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

[smaharshi]

Minifty 5min WW Update:

Red one worked out pretty well.... Yellow one did play it's part.... But couldn't reach the target.... It played out almost as per my imagination....

Aditya sir, In red WW point 5 did not achieved , then how one can trade this..

 

[murthyavr]

Minifty 5min WW Update:

Red one worked out pretty well.... Yellow one did play it's part.... But couldn't reach the target.... It played out almost as per my imagination....

Technically, if the 4-5 leg crosses point 3, that may be called a WW (with volume
confirmation etc..) - but in such cases where the price doesn't touch the 1-3 line:

1. Where would you enter into the trade?

2. Where would you place the stop-loss?

3. Perhaps the SL has to be placed at the extreme side of the sweet zone,
what about RR in such cases?

How do you feel about such WWs, Aditya? Aren't they too difficult to trade
in reality?

 

[adityasaraf007]

Aditya sir, In red WW point 5 did not achieved , then how one can trade this..

Sunil ji... Am I still a stranger for you... If not, then, please drop that 'Sir'....

As far as trading this one is concerned.... Overall trend being down and this being a very small TF of 5min.... One shouldn't trade it... I just prefer to keep a note of it.... In case if I see it is being played out, I am out of my Short trades....

However, if one wants to take this trade, one can always use other techniques - Pivots, S/R, Inside Bars, etc.... But this becomes clear only after it has played out and hence in most of the cases gives a rosy picture....

As far as validity of this WW is concerned... it's very much a valid WW since point 5 did go below point 3....

 

[adityasaraf007]

Technically, if the 4-5 leg crosses point 3, that may be called a WW (with volume
confirmation etc..) - but in such cases where the price doesn't touch the 1-3 line:

1. Where would you enter into the trade?

2. Where would you place the stop-loss?

3. Perhaps the SL has to be placed at the extreme side of the sweet zone,
what about RR in such cases?

How do you feel about such WWs, Aditya? Aren't they too difficult to trade
in reality?

Yes Murthy ji... they are a little tricky... and it becomes clear only after it has played out and gives a rosy picture at the End of the day.... Also have a look at the above reply to Sunil ji...

 

[timepass]

Somewhere in this thread, Uttamkamlesh has referred to "imaginary point 5" being included to complete the WW.

 

[adityasaraf007]

Somewhere in this thread, Uttamkamlesh has referred to "imaginary point 5" being included to complete the WW.

As far as I remember, the imaginary point was "Point 1"...

 

[timepass]

As far as I remember, the imaginary point was "Point 1"...

Right, as mentioned by Bill Woolfe on pages 10 & 28. But Kamlesh had referred to imaginary point 5 in reference to some nifty chart in this thread.

 

[adityasaraf007]

Right, as mentioned by Bill Woolfe on pages 10 & 28. But Kamlesh had referred to imaginary point 5 in reference to some nifty chart in this thread.

BTW, we have another acronym.... AFAIR (As Far As I Remember)....

 

[smaharshi]

Is it a valid one...

Sunil maharshi

 

[timepass]

There's a problem searching for text in a lot of Kamlesh's posts, because he has this habit of writing comments in the chart itself