A view on commodities

[Galts Gulch]

Covered at 240.30..will enter again near about 238.50

High made 242.10 .And more to come :thumb:!!BRILLIANT work DMS and Galts Gulch!!:clap:Congrats !! [Can you believe , broker had given sell call !]
Will enter long again in any dip.3.9 may be the stop perhaps. Thanks a lot to both of you bros. Take care .

Brokers conveniently forget that the PA is the Driver and they are just a Chassis to carry traders ... :thumb:

 

[Galts Gulch]

NG seems to heading North stronger than yesterday ... My guess ... I'm just trying to crawl MCX ....

Weekly candle BLUE .... above 200 MA ....

Fourth attempt to Break Resistance on D TF ... MBL also turning North ... Check the next Resistance level ...

On 4H TF ... Second attempt to break 200 MA ...
Both RSI and TSL above MBL ... MBL turning strong North ...

On 1H TF ... Candles not breaking HL / LL ... Stabilizing above 200 MA ..

....

 

[Galts Gulch]

Even on 15M TF ... NG is unable to create LL ....

Might be to go Long again .... all over ...

 

[Catch22]

Entered long at 239.60 sl 236 Decided to enter before Europe opens.
Thanks for all your supports .Take care

 

[Galts Gulch]

Entered long at 239.60 sl 236 Decided to enter before Europe opens.
Thanks for all your supports .Take care

Just for my knowledge (on MCX) ...
What are the parameters / analysis for this 239.6 SL?
I should have had 239.07 ... today's Low ... as of now ...or
237.5 ... little lower than 200 MA

 

[DSM]

Just my view : I prefer for a range to form and to know the strength or the lack of it, before taking a position, unless there is big hitting funadamental news. (It does happen that on bullish/bearish news, the market can move up or down as per the news, but can move in the opposite direction, to take off weak hands. Hence, I prefer to enter the trade only after a trend is clear and established, which would mean taking a trade in the middle of the trend, or after retracement, and not before. Opportunities will always exist, so waiting out for now. My 2C.

 

[Catch22]

Just for my knowledge (on MCX) ...
What are the parameters / analysis for this 239.6 SL?
I should have had 239.07 ... today's Low ... as of now ...or
237.5 ... little lower than 200 MA

As I understand Support is at 236.7 and yesterdays low was 236.And as I wasn’t going to be at the terminal decided on a slightly bigger risk . ,Nymex NG was hovering around 3.91.hence decided to enter .And now have raised the sl to 239.8. Thanks for asking
It sort of feels like a 1st MB student questioned by a skilled surgeon!
You are very right regarding the stops .and DSM is right ,regarding waiting for the trend to establish.Thanks a lot.

 

[Catch22]

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[Catch22]

http://ir.eia.gov/ngs/ngs.html


I know a few brokers give a flashing report of the data at our portals ,Here though we can compare and study the previous injections' details as well

 

[DSM]

Sharekhan does give flashing reports on inventory, about a minute after the data is released. At times, the market already makes a major part of the move with the data. (Yesterday's crude data for instance) In most instances, PA after the initial move, dictates action. So looking at another portal may not be of great help due to time lag, unless the news is of high fundamental value - and this excludes inventory data in my view.

http://ir.eia.gov/ngs/ngs.html

I know a few brokers give a flashing report of the data at our portals ,Here though we can compare and study the previous injections' details as well