Learning to catch High Probability Breakouts

[sunny_cool]

Not feeling comfortable in catching falling knife...I think its better to buy expensive rather than being risky

TOUGH CALL.... opting to stay away from longs

BANKNIFTY ~ WEEKLY

Will be interesting to watch this point (if it comes)
Don't want to guess bottom or turning point....Can play for good RR

 

[nitingosavi]

Not feeling comfortable in catching falling knife...I think its better to buy expensive rather than being risky

TOUGH CALL.... opting to stay away from longs

same thing i am fighting with... but will opt for buying. with very small s/l.

 

[Sunnyraj]

Hello everyone. I have a query regarding buying at supports.

Taking an example of a chart posted by of the members.Here if prices approaches support, there can be two possibilities, either it will bounce or it will break the support if there is selling pressure

At the same point we can see there is a trendline approaching and downward sloping channel support.

Now here my question is :

1.Does buying at supports with strict SL could be the strategy ( But i agree it can be risky as pointed in recent post by sunny_cool)

OR

2.One should wait for a higher swing low, so as to get clear idea of trend.

Other members and seniors plz share your views, how do you handle such a situation.

 

[sunny_cool]

Now stop it....it hurts :rofl:

took very small position :annoyed::annoyed::annoyed:

This is what trading is all about... tests ur psyche & discipline...

U fail or pass...U get what u deserve

Not feeling comfortable in catching falling knife...I think its better to buy expensive rather than being risky

TOUGH CALL.... opting to stay away from longs

 

[nitingosavi]

looks like a star for tomorrow !

tatasteel fut daily live...

 

[nitingosavi]

Don't you have the habit of booking partial profits?
If you are trading futures,surely you can book partial profits if trading multiple lots.

Or you should start trading in cash so that you are able to book partial profits.

Amit sir,
I trade in futures only and multiple lots.
but yesterday it was just 1 lot each... was sure abt rally.. but was afraid sol when those futures rised i moved s/l to cost with no intention to book in between but to avoid risks.

today... when traded again all those stock futures given me good money. still carrying banknifty but booked PNB DLF SBI futures.

 

[amitrandive]

Hello everyone. I have a query regarding buying at supports.

Taking an example of a chart posted by of the members.Here if prices approaches support, there can be two possibilities, either it will bounce or it will break the support if there is selling pressure

At the same point we can see there is a trendline approaching and downward sloping channel support.

Now here my question is :

1.Does buying at supports with strict SL could be the strategy ( But i agree it can be risky as pointed in recent post by sunny_cool)

OR

2.One should wait for a higher swing low, so as to get clear idea of trend.

Other members and seniors plz share your views, how do you handle such a situation.

Depends on your time frame of trading.

I had also clarified this earlier, you cannot trade a weekly chart any time in the week between.The Weekly candle can change structure and colour any time in the week.A Weekly candle is finalised after Friday EOD.

Better to trade on the basis of a daily candle, A weekly or monthly chart is used to gauge the trend.

 

[amitrandive]

Amit sir,
I trade in futures only and multiple lots.
but yesterday it was just 1 lot each... was sure abt rally.. but was afraid sol when those futures rised i moved s/l to cost with no intention to book in between but to avoid risks.

today... when traded again all those stock futures given me good money. still carrying banknifty but booked PNB DLF SBI futures.

I strongly suggest to trade in cash , if you are trading intraday.

As it is the lots sizes are changing from next month,so margins and losses may be heavy in futures.

 

[amitrandive]

Spot Nifty

Daily Chart of Spot Nifty

Weekly Trendlines/Support/Resistance=Blue Colour
Daily Trendlines/Support/Resistance=Yellow Colour

A bounce off the trendline in Nifty.Need to see whether this bounce is a reversal,a short covering or a dead cat bounce.

Just added a middle trendline(like a median) in between the two trendlines to see how it works.

 

[Rish]

Spot Nifty

Daily Chart of Spot Nifty

Weekly Trendlines/Support/Resistance=Blue Colour
Daily Trendlines/Support/Resistance=Yellow Colour

A bounce off the trendline in Nifty.Need to see whether this bounce is a reversal,a short covering or a dead cat bounce.

Just added a middle trendline(like a median) in between the two trendlines to see how it works.

Nifty bounce back, because, mirror image of USDINR hit top band yesterday. Both reversing in opposite Direction.

Rally may not sustain beyond (if it goes) 7994. Again there USDINR will take support and depreciate.

Study the USDINR Chart, you will get the message.

The above view is my personal view based on experience, it may be wrong also. Above information is for study purpose.