Intraday Trading

[TradingFloor]

Test Log of every Pull back on chart. No Filters.
Data is from 23rd Oct till 8th Nov.

Test Log Results 60 Min

Test Log 15 Min

Test Log 5 Minutes, QTY is showing negative but everything else is correct, some error in Log book I am unable to fix only in this workbook

Test Log 3 Min

 

[TradingFloor]

Experiment 1 : Just trying few things on weekends ( for self study only)

Chart Frequency Daily
Red Lines - Where Selling Came
Yellow Lines Where Buying Came
(Is It Possible to predict these points?: Answer No)

Few Points that can be derived by looking at the chart

* Price is in UT in Daily and currently undergoing a pull back

* This pull back can be deep or a quick Reversal, so based on Current Price action shorts should be taken on TTF ( LTF) , however keeping in mind that any signs of reversals on daily, shorts should be stopped and positions to be converted to long.

* 242.8 seems which has been tested 3 times already by points 4, 6 , 8 should (may) act as a strong support. This would be a place for low risk high reward trade.

* Point 0 and 2 are unlikely to be tested soon. In case 4,6, 8 is taken price may test that level but chances are very bleak

* Every time price goes to test new high and falls below the previous high it gives good opportunities for STF Charts ( The price is trading under last High) So at present good opportunity to short should be there as how the price is behaving

* Points 3, 5 , 9 acting as resistance. But all shorts attempted are CT, So we should Take shorts with very strict SL or with reduced QTY or both.

* Points 1 and 7 is a ZIG ZAG zone where price may play flip flop but 242.80- 240 may become as a strong support zone

Step 2: Thinking Of Places to find High Reward and Low Risk trades

Few setups that come to mind are:

* Pivot Breaks / VP Breaks
* Pull Backs when trend is clear
* Trading at S/R
* Famous Indicators, Moving Averages, RSI, Stochastics, MACD, Oscillators, Vortex , B.Brands etc.

 

[TradingFloor]

Pre Market Open: Minor Negative , Flat Open.

 

[TradingFloor]

1 Trade short, 1:4

 

[TradingFloor]

Summary: Correct trade as per system, PPB done a little early but was correct as price was not going down and went minor sideways. Exit as per system. Overall a good Trade

Pre Market Open: Minor Positive open but with negative bias. 247-248 is next support zone where price may halt and move up or go back to test 242

 

[bashasm]

1 Trade short, 1:4

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When you exit as per the TSL, will you take the opposite trade?
As per you, when does the trend change?

 

[TradingFloor]

When you exit as per the TSL, will you take the opposite trade?
As per when does the trend change?

No, I wait for proper entry setup to form

For reversal I check the following Points

* Where is price now ( Near PDH PDL, Major S/R)
* What time is it? if I have ride the entire trend no point taking trade after 2:45 or 3
* Do I get proper entry setup at my zone ( that is rejection failure of a particular price zone)
* My risk reward ratio

* trend change are the ideal setups.

 

[TradingFloor]

1 Trade attempted, Long as price tested PDL and strongly Rejected it but it failed to continue after entry. Direct exit, SL HIT

 

[TradingFloor]

As per you, when does the trend change?

I am not sure what are you are asking here, I will try my best to answer as per what I follow

If price is making HH and HL, I call it UT

If Price stops making HH and HL then its a pause, from here the trend may continue or reverse, so if Price is making same highs and lows trend changed to sideways from here and if price reverses and starts making LH and LL then trend has changed.

Also I consider where the price is trading as the indication of trend

Above day high bullish
Below Day Low bearish
Between- Sideways

 

[bashasm]

I am not sure what are you are asking here, I will try my best to answer as per what I follow

If price is making HH and HL, I call it UT

If Price stops making HH and HL then its a pause, from here the trend may continue or reverse, so if Price is making same highs and lows trend changed to sideways from here and if price reverses and starts making LH and LL then trend has changed.

Also I consider where the price is trading as the indication of trend

Above day high bullish
Below Day Low bearish
Between- Sideways

Thanks, reg the last three lines, did you mean Previous day levels?

The only confusion becomes when the price stops making HH, HL's ( and vice versa) and to the sideways (maybe complex pullbacks )