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...
57 comments:
Did you follow the "Pre-Mkt plan".????
Did you make use of the "Trade the ranges".????
Did you use "Pivot table"????
Good afternoon Ilango ji and all
@Dear cooldent
Few months back a writeup of ATR along with calculation of range of strength and weakness was posted in jn google groups. Will you be kind enough to send the same either on google groups
or on mail.
Regards and Thanks
June 6, 2013 at 1:50 PM
Ilango Ji,
Yes i did..
Can we say that the downward momentum is comming slowing down as it close above developing LEMA and a EOD close above 5935.
Thanks,
Renju.S
Opened below pivot.
Partbooked when prices started rising from support zones(spported by 50DMA). now waiting for resell, since JNSAR is down..
Please confirm, whether this alternative is correct.:
5916=3 (from the highs of 6134)
5916-5982=a:4
5982-5869=B:4(5982-5884=a;5884-5935=b;5935-5869=c:B)
C in play?
Team,
Do we have any good write ups / doc on identifing false breakout of a channel / support / resistance?
TIA,
Renju.S
2.00PM Update done.
5 waves from the lows done into "resistance" zone.
Keep retrace of 5870 to 5935 ready....
Please do not get carried away by "Intraday trades".
Weekly trend is still "down"; it is the daily which is attempting a reversal.
"5903-5895" are the 50% & 61.8% retrace of today's rise.
SL for the conservative trade taken today (above 5910 NS) is now @5900 NS. 5902 NS is the 50% retrace for the upmove 5870 to 5934 NS. If iv has started from 5870 NS then 50% retrace should hold for the time being.
Above 5940, waves start to sub-divide possibility.
5939 NS golden ratio.
5971 calling like magnet....
Afternoon Everybody
5Dema - 5950.
Master,
There is clear +ve divergence appearing in hrSlow MACD so should Longs be carried overnite?
@Master,
Yes I have traded my plan.
Presently holding intraday shorts with SL @5955 NS
ILANGO SIR you mentioned that above 5940 waves start to subdivide. what is the meaning for that.If you dont mind will pls explain to me
5911 NS is now 50% retrace. My Stop is now @pivot.
Also Master,
Today Higher High Higher Low form every hr
Why Tata motors is falling in a rising market?
@Mr.Anandha,
There is no such files.
Just past observations with
volatility & price action
Anyway the Real Camarilla entry
L3@5910
Partbooking done
and going on with TSL.
Wise trader may avoided L4 after watched
GAPDOWN price actions.
Personally I entered as per XL3@5883.
Sticking to original Formula is more than enough to Win.
If you still wish we can discuss later.
@ bb,
Tatamotors is facing resistance at 511 ranges. it is moving between 5DMA - 310 levels and 10 DMA -304.5 levels Breakout will be only above 312 - 315.For tha past three days fall 10 DMA has been a good support. Breakdown below 10 DMA - Currently @ 304.5 - Till either side breaks it is in trading mode
sir,
I have nifty short pos since 5980. should I exit once for resell or to wait for more weekness in coming days. plzzzzz reply
@ Julius sir,
Thanks for detailed information.
@ Shriram & Ilango,
Do you see the new wave started today in upward moves ? If we look at 2Minute / 5 Minutes charts of Nifty & Bank Nifty, they both looks started new waves today.
someone shorted 24000 NF at 5963
Viral P Rana,
As per my understanding, you can trail your position till 5960-70 NS. Close above 5970 NS would not be good for this down trend.
Pls take suggestion from Seniors & experienced.
@Ilango,
Master along with JNsar, following of pivots is proving really good. For controlled systematic traders like me, who don't really know how to work on support-resistance/discretionary approach..due to fear of opinion. This is proving a worthwhile endeavor :)
Regards
Discipline
NS / Nf below R after , testing 34hr sma
@ master
developing JNSAR for Bank Nifty ?
Thanks Satheesh for a good technical answer :)
FOLLOW OF DAILY PLAN: BOUGHT AT 5870 TARGET 5935 DONE.
HOLDING POSITIONAL SHORT (10 EMA)
@ Anandha : possible , & most probable ...
@ JRJ:
need that cam. formula file. u have a promise to honour now :-)
@ R.S. SUNDARAM,
Waves sub-dividing: I felt the 5th done from 5917 to 5935 but its sub-waves suggested subsequently that within it sub-waves have more sub-waves.
Now it may have done @ 5956.
Remember, labeling minute waves are a challenging task and one needs to be flexible.
Part booking should be done here.
I have to book out as trading only 1 lot.
Now correction is happening more than 16 points.
rajan malhotra
i will search for it
@Mr.Shriram,
Please Check your mail.
My TSL hit for Longs - Bye All.
@cooldent
thanks for being so nice
thanks julius, v kind of u!
"5903-14" is 61.8%-50% retrace of day's rise from 5870 to 5957.
Sir/Sriram
Should the trend be considered as reversed if closing above 5914 as per EMAs?
Or weekly trend being more powerful, should be anticipated to exert (today as well as tomorrow)!
Should we go with second, though disregarding DLEMA rules?
so.. lets summarize,
EOD close will be DLoEMA, & defi. > Dev. WkLoEMA ... 100DEMA has supported. looks like a ST bottom in place as long as 59PE writers maintain todays OI ...
itching to buy again here but will see tomorrow. If iv has happened today then more low going forward.
Dear Cooldent
Many thanks! for reply.
I went through JNSAR write-up several times.
Weekly is firm down. Daily trading below JNSAR indicating down. I am having strong opinion "SELL ON RISE".
Today me sell position at open stopped out -20. Again I have sold at 11.15 and stopped out -20.
It seem I am not able to integrate the pre-market numbers, pivot numbers & intra-day range numbers & make successful decision. Where I stuck, I am not aware. Please let me know how to make the use of these numbers and make the plan or strategy of trades.
sanyasho
to begin with stick to only positional trades with jnsar number. wait for the next jnsar trigger
sanyasho
if u had followed pre market it was a buy at 5870-80 not a sell
it was a sell at 5935-50
sanyasho,
If today's morning down move was v staring from 5935 yesterday then it should not break 5910 NS so quckly. Breaking 5910 NS would be early indication.
I understood today's market this way.
Jai Ho... thanks Ilango sir....
@ sanyasho,
You had written,
"Dear Cooldent
Many thanks! for reply.
I went through JNSAR write-up several times.
Weekly is firm down. Daily trading below JNSAR indicating down. I am having strong opinion "SELL ON RISE".
Today me sell position at open stopped out -20. Again I have sold at 11.15 and stopped out -20."
Your said your opinion is sell on Rise and have shorted at open - was Nifty up in opening?? then what was the reason for selling?
From the pre-market view - pick up the numbers which sir mentions - write down the importance of the numbers -as sir always mentions it. See if those are supports or resistances basically. WRITE THOSE numbers and it will stay in your memory. Find out where those numbers are present in the Tech table.
In today's Premarket view Sir had mentioned aout the 100 MA and 50 MA - Nifty stopped near 50 DMA -moved up - paused near 100 DMA then once the 100 DMA was crossed there was no looking back and it went up to the next resistance level 5935 and from there towards the developing 5 EMA @ 5950 - got resisted and now closed just above Day LEMA.
It is always helpful to get to know the numbers and do paper trade before tradiing with hard earned money. Hope you got some idea now :)
Hi Everyone,
If anybody knows about EMA crossover technical, please share. I would like to learn this.
abhi ...when short term ema crosses long term ema then buy signal is generated n vice versa ...diff analysts apply diff ema ..50/200 ema crossover is for positional trades .some follow 3/13 ..some 5/13...u can find about same on internet .....
Cooldent - am very angry with you :( y left other impt counters?? zinc, copper, crude, and lead. cardamom with bad smell now becoz expiry nearing.
(i know only these counters apart from these i donno anything) :D :) crude is "crude" now
bye all
Dear satheesh,
Thanks for the valuable guidelines.
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