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Hi All,
Firstly, I couldn't find this topic anywhere so apologies if i am doubling up here.
Having been trading in aussie mid cap shares for the past year or so (DMA), i now find myself taking a big interest in commodities. As such, I have a couple of questions that havent been answered when trouling through internet sites.
My question relates to which chart I should be focusing on in order to carry out my analysis and make trading decisions. I have used Crude Oil here as an example. The image below shows Crude in a couple of difference charting programs.
Movements, price level, key highs and lows, volume, all appear marginally (sometimes greatly) different. Why???
Which chart actually shows the real movement and real open interest (not market maker) of crude oil for example?
If you look at the chart below you will see that Chart 3 for example, its Oct high's level cuts right in the middle of the feb/mar fast move up.
And if you look at chart 2, there appears to be a false break of that high occurring in April, or a double top (whatever you want to refer to it as). The point is that these charts of the same commodity MAY result in making different trading decisions.
The other image is of all the crude oil contracts, on various exchanges.
What do they all mean and which one should a beginner like me being concentrating on if I wanted to trade oil in the future?
Thanks for reading
Firstly, I couldn't find this topic anywhere so apologies if i am doubling up here.
Having been trading in aussie mid cap shares for the past year or so (DMA), i now find myself taking a big interest in commodities. As such, I have a couple of questions that havent been answered when trouling through internet sites.
My question relates to which chart I should be focusing on in order to carry out my analysis and make trading decisions. I have used Crude Oil here as an example. The image below shows Crude in a couple of difference charting programs.
Movements, price level, key highs and lows, volume, all appear marginally (sometimes greatly) different. Why???
Which chart actually shows the real movement and real open interest (not market maker) of crude oil for example?
If you look at the chart below you will see that Chart 3 for example, its Oct high's level cuts right in the middle of the feb/mar fast move up.
And if you look at chart 2, there appears to be a false break of that high occurring in April, or a double top (whatever you want to refer to it as). The point is that these charts of the same commodity MAY result in making different trading decisions.
The other image is of all the crude oil contracts, on various exchanges.
What do they all mean and which one should a beginner like me being concentrating on if I wanted to trade oil in the future?
Thanks for reading
