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

[uttamkamlesh]

Its my first try to post a chart, I think crude is following a channel nicely.

Yellow dotted line is Channel.
Purple line is Weekly BRL suggested by Uttam sir.

good going...keep working!...

 

[tempest]

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Hi Kamlesh,

Although old to TJ , have recently gone thru your thread properly and it is fascinating to say the least.
Some queries. Do you still follow UMS (selling) ?
Is the above Daily UCOBANK as per the setup?

Doesn't UMS setup form a part of Bullish WW ( in the making) before point 5 is made ? Hence we short at point 4 and await further confirmation if a WW is going to form with point 5 ( possible TP for UMS)

Anyway big thanks for all the sharing :thumb:

 

[uttamkamlesh]

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Hi Kamlesh,

Although old to TJ , have recently gone thru your thread properly and it is fascinating to say the least.
Some queries. Do you still follow UMS (selling) ?
Is the above Daily UCOBANK as per the setup?

Doesn't UMS setup form a part of Bullish WW ( in the making) before point 5 is made ? Hence we short at point 4 and await further confirmation if a WW is going to form with point 5 ( possible TP for UMS)

Anyway big thanks for all the sharing :thumb:

1. yes! my best tool is UMS...
2. UCO bank set up qualifies for UMS but tomorrow if CRR cut or interest rate decreases then may be all banks would breakout...so take position tomorrow...
3. Your 'Divergence' on the chart is incorrect...don't ask me why immediately...first work yourself..if still unable to get it ... i 'll help.
4. Regarding WW query...yes WW may form...may not form...later has higher probability as per my experience...
5. We short at 'point 4' due to UMS set-up not in anticipation of WW set up....No trade should be taken as per WW unless set-up is completely ready....
6. Also, note that possible WW would be a Bullish one....but UMS is betting on downtrend...
7. Target for UMS would be LL...if LL is breached then only a possible WW may form.

 

[tempest]

1. yes! my best tool is UMS...
2. UCO bank set up qualifies for UMS but tomorrow if CRR cut or interest rate decreases then may be all banks would breakout...so take position tomorrow...
3. Your 'Divergence' on the chart is incorrect...don't ask me why immediately...first work yourself..if still unable to get it ... i 'll help.
4. Regarding WW query...yes WW may form...may not form...later has higher probability as per my experience...
5. We short at 'point 4' due to UMS set-up not in anticipation of WW set up....No trade should be taken as per WW unless set-up is completely ready....
6. Also, note that possible WW would be a Bullish one....but UMS is betting on downtrend...
7. Target for UMS would be LL...if LL is breached then only a possible WW may form.

Thanks for the quick revert.

Please let me know about the divergence cause that is something I'd like to iron out.

Yes I realize about UMS, I was just wondering if you saw that if UMS makes a new low we generally are 3/4ths there to a Bullish WW formation. I do/would not mix the two set ups for trading. just an observation.

 

[manickamtup]

Hi, Am new one for trading. Am doing MCX . Kindly give some idea for proper entry and exit.

 

[adityasaraf007]

Crude 240min Update:

I expected a spike to go below the Magenta Trendline and then this Upmove... But markets always have its own way..... Otherwise, everything else it pretty much on expected lines..... We now also have a good 1-2-3 formation as well.... I expect a clean move to the Lime Dotted TL.... Let's watch and enjoy....

 

[anilnegi]

I would like to thank kamlesh bhai for this wonderful thread :thumb::thumb::thumb::thumb: and also TP for guiding me to this thread, there are many many thread in TJ where trader shows their skill buy saying what to buy /sell and how much etc. but not why ?????, which kamlesh bhai define in a very simplistic way, i would also like to thanks other great people present in this thread SG, Aditya, Mrafi and others(sorry if forgot some imp name), keep these good work bros.

anil negi

 

[adityasaraf007]

Nifty Spot 60min Symmetric Triangle:

Didn't know where to post it.... Hence, posted it more close to home....

Looks like 5500 is well on the cards.... It broke the Upper Trendline with a strong Gap and gave a retracement throughout the day....

 

[adityasaraf007]

INFY Weekly:

Doesn't require any elaborate description.... Even UMB is applicable in this case...

However, ~1900 is a better valuation from Long Term point of view....

 

[sana]

Hi,
Can we sell Ranbaxy Fut. at this level as it is touching the trend line for Tgt of 475.