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ReadtheMarket - Supply and Demand with Price Action
- #3,663
- Nov 2, 2017 11:13am Nov 2, 2017 11:13am
- | Membership Revoked | Joined Nov 2010 | 3,072 Posts
UC {image}
{quote} CFD brokers can either "gap" the chart @ futures expiration or adjust the price & leave the chart without a gap. If you're holding a position & they "gap" the chart, then they'll add or deduct the gap amount in your account with a debit or credit. The correct chart is a futures chart so looking @ a CFD chart that isn't adjusted correctly will be difficult to trade with precise levels. The only precise levels that can be used are levels created from the time of the roll. All historical levels prior to roll may be incorrect. PA may be very...
Hey guys,
I was looking into trading commodities with physical delivery. The particular question with Crude Oil which chart is reliable bothered me for a long time as well. Then i compared the volumes traded in FX:USOIL and CL:
In the last week 4mln in NYMEX versus ~200k in FX:USOIL. Wonder where IT's play the major game??? Of course you can top up OANDA, FX, TVC, etc. and still will you get above 1mln?? And is it 1 NYMEX contract is equivalent of 10 FX lots?? So the answer becomes onvious i think where the game is played.
Another question: how to trade HTF in NYMEX ??? My current answer is to look mainly in two contracts June (M) and December (Z). As per exchange setup those two contracts are beyond closest 5 years (i roughly remember), and these two contracts have enough volume in history to analyze the levels. And here you can use VSA ! And i really like the simplicity of HTF NYMEX charts
Another question is the availability of 1min data for CL contract. Till now i didn't need it (i don't trade yet) so was not solved for me yet.
Hope that will be helpful for somebody
)
Please put away your volume indicators and never use them again. The ITs who control the market will never share their volume figures with the World, so there's no way you'll ever be able to make an informed decision based on the stoptaking figures your feed shows you. Not only is it fruitless to consider volumes, but it's a distraction from the best information you'll ever be privy to: Price
Volume here was just for a comparison reason to identify where the game on Crude Oil is played
But yes, personally, i think that VSA can be useful for commodities and stocks in addition to what we get from RTM, as well as spread peacks for FX.
And then on to the target{image}
If put the OM after the Eng of FL. For some reason i understood it different initially. Now i'm able to see
Didn't decide yet for myself should i re-do my OM hw or remain with prior understanding or combine. Probably the answer is the better understanding of scales.
