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A perplexing invention
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Author A perplexing invention
pavan29
Green Belt
Green Belt


Joined: 26 Jun 2012
Posts: 1036

Post: #1   PostPosted: Fri Nov 02, 2018 9:24 am    Post subject: A perplexing invention Reply with quote

Hello Ichartians

Its been a while since i have been posting in ichart forums.

While analyzing the commodities, i accidentally made an invention in deriving the support and resistance levels for the day for any commodity.

Surprising they work so amazingly but i am unable to create a trading strategy for entry and exits...

I will share my levels for Crude and NG yesterday...Kindly draw these lines in charts and let understand the importance of these levels and how would you have preferred to enter / exit...

Crude :

4899
4884
4869
4854
4839
4824
4809
4794
4779
4764
4749
4734
4719
4704
4689
4674
4659
4644
4629
4614

NG:

246.2
245.05
243.9
242.75
241.6
240.45
239.3
238.15
237
235.85

High of Crude was 4812 and low was 4630

High of NG was 242.9 and low was 235.7

Shocking isntit???

I will post the values for today shortly.
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pavan29
Green Belt
Green Belt


Joined: 26 Jun 2012
Posts: 1036

Post: #2   PostPosted: Fri Nov 02, 2018 10:19 am    Post subject: Reply with quote

Todays levels for NG:

241.9
240.75
239.6
238.45
237.3
236.15
235
233.85
232.7
231.55
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pavan29
Green Belt
Green Belt


Joined: 26 Jun 2012
Posts: 1036

Post: #3   PostPosted: Fri Nov 02, 2018 10:23 am    Post subject: Reply with quote

Todays levels for CRUDE:

4735
4720
4705
4690
4675
4660
4645
4630
4615
4600
4585
4570
4555
4540
4525
4510
4495
4480
4465
4450
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pavan29
Green Belt
Green Belt


Joined: 26 Jun 2012
Posts: 1036

Post: #4   PostPosted: Fri Nov 02, 2018 12:32 pm    Post subject: Reply with quote

pavan29 wrote:
Todays levels for NG:

241.9
240.75
239.6
238.45
237.3
236.15
235
233.85
232.7
231.55


Sold at 236.3, waiting for target 235...slr placed at 237.3 with target 238.4

Max profit=1.3 points
if SL triggers and hits target=.15 points
if SL hits and reverses to 1st trade hitting target= -1.1 points

Lets see how it goes....
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pavan29
Green Belt
Green Belt


Joined: 26 Jun 2012
Posts: 1036

Post: #5   PostPosted: Fri Nov 02, 2018 1:30 pm    Post subject: Reply with quote

pavan29 wrote:
pavan29 wrote:
Todays levels for NG:

241.9
240.75
239.6
238.45
237.3
236.15
235
233.85
232.7
231.55


Sold at 236.3, waiting for target 235...slr placed at 237.3 with target 238.4

Max profit=1.3 points
if SL triggers and hits target=.15 points
if SL hits and reverses to 1st trade hitting target= -1.1 points

Lets see how it goes....


Trade 1: closed with1.3 points profit.
Trade 2: Short again at 234.5 with target 233.8...target hit....0.7 points profit.

Expecting bounce if price crosses 236 upward...will wait and watch...
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pavan29
Green Belt
Green Belt


Joined: 26 Jun 2012
Posts: 1036

Post: #6   PostPosted: Fri Nov 02, 2018 3:12 pm    Post subject: Reply with quote

pavan29 wrote:
Todays levels for CRUDE:

4735
4720
4705
4690
4675
4660
4645
4630
4615
4600
4585
4570
4555
4540
4525
4510
4495
4480
4465
4450


Bought @ 4616....exited at 4630..15 points profit
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pavan29
Green Belt
Green Belt


Joined: 26 Jun 2012
Posts: 1036

Post: #7   PostPosted: Mon Nov 05, 2018 11:21 am    Post subject: Reply with quote

Crude levels for 5th Nov

4666
4651
4636
4621
4606
4591
4576
4561
4546
4531
4516
4501
4486
4471


I bought above 4587, target 4605, sl 4571..Lets wait and watch
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pavan29
Green Belt
Green Belt


Joined: 26 Jun 2012
Posts: 1036

Post: #8   PostPosted: Mon Nov 05, 2018 11:28 am    Post subject: Reply with quote

NG levels for 5th Nov

255.9
254.75
253.6
252.45
251.3
250.15
249
247.85
246.7
245.55
244.4

Bought at 251.7, tgt 253.6...sl 250
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pavan29
Green Belt
Green Belt


Joined: 26 Jun 2012
Posts: 1036

Post: #9   PostPosted: Mon Nov 05, 2018 1:46 pm    Post subject: Reply with quote

pavan29 wrote:
NG levels for 5th Nov

255.9
254.75
253.6
252.45
251.3
250.15
249
247.85
246.7
245.55
244.4

Bought at 251.7, tgt 253.6...sl 250


Exited at 253.5...Net profit=1.8 points
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pavan29
Green Belt
Green Belt


Joined: 26 Jun 2012
Posts: 1036

Post: #10   PostPosted: Mon Nov 05, 2018 1:48 pm    Post subject: Reply with quote

pavan29 wrote:
Crude levels for 5th Nov

4666
4651
4636
4621
4606
4591
4576
4561
4546
4531
4516
4501
4486
4471


I bought above 4587, target 4605, sl 4571..Lets wait and watch


Target hit ..Net profit=18 points
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pavan29
Green Belt
Green Belt


Joined: 26 Jun 2012
Posts: 1036

Post: #11   PostPosted: Mon Nov 05, 2018 2:02 pm    Post subject: Reply with quote

pavan29 wrote:
pavan29 wrote:
Crude levels for 5th Nov

4666
4651
4636
4621
4606
4591
4576
4561
4546
4531
4516
4501
4486
4471


I bought above 4587, target 4605, sl 4571..Lets wait and watch


Target hit ..Net profit=18 points


Sold again at 4581...target 4561...sl 4597
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pavan29
Green Belt
Green Belt


Joined: 26 Jun 2012
Posts: 1036

Post: #12   PostPosted: Mon Nov 05, 2018 2:07 pm    Post subject: Reply with quote

pavan29 wrote:
pavan29 wrote:
NG levels for 5th Nov

255.9
254.75
253.6
252.45
251.3
250.15
249
247.85
246.7
245.55
244.4

Bought at 251.7, tgt 253.6...sl 250


Exited at 253.5...Net profit=1.8 points


Sold again @ 253.1 , tgt 252.5 , sl 254.5
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pavan29
Green Belt
Green Belt


Joined: 26 Jun 2012
Posts: 1036

Post: #13   PostPosted: Mon Nov 05, 2018 2:27 pm    Post subject: Reply with quote

pavan29 wrote:
pavan29 wrote:
pavan29 wrote:
NG levels for 5th Nov

255.9
254.75
253.6
252.45
251.3
250.15
249
247.85
246.7
245.55
244.4

Bought at 251.7, tgt 253.6...sl 250


Exited at 253.5...Net profit=1.8 points


Sold again @ 253.1 , tgt 252.5 , sl 254.5


Tgt hit....Net points=2.4 points..
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pavan29
Green Belt
Green Belt


Joined: 26 Jun 2012
Posts: 1036

Post: #14   PostPosted: Thu Nov 08, 2018 12:07 pm    Post subject: Reply with quote

pavan29 wrote:
pavan29 wrote:
pavan29 wrote:
pavan29 wrote:
NG levels for 5th Nov

255.9
254.75
253.6
252.45
251.3
250.15
249
247.85
246.7
245.55
244.4

Bought at 251.7, tgt 253.6...sl 250


Exited at 253.5...Net profit=1.8 points


Sold again @ 253.1 , tgt 252.5 , sl 254.5


Tgt hit....Net points=2.4 points..


Additional trades:

Bought @ 252.7, tgt hit @ 253.6
Bought @ 254.1, tgt hit @ 254.7

Net points = 2.4+.9+.6=3.9 points
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pavan29
Green Belt
Green Belt


Joined: 26 Jun 2012
Posts: 1036

Post: #15   PostPosted: Thu Nov 08, 2018 12:10 pm    Post subject: Reply with quote

pavan29 wrote:
pavan29 wrote:
Crude levels for 5th Nov

4666
4651
4636
4621
4606
4591
4576
4561
4546
4531
4516
4501
4486
4471


I bought above 4587, target 4605, sl 4571..Lets wait and watch


Target hit ..Net profit=18 points


Additional trades: uses 2 logics....

Sold @ 4581, SL hit 4611
Bought @ 4611, tgt hit 4627

Net points=18-30+16=4 points.
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