprised and getting more confuse abt ww, b/c as per old posts of this thread, you are following it since long, and posted many WW which confirmed by uttam.

@WW EXPERTS what was wrong with this to be a WW?, and if it was a WW, what should SL point, here high vol signaled exit, otherwise price went way down?


.

 

[adityasaraf007]

Crude 240min:

In this chart we get a combination of WW, Wedge, Trendlines, Trend, etc... If it pans out as expected, it would be copybook stuff....

 

[adityasaraf007]

thanks for quick reply. ok, so you was not sure whether it was a WW!!. i am surprised and getting more confuse abt ww, b/c as per old posts of this thread, you are following it since long, and posted many WW which confirmed by uttam.

@WW EXPERTS what was wrong with this to be a WW?, and if it was a WW, what should SL point, here high vol signaled exit, otherwise price went way down?


.

@Vikrit:

I am not an expert, but can share my experience with WWs for sure... If you are beginning out with this pattern, it would be prudent that you concentrate on WW which is easily discernible for a naked eye.... Don't spare your time for the ones for which you would have to strain your eyes to confirm if it is a WW or not (unless of course, there are other confluences)....

The one which Kid posted on Crude 5min was a WW.... but it reversed from point 4.... Kamleshji has always advocated to be cautious when price reaches around the 2-4 Trendline and then around point 4.... There are chances of reversal around these areas....

Regarding SL.... the thing that I have observed with WW is that... if WW has to play out, you don't need a SL... ie; keep your SL around the pivots and you would be good to go.... If it hits you SL, chances are more that WW won't play out.... Otherwise, it would start moving in your direction from the time you enter the trade....

@poortrader:

If you want to look for volume confirmation, please confirm it with your Trading Platform.... The volumes shown in GCI is not real....

 

[adityasaraf007]

Nifty Spot:

Get ready for a blast..... Trade with an Open mind on Monday and Tuesday...

 

[HARIVEL]

Sir,
Can u explain NR4,NR7&IB. Indicating Breakdown?

 

[timepass]

Sir,
Can u explain NR4,NR7&IB. Indicating Breakdown?

Trading NR7 Setup.

This thread will give you the basic info about the NR7 (Narrow Range 7) and the idea of NR4, IB (Inside Bar) etc.

 

[vikrit]

Crude 240min:

In this chart we get a combination of WW, Wedge, Trendlines, Trend, etc... If it pans out as expected, it would be copybook stuff....

aditya, if you encounter two contradictory WW for same scrip, in different tf, for ex- one ww in 60min is bearish and one ww in daily bullish, then which one to follow???

(p.s. - its not hypothetical, will show examples, right now not able to find charts, in which i have seen)

 

[adityasaraf007]

aditya, if you encounter two contradictory WW for same scrip, in different tf, for ex- one ww in 60min is bearish and one ww in daily bullish, then which one to follow???

(p.s. - its not hypothetical, will show examples, right now not able to find charts, in which i have seen)

Very much possible.... and the targets for both the WWs might get fulfilled....

Let Kamleshji handle this googly of yours..... He understands the psychology behind this pattern....

In the meantime, let me also search for this peculiarity on charts....

 

[adityasaraf007]

Sir,
Can u explain NR4,NR7&IB. Indicating Breakdown?

I had said, "Trade with an Open mind".... So, don't carry any bias on Mon & Tues.... Trade what you see.....

If I have to provide some levels, then that would be 5265-5305-5340-5380 on Nifty Future..... Be cautious around these levels.... We should see a big move starting/halting around these..... It might even give a move within this range....

Just stay calm and exit if it hits your Stops... Don't remain in the trade when market is going against you....

And be careful with False Breakouts.... ie; price crossing these levels and reversing without sustaining for 5-10mins.... In case of False-breakouts, the move is going to be vigorous.....

Another thing is Gaps... We might get a Gap opening around these levels and market might just keep on moving in the direction of the Gap without giving any sort of Retest....

These are some of the things which traders should be careful... A gap is more likely also because we have had an extended weekend....

But the mantra is: Trade with an Open mind..... and apply all those words of wisdom which you have heard/read but never applied.....

 

[timepass]

I had said, "Trade with an Open mind".... So, don't carry any bias on Mon & Tues.... Trade what you see.....

If I have to provide some levels, then that would be 5265-5305-5340-5380 on Nifty Future..... Be cautious around these levels.... We should see a big move starting/halting around these..... It might even give a move within this range....

Just stay calm and exit if it hits your Stops... Don't remain in the trade when market is going against you....

And be careful with False Breakouts.... ie; price crossing these levels and reversing without sustaining for 5-10mins.... In case of False-breakouts, the move is going to be vigorous.....

Another thing is Gaps... We might get a Gap opening around these levels and market might just keep on moving in the direction of the Gap without giving any sort of Retest....

These are some of the things which traders should be careful... A gap is more likely also because we have had an extended weekend....

But the mantra is: Trade with an Open mind..... and apply all those words of wisdom which you have heard/read but never applied.....

Either way, the rupee seems set for a fall on Monday morning. I think there's a good trade in there, either in the pair or an option of it.