MCX
Expertcrudeoil - intraday trading in crude oil?Indicators play a major as well as significant role in intraday traders particularly for the beginners for trading.
All markets, but especially crude oil are only based on supply and demand. Supply and demand are what makes price in any market move from one value area to another, nothing else.
My best indicator is MACD & Bollinger band
Moving Average Convergence Divergence - MACD
The MACD is calculated by subtracting the 26-period EMA from the 12-period EMA.
The MACD triggers technical signals when it crosses above (to buy) or below (to sell) its signal line.
The speed of crossovers is also taken as a signal of a market being overbought or oversold.
The MACD helps investors understand whether bullish or bearish movement in the price is strengthening or weakening.
Bollinger band
Bollinger Bands are a dynamic indicator which means that they adapt to changing market conditions and, thus, have benefits over other standard indicators which are often perceived as ‘lagging’.
There are just a few things you need to pay attention to when it comes to using Bollinger Bands to analyse trend strength :
During strong trends, price stays close to the outer band
If price pulls away from the outer band as the trend continues, it shows fading momentum
Repeated pushes into the outer bands that don’t actually reach the band show a lack of power
A break of the moving average is often the signal that a trend is ending
Visit here : Expertcrudeoil
Crude Oil in a demand zone.WTI has changed its trend channel. It seems to be in an important demand zone with support from long term trend line starting from 2017. Seems like an interesting long, with a possible stop & reverse Short. Good R:R
COPPER CFD - SHORTING OPPORTUNITY#COPPER
cmp $2.743
Target 2.46
Stop 2.85
Rectangular consolidation range broken.
Post break, flag formation.
Any uptick till 2.80 is a shorting opportunity for a target of 2.46.
GOLD SELL ON RISE TG 1186 (100%) SL 1336GOLD SELL ON RISE TG 1186 (100%) SL 1336
MINI SL - MINI LOSS
BIGG TG - BIGG PROFIT
Reasons : Fundamental Vs. Technical Analysis
1- GOLD UP SUPPORT 1336 LAST YEAR LOW
2- LAST DOWN SUPPORT 1186/82 (100%)
3- DXY ALREADY BREAKED 95.53
4- XAUAUD LAST DOWN SUPPORT 1602 (100%)
5- INDIAN MCX GOLD TRADING EXP 03/AUG/2018
6- Jul/Aug31-1 FED MEETING
7- PM ME FOR MORE INFO
Like & Comments if you follow this idea
MAKE MONEY IN TONS
THANKS
#MCX heading to 1607MCX on 2 Month chart showing bounce of 38.2% fib and has started wave 3.
Long term target is 1607.
Crude Oil Another Down Swing?Crude Oil following nice pattern, it can be shorted on any up rally only for tomorrow with SL being above 72.85 for Targets of 70.5-70.8.. If it breaks 72.8, then next long target would be ~73.5$ which is also as per monthly breakout happened months ago at $50-55
MCX trend reversal after making triple top MCX shows a good trend reversal after making a triple top pattern
1) 760 could be a possible best entry with a target of 840 with stop loss of 700
2) It could also test a target of above 940 in 2 to 3 months period
Regards
Dinesh
CrudeOil Elliottwave View: Buy the dipStrategy: Buy the dip
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CrudeOil is in correction phase and looking for W-X-Y correction on weekly chart where target for Y is above 55. On Short term, we are waiting for good opportunity to go long. After breakout of bullish inner channel, we are on sideline and looking to see support on outer bullish channel.
EURINR Elliottwave: Looking for break of monthly trendlineTalking Points:
Technical Strategy: Bearish
Elliottwave Count: Either wave (C) continuation or B wave of (B).
HTG Note:
Larger outlook on weekly chart is showing weakness on long and short term. EURO vs Indian Rupee price is testing weekly trend line. Last time this line was tested on September, 2015 and post that we seen nice pullback towards 77.80 levels. We in HTG consider that was correction and marking as a wave (B). From 77.80, we were seen bear continuation and currently price is testing same weekly trenline. Break of this weekly trendline will be very bearish outlook for Euro. On alternate, if price is start trading higher, we are expecting to see price can go and above 82 levels before it's turn bearish again.
Lower time frame, we are seen reaction near trend line support, however current price is trading in just correction and testing horizontal resistance on 70.15. We are expecting this zigzag correction should be over. To confirm, bear trend is back in force, we need to have channel breakout here @ 70 area. Post this breakout, we are able to mark correction over and can trade for lower target below 68
Action
We initiated short position @ 1.77 with limited stoploss
28Sep-USOIL contrarian tradeLow risk short idea at CMP with stops above 45. The counter seems to be finding resistance in the channel trendline.
USOIL Long view on multiple tests of support & supply zonesAug-26: Long view on crude with stop & reversal below the
lower trend line.
3 reasons:
1. converging averages
2. lower support line of pitchfork
3. breakout above the descending top trendline
Copper Buy Setup!!Copper is giving a Buying Opportunity near the 61.8% retracement of the last rally and correction has reached the bottom of the trend channel within which Copper has been correction. Last 4 hour and 1 hour Candlestick pattern shows bullish pattern with divergence in 1hr chart. Its a nice risk reward trade if it does reverse and go up from here.. Targets and Stoploss levels are on the chart.
Happy Trading!!
CrudeOil Short Setup!!CrudeOil is giving a Short Setup!! Current correction would potentially be a Flat or Triangle type corrections as this could be a potentially intermediate 4th wave correction.
Happy Trading!!
XAUUSD - Silver View!Silver is correcting for now as a Flat correction. Down side is possible till 18.50 from where expecting it go higher above 21.50.If it continues to go lower below 18 then it probably might be doing something else and invalidate my analysis. Looking for reversal and buying opportunity around 18.5 levels. Details are on the chart.
Happy Trading!!
Siraj Hudda, CFTe
Web: www.prowaveanalysis.com
Skype: sirajhudda
Email: contactus@prowaveanalysis.com
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Crude Sell Alert on Support BreakdownCrudeoil Broke through the support range of 45. Needs to sustain below and has a good potential short trade.
One concern is lower than average volumes
Support Breakdown Trading ideaLower tops on the charts testing the support zones. Low risk short idea until crude holds below the trend line.
breaking 48.90 will be the key
sell xag/usd silver spot sl 18.5 tgt 16.5 and belowsell xag/usd silver spot sl 18.5 tgt 16.5 and below
Crude under pressureCrude (22.05.2015) traded lower as per our expectation as mention in our previous article, however it fail to reach to $55.70 mark & bounced back with current week inventory support.
Now crude is trading around $60 mark & as we can see on charts, crude trying to retest the broken trade line of ascending channel. The bounce was supported by volume as well as pattern is not very ideal for recovery. On elliott wave count , crude probably trading under 1st downside wave with probably V wave down now. However the count is not very ideal still there is no other probability available this time.
On fundamental side, although we witness a good withdrawal last week, total inventories still roaming around all time high while strong dollar likely to continue.
Based on above technical picture , crude probably move downward once again. Level $55.70 & then $51.50 will be on radar.
MCX -> S2(3610) S1(3724) cmp(3832) R1(3910) R2(3980)
Note - Above technical analysis is not a buy/ sell recommendation.
Read more articles here www.mantracommodity.blogspot.in
