A new Life, A new Career, A new Dream - I am a Trader

[Taiki]

There is little time now for framing all the rules, so will do it in leisure time.
For the time being

Time frame used are 30M-3M-1M

30M - for determining important S/R levels, Pivots. Or where th market has changed its dirction previously.
3M - This is my trading framework. I check the trend at this chart (Up/Down). Potential trading zone are decided at this level
1M - Once price comes to trading area marked in 3M chart, I will use 1m chart for deciding/optimizing my entry, SL, TSL etc.

Trade Preparation for 1st Aug 2013

Nifty FUT 30 Min Chart

Above is the 30 min chart, The red straight lines indicates the important S/R levels for today. They are ->

On upside - 5785, 5815, 5850, 5900
On downside - 5715

yesterday at 9:30 AM, there is a near dragon fly doji with very small upper shadow. That indicates strength and 5715 is my major support area.

At 3Pm there is an inverted hammer with upper tail almost double in length of the candle body. It indicates selling pressure at 5785-5790.

Nifty Fut 3 min Chart

In 3 min chart, the trend is UP, Higher swing high, and higher swing low.
The price is approaching the S/R line at 5785. Projection has decreased for bulls. So expected price behaviour at this area is either a breakout or a breakout failure.

Below 5760 the up trend will be stopped with the break in swing low. Price may go down to 5730, 5715 level.

Above 5785, our next S/R levels are at 5815, 5850. With strong asian market NF is expected to open with a gap and above my 1st S/R line of 5785. I need to check if the price is sustaining at that level or selling pressure will come in.

Trade Areas for Today

1. Breakout/Breakout failure at 5785
2. Breakout/Breakout failure/Reversal at 5815
3. Breakout/Breakout failure/Reversal at 5850

Regards
Taiki

 

[Taiki]

Nifty Fut opened with a gap up above my 1st S/R level of 5785. The opening range of 5min candle was 5799 to 5819. My 2nd S/R level was at 5815. So my 1st trade was the breakout of 5815.

Entered long at 5820, Stop loss = 5817. Target was 5845. (5845-5850 is the next resistance area as per the S/R)

Exited the long at 5838, with a gain of +18 points.

I tried my best to stay in the trade and trail the SL. But could not do that seeing the swing high formation of NF at 5840 in my trading framework. If this was right or wrong, only after market analysis will tell.

Regards
Taiki

 

[Taiki]

WHOA....

What a fall, And What a miss by me :annoyed:

 

[Gaur_Krishna]

Do you carry the positions or its strictly Intra?

Regards,
Gaur_Krishna

There is little time now for framing all the rules, so will do it in leisure time.
For the time being

Time frame used are 30M-3M-1M

30M - for determining important S/R levels, Pivots. Or where th market has changed its dirction previously.
3M - This is my trading framework. I check the trend at this chart (Up/Down). Potential trading zone are decided at this level
1M - Once price comes to trading area marked in 3M chart, I will use 1m chart for deciding/optimizing my entry, SL, TSL etc.

Trade Preparation for 1st Aug 2013

Nifty FUT 30 Min Chart

Above is the 30 min chart, The red straight lines indicates the important S/R levels for today. They are ->

On upside - 5785, 5815, 5850, 5900
On downside - 5715

yesterday at 9:30 AM, there is a near dragon fly doji with very small upper shadow. That indicates strength and 5715 is my major support area.

At 3Pm there is an inverted hammer with upper tail almost double in length of the candle body. It indicates selling pressure at 5785-5790.

Nifty Fut 3 min Chart

In 3 min chart, the trend is UP, Higher swing high, and higher swing low.
The price is approaching the S/R line at 5785. Projection has decreased for bulls. So expected price behaviour at this area is either a breakout or a breakout failure.

Below 5760 the up trend will be stopped with the break in swing low. Price may go down to 5730, 5715 level.

Above 5785, our next S/R levels are at 5815, 5850. With strong asian market NF is expected to open with a gap and above my 1st S/R line of 5785. I need to check if the price is sustaining at that level or selling pressure will come in.

Trade Areas for Today

1. Breakout/Breakout failure at 5785
2. Breakout/Breakout failure/Reversal at 5815
3. Breakout/Breakout failure/Reversal at 5850

Regards
Taiki

 

[Taiki]

EOD Summary

I did only one trade today in the 1st hour. After that Nifty fell from the clip and then again bounce as if it fell on a trampoline .

Missed both the fall and rise. And decided to stay away from the volatile market.

Trades

3 Min Setup

After the gap opening my trade area was the S/R line at 5820, Nifty's 5 min opening range also lied there. 3 min chart shows the breakout and then the pullback followed. Bought when weakness in pullback came and price was getting ready to resume its upmove.

1 min setup

In 3 min chart the entry candle's long tail indicates support at 5817, so that was my stop loss, with a target of 5845 (next S/R level). But at 5840 NF faced resistance and looking t the candle pattern I exited at 5838.

Net gain for the day = +18 points

A good day, but frustrated for missing out the moves afterwards.

Regards
Taiki

 

[Taiki]

Do you carry the positions or its strictly Intra?

Regards,
Gaur_Krishna

So far I have not carried any position, If the price setup will support over night holding of position, then I wont hesitate in doing so.

 

[trade2411]

In unlimited plan it is 1899 per month + tax.
My breakeven in Nifty fut is 1.14 points.

Thank you and I wish you the same bro, hope today we will recover our yesterday's loss

Regards
Taiki

Which broker are you trading with Taiki ?

 

[Taiki]

Which broker are you trading with Taiki ?

TradeSmartOnline

 

[whisky]

Great Taiki Bhai:thumb: You are going great...

You trade & track only Nifty? Have you tried Bank Nifty?

 

[Taiki]

Great Taiki Bhai:thumb: You are going great...

You trade & track only Nifty? Have you tried Bank Nifty?

Nope brother, tracking only NIFTY