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...
70 comments:
@ Vinay,
There will be some differences in the break out points based on different time frame set ups.
If you combine certain TA indicators along with Trendline breakouts, the results are good.
The current breakout was based on both Hour & Day channels and rsi break-outs were useful in understanding them.
I call all backtesting as "fun stats" mainly because
there are no guarantees for the future based on these
results. Almost all trading systems go bad eventually
is something that has been decently validated.
Daily stoch at 89. OB range. Last time this happenned,
we fell from 5090 range. Just an observation.
@ earn/share.com,
Nifty, overbought in Hour TA without weakness or sell signal, is pausing presently.
It should hold 4825-4840 or 4800 for further upmoves.
Next level is marked in the chart, another cluster resistance.
No one is certain where exactly Nifty will stop. So attempting to find such number is a waste of time.
Ride with the direction of the trend and micro manage the trades with part booking whenever certain critical levels are reached.
Agreed...
What I mean serious was..these shows the importance
of identifying the the system..and follow it seriously.
no doubts...there will be some ..whipsaws
thanks
Good Morning Master and copy to All
Observation:
On a day like today, when,100 points move is completed on it’s previous day, “lead indicator not “much favorable” for Bulls for the day” … and Nifty far away even from it’s developing DHEMA ,normally belongs to smart Bulls who very wisely used to book there partial profits very silently close to higher level and opportunistic short traders try to take the advantage of the same in-betweens is general observation.
@Ilango
Thanks for your reply...
"No one is certain where exactly Nifty will stop. So attempting to find such number is a waste of time.
Ride with the direction of the trend and micro manage the trades with part booking whenever certain critical levels are reached."
Any method we follow , these words should be in the traders mind
for the trade management..Thk u
For new readers: in connection with my comment
But it is not advisable to go short in a hurry, because when Nifty is trading well above DHEMA,it is far more risky…
@DR Sir... today again late.... early only when Huge
Tubelight is there.
@Mynac,
Min big Volume 22Lac @9.15 Avg NS 4858
25.5Lac @9.54 Avg NS 4857
45 Lac @9.57 Avg NS 4854
This suggest Nifty may not attempt to cross 4865
atleast for today. Thanks
Namste! Govinda Govinda ...
Tigar said...
@Mynac,
Min big Volume 22Lac @9.15 Avg NS 4858
25.5Lac @9.54 Avg NS 4857
45 Lac @9.57 Avg NS 4854
This suggest Nifty may not attempt to cross 4865
atleast for today. Thanks
Crossed 4865..... High 4865.90..... :) D
@SAM,
Try to not count in points.
nifty premium...only 6pts..from 22pts...does it sign..something...master...annwer waiting?
annwer...read it as answer...sorry for mistake
Dear Tigar,
Am referring NSE site,& after that 4852 initial trade @ 9.57 AM another extreme Big volume trade & 5853 is there which is more than double Qty of the first trade is there. i.e. almost 45 lac.
Dear SAM,
As per my understanding it’s not like that..On the contrary unless and until it is now trading well above 4853 further new top possibility is there as it is really Big in volume up to this Hour. Only the moot point is here that Hrly.Tech table & Lead Indiator is not that much favorable for the same…Nevertheless the possibility can not be ignored because, as in oversold conditions.. Market has tendency to show further new low, vice versa case is here.
Namaste Ilango sir and all,
WEEKLY CHART:
Click Here
@Mynac,
Market is always supreme. I also refer NSE to knoe big
volume node on hr. basis.
Thanks
Dear SAM,
Market has tendency to show further new low, vice versa case is here….continue…
But as our Dear PT says,that “it is against the “nature’s law..” (Thanks Dear PT:)) the chances of gravitational forces act accordingly
4857 resisting ...
pls have a look at chart pattern in google charts in daily from feb onwards :)
Disclaimer:
On every trading day, I used to put away my head away from my shoulders, and try to, and follow just “Teach Table.”
Thanks & Bye Everybody..
Sir,
one request can you please upload the Bank nifty file?
@Tigar... and Mynac .... I was Kidding...don't take it
seriously.... :)) D
Typo…Please read “Tech table” Thanks…
Dear Sam,
I have literally no Problem … But he is Tiger …:)
Thanks for Both…
mynac..:) tech table does teach us so u can call it teach table as well :P
@Sujatha Ma'm: Do you see value in taking infy 3000 call? I am expecting it to hit ~3080 levels after result. TCS too might do well.
??
Dear Ram Charan,
Very True.. For us it's life time Gift from Dear Ilango, ...I have literally No Doubts about the same in my mind .
Friends: has anyone carried over their jnsar trades for next months contracts in the past?
or the general rule is to close it and wait to trigger again in next month?
RC
Everyone rolls over to next contract i believe
My EW counts can get so messy that it is actually fun...
so my latest one min count was...
4 of c of 4 of 3 of 5 of C
In a fun mood today.
mynac said...
But he is Tiger …:)
No not Tiger.... Tigar....:)
Otherwise.... how I dare to do kidding with Tiger:))
to add what i said above: for eg, durin a current month, jnsar has triggered in middle of month and given 250-300 points, so do we close it at expiry or can roll over it for next month? Why ask is psychologically, i feel i am takin a new trade :)
My dear Friends
http://samvada.org/wp-content/save-tigers0001.jpg
@ satheesh
thanks for the update
great work .
- Div in hr chart in NS
@ sam one question how to save data in amibroker i.e. when i start amibroker next day the privious data not shown fresh 5 day 5 min data shown thanks in advance
@ Satheesh,
BN TA file uploaded.
http://www.4shared.com/office/TWY81NGT/01BankNifty-TA-1_by_ilango_.html
@Prabhat,
Infy has strong resistance at 2960 bcoz I believed that was X wave
which carried it to 2960. So in my view 2960 may be tested 3 times
but crossing that convincingly may not occur.
However In my view, For nifty, January should be positive month and February even
more positive to complete 1st phase of large X wave.
As earlier said, Banks and metals may lead that rally.
Disclaimer: No position in nifty and infy. Only positional long in RCOM.
Namaste Dear Ilango Sir and all friends
May the Lord bless us with peace and prosperity here!
And Dear SAM this time really saying Bye as someone is waiting for me since last half an Hr.:) and again reading Jesse Livermore’s that famous Quote, while going away.. Bye
@vksony.... are you using Trial Version....
If yes then it doesn't save data...
Thanks a Lot sir.
@sam in bar section the value is 1000 should i change it
my view about X wave on upside:
It occurs bcoz it happens after lot of visible pessimism and due to that any
pause is shorted by market participants, so rally continues till
all bears are trapped.
@satheesh..... You uploaded your Avatar....
Very Cute Baby.....:)
Namaste Ilango Sir and JN Family.
vksoni said...
@sam in bar section the value is 1000 should i change it
No... not required..
thanks sam
Dear Fire
you have posted a chart of RIL on your blog which is
quite an eyeopener. it speaks volumes. let us see what
and how and when it speaks
thanks
Gm Ilango Sir and friends
Satheesh: is that ur photo of ur childhood or ur daughter? :)
Ilango sir, i want your personal opinion on the
effectiveness of EW analysis to trade in market.
In late 2008 and 2009 I wasted a lot of time trying to learn and implement Glenn Neely Neowave analysis but couldn't make money. Instead I lost money that I hadmade in the previous years. I feel that EW can be applied to past market but not to present/future market analysis.I feel this way because EW creates expectations in us and you know that expectation is very very bad for traders.
Your thoughts sir...
-Pradeep PM
Thanks sam :)
@Prabhat
http://imageshack.us/photo/my-images/23/infosysreadyforbreakout.png/
@ DR sir,
https://picasaweb.google.com/106663080353663618066/January112012
just for fun.
@ ramcharan
:) - My Brother in law's grand daughter -so My grand daughter too :) My daughter is in +2
@SAM: I visited your blog & downloaded the latest excel sheet from Nishant. But is is password protected wherein the blog talks about sending mail to him to received the password. Mails also sent, but I did not receive any reply. Do you by any chance have the password to open it?
satheesh :)
satheesh
correcttion read +2 as 2nd standard :D
New Post Done.
OK Sam. Mynac & me had commented here what we know
little.
Master & Market is Supremo here. We need to listen to both
what they want to say...
DR, from your blog, seems all longs are closed for now. Are you expecting some correction to get long again ?
@ pankaj shukla sir any long term target on
rcom
thanks n advance
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