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[Taiki]

Trade Setup for 7 Aug 2013

30 Min Chart

As per the 30 min chart, on upside resistance stays at 5620, 5680.
On downside support lies at 5500, 5500-5480

3 Min Chart

In 3 min chart the trend yesterday was strongly bearish with very little strength in bulls, I expect bearishness to continue as long as price is staying below 5600-5620.

Global market

With USm UK and Asian markets in negatives, SGX nifty is indicating a positive opening. Nifty may open little up. If weakness in bulls is seen, this will give a good opportunity to go short with 5550, 5500 in target

Trade Area

1. Breakout/Breakout failure at 5620
2. Breakout/Breakout failure at 5550
3. Breakout/Breakout failure at 5500

I need to act as per my plans, ensuring right entry, SL, exit and order execution.

Regards
Taiki

 

[Taiki]

No power since morning. If it does not come in next 2 hours, will have to close the session in middle

 

[Tlahuicole]

No power since morning. If it does not come in next 2 hours, will have to close the session in middle

Hi Taiki,

In previous post you had mentioned about watching US and Europe markets, does this have a great impact on your trading? Just to improve my system am asking this, as I don't watch any of the foreign markets.

Any advice would be appreciated buddy, plz do so..

 

[Taiki]

Hi Taiki,

In previous post you had mentioned about watching US and Europe markets, does this have a great impact on your trading? Just to improve my system am asking this, as I don't watch any of the foreign markets.

Any advice would be appreciated buddy, plz do so..

Hi Tlahuicole,

I watch them only to get an idea how the nifty's opening is going to be. SGX Nifty tells me that. It helps me to prepare in advance and rehearse mentally my trade areas and trade plans. Thats it.

It is like just knowing what movie is being played in your neighbour theatre.

Regards
Taiki

 

[Taiki]

EOD Summary

A good day, did only 1 short trade. But missed the early fall from 5550 (my trade setup area). Thankfully price did comeback to that reagion again where I entered short and got 20+ points.

Trade in 3 Min chart

Trade entry from 1 min chart

After this price tested 5650 several times but no breakout was successful.

Trades

Shorted NF at 5541, Stop loss = 5551, Covered at 5520. Net gain = +21 points

Regards
Taiki

 

[Taiki]

B]Trade Setup for 8 Aug 2013[/B]

30 Min chart

From 30 min chart, on upside resistance stays at 5600 - 5620, 5680.
On downside support lines are at 5515, 5480.

3 min chart

In 3 min chart yesterday NF was in a uptrend with higher high and higher lows. The projection and strength were strong for bulls. But selling pressure came in strongly from 5600 level. I am expecting 5600-5620 to 5500-5515 to be the daily range for NF today.

Global markets

US and UK markets were in negative yesterday, Almost all asian markets are in green today with SGX nifty up by 0.12%. So expecting a mild opening in Nifty.

Trade Area

1. Breakout/Breakout failure at 5550
2. Breakout/Breakout failure at 5600
3. Breakout/Breakout failure at 5515


Regards
Taiki

 

[Taiki]

NF 1 min trend is becoming up slowly, with 3 min chart still maintaining a sideways range of 5545 to 5575. I expect high of the day (5575) will be taken out in later part But need to get the confirmation of that form my chart first. Lets see.

No trades are done so far.

Regards
Taiki

 

[Gaur_Krishna]

Taiki, do you trade only in line with EMA-50 at 3min TF? Can you summarize your rulebook here? (sorry, if you have done in previous posts somewhere)

Regards,
Gaur_Krishna

 

[sachin928111]

dear taiki u sud aim to earn 5 percent per month instead of 10. after achieving this goal u sud tri for more aggressive strategies of 10 or 20 percent.even 5 pc compounded monthly wud give 72 pc returns annually.

 

[krist]

Hi Taiki,
1) in your post #553, in 1 minute chart you say you missed the first short at 5550. Please tell me if 5550 was a resistance level from previous days on 30 min.

2)Also in the area between 1 and 2 pm, 5550 seemed to have offered good resistance. Why did you not enter short there?

3)In post 554, you say on 30 min chart:
"From 30 min chart, on upside resistance stays at 5600 - 5620, 5680.
On downside support lines are at 5515, 5480."
From the 30 min chart you have given, the only value I can find out is support at 5515. Were the other values from previous days or is there something in the chart that I havent learned yet?

Regards
Krist.