A view on commodities

[TheStudent]

Dear meat444

Could you please tell me where do you access the back adjusted Daily and Weekly charts.

In "Investing" website, I see only the last 100 bars.

But in the example charts that you have posted, I see charts from 2008.

Thanking you for your advice.

Thanks
Venkat

 

[meet444]

Dear meat444

Could you please tell me where do you access the back adjusted Daily and Weekly charts.

In "Investing" website, I see only the last 100 bars.

But in the example charts that you have posted, I see charts from 2008.



Thanking you for your advice.

Thanks
Venkat

It's available in interactive chart section

 

[meet444]

Gold showing good technical bounce
Breakouts in coming days is possible.
For now It's buy at current lvl.
Will post some charts soon

 

[candle]

 

[copperman]

Hi Catch, Silver did trade below 38,660 which was an opportunity to go long. Sometimes, we have to enter at what we find is a 'fair price' and accept a drawdown, because if sentiments are bullish, the opportunity to enter later will not be available in case of a price spike. Suggest never paste ledger report. Not required.

Entry level, is to first arrive at a fair price considering the previous close, USDINR rate and a acceptable rate of discount. Glad that you had a good scalp. :thumb::thumb::thumb:

The tick chart is attached for reference of price traded.

Hi, Going through the posts.Excellent for a newbie like me.DSM, Can u please let me know the discount ( what it is) and it's rough derivation.Thanks.

 

[DSM]

Thanks Copperman,

I USED to trade commodities at open considering the previous close, the current % move in price of the commodity and the change in the USDINR rate. Applying the formula, one would get a fair idea of opening price.

For e.g if Crude closed at XYZ value on MCX, the fair price at open would be :

XYZ*% Change in price of commodity since close on Intl. Mkts*% change in price of USDINR

We can assume this to be the open price. With this 'fair' opening value in mind, we need to watch the open. If it was at a discount to fair value, or premium to fair value, it would represent an opportunity to go long/short to make a few quick ticks (considering the opening chart pattern. i.e looking for reversal and price to move in the expected direction of 'fair' value.

This is the idea behind the trade. However, my focus is to trade derivatives on NSE and usually trade on MCX later in the day once the market has stabilized, so am avoiding trading commodities atleast around LME open in the noon..... Having said that, I trade commodities around US market open and around 9PM for big volatile moves and also based on important news and events, at times I take position in commodities earlier.

News to watch :

NG : A massive blizzard in the US East Coast is expected to bringing more than 2ft of snow. And this can increase demand for NG. I have open long positions in NG. Gap up on Monday? Hope so. :lol: Let's see. It was worth taking a position.

Copper : It's being reported that an unknown company or country is hoarding about half the copper available in warehouses of LME, to squeeze the shorts. We need to follow Copper charts closely to see if it presents opportunity for a volatile move.

In short, as a trader and strategy to trade, is evolving..... I hope this answers your question.....

Hi, Going through the posts.Excellent for a newbie like me.DSM, Can u please let me know the discount ( what it is) and it's rough derivation.Thanks.

 

[copperman]

Thanks Copperman,

I USED to trade commodities at open considering the previous close, the current % move in price of the commodity and the change in the USDINR rate. Applying the formula, one would get a fair idea of opening price.

For e.g if Crude closed at XYZ value on MCX, the fair price at open would be :

XYZ*% Change in price of commodity since close on Intl. Mkts*% change in price of USDINR

We can assume this to be the open price. With this 'fair' opening value in mind, we need to watch the open. If it was at a discount to fair value, or premium to fair value, it would represent an opportunity to go long/short to make a few quick ticks (considering the opening chart pattern. i.e looking for reversal and price to move in the expected direction of 'fair' value.

This is the idea behind the trade. However, my focus is to trade derivatives on NSE and usually trade on MCX later in the day once the market has stabilized, so am avoiding trading commodities atleast around LME open in the noon..... Having said that, I trade commodities around US market open and around 9PM for big volatile moves and also based on important news and events, at times I take position in commodities earlier.

News to watch :

NG : A massive blizzard in the US East Coast is expected to bringing more than 2ft of snow. And this can increase demand for NG. I have open long positions in NG. Gap up on Monday? Hope so. :lol: Let's see. It was worth taking a position.

Copper : It's being reported that an unknown company or country is hoarding about half the copper available in warehouses of LME, to squeeze the shorts. We need to follow Copper charts closely to see if it presents opportunity for a volatile move.

In short, as a trader and strategy to trade, is evolving..... I hope this answers your

 

[copperman]

Thanks Copperman,

I USED to trade commodities at open considering the previous close, the current % move in price of the commodity and the change in the USDINR rate. Applying the formula, one would get a fair idea of opening price.

For e.g if Crude closed at XYZ value on MCX, the fair price at open would be :

XYZ*% Change in price of commodity since close on Intl. Mkts*% change in price of USDINR

We can assume this to be the open price. With this 'fair' opening value in mind, we need to watch the open. If it was at a discount to fair value, or premium to fair value, it would represent an opportunity to go long/short to make a few quick ticks (considering the opening chart pattern. i.e looking for reversal and price to move in the expected direction of 'fair' value.

This is the idea behind the trade. However, my focus is to trade derivatives on NSE and usually trade on MCX later in the day once the market has stabilized, so am avoiding trading commodities atleast around LME open in the noon..... Having said that, I trade commodities around US market open and around 9PM for big volatile moves and also based on important news and events, at times I take position in commodities earlier.

News to watch :

NG : A massive blizzard in the US East Coast is expected to bringing more than 2ft of snow. And this can increase demand for NG. I have open long positions in NG. Gap up on Monday? Hope so. :lol: Let's see. It was worth taking a position.

Copper : It's being reported that an unknown company or country is hoarding about half the copper available in warehouses of LME, to squeeze the shorts. We need to follow Copper charts closely to see if it presents opportunity for a volatile move.

In short, as a trader and strategy to trade, is evolving..... I hope this answers your

Thanks

Doubt please..if am not disturbing u..
Would be great with an example.
1. Closing price of max....... Got it
2. Price of intl mkt ... Means intl mkt price at the time of close of mcx and closing price of intl mkt??
3 % change of usdinr means price at the time of closing of mcx and at the time of opening of mcx next day? for arriving at the % diff....usdinr)

 

[DSM]

Copperman,

1. O.k
2. Yes
3. Yes

Having said the above, though this formula can be used to derive 'fair' opening prices for a commodity, I am not trading commodities at open.... suggest you check out for Crude or NG tomorrow and post your calculations.

Thanks

Doubt please..if am not disturbing u..
Would be great with an example.
1. Closing price of max....... Got it
2. Price of intl mkt ... Means intl mkt price at the time of close of mcx and closing price of intl mkt??
3 % change of usdinr means price at the time of closing of mcx and at the time of opening of mcx next day? for arriving at the % diff....usdinr)

 

[copperman]

Copperman,

1. O.k
2. Yes
3. Yes

Having said the above, though this formula can be used to derive 'fair' opening prices for a commodity, I am not trading commodities at open.... suggest you check out for Crude or NG tomorrow and post your calculations.


Certainly.