Day Trading Futures

[Somatung]

Only to get slaughtered

Or is there maybe a slowly forming "Flag Tilt" chart pattern in the weekly Nifty EOD chart?

 

[a1b1trader]

My observations after following TD Seq and Combo is that after getting a combo top or a bottom 13 a "buy on dip" or a "sell on rise" strategy respectively can inflict serious damage on a persons ledger.

I speak from experience

I never understood this "buy on dip" or "sell on rise" strategy
How long and how much one can buy or sell (as the case may be)

NS recorded a combo 12 as of today .. A close greater than today close would record a Combo 13. Positional shorts could possibly be entered @ tomorrows closing, IF NS records a close greater than 6583.5

I think, TD Seq and Combo is based on closing price, so applied on EOD chart.
So according to it, the fall is likely from tomorrow (26.3.13) and not today.

BTW, if NS closes less than 6583.5 today, then it wont record a combo 13. And then no need to enter shorts around EOD. Am I right.

 

[a1b1trader]

Or is there maybe a slowly forming "Flag Tilt" chart pattern in the weekly Nifty EOD chart?

Sorry
Didnt get that you want to say.
Please elaborate

 

[nirav_j]

I never understood this "buy on dip" or "sell on rise" strategy
How long and how much one can buy or sell (as the case may be)

I took long to 'not understand' it.

I think, TD Seq and Combo is based on closing price, so applied on EOD chart.
So according to it, the fall is likely from tomorrow (26.3.13) and not today.

BTW, if NS closes less than 6583.5 today, then it wont record a combo 13. And then no need to enter shorts around EOD. Am I right.

Yes, 13 is recorded only if close of 25.03 is greater than close of 24.03 ...
Last 30 mins can give a fair idea of the closing .... so one can act accordingly to get an early entry .... or wait for the next day's closing ... of course this would be for April futures for nifty ..

 

[a1b1trader]

I took long to 'not understand' it.



Yes, 13 is recorded only if close of 25.03 is greater than close of 24.03 ...
Last 30 mins can give a fair idea of the closing .... so one can act accordingly to get an early entry .... or wait for the next day's closing ... of course this would be for April futures for nifty ..

Ha ha
But it is still not a falling market. So a buy on dip will do.

Thanks for explaining.
Of course it is for April series.
Further I dont think today's (25.3) close will be higher than yesterday's (24.3).

 

[Somatung]

Sorry
Didnt get that you want to say.
Please elaborate

This is a special flag chart pattern and on the weekly Nifty chart with EOD data it slowly seems to form. Will keep an eye on it. Found it once on this site: http://thepatternsite.com/flags.html as I love flag chart patterns. As always: Market has to confirm it and no reason to harden on this maybe forming pattern.

 

[a1b1trader]

But the problem in the weekly or to say in hourly chart is, that
The so called flag is in rising form/channel instead of falling one

So, IMO, one can not call it to be a flag pattern.
Yeah, this is my understanding
One can differ from my view.

 

[Somatung]

But the problem in the weekly or to say in hourly chart is, that
The so called flag is in rising form/channel instead of falling one

So, IMO, one can not call it to be a flag pattern.
Yeah, this is my understanding
One can differ from my view.

That's what is shown there and this is probably why he calls it: Tilt

Any way: I will keep an eye on it as this would be the first time I see it live in a chart.

 

[XRAY27]

@ST da

How do you trade when markets are at all time high ...is there any special tactics for this...

Please explain in free time

 

[timepass]

Ok.. so Reliance is 3% down in pre-open. Let's see if it pulls everything else down