Kahani - Charts ki Zubani :-) - Season II

FanaticTrader

Well-Known Member
#1
I know I am not good at starting new threads and then following them and keeping them up-to-date. In past I did try the same for few months and then was pulled into other things and :(

Now that I am into more comfortable position (work-wise) I can spend some quality time with wonderful forum of Traderji.

This thread is continuation of one of my earlier thread. My intent is to share the technical view of various financial instruments be it equities, forex, futures or commodities and at the same time seek guidance from seniors and other knowledgeable forum members.

I have learnt a lot from this forum and I genuinely believe it's payback time :)
 

FanaticTrader

Well-Known Member
#4
Natural Gas



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Natural Gas has given a breakdown from symmetrical triangle pattern on daily charts. On close analysis one finds that prices have given a breakdown from 5 point strong trend line which is also lower part of symmetrical triangle. After the breakdown the prices are again retesting the TL which imo gives a very good risk -reward trade setup. If we create shorts at current level (124.4) the target would be (as per pattern) 95.

CMP : 124.4
Height of Pattern = 141.6 - 112.3 = 29.3
Breakdown price = 123
Pattern Target = 123 - 29.3 = 93.7
Initial SL = High of the breakdown candle = 129.1
RRR = 1 : 4.5

Once we enter shorts and position moves in our favor we would trail the SL.
 

Piuvbn

Active Member
#5
I know I am not good at starting new threads and then following them and keeping them up-to-date. In past I did try the same for few months and then was pulled into other things and :(

Now that I am into more comfortable position (work-wise) I can spend some quality time with wonderful forum of Traderji.

This thread is continuation of one of my earlier thread. My intent is to share the technical view of various financial instruments be it equities, forex, futures or commodities and at the same time seek guidance from seniors and other knowledgeable forum members.

I have learnt a lot from this forum and I genuinely believe it's payback time :)
Pls make it as sharing time. At one time I was sort of emotional wreck,a kind member's kind words did wonder. This is how it should be. Some gentlemen are sharing their worth to Traderji. Pray you get more time to share your experience. Thanks. Partha Roy
 

FanaticTrader

Well-Known Member
#6
Natural Gas



Uploaded with ImageShack.us

Natural Gas has given a breakdown from symmetrical triangle pattern on daily charts. On close analysis one finds that prices have given a breakdown from 5 point strong trend line which is also lower part of symmetrical triangle. After the breakdown the prices are again retesting the TL which imo gives a very good risk -reward trade setup. If we create shorts at current level (124.4) the target would be (as per pattern) 95.

CMP : 124.4
Height of Pattern = 141.6 - 112.3 = 29.3
Breakdown price = 123
Pattern Target = 123 - 29.3 = 93.7
Initial SL = High of the breakdown candle = 129.1
RRR = 1 : 4.5

Once we enter shorts and position moves in our favor we would trail the SL.
Natural Gas was down over 3.5% in yesterdays' session @ MCX. Also the counter has formed Open=High candlestick formation which is another indicator of bearish signal. SL now moved to sloping trend line i.e. 125.9
 

FanaticTrader

Well-Known Member
#8
Natural Gas was down over 3.5% in yesterdays' session @ MCX. Also the counter has formed Open=High candlestick formation which is another indicator of bearish signal. SL now moved to sloping trend line i.e. 125.9
A very very strong breakdown in Natural Gas counter. The trailing SL now needs to be moved to 120
 

Piuvbn

Active Member
#9
Natural Gas was down over 3.5% in yesterdays' session @ MCX. Also the counter has formed Open=High candlestick formation which is another indicator of bearish signal. SL now moved to sloping trend line i.e. 125.9
Pls let me know the name of broker that you trade with. Thanks. Partha Roy
 

FanaticTrader

Well-Known Member
#10
Pls let me know the name of broker that you trade with. Thanks. Partha Roy
I trade with Edelweiss for both NF and MCX