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...
55 comments:
5174 is strong resistance in nifty future
wkly pivot, daily pivot, hourly pivot... all 5143
@ Abhi,
It is the Hour to Hour strength v/s weakness along with Day that I commented.
In week/ Day/ Hour T/F Nifty is UP. A trader then could look for buy the dips or sell the first sign of weakness for intraday purposes. Positional remains long till the EOD TA changes.
Accordingly, Above Friday's high, momentum continues to be UP.
Friday Last hour High low being 5141 & 5120 will also will indicate price's strength/ weakness.
@saurabh,
Nice observation.
@Ilango
1. US VIX down sharply
2. Dollar index down
3. Stong on hourly, daily, weekly
A positional buy????.....your views please
@ Saurabh,
You are looking at the "next week's & Next day's developing pivot".
This week's pivot is 5052
Today's Pivot is 5110
This Hour's pivot is 5143.
Thank you, Sir.
since last 2 days every intraday high is not supported by rsi.
@ Ilango sir
Thanks for pointing it out.. am still learning to trade by the tech table..
5160/5056
DOWN FIB LVL
5135/5120/5108/5096
38.2% COINCIDES WITH LAST HOUR LOW OF FRIDAY.
pdd
@Satheesh,
Excellent weekly chart. A very interesting observation. Also to note that the reversal candles formed in the 4th and 5th week, in both cases.
@ Indus,
Technical status is in buy mode with Week closing above WHEma, there is momentum from week indicators too. Till Diwali towards 5250-5300 is possible with corrections on the way.
Positional buy...? Now..? If not done earlier, then during corrections...yes.
@Ilango
Thank you
cnxIT reliance bank nifty all r weak.be cautious wid long
Thanks Fire
since last 2 days nifty future is making new high but itm call is not breaking its previous high.strong divergence
@Sir
GM
Tisco could be on for the next lap
is it time to go short with 5144 stoploss in future?
D-JNSAR last 5 months with 50pt SL and
playing ONE LOT, has given 930pts gain WITHOUT
including this last runup from 4730. This DOES NOT
include the possible "buy on dips" and
"sell on rises" which ilango sir does ( recommended
for experienced only ).
H-JNSAR 5101 close to go short.
"Pausing around the Pivot-5110".
@Ilango
My logic for a positional buy at this stage:
1. Holding week and day high ema
2. Holding day pivot
3. Holding hourly JNSAR
Is it time to buy???....Stop loss 55 day ema at 5087??
GD: how do u play with one lot? i usually book out after 50-75 points whenever i trade with one lot.
@ram charan,
Those were back test results.
Sis
Will 17K break?
Price:: Open Interest ::Interpretation
Rising + Rising =Market is Strong
Rising +Falling= Market is Weakening
Falling +Rising =Market is Weak
Falling +Falling= Market is Strengthening
@ Indus,
5053-85 could be your / rebuy area or closer to DLEma.
5085 could produce an intra day bounce.
first target 5060
Fast rise setup!!! invalid below 5080 NF!!!
nifty rider
slow man slow
some time ur asking some time ur giving tgts
Lets know first ur Analyst or trader?
@ golf dude looks like Complex W4 correction is over and W5 has started??? your views pls
nifty rider said...
is it time to go short with 5144 stoploss in future?
nifty rider said...
first target 5060
@GD
thanks for the back-test data. Can you explain 50 point SL?
Is it the filter you use for 2 days after JNSAR is triggered?
After 2 days we follow JNSAR number and dont keep 50 point SL?
Thanks
Guys I missed out on the sat discussion.
Just an update
Hare Krishna movement is not a hippy movement as
someone commented.
Swami Prabhupada went to the US at the age of 65 and
gave the teachings of Krishna to the hippies and junkies
and they voluntarily took up bhakti movement and became
Krishna devotees. Today, all of them are great sanyasis.
One should read the philosophy and visit their
institutions and then comment.
Saint Chaitanya from Bengal initiated the movement
in the 15th century.
I am not plugging for this group and I do not belong
to it but I am have done research in Indian and Int
Philosophy and know what I am talking about.
Thanks for listening to me.
@AJ,
The only money management I did was 1 lot with 50pt SL. If
you do what ilango sir recommends ( 2 lots and 1 lot
profit at 50 pts and then trailing SL ), your profits
will be much much more.
dineh sir i first caution long people thn only i asked bcoz i m newbee here
i m sorry if offended u
@sudharshan,
I subscribe to a EW newsletter for S&P. S&P and Nifty
are trading really closely. One thought there
is that we could have finished Wave 4 on Friday or
today with a new high which makes some sense timewise,
because A and C of a flat should be same time and length.
Alternate is that 5 completed at 4729 and we have
a new impulse. Dont know till we get to 4950 zone
and see which way the market goes.
There are other alternatives too ( like keep going up
vertically :) ).
i m analyst u may know it frm my previous post
rsi not supporting itm not supporting cnxit reliance bank nifty all r weak. ithink these all reflect that i m amalyst
Bro Nifty Rider
if ur new plz be with us for some time and
observe how we interact
Posting levels after every 5 mints is not our
style, we have levels ready for even next week
check TT
:D
@GD
I am confused :D. Have you explained how to take the trades? Is it in your blog?
I dont understand 50 point stop loss. For SAR trade, it's always TSL ie JNSAR.
Can you explain entries and exits for above back-test data results.
ok sir nomore targets now onwards i only say northward or southward. is it ok?
Golfdude and Anuj,
As you closely follow-up hr Jnsar, my observation.
Take the contra trades on hour JNSAR. Buy closer to Jnsar when prices coming down (may be 2-3 ticks above JNSAR). Target is 10-15 ticks and SL 2-3 ticks below Jnsar. If you are comfortable, you can reverse or just let it stop out. Vice versa for shorts.
Since JNSAR is not breaking every hour, this will give more trade chances with good risk reward. Slight deep pockets can try this.
Nifty Rider
I dont think we requires your compass here
We already have our time tested System
and Master To guide us :D
http://timcorrigan.com/wp-photos/20080916-143916-1.jpg
Current Low exactly at Day Hema/week Hema 5085.
so is it mean that its only learning forum no one can share his knowledge. if i only said go short or go long widout giving reason for it i may b wrong.but i share watever little knowledge before i gave target(which may b unethical to this forum).and sir i think newbees should also b encouraged to share their knowledge hw can they b mature widout it.sorry if i m unwanted here
GD,
// H-JNSAR 5101 close to go short. //
I got it!
@nanjil,
I dont usually trade for 10-15 pts. Too aggressive
for my style.
as per 30 mn. chart nifty within bullish upward channel???(since oct 7th) channel low is around 5090?? ifit breakes decesively and EOD close below is worrysome for bulls?? Reenter this channel 5090 is +ve for bulls again??october 26th and 27th is holiday. Trading Nov. is better than October. and gradually quitting the longs @ higher level is good??? Only worthless "Q"s as usual :D
Bye - busyyyyyyyyyy enjoy the "space" :)
New Post Done.
@AJ,
You can decide on TSL. I was just telling you
how I did the back test. Start trading with a
50pt SL. Close trade when either SL is hit or
JNSAR reverses. Based on that, those were the
results.
@nanjil
Thanks for contra trading setup. I don't follow JNSAR, just follow it's colors :)
Nifty Rider
Thanks Bro so nice of you :D
GD,
True.It will be frustrating to play for 10-15 ticks.
May be for intra players, it will be a nice attempt compared to other studies.In a good range day, we can have minimum 2-3 trades using Hr JNSAR.
As I said, deep pockets can do it with reasonable volume.
Big qty with small profits will do good.
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