My silver trades....!

I have recently started trading silver on intraday basis.

This is just a log on some of the trades i take and the subsequent analysis of the same. Its for pure documentation purposes only and is not a recommendation for taking trades.

Methodology

Capital :
2.4 Lakh

Methodology :
Trading TF : 15 min

Indicators used :
SMA(close,3): Representing the short term trend
EMA(close,13) : representing the mid term trend
EMA(close,39) : representing the long term trend

Stochk (14,3) : for direction confirmation

MACD(9,34) and signal (9) : for second confirmation of momentum

ADX (9) : for trend strength


Brokerage : Rs 9 per lot per trade plus taxes.
Lot size : 30 Kg
Nos of lots : 5 lots

W00t w00t , once again learning threads from Linkon

Overview of the trend...!

Monthly trend :


Weekly trend :


Daily Trend :


4 hourly trend :

15 min trend :

The trend channel in the monthly & weekly time frame shows a very strong upwards momentum. Both the lines have been respected several times and hence we can expect the all time high to be broken within the next few months.

Daily TF shows a consolidation pattern for the last few days and dips are bought very aggressively. there is buying support in the 16.600 region and supply trendline has been tested 4 times and is presently at 17.750 zone.

The 4 hr time frame reduces the immediate zone to 17.020 to 17.700. The supply zone remains roughly the same but buying seems to happen even before the 17.000 mark is broken. MACD is very flat signaling a major move about to happen. A very big dip has just been bought and this means bulls are not willing to let go of the 17.000 level so easily. while the bears are not going to let the 17.700 mark break easily.

Hi Linkon, goot to see you back in action.
slightly off the topic - what made u shift from Nifty F&O to Comds ? I am sure you have strong reason to select Silver trading.
Plz share your thoughts on this - either in this thread or somewhere else.

I share your views on the bullish long to intermediate trend of Silver. Generally, Silver follows Gold quite closely. And with weakness in dollar, the trend is only going to get stronger. But IMO, any strength in Dollar can be a warning sign for comds trend.
Even if dollar's fundamentals are weak, but most of the countries of world would like to see strong dollar till we have found any other alternative.
I am long on silver/gold in my positional portfolio.

Happy Trading

I still trade nifty F&O actively. Silver was introduced to me as a challenge by one of my mentors and I love the volatility and the way it moves. I am very new to this and have a lot to learn from you.

I see very few active threads on comds here, so i thought of starting one with the hope of getting comments from veterans like yourself...
:clap:

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I use Chartsdata to extract data from odin to amibroker...
And for long term charts, i use www.netdania.com