Day Trading Stocks & Futures

[soft_trader]

What is this half and half about crude oil/ commodities ??

first half means 9:00 am to 5:00 pm
second half means 5:00pm to 11:30pm/11:55pm

 

[vikas2131]

 

[vikas2131]

 

[vikas2131]

 

[timepass]

They have only evening session today.Usaully from 5 :00 PM onwards. First half the market is closed and the second half is open for trading indicated by the blue bar on MCX holiday page

View attachment 33655

first half means 9:00 am to 5:00 pm
second half means 5:00pm to 11:30pm/11:55pm

But there is no break between the timings. So what is the difference ? Do the positions have to be squared off for the first half and fresh positions taken for post 5 pm ?? Do both the sessions have a pre-open ?? What are the timings for the traders ??

 

[soft_trader]

But there is no break between the timings. So what is the difference ? Do the positions have to be squared off for the first half and fresh positions taken for post 5 pm ?? Do both the sessions have a pre-open ?? What are the timings for the traders ??

1. There is no break.

2. Positions are also not squared off.

3. Commodities doesn't have any pre-open session.

4. Importance is, in the first half the currency market remains open, so any movement in international commodity price reflects here in India as: international price of the commodity in USD x real-time exchange rate of USDINR. But, in the second half, as the currency market shuts at 5:00pm, the last tick of USDINR of the day is used for price calculation of commodities. So, in the second half, price of commodities will be: international price of the commodity in USD x LTP of USDINR of the day. This happens because, in India we are price takers, not price makers.

5. Another significance is that, on the days of small holidays (such as today), it makes easier for traders to understand at what time commodities will remain open. As by referring to second half we can easily understand the timings. So it acts as a reference point of time.

 

[john302928]

Crude likely have completed its 5 wave moves on 22 feb @6.30pm. It reached a high of 57.81 which is a short of 1$. It didnt reach the expected target. We cant complain. But its been an excellent move from 44 zone to just under 58 zone. I am more confident that short term top is in place. we might have atleast more than a month of correction is in place. Cheers
By any chance if it breaks above 57.36 then only it will reach 58.9-60$ and top may be formed there else top is already in place

Update on crude
Crude it broke 57.36 so we have to expect top is not yet in place. after crossing above 57.36 it fell back 55 zone but expectation remains the same that top is not yet formed because it broke 57.36 so top is still due. at the moment my expectation is around 58.9-60$ and lets see how far it goes
Chart added
As long as crude stays within these channel lines, wave 5 is still in place. we can conclude wave 5 is over only when price falls below the lower channel line with impulsive force.

 

[pannet1]

@niftytaurus @afin @KAL.YUG

Sorry for not pinging earlier. my bad. its live now.

 

[sanju005ind]

@niftytaurus @afin @KAL.YUG

Sorry for not pinging earlier. my bad. its live now.

None of the above will understand tamil.

 

[pannet1]

None of the above will understand tamil.

its become multi lingual by now.