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...
8 comments:
Reposting from the prior post...
Sir,
I am a newbie here, I just look into JNSAR number along with 21 and 34 HR SMA... I missed the trade when JNSAR gave Short signal a week before. Now I am waiting for it to give BUY again.
Should I only sit and watch? is there any way to join the running train? or is it only for experienced?
Please clarify this doubt, it would help many newbies here..
Many thanks
Guru
@ Guru Krishnan,
I am not the expert anyway, but from my little experience, I can share a little.
JNSAR is a wonderful stuff available to us. It gives direction in a trending market. If you have missed the same - start looking at the hourly chart. There will be a stage where consolidation starts.
Look at either Moving average (21 Hr) or Double top or Daily pivot or Channel top or Bollinger bands, you will see resistance. Even if you don't see it clearly, you can calculate your risk i.e. (CMP - JNSAR) / CMP in taking that position! (Similarly for Long).
Nobody knows when a trend gets over, but everybody knows after a trend, a range (accumulation / distribution) starts. Some are bullish now & some bearish. The best thing for less experienced (like me) to stay out of these periods and enter only when the range breaks!
Hope it helps.
Regards,
Rajib
Thanks Rajib,
Looks like when higher T/F are in "sell on rises" and Day JNSAR is in "Sell" mode, it will be good point to re enter when NIFTY reaches 21 Hrsma??
and when Hour and Day T/T changes colour back to green then its better to wait for JNSAR to hit...
this strategy sounds good? Seniors please help..
Thanks
@Guru
hi, here is my method, which suites me.
i enter 4 lots of nifty when JNSAR hit. book 1 lot profit at each 50 points. but if nifty close above/below day high/low EMA then hold and sit tight with SL of 21 hour SMA. and if nifty close above/below weekly high/low EMA at Friday close, then you will be in bullet train, you must need a good quality of sit belt!!! at last hold last lot till next JNSAR hit and reveres.
be flexible about targets and profits, don't become rigid to except changes in trend after long run in one direction.
i use above method because i am not comfortable with book at supports/resistance and re enter at 21-34hour SMA Because of my profession otherwise its best.
hope this will help you.
thanks.
is dlf a buy now ?
buy dlf around 230 tgt 250- 260,short term pull back is on cards
for a chart please go the this link- pic.twitter.com/FWo2DdB3Dp
Hi Anmpatel...
Thank you so much for your guidance.
Namaste Ilango Sir & Blogmates,
Bearish: Bears are sitting on a huge cushion of resistance ranging from 5700 till 6000, Bulls need to do all the hard work else we could see expiry at the lows of the series..: Option Analysis for 22-03-2013
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Thanks & Regards,
Sanjay Kr Jaiswal
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http://netprofitideas.blogspot.com
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