Charts for the Day

A

anil_s_trivedi

Well-Known Member
#2,662
#2,662
anilnegi said:
Anil ji
Some of question arises in mind seeing your chart, pls reply in your free time

1. You are trading hourly (any specific reason) i.e not daily or not weekly,
2. you keep sl normally 10-20 point away from swing low, how u calculate the points
3. You have booked certain profit at different level why when you have your sl in place
4. Any other open position you have apart from BATa

thanks
Click to expand...
Dear Anilji,

1. You are trading hourly (any specific reason) i.e not daily or not weekly,

I had identified hourly strength coming in Bata,while we are about to break trendline resistance on daily running from 22/1/15 peak - 5/8/15 peak...
so with improving Relative strength on hourly, it was assessed it will likely break TL..so we sitted early in the trade and that too on retracement towards 480 where SL is mere 5 point...

Now if i had to catch it on daily, it would have been at 22/3/15 at nearly 500 or so levels...so that breakout again will have SL coming closer to 475...

This was my short term swing trade, i had clear levels since start of the trade to have travel till 575-580 zone...

I am keeping stoploss on daily EOD basis, although i had shown it on hourly here to have clear view...

2. you keep sl normally 10-20 point away from swing low, how u calculate the points

My stoploss is calculated from ATR methodology but some minor twist to it, so that it cant have same levels matching with other SL positions...also sometimes i adjust it manually considering swing points from the chart...

ATR keep account of volatility consideration so its better to trail with it...

3. You have booked certain profit at different level why when you have your sl in place

Yes i had booked at regular intervals just to keep some profit...its very hard to trade without part booking in it...My experience shows me, part booking keep me in the game and it gives much needed emotional strength to stay in trade for longer for rest of positions...
Also if you observed my booking points also acted as short term resistance zones for prices...so it feels happy, that analysis is going as per plan...

4. Any other open position you have apart from BATa
I had many positions open...one of them i replied early is Marico...this is i holding for longer keeping weekly stoploss in consideration...

-----------------------
Trailing with weekly stoploss requires great sense of patience since that 10-15% fall keep you guessing what is going on...So unless you have some part booking profit in your pocket it is very difficult to trail it on higher timeframes...

Keeping loss positions is easy, but profit positions open actually really put you into pressure and its test real temperament of trader...
 
karthik_sri

karthik_sri

Well-Known Member
#2,663
#2,663
anil_s_trivedi said:
Dear Anilji,


3. You have booked certain profit at different level why when you have your sl in place

Yes i had booked at regular intervals just to keep some profit...its very hard to trade without part booking in it...My experience shows me, part booking keep me in the game and it gives much needed emotional strength to stay in trade for longer for rest of positions...
Also if you observed my booking points also acted as short term resistance zones for prices...so it feels happy, that analysis is going as per plan...


-----------------------
Trailing with weekly stoploss requires great sense of patience since that 10-15% fall keep you guessing what is going on...So unless you have some part booking profit in your pocket it is very difficult to trail it on higher timeframes...

Keeping loss positions is easy, but profit positions open actually really put you into pressure and its test real temperament of trader...
Click to expand...


Excellent wordings Anilji!:clapping:
 
A

anil_s_trivedi

Well-Known Member
#2,664
#2,664
karthik_sri said:
Anilji,
Thanks...Request if you can post the Chart of IDBI with your above comments (when you are free) to get visual feeling!
Click to expand...





Just remember one thing while analysing volumes...
"For Effort(volume) coming in...you need to have desired result(Price moving)...else something else is going on...and price will move other side...its a early warning"
 
A

anil_s_trivedi

Well-Known Member
#2,665
#2,665
nitingosavi said:
Anil sir,
Can you check tatamotors chart ?
Is it a possible short term sell for small tgts ?
Is there a possible HNS like formation ? Or will Itgo up n test broken trend line ?

Another one-tatasteel if possible ..is iit heading towards 300 ? To me 320+- zone looks crucial.
Click to expand...
Dear Nitinji,

TataMotors:

Weekly - Up
Daily - In Sell mode, trend is down

Hourly trend is down resistance at 387.5-390
377-378 is support zone, below it can test till 350...

Looking at chart it seems, price will go sideways here in between 375-390-400 zone...

If rallies failing towards 390 its a weak case...


TataSteel:


Trend going too strong here on higher timeframes...

Weekly - UP
Daily - Down

Hourly down...watch resistance at 327 levels...Below 318 can test towards 300 zone...for intermediate investors its a good zone to go long near to 300-285...a good support zone here...
 
timepass

timepass

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