Day Trading Futures
- Thread starter manishchan
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- Tags day trading strategy tsf
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Gardener Son elected St...Stphens College.....GS....
http://abpnews.abplive.in/ind/2014/08/25/article386807.ece/Gardner-son-create-history#.U_s5KsWSyOs
http://abpnews.abplive.in/ind/2014/08/25/article386807.ece/Gardner-son-create-history#.U_s5KsWSyOs
Very good question Amandeep.
To find proper entry in above chart first we need to analyze/understand market sentiment through candlesticks.
After a sale off candle 1 showing profit-booking which pushing price up. That is why candle 1 and next to it gave
little pullback and fresh Bears entered in next selling round. Then again at Candle 2 same thing happened but at
Candle 3 Bears not able to close below 'Candle A' (prior to Candle 2)
Now here sentiments are changing, either Bears are not confident enough to push price down or Bulls are entering
in that price zone which created Candle 3 (Hammer) Candle 4 engulfs previous 3 candles which confirming Bulls have entered
but still not able to push price above candle A. Now BOF setup is in the making but still need conformation.
Next 2 candles pushed price higher than candle A but now previous support become resistance and Bears are not willing
to close above so they are pushing price down and there formed Doji as tough fight between Bulls and Bears.
Still no conformation, will wait for next information.
In next candle Bears pushed price down but failed to close below candle 4. Now need to be alert for next candle.
And here comes the Bulls taking price above previous red candle and able to close above candle A.
This confirms TST and BOF setup and Entry Signal.
I take very less trades on Break outs because risk is more of failure.
My entry would be as near as possible at support i.e. near 18 with S/L few ticks below candle 3 Low.
So that if I win I win more and if I loose I loose less. I have marked my possible targets also.
I know it's become very lengthy but all you know problem,
I am very very, super duper, extra ordinary (POOR) in English writing.........
To find proper entry in above chart first we need to analyze/understand market sentiment through candlesticks.
After a sale off candle 1 showing profit-booking which pushing price up. That is why candle 1 and next to it gave
little pullback and fresh Bears entered in next selling round. Then again at Candle 2 same thing happened but at
Candle 3 Bears not able to close below 'Candle A' (prior to Candle 2)
Now here sentiments are changing, either Bears are not confident enough to push price down or Bulls are entering
in that price zone which created Candle 3 (Hammer) Candle 4 engulfs previous 3 candles which confirming Bulls have entered
but still not able to push price above candle A. Now BOF setup is in the making but still need conformation.
Next 2 candles pushed price higher than candle A but now previous support become resistance and Bears are not willing
to close above so they are pushing price down and there formed Doji as tough fight between Bulls and Bears.
Still no conformation, will wait for next information.
In next candle Bears pushed price down but failed to close below candle 4. Now need to be alert for next candle.
And here comes the Bulls taking price above previous red candle and able to close above candle A.
This confirms TST and BOF setup and Entry Signal.
I take very less trades on Break outs because risk is more of failure.
My entry would be as near as possible at support i.e. near 18 with S/L few ticks below candle 3 Low.
So that if I win I win more and if I loose I loose less. I have marked my possible targets also.
I know it's become very lengthy but all you know problem,
I am very very, super duper, extra ordinary (POOR) in English writing.........
:clap::clap:
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