General Trading Chat

[TraderRavi]

After 17900 which is already weak, 17500 is next stop of may-jun.

and in nifty ? next 7800/7900 ?

 

[Smart_trade]

Da,
Good morning. How do you determine the beginning or end of time correction? Often in intraday time correction SL gets taken out, so when we sense time correction should we get out or stay in, when to do which?

Correction are price correction and time correction.The price damage is more in price corrections but in time corrections the price damage is not much but market spends lots of time in sideways with down bias in present nifty case.In intraday there are many signs indicating that the down move is exhausting, l remember having written a post giving 8-10 points.

As the market does not want to do lot of price damage,after a downmove,it goes up to retrace the distance and in this process the stops get hit...so here booking profits on steep downmove and re entering on correction works better. There is no perfect solution to this problem and traders based on their views of the market try to extract maximum from the price move.Best traders also don't catch tops and bottoms of the move every time....but they try to achieve the best.

Smart_trade

 

[travi]

and in nifty ? next 7800/7900 ?

Yes Bhai, around 7700-7800 was the range at that time.

 

[wisp]

Correction are price correction and time correction.The price damage is more in price corrections but in time corrections the price damage is not much but market spends lots of time in sideways with down bias in present nifty case.In intraday there are many signs indicating that the down move is exhausting, l remember having written a post giving 8-10 points.

As the market does not want to do lot of price damage,after a downmove,it goes up to retrace the distance and in this process the stops get hit...so here booking profits on steep downmove and re entering on correction works better. There is no perfect solution to this problem and traders based on their views of the market try to extract maximum from the price move.Best traders also don't catch tops and bottoms of the move every time....but they try to achieve the best.

Smart_trade

Da, so Banknifty has given a hammer in 15 min off of 8th July lows, but....to be or not to be is a question with no answer I guess

 

[rkripal]

Read these rules every morning before you start trading.

 

[NoviceStockTrader]

Nifty spot enters the next Chop chop shop. Big PE floor sits at 8000.

 

[travi]

Correction are price correction and time correction...
Smart_trade

:clapping: After time correction, when FII have toured the whole world in business class due to the cyclic nature of markets, they will realize there is no significant gain in the so-called Trump rally etc and will come back here :rofl::rofl:

 

[phoenixbird]

Correction are price correction and time correction.The price damage is more in price corrections but in time corrections the price damage is not much but market spends lots of time in sideways with down bias in present nifty case.In intraday there are many signs indicating that the down move is exhausting, l remember having written a post giving 8-10 points.

As the market does not want to do lot of price damage,after a downmove,it goes up to retrace the distance and in this process the stops get hit...so here booking profits on steep downmove and re entering on correction works better. There is no perfect solution to this problem and traders based on their views of the market try to extract maximum from the price move.Best traders also don't catch tops and bottoms of the move every time....but they try to achieve the best.

Smart_trade

sir, if u dont mind could u repost those 8-10 points. Not immediately, whenever u get time.

thanks

 

[STRATEGICINVESTMENTS]

Daily chart with imp support and channels. Also checking imgur

 

[TraderRavi]

Nifty spot enters the next Chop chop shop. Big PE floor sits at 8000.

fight for 8000 spot