General Trading Chat

[travi]

Yes but the OI at 8200 is only 26 lacs and OI at 8100 is at 27 lacs as opposed to 8000 pe at 73 lacs. Thats a significant difference. While it may be bullish for the day, for the market to become overall bullish, at least OI for 8100 pe should far exceed the OI at 8000 pe. Am I right here?

Let us see how it develops over the next few days. We still are in November. So lots of time left.

Sir, How far higher do you see the market going?

Thanks!

Yes you're right.
Strong support more apparent at lower levels than current 8150.
Will see, for now just trading trend, Dec will be choppy, volatile etc

 

[ap*]

The next shock will be when all the auto majors come out with their sales figures for the month. Hero and Maruti will hit nifty hard .

 

[Just-Trade]

NF has shown weakness today. Likely to open with a gap down tomorrow with the bearish sentiment. NF may likely to fall tomorrow.

Just-Trade

 

[vsaran]

Friends,
Can anybody explain H1,H2,L1,L2 and micro trendline of Al Brooks which I am not able to understand? Preferably with current nifty charts in simple language.Thanks.

 

[XRAY27]

Friends,
Can anybody explain H1,H2,L1,L2 and micro trendline of Al Brooks which I am not able to understand? Preferably with current nifty charts in simple language.Thanks.

Vsaran !!! Just presenting my possible understanding of Albrooks !!!!

A micro trendline is a trendline that is drawn across two to 10 bars where most of the bars touch or are close to the trendline, and then one of the bars has a false breakout through the trendline. This false breakout sets up an entry with the trend (usually a High 1 or a Low 1). If it fails within a bar or two, then there is usually a countertrend trade where the initial trendline breakout pulled back and now is providing a breakout pullback entry.

 

[travi]

Will pre-open highs get sold into ? last 3 sessions are very choppy.

 

[TraderRavi]

RBI policy on 6th dec/tuesday , 3 more sessions to go , may be some upside till then . yesterday nifty index faced resistance at 8200 , lets see what happens today.

 

[rajesh.singh]

Vsaran !!! Just presenting my possible understanding of Albrooks !!!!

A micro trendline is a trendline that is drawn across two to 10 bars where most of the bars touch or are close to the trendline, and then one of the bars has a false breakout through the trendline. This false breakout sets up an entry with the trend (usually a High 1 or a Low 1). If it fails within a bar or two, then there is usually a countertrend trade where the initial trendline breakout pulled back and now is providing a breakout pullback entry.

XRAY,
HI& H2 are pb with trend entries in Uptrend & vice versa for LI&L2 in downtrend not the other way round.
More details one can find in this old PDF file. Hope this helps.

 

[rajesh.singh]

Vsaran !!! Just presenting my possible understanding of Albrooks !!!!

A micro trendline is a trendline that is drawn across two to 10 bars where most of the bars touch or are close to the trendline, and then one of the bars has a false breakout through the trendline. This false breakout sets up an entry with the trend (usually a High 1 or a Low 1). If it fails within a bar or two, then there is usually a countertrend trade where the initial trendline breakout pulled back and now is providing a breakout pullback entry.

XRAY,
HI& H2 are pb with trend entries in Uptrend & vice versa for LI&L2 in downtrend not the other way round.
More details one can find in this old PDF file.
https://www.dropbox.com/s/6po05q6orfl659p/Setups.pdf?dl=0

Hope this helps.

 

[vagar11]

Friends,
Can anybody explain H1,H2,L1,L2 and micro trendline of Al Brooks which I am not able to understand? Preferably with current nifty charts in simple language.Thanks.

http://fifty2weekhi.blogspot.ie/2012/01/notes-on-al-brooks-price-action-trading.html