General Trading Chat

[praveen taneja]

ATP is sl now for me Jai Ram Ji KI

 

[Prataap_2013]

US futures show little green but what is Europe and crude up to?

 

[arsh22g]

Arsh,

The question is addressed to ST, and he will respond. But I think it is unfair of a trader who has been on the forum for a bit of time to ask this question. As per charts it is apparent that the trend is down. Would it not be better to wait for the resumption of the main trend to trade comfortably with good RR and charts on yourside?

Sometime back ST had also posted (what I recollect of it) is an experienced trader saying : That most traders lose as they try to fade the trend. Forum can be a great way to imbibe from knowledge and learning from experienced traders - if we reflect on important lessons, post and insight shared and include it in our trading. Otherwise the forum will be only a place to read, post comments and learn nothing (akin to what backbenchers in school would do)

Saying this as your post 34531 @ 10.36 was looking for an upmove, (ignoring the trend) whereas the market gave atleast a 30 point move in the direction of the trend thereafter. What I am trying to convey is that the market will always bounce back a bit against the trend - But please, keep your eyes fixed on the full chart or higher TF. Else, even if the market will give a 100-200 point trending move, you will end up with peanuts or even a loss. Have been there and done that. Trust this of help.

Sir, I understand that, but I am just trying to understand how and when the trend changes, I didn't take a long in the morning chart I posted, was looking for a good level to add to shorts (as per Fib and RSI).

Even now, looking for opportunity to take a trade after covering shorts at 7040. Market just retraced to important Fib levels twice, one on the upside and one downside, trend might turn.

Retracement 1: HOD and LOD

Retracement 2: Local high and low

These retracements provide good entry and exit points if we can confirm the trend change with some other method. What I asked ST was whether it was a valid structure break as price had moved above the support (turning into resistance) zone.

 

[blackberry]

1lot profit taken 7090 every body jumping to buy.Now 1 trail

 

[praveen taneja]

Gaibhians paani mein mera sl bhi le gai
Jai Ram Ji KI
waiting for new entry to short at higher level hope EU would help there No long till final decision on GST

 

[DSM]

Arsh,

Simple thumb rule. I am posting an Excel snapshot of it, to take an entry in direction of the downtrend. It is based on 5M Chart.

Nifty Futures (High) was at open 7,091. Low was at 7,057. Difference = 34 points. 50% of this is 17. So a good entry to short for me was @ 7,074 (High of 7,091-17 or Low of 7057+17) The market retraced to 7,079 so I got my desired entry with a good RR.

This is a very simple way of deciding level to enter a trending move. It can be used in any timeframe. Other chartpatterns along with this can give a confirmation. My 2C.

Sir, I understand that, but I am just trying to understand how and when the trend changes, I didn't take a long in the morning chart I posted, was looking for a good level to add to shorts (as per Fib and RSI).

Even now, looking for opportunity to take a trade after covering shorts at 7040. Market just retraced to important Fib levels twice, one on the upside and one downside, trend might turn.

These retracements provide good entry and exit points if we can confirm the trend change with some other method. What I asked ST was whether it was a valid structure break as price had moved above the support (turning into resistance) zone.

 

[Smart_trade]

Sir, I understand that, but I am just trying to understand how and when the trend changes, I didn't take a long in the morning chart I posted, was looking for a good level to add to shorts (as per Fib and RSI).

Even now, looking for opportunity to take a trade after covering shorts at 7040. Market just retraced to important Fib levels twice, one on the upside and one downside, trend might turn.

Retracement 1: HOD and LOD

Retracement 2: Local high and low

These retracements provide good entry and exit points if we can confirm the trend change with some other method. What I asked ST was whether it was a valid structure break as price had moved above the support (turning into resistance) zone.

12:05 pivot high was a pivot high in definative area above ERL so when that pivot gets taken out on the upside, there is a possibility of change of minor trend to up.Even after this, the minor uptrend may fail and the bigger downtrend may reassert as any trend in its infancy is prone to reversal and hence we have to trade it with caution.Similar minor uptrend was there yesterday too but soon it failed and the larger downtrend reasserted itself.

Many people try to pick the bottoms and tops against the trends...some time they succeed but most of the time they fail ( they wont admit it though) .I as a trend trader always let the trend start and then take the position in that direction and I found that it is a right thing for me in the long run than trying to predict market reversal and trading on hope.

Smart_trade

 

[traderniftybank]

the rise seems to be a trap for retailers and to trigger sl of shorters.

 

[praveen taneja]

the rise seems to be a trap for retailers and to trigger sl of shorters.

apna sl uda 7066 shorted again at 7090 kya trap karega koi babaji ke chelon ko jai ram ji ki:rofl:

 

[praveen taneja]

new lod de de baba