Day Trading Futures

[Somatung]

Summary of triangle trading today:

 

[manishchan]

good trading bro

:clap::clap::clap:

only the 2nd exit was little too early

keep it up

Thanks anvy. Yes it was early becoz the big green candle scared me and I got out looking for long

 

[timepass]

+3

Date		Opening	Profit/loss	Closing
29-Jan		16724	+1005		17729
28-Jan		15140	+1584		16724
27-Jan		14981	+159		15140
24-Jan		15132	-151		14981
23-Jan		16317	-1185		15132
22-Jan		16333	-17		16317
21-Jan		15718	+615		16333
20-Jan		15491	+227		15718
17-Jan		15964	-473		15491
15-Jan		17237	-1273		15964
14-Jan		17012	+225		17237
13-Jan		18168	-1156		17012
10-Jan		17524	+644		18168
09-Jan		17101	+423		17524
08-Jan		16752	+349		17101
07-Jan		16593	+159		16752
06-Jan		17189	-596		16593
03-Jan		17583	-394		17189
02-Jan		23046	-5463		17583
01-Jan		22808	+238		23046

 

[Somatung]

As you people give many ideas, here some thing about trend lines I like to give back: Two times touched has not much value and each touch more improves the value of any specific trend line. Now look at the next posted chart and what can be seen? During the whole day every, even the faked trend line you see in post 640, was touched at least three times and then some thing happened.

 

[Somatung]

Now here the last chart explanation for today on price action in combination with the triangle pattern. Many thanks to Kiran_thiru to have the patient to let me all that explain on his posted chart. The following chart will spot on the problem you can face by trading triangles on very short time frames. It is as imperfect as every trading pattern on such time frames, so be aware about it and use the idea wisely.

 

[arcus]

SGX Nifty is down 90 points as of now.

Let us see how the Fed outcome pans out.

This is uncle Ben's last Fed meeting. Next it will be Mrs. Yellen!

 

[a1b1trader]

Now here the last chart explanation for today on price action in combination with the triangle pattern. Many thanks to Kiran_thiru to have the patient to let me all that explain on his posted chart. The following chart will spot on the problem you can face by trading triangles on very short time frames. It is as imperfect as every trading pattern on such time frames, so be aware about it and use the idea wisely.

Thanks Somatung
Really your chart reading is a masterpiece.
Do not have words to describe it.

A suggestion
Why not you open a separate thread and give us some intelligence for chart reading, as and when you get time for it, may be in the weekend

BTW
What shall be the ideal time frame for triangle trading.

 

[augubhai]

Hi Somatung,

I get the feeling that this is the extra innings - where commentators analyze each and every ball after the match is over :lol:

but really good analysis, though....

 

[arcus]

Hi Somatung,

I get the feeling that this is the extra innings - where commentators analyze each and every ball after the match is over :lol:

but really good analysis, though....

Every great athlete analyzes each and every match.

For each hour of play a chess champion like Viswanathan Anand plays, he analysis each move for several days in post game analysis!

If you don't analyze post match and learn from it, you are bound to fail in your next match!

 

[Somatung]

Thanks Somatung
Really your chart reading is a masterpiece.
Do not have words to describe it.

A suggestion
Why not you open a separate thread and give us some intelligence for chart reading, as and when you get time for it, may be in the weekend

BTW
What shall be the ideal time frame for triangle trading.

@A1b1trader

Thank you for your very kindness words about my price action knowledge. You people give, so I thought I will give back. Nothing special, just a way I can do.

Your suggestion: Will think about it, other wise will further take charts you post from your market.

Ideal time frame for triangles: What ever time frames fits your trading in this zone and the risk you can take on or in this time frame. The risk or ability to lose a certain amount of money or the knowledge to handle hedges on those specific levels.