Analysis of charts - discussion share ur views

[vishalalluri]

List of stocks would keep a track on 5th october based on this setup

aditya nuvo
alkalimetals
ispatindustries
kakatiyacements and sugars ltd

 

[prasadam]

hi vishal.

how about using BB for scaling in & scaling out.

that way you need not change your set up, which by itself looks profitable.

hi savant sir

First i wana say I am overwhelmed to see ur post here :rofl:

thanks for the correction in the system but sir what i had given in the system was not based on bollinger band upper or lower piercing but just the conditons which i had talked about

but now after ur post i think another condition to add on would be to check on bb piercing and next candle also to enter early stages , as a novice im jusr making a system to trade so would be improving each day

looking forward for more help

 

[vishalalluri]

hi vishal.

How about using bb for scaling in & scaling out.

That way you need not change your set up, which by itself looks profitable.

hi prasadam

could u tell me how exactly do we do scaling i have heard a lot about it

what i kno is adding postions with the trade

I WANA KNOW MORE ABOUT SCALING PLEASE IN DETAIL

 

[prasadam]

hi vishal.

yup. scaling in is adding to positions and scaling out is part profit booking.

Now, coming to BB & your set up, we initiate the trade on lower BB piercing followed by a green bar as suggested by Savant. Then add to our positions on the buy signals given by your set up. Take out partial profits on the piercing of upper BB followed by red bar. and final exit again based on your set up.

Reverse for short trades.

All the while keeping an eye on position sizing & money management.

 

[vishalalluri]

hi vishal.

Yup. Scaling in is adding to positions and scaling out is part profit booking.

Now, coming to bb & your set up, we initiate the trade on lower bb piercing followed by a green bar as suggested by savant. Then add to our positions on the buy signals given by your set up. Take out partial profits on the piercing of upper bb followed by red bar. And final exit again based on your set up.

Reverse for short trades.

All the while keeping an eye on position sizing & money management.

HI PRASADAM

i liked that explanation but have to test it real time

and for scrips where ther is no bb piercing the 3 conditions what i gave in my setup would be enough to watch a next day trade

thnks for your advice it opened my mind more towards the whole setup

as of now money management i have not worked a lot on it


i rarely use any exposure given by my broking firm sometimes though i use 3 time exposure to the maximum
this way i exit early if my trade goes the other way and i enter the market only when i get a strong signal

thnks a Ton again

 

[asnavale]

hi vishal.

yup. scaling in is adding to positions and scaling out is part profit booking.

Now, coming to BB & your set up, we initiate the trade on lower BB piercing followed by a green bar as suggested by Savant. Then add to our positions on the buy signals given by your set up. Take out partial profits on the piercing of upper BB followed by red bar. and final exit again based on your set up.

Reverse for short trades.

All the while keeping an eye on position sizing & money management.

Hi Prasad,

I want one clarification about BB piercing:

A) Upper BB piercing followed by Red Bar: Should the Bar which pierced BB (just before the incoming red bar) be Green? Should its Close be above BB?

B) The reverse of above. Should the Bar which pierced Lower BB (Just before the incoming Green Bar) be Red? Should it Close inside the lower BB?

Thanks in advance

-Anant

 

[SavantGarde]

Hi Anant,

a) For Upper BB Piercing It Should Be Green & Ideally Should Close Somewhere Touching The BB...Meaning The Body Of The Candle Touching The BB At Close.

b) For Lower BB It Must Be Red....& Ideal Situation Being Some Part Of The Candle Body Touching BB At Close.

Happy & Safer Investing

SavantGarde

Hi Prasad,

I want one clarification about BB piercing:

A) Upper BB piercing followed by Red Bar: Should the Bar which pierced BB (just before the incoming red bar) be Green? Should its Close be above BB?

B) The reverse of above. Should the Bar which pierced Lower BB (Just before the incoming Green Bar) be Red? Should it Close inside the lower BB?

Thanks in advance

-Anant

 

[vishalalluri]

Hi Prasad,

I want one clarification about BB piercing:

A) Upper BB piercing followed by Red Bar: Should the Bar which pierced BB (just before the incoming red bar) be Green? Should its Close be above BB?

B) The reverse of above. Should the Bar which pierced Lower BB (Just before the incoming Green Bar) be Red? Should it Close inside the lower BB?

Thanks in advance

-Anant

i feel so joyous to see posts from senior members in this thread

anant sir


looking forward to meet u sirr

as per my knowledge
a) upper band piercing would be green and more than 3/4rth of the bar has to be out and then followed by a red bar outside the upper band would be the exit and not necessarily the close has to be inside
b)viceversa

i hope you dint mind me answering but was just tryiing to share what i know

prasadam sirs reply would enlighten more on this query .

 

[vishalalluri]

Hi Anant,

a) For Upper BB Piercing It Should Be Green & Ideally Should Close Somewhere Touching The BB...Meaning The Body Of The Candle Touching The BB At Close.

Happy & Safer Investing

SavantGarde

savant sir what should be our intepretation after the green candle if the red candle close is not touching the bb .thats also reversal signal rite

 

[prasadam]

hello Anant.

the operative word is piercing.

In an uptrend, a green bar should pierce the upper Band and the following red bar should also pierce the upper band and should close inside the bands, (which indicates weakness in the uptrend, because price tried to move up but could not as selling pressure pulled down the price)=> this set up will give maximum pull back, i.e, generally will result in price touching lower bands.

Reverse is true of lower band piercing.

some times we see, this green and red combo in uptrend, but not touching the upper bands. in such cases pull back will be weak and price may retrace up to central line only.

These are my observations.

cheers.

Hi Prasad,

I want one clarification about BB piercing:

A) Upper BB piercing followed by Red Bar: Should the Bar which pierced BB (just before the incoming red bar) be Green? Should its Close be above BB?

B) The reverse of above. Should the Bar which pierced Lower BB (Just before the incoming Green Bar) be Red? Should it Close inside the lower BB?

Thanks in advance

-Anant