My charts (and yours too........)
- Thread starter babukraman
- Start date
- Tags inv hns sffp wipro
Thats just what i call a candle with OPEN = LOW, in itself means nothing but is a good confirmation for entering a momentum trade on a good pattern.
[would strongly recommend "Japanese Candlestick Charting Techniques - Steve Nison" in case you havent already read it]
in this case that didnt happen, prev. top acting as a reistence. hence the *RULE* - entering if prev top breached on a **CLOSING BASIS** [Last candle is Intraday]
[would strongly recommend "Japanese Candlestick Charting Techniques - Steve Nison" in case you havent already read it]
in this case that didnt happen, prev. top acting as a reistence. hence the *RULE* - entering if prev top breached on a **CLOSING BASIS** [Last candle is Intraday]
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JUST a follow up msge.. as I am happy my guess is succefull!!
ABAN fut todays HIGH.. 874.5... closed @ 864..
hope will do next targets also !!
ABAN fut todays HIGH.. 874.5... closed @ 864..
hope will do next targets also !!
posting ABAN fut continuous chart as i found its interesting & ....
this is the method i use to trade options plz correct me whereever i am wrong.
Now see this chart... only price/volume chart
sry its a continuous chart of ABAN fut a volatile instument to trade...
if your trade is correct you will earn handsome in short time else your s/l is gone with the wind.
I am OPTION_FAN but realy dont know the details / technics (delta...etc) abt options.
what I can see here..
It can go arround 1050-1100 by dec 3rd or 4 th week (latest) if suggested s/l( in precise terms-the s/l which I seen on chart) held. and it may go back to 880-900-920 in this month itself. as it is upper limit of the horizontal channel shown 750-920 range. todays candle strenghthened my view for me as its a long legged hammer type, almost retested channel support. volume is decreasing in current fall so downside in this wave may end within the channel. and it may retest upside of the channel and if we are lucky
:rofl: will have breakout !!
now abt my trade.. I will go with 800-820 call NOV cmp(LTP) 31 & 26 respectively ( this will cost me less than the s/l if I traded fut, which i derived from my half-knowledged-TA skills another reason I never carry fut for next day.. SAD JAN 2008) and easily/probably they will be get me 50%-200% profit. I never w8 for profit fot long time. i always try to take back my capital at fastest possible pace... and so never trade in single lot of option. remaing qty stands for me for positional/probable tgt and its premium free !!
so tgt for options never matters for me....
its just a guess/assumption.(shhhh... dont laugh)!
I Trade naked calls or puts..... no hedging no strategy.. as i dont understand it well
(pl. note. ABAN has very less liquidity in options.......for my 2-3 lots its OK !!)
this is the method i use to trade options plz correct me whereever i am wrong.
Now see this chart... only price/volume chart
sry its a continuous chart of ABAN fut a volatile instument to trade...
if your trade is correct you will earn handsome in short time else your s/l is gone with the wind.
I am OPTION_FAN but realy dont know the details / technics (delta...etc) abt options.
what I can see here..
It can go arround 1050-1100 by dec 3rd or 4 th week (latest) if suggested s/l( in precise terms-the s/l which I seen on chart) held. and it may go back to 880-900-920 in this month itself. as it is upper limit of the horizontal channel shown 750-920 range. todays candle strenghthened my view for me as its a long legged hammer type, almost retested channel support. volume is decreasing in current fall so downside in this wave may end within the channel. and it may retest upside of the channel and if we are lucky
:rofl: will have breakout !!now abt my trade.. I will go with 800-820 call NOV cmp(LTP) 31 & 26 respectively ( this will cost me less than the s/l if I traded fut, which i derived from my half-knowledged-TA skills another reason I never carry fut for next day.. SAD JAN 2008) and easily/probably they will be get me 50%-200% profit. I never w8 for profit fot long time. i always try to take back my capital at fastest possible pace... and so never trade in single lot of option. remaing qty stands for me for positional/probable tgt and its premium free !!
so tgt for options never matters for me....
its just a guess/assumption.(shhhh... dont laugh)!
I Trade naked calls or puts..... no hedging no strategy.. as i dont understand it well
(pl. note. ABAN has very less liquidity in options.......for my 2-3 lots its OK !!)
Success From Failure Pattern is SFFP. It's like a HnS pattern where as the RS fails to reach the neck line but reverses at the halfway mark will probably result in an up side rally; or like a channel trading range - after repeated touching and bouncing from R and S of the trading range, suppose if the price fails to touch the line and reverses, then it's a potential reversal.
Hope this helps!
Babu Kothandaraman
In the case of Suzlon, the price was touching 60 R level about four times and then a decline and a pullback rally. The current rally isn't touching the 60 R level so far; if it fails to touch the R level and reverses from here, then this pattern will be highly rewarding to "short" suzlon; it'll be a successful trade! So, you succeed by identifying the failure of a pattern!
Hope this helps!
Babu Kothandaraman
In the case of Suzlon, the price was touching 60 R level about four times and then a decline and a pullback rally. The current rally isn't touching the 60 R level so far; if it fails to touch the R level and reverses from here, then this pattern will be highly rewarding to "short" suzlon; it'll be a successful trade! So, you succeed by identifying the failure of a pattern!
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