Day Trading Futures

[timepass]

Correction is used to describe a pause or anti-trend move in an ongoing trend.

In a bull market, it describes down moves; vice versa, in a bear market it describes upmoves.

Thanks
And what term is used for
Opposite of correction, ie uptrend

As stated in the original post, it is not used only for down moves in an uptrend; it is also used for upmoves in a downtrend. It describes an anti-trend move, whether up or down, in your chosen timeframe.

Edit : Presently the markets are bull markets, so any down move will be described as a 'correction'.

Re-edit : Experts also use fibonacci retracements to judge the extent of correction.

 

[timepass]

Nifty spot - from 4th Feb :

 

[a1b1trader]

Thanks ST Da
Thanks Timepass bro
for clarifying the confusion

 

[Smart_trade]

Thanks ST Da
Thanks Timepass bro
for clarifying the confusion

Most welcome.

Trends, impulse,correction as we talk are in relation to the timeframe.Larger or smaller picture we are focussing on. If we see daily chart, we are in uptrend and the current downmove is a correction. But if you see 5 min chart, the currect downmove is a downtrend and the intermittant upmoves we had during the day are corrections.

Smart_trade

 

[a1b1trader]

Too much vix.. what's the all time high for vix ?? 36 or something ??

Dont know all time high

But recent high was 36.02 on 30.8.13
Then previous high was 39.02 in October 2011
And high in last 6-7 years was 92.53 in the month of November 2008

For detailed chart, please visit
http://www.investing.com/indices/india-vix-advanced-chart

 

[kiran_thiru]

2 profit trades.
tata steel bought @ 413.30. sold @ 425. 35. 30 shares.
silvermic short @ 42160. closed @ 42006.

starting was good. trying to get more profit trades. if not, hold this profit till end.

sir, in 15 min time frame.



bhai, jokes mat kar.

not covered y'day's loss in equity. but overall covered.

little damaged held for profit in equity because of sbin trade.

wiped commodity profit (mtm only Re.1/-) now. once profit jumped to 300. but sl hits in 2 trades wiped profit.

 

[Smart_trade]

Dow up 124 points , SGX Nifty up 31 [points.

Smart_trade

 

[Somatung]

Dow up 124 points , SGX Nifty up 31 [points.

Smart_trade

16'000 and 16'500 seems to be a range for the moment in the Dow. Looks a bit like 6'650 and 6'800 in Nifty. Take care

 

[TradeJoker]

Dow up 124 points , SGX Nifty up 31 [points.

Smart_trade

looks like a gapup tom'

 

[LivetoTrade]

Happy Birthday

Charlie Chaplin : (16 April 1889 – 25 December 1977)