Diary of a 315 Trader

[trade4putuval]

PS: You trade purely 315... crossover of e3 with e15?

When I started the post, I was a 315 trader with a little of patterns. But then I got to learn ichimoku, now I trade based on 315, ichimoku, patterns and 50 SMA.

 

[prabhsingh]

When I started the post, I was a 315 trader with a little of patterns. But then I got to learn ichimoku, now I trade based on 315, ichimoku, patterns and 50 SMA.

Kindly can you post your analysis for LT please.I have asked this question in one of the thread that according to plain 315 LT was showing lots of whipsaws.Hence would like to know your view for LT.

 

[trade4putuval]

Larsen & Toubro

Kindly can you post your analysis for LT please.I have asked this question in one of the thread that according to plain 315 LT was showing lots of whipsaws.Hence would like to know your view for LT.

Daily
Daily charts shows LT aiming for the double bottom formation, and it is entering the oversold zone too.

See the daily chart below

315:
3EMA is below 15EMA indicating bearish trend.

50 SMA:
3 trading days back, LT price has moved below 50 SMA indicating bearish long term trend.

Ichimoku:
Tenken sen is way above the current price and Kijun is flat. This could indicate a possibility of price bouncing till top of the cloud, i.e. 1636, next week.

In addition, chikou span stands at the price action. The bounceback will keep chikou span above the price action, indicating bullishness, else it will cross below the price action, indicating start of bearishness.

Patterns
Oversold zone supports the indication of double bottom formation. The canary blue line drawn from previous low and the support line drawn from previous lows meets at a point that is also the base of the daily cloud. This is a very strong support for the stock. The price is 1535.





Weekly
Weekly shows the LT tracing nifty very well.

See the weekly chart below

Legends:
Red Lines: Strong resistance
Dark Green Lines: Resistance line from recent highs
Blue Lines: Support lines from recent lows
Canary Blue Lines: Lines drawn along previous peaks illustrated by brown arrows.

315:
15EMA stands at 1592, 2 points above close price. If 15EMA acts as a support, a bounceback could happen here (Low probability). 3EMA could cross below 15 EMA indicating bearishness.

Ichimoku:
Tenken sen, Kijun sen does not provide any direction. But the cloud provides a long step (see the recent red cloud on the left) that indicates a decent support for the price to bounce back. This support line also contains many points where the price had support and resistance in the past. Check the brown arrows (1486).

However chikou span still shows bullishness in long trend since it will have to travel a lot before crossing below the price action.

Patterns
Following points to note.

• Support lines drawn from recent lows is very near to the current price (as indicated by the blue lines).
• So long as the long trend resistance line is not broken, LT trends downwards. The resistance stands at 1675-1650 in the next two weeks. So if we get these prices, we should short in this range.

Overall, the trade range is 1555-1675, before there is any meaningful direction provided by the stock. But if the support (canary blue line) is broken, then we see the price tracing the red arrows shown in the chart, followed by a bounce from the blue support line (1352) heading for the resistance indicating by the dark green line (1950).




Monthly
...

315:
3EMA is still above 15EMA.

Ichimoku:
Nothing to derive from Tenken sen, Kijun sen. Cloud top in monthly stands at 1528. So if the cloud act as resistance, price will bounce back from this price, else the price is poised for cloud bottom, in next 2 to 3 months, i.e. 1434.

Patterns
Currently the candle has formed a bearish piercing pattern. But nothing to derive here.


Strategy
Combined all of the above, go long around 1530-1550 and go short around 1635-1650.

 

[trade4putuval]

Vijaya Bank

Daily Chart:

If yesterday's high is taken out, LHLL will be broken, which means the current trend is broken. So keeping this high as stop, one can go short with a target of 56 to 57.5. This also coincides with the weekly cloud top.

315: 3EMA has just moved below 15EMA, indicating start of bearish trend. But this could also indicate a bounceback from 15EMA.

Ichimoku: Kijun stands at 59, which could indicate a medium support. Other than that, nothing to derive from ichimoku in daily.

Patterns: Support lines drawn from previous lows shows support at 56-57.5.



Weekly Chart:

315: 3EMA still above 15EMA. 15EMA is 57.5, which is in line with other indicators at this price.

Ichimoku: Tenken stands at 58. Kijun is flat indicating price movement towards Tenken sen.

Patterns: Support lines drawn from previous lows shows support at 56 (also monthly Tenken with Kijun flat). From here, it could go up till Ichimoku step indicating by brown arrows. On the other hand, if the support is broken, next strong support is near 45.

 

[trade4putuval]

DLF, there was a large candle that broke through the previous resistance at 250, which means more upside. But then it did go till 280. If we check the weekly cloud, first resistance is at 286, followed by next resistance at 302.2.

So we can go short at 286, but strict stop of 288, because if this is broken, then the next target is 302.2, which is a sure and strong resistance from where you can short with multiple lots.:thumb:

 

[shashank yadav]

so sice 1 year how much u hav earned ?

 

[Stock trendy]

so sice 1 year how much u hav earned ?

VERY GOOD QUESTION..........EXPECTING ANSWER WITH EVIDENCE..:thumb:

 

[Stock trendy]

310..and 340....is on..........sl spot 243 closing .....
Just watch closing above 280... There is no if's and but also no chart and candle.....learn mathematical calculations..........
Charts will surly defuse you and no one will accept it..........
and my dear friend...trade4putuval...so pity... let me see you at 340 DLF
.......:thumb: Good luck........i always wish people create wealth.....

 

[trade4putuval]

so sice 1 year how much u hav earned ?

VERY GOOD QUESTION..........EXPECTING ANSWER WITH EVIDENCE..:thumb:

I am doing good ! And I don't feel the need to provide my earning power !

Stock Trendy, rest of the message is for you alone!

You might be very proud of the way you are earning money. But it doesn't mean that you have to belittle the TA traders. If you are doing good, and people feel genuinely interested in your views, they will automatically follow you. But all your posts looks like you are very desperate for others to follow you. Hence the word "Pity"! I pity you for your need for the TA traders to follow you or at-least leave TA.

You can keep typing as many posts you want after this. I do not care so long as you understand that TA is passion for some people and it cannot be killed with your views.

 

[trade4putuval]

310..and 340....is on..........sl spot 243 closing .....
Just watch closing above 280... There is no if's and but also no chart and candle.....learn mathematical calculations..........
Charts will surly defuse you and no one will accept it..........
and my dear friend...trade4putuval...so pity... let me see you at 340 DLF
.......:thumb: Good luck........i always wish people create wealth.....

Ok Guys :lol:, we got one more person vouching for DLF to go up. You can go long with first target of 286, second target of 302!