Dear all,
I am completely new in commodities and just starting to learn with this post.
Its not fair at my end jumping and asking questions without learning anything on this, but still I hope u understand.....
My question is Will technicals work on commodities intraday and to what extent.
Stocks: In intraday context, when it comes to stocks, any individual stock has its own path and also is influenced to an extent by broad market, say nifty movement. So a trader can follow TA on stock price chart along with nifty and make trading decisions as per TA.
Commodities: when it comes to commodities lets take example of Gold.
Now what factors will influence gold price. Gold is traded internationally. So in India will gold move just parallel to International market? If that's the case why follow technicals in Our charts? And second point I see there are many contracts like gold mini, major etc. If we can follow TA on our gold futures chats then which contract should we follow? If I follow a simple MA crossover strategy, it may give a buy in gold mini but there can be no ma cross over in other contract of gold. How to overcome this.
And if I say TA works 70% in stocks what percent you give for TA in commodities.
thank you.
surya.
I am completely new in commodities and just starting to learn with this post.
Its not fair at my end jumping and asking questions without learning anything on this, but still I hope u understand.....
My question is Will technicals work on commodities intraday and to what extent.
Stocks: In intraday context, when it comes to stocks, any individual stock has its own path and also is influenced to an extent by broad market, say nifty movement. So a trader can follow TA on stock price chart along with nifty and make trading decisions as per TA.
Commodities: when it comes to commodities lets take example of Gold.
Now what factors will influence gold price. Gold is traded internationally. So in India will gold move just parallel to International market? If that's the case why follow technicals in Our charts? And second point I see there are many contracts like gold mini, major etc. If we can follow TA on our gold futures chats then which contract should we follow? If I follow a simple MA crossover strategy, it may give a buy in gold mini but there can be no ma cross over in other contract of gold. How to overcome this.
And if I say TA works 70% in stocks what percent you give for TA in commodities.
thank you.
surya.