Retracement strategy, a must for traders.
Trading strategy that works wonders besides the supports & Resistance is " Retracement strategy ": The strategy that has wor...
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I 'll always be there for you. To make you feel that you're secured. And even if the rain is pouring hard and the sky is almost dark... -
5010-5039 supply zone proved a ST resistance. 5002 proved a break down point. 4945 to 4982 proved a corrective rise, monitored with an ... -
Trading strategy that works wonders besides the supports & Resistance is " Retracement strategy ": The strategy that has wor...
62 comments:
hi..Gautam,
I am new to Gann dates. But heard about them. Will study in detail later. But I am reproducing these for those interested in it.
Thanks.
http://when2buy.blogspot.com/
Chart 1
Start - November 03 ' 2009 (Nifty was at it's lowest 4538)
90 Degree occurs on Feb 04 '2010 (Nifty was at it's lowest on Feb 08 ' 2010 - 4675)
180 Degree occurs on May 04 ' 2010 (Nifty could be at it's highest - 5400 / 5800?)
Chart 2
Start - Jan 06 ' 2010 (Nifty at it's highest 5310)
90 Degree occurs on Apr 07 '2010 (5350 / 5450?)
180 Degree occurs on Jul 07 '2010 (could be at it's lowest)
Chart 3
Start - Feb 08 '2010 (Nifty at it's lowest 4675)
90 Degree occurs on May 08 '2010
180 Degree occurs on Aug 09 '2010 (could be at it's highest)
Buy 5200 call @ 71 and 5200 put @27. strategy profitable above 5270 and below 5140
@ Vikram,
Go in with a trade plan. Write few numbers closer to the previous day's close from the Tech.table.
Merge it with "Pivot table" points.
Merge them again with VAH-POC-VAL.
Last execute the plan using the Yahoo intra RT chart.
Hour Low ema @ 5225 would have given a low risk entry for a long since there was a correction from yesterday but the "Day trend" is "UP".
5250 is a first resistance..& the VAH @ 5256.
Above which a new high to complete the "vth" of the 3rd wave from the low of 4675.
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Write your script everyday however silly it may sound to you at that time..
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Thanks Ilango..
@ilango sir and all
very good morning...
@rajagopal
how are you man? hope u ve seen my comments yesterday night.
@gautam,
if gann reading is so easy, then everybody will be great traders...there is one important astro happening around March 21, sun is entering in to aries as per western system which gann considered as start of fresh season...i leave here for your guessing...
sri
@gautam,
interesting thing to note about nifty is it is running favorable dasha period of 2 and 5 lord Jupiter currently and it started from March 06, 2010...this period is very lengthy one, probably we may see high in this period of dasa phal..
sorry for writing astro
sri
Sri - Good. Read your comments.
Thanks Sriganesh.. I dont know too much about Gann or Astro.. just looking for co-relation between dates..
While my wave counts also indicate upmoves - upto 5800 / 6250+ by Aug? I do not know..
Market will guide us..and we only ride the waves
Gautam,
u r saying May 04 ' 2010 (Nifty could be at it's highest - 5400 / 5800?) and again 90 Degree occurs on May 08 '2010 which is low.
how nifty can move so fast in just 4 days?
ginn reading is very condfusing for me. Still good luck for u if u r trading with that suystem.
Sri - can you enlighten me with a little more information? This seems very interesting..
"sun is entering in to aries as per western system which gann considered as start of fresh season...i leave here for your guessing..."
NF is stalling below 5256-VAH.
Govid :-) I only put what the charts showed me.. seems contradicting I know.. Just interesting to note - not use as a system for trading..
Very nice education developing. People always have a "Plan B" if one fail as xxx will become yyy.
So now I will follow astrology closely...if I fail in Trading, I will become an Astrologer?
Sri and Gautam are decent - atleast they treat NIFTY with astrology,unlike Rajagopal who treats it as a drunkard.
Sir,
I came across this blog in Slope ur Hope.
http://www.goldscents.blogspot.com/
This kind of rally doesn’t happen that often, but when it does, it is a ticket to get rich on the long side of the market or poor if you choose to try and fight one of these runaway moves.
Will we see Nifty at 6300 in May/June.
Please keep an eye on South Indian Bank Ltd.
@gautam,
easy way to get clues on gann is take one srichakra picture with out borders and concentrate your eye on the bindu point and see each and every triangle movement, u will learn the insights of workings of the universe...
There are 60 equilateral triangle with 6 degree each totalling to 360 degrees...further u explore
Presently am trying on elliot wave from last sunday because i want to get into ilango sir's wavelength...for my tiny brain, somehow elliotwave is big puzzle....
sri
@ sriganeshh,
interesting comment,
just inquisitive to know what date ,time and place of birth have u taken for dear nifty to prepare the basic astrological chart
@rajagopal,
u r a born astrologer...as mahalakshmi's father bhrigu rishi is a great astrologer...
bhrigu nadi is one of the best astrological treatise so far next to rishi sukar..
sri
@aarvee
the date of birth 03.11.1994
time of birth 9.55
place of birth mumbai
longitude and latitude 72 E 50 / 18 N 58
actually i got the chart from someone...but the dates seems to be ok
sri
Hi Sri,
Looks like Mrs and Mr Nifty have "Dasa Sandhi" @ 5270. Normally it is a threat to married life?
(how come you have so much time today?)
nikki is falling now -75
Ilango sir, from learning point of view, now a daily close below 5 day ema will give indication that v has ended. right? and that will b a point to start conservative shorts? or can it be also started below day high ema and wait for follow up action till closing?
thanx a alot Illango sir
i will definately go by your words and will try to do as you are guiding me,
and sir nothing sounds stupid ...if its coming from your side sir
thanx sir
regards
vikram
( sir i want to request you to pl. provide some write up on the tech table provided by you and others blogmates, as i am not very good at updating excell )
@raja
boss is out of station and all advancetax work is over...now waiting for bank audit to come...little free..
sri
Sri - Thanks. My wife's side are into astrology.("Thattayars"). I am very fond of Palmistry - I feel it is the best graph of one's life. Have a very bad habbit of peeping into the palms of strangers I meet to find OB/OS,+/-div'ce ....
Oh my god...I am confused.
@raja
regarding dasa sandhi at 5278, may be
surprising is 5260 is roughly 6 degrees rise from the low and this is the beauty of srichakra and gann..
@gautam,
if u know how to rectify afl codes, i can send u one afl code link wherein the author has written match matching of srichakra with market...
sri
Sri - One more request. Prepare a nice one pager on Taxation for us Traders covering :
a. how to treat day / positional trading
b. where is business / CG income
c. how to compute the tax.
It will be a great service to all of us. May be Dear Ilango will be requested to post if for the week end.
(I forgot more than what I read Sri. Allow another firm to do the work since wife has refused)
Let us pay our Taxes and hold our head high.Particularly our younger ones - treat is as a SL triggered - but please pay your Tax.
hi..bizagra,
Though Bank Nifty made another high, Nifty did not.
5250 - 5285 is a strong resistance. One can sell in that zone woth 5310 +/- as Sl and trade the shorts....as the trend is still up., besides daily, we need to take the weekly also into a/c.
From the low of 4675, this is the 3rd wave(There is another alt. view that 5th is over) and a sideways 4th will be on or already on..coinciding with the "rollover" but will make another high before the end of this month..which is 8 trading sessions away..
@raja,
u r asking the wrong person. I am not a tax expert but still will try and get it vetted by my boss who is practising tax and will send sometime later...
sri
Hello All,
doesn't Nifty is forming "Rising Wedge".
Yesterday, Nifty was near to the top of Upper line (5270).
Dear Ilango and Blogmates,
Very Good Morning to all..
bought 5300 call @18 to hedge 5200 put @39. which should be booked first??
@sriganeshh
just checking from NSE website,got this---
Futures & Options
The National Stock Exchange of India Limited (NSE) commenced trading in derivatives with the launch of index futures on June 12, 2000. The futures contracts are based on the popular benchmark S&P CNX Nifty Index.
how did u get the date of 3.11.1994 for birth of dear nifty?
@aarvee
my understanding when i got the chart from my friend - it is the start date of nifty index probably available data...or else u have to go by prashna technique to confirm this date is right or wrong...
further futures is nothing but derivative product of nifty...it is like a new growth stage..
sri
gm all
Dear sir,
Kindiy guide me on below indicator parameter settings to be used in charts (5min, 1hour,Daily, weekly).
Indicators
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MACD
RSI
Stochastic
Thanks
Gopkrish
@ilango sir and all
will nifty come to 4800 or lower,if it will then how much time will expected?
-nitin
@gopkrish
pls refer yesterday's posts as mr.Ilango has already replied
@ilango and viren,
"diff between equivalent of a weighted 20 day moving and a weighted 40 day moving average. This then behaves like oscillator fluctuating between minimum and maximum range"
this is given in the computation of mcclellan oscillator...can u guide me how the weighted average formula can be build in excel sheets
i have downloaded one year adv dec figures from nse....
thanks
sri
@mynac pa ji..
oi:)
Sriganesh - Please email the AFL code.. let me take a look at it..
gautam108@gmail.com
Ilango sir, your 11 am 5-EMA is 5233, and hourly close is below this at 5228. I am holding nifty futures short at 5251. can i continue to hold till nifty spot falls today to 5200?
@Sriganeshh
NSE was incorporated in nov.1992
Equity segment commenced operation in nov.1994
Futures started trading in june 2000
we trade in futures ,wouldn't it be right to chart futures?
hi..Gopkrish,
I'm sorry that I have forgotten about your request of yesterday..
Macd: fast 5,13; slow 12,26 for day, week.
Rsi: 9 & 14 period for both day & week.
Stochastic: 5 & 14 period for both day & week.
5-minute setting:
macd:
Rsi:
Stochastics: 39 period.
hi sri
A Weighted moving average (WMA) attaches greater weight to the most recent data. The weighting is calculated from the sum of days.
Example: For a 5-day weighted moving average the Sum of Days is 1+2+3+4+5 = 15
Weighted values are calculated by multiplying today's price by 5/15, yesterday by 4/15, and so on. The weighted moving average is the sum of the 5 weighted values.
http://www.incrediblecharts.com/indicators/weighted_moving_average.php
Dear Ilango,
It is reflecting very clear cut that considering the days for expiry,Bulls just want to stay above even 5200.Intraday addition of 500000+ O.I. in 5200 PE and 1400000+ addition in Nifty Future where majority players hardly dare to go long considering the resistances ahead is also surprising.Will have to watch 5232 very closely because the biggest volume trade was at that price when it fell very sharply from today's top.Your comment" a sideways 4th will be on or already on..coinciding with the "rollover" but will make another high before the end of this month..which is 8 trading sessions away.." will be observed very carefully.
hi sri
as viren said, i referred the $nymo vs. Nifty, in shai blog. seems there is a correlation.
plz workout the wma and put up in this site your inference.
with regards
Saravana,
Nifty is trading between 5225 & 5250 NS..
As said earlier, corrections of this magnitude is diff. to figure out..
Trade means, pick out the money within a range ..of diff. time cycles.
Information for positional shorters:-
Yesterday Dow Jones made a new high @10787.86,
it is desperately trying to break previous resistance.
--------------
Addition:-
The Dow Jones Industrial Average yesterday rose above the midpoint of its last bull market in a positive sign for U.S. stocks, according to Richard Russell, who has studied the average since 1958.
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Thanks & Regards.
@mok,
thanks..
@gautam,
afl code sent for your review..once u r done, kindly let me know
@ aarvee
as i said, u can take the futures date to prepare the chart but i am considering the base chart as i view the future evolution comes under events happening in one's life..u can take varshaphal chart also to take one year view on nifty....
sri
@sriganeshh,
just trying to apply the logic that as we refer to our child's(derivative)chart rather that ours to predict his/her future,why not go by nifty futures chart to get more accurate results since like an indivial nifty futures has its own premium and discounts(inbuilt qualities)to be judged.
correct me if my lofic is wrong.u may also chart the futures and backtest it astrologically.
Saravana - Confidence erosion on "5000" target from your broker ?
aarvee9 - Sri : When there was leadership struggle during the period of Mr I K Gujral or Deve Gowda, many names were proposed and rejected. Finally, Mr Lallu said "ok. If you don't agree to anyother name, I don't mind to be the PM" - that is all. All discussion stopped and the then PM was confirmed to continue.
So Can I make the Chart ?
still holding long taken at 5242 with revised sl of 5215
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anyone give me the views on DLF
@ Rajagopal,
rangebound market helps in discussions and gaining insight into other worlds.
(here the other planets)
ya remembered seeing one of your comments about something on 24.03.just to remind you it will be a holiday for Ramnavami,so plan accordingly
aarvee9 - just noticed abt 24.03 - will it mean double load on 26.03 ? Or 23.03 will change trend ? Just going by simple logic only. What is realised is profit. Somewhere offloading has to happen for the 300 point range purchases. Thanks.
Sriganesh..I've sent u the modified AFL
@mok&raja
I think this is the correct link
http://www.incrediblecharts.com/sitemap.php?cluster=12
I have taken 5200Call @ 64.20 for intraday. The same is not showing movement and I am thinking SL of spot 5215, is this ok or I need to change my strategy... any suggestion please!
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