My daytrading
- Thread starter Raghavacc
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The core of our method lies in drawing Horizontal lines mostly at the end of the day marking Swing highs,lows,gaps, res ,support,breakouts ,Breakout Failures etc.Even I have posted so many charts.
But I am highly surprised that none of you have ever asked anything about this Horizontal lines nor did you post any chart drawing lines.Is it lack of homework or lack of understanding?It will not take much time ,neither much headache.Just draw the lines .They make your trading dead simple.
Here is ICICI last 4 days chart.5 Days chart would have been Ideal.However some problem with TT hence can post only 4 Days chart
Its shows How to trade markets even when it is in sideways.
1.Draw a Horizontal line at major points OF LAST 3-5 days action/Patterns.
2.Then look for reaction at those points.
3.Then decide which way it gives more reward with less risk.
4.Take trade without hesitation.
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Lets analyse chart.
A. price makes double bottom.Breaks neck enter long keeping bottom of pattern+filter as S/L/SAR.
B.It is a point where the price consolidated 1-2 days back and broke down the support.( Not visible in the chart.Support broken now becomes resistance.The price plunges down here beacuse it was a previous support broken now becomes resistance.Think which is better option .To go long or short at this point?S/L-SAR just above the consolidation area.
C. Once price starts falling where is next support.Simply at previous double bottom i.e:A.Now at B think over which is better option .To go long or short at this point?Which is less risky.S/L-SAR just below bottom of pattern+filter . Once the price takes support at C and starts moving up where is next resistance.Obviously at Previous swing High i.e:At B.
D.It is a point where price started declining at Point B.Now again price starts declining.Now assuming that we are in range where is next suppot.Deffinately at Point C where it took off last time.Now lets see what happens.
HL: At this point where I marked as H/L ,it makes higher low means its looking to move up.Lets be neautral by end of the day as we dont have any concrete clue.
E
rice gaps up.Why? because there was a resistance at B and D .The same resistance has been taken out through gap.Now once price gaps up it is important that it sustains that gap.We wait for one hour and gap is sustained.F.Now I have a concrete evidence that Price want to move up as gap is sustained.I open my positions here once price breaks a previous swing high of the current day.Then Almost 22 Rs.move.
Summary: A-B-C-D is a range .
Below is best example of how do I trade sideways market.
THE MOMENT PRICE COMES TO A OR C I TAKE LONGS AS MY RISK IS HARDLY 6-7 RS.
WHAT DO I DO IF THE PRICE BREAKS A OR C DOWNSIDE?.SIMPLE I KEEP SAR JUST BELOW A AND C.IN CASE THE PRICE BREAKS A OR C AND STARTS MOVING DOWN.
WHERE DO I PLACE MY SAR IF THE PRICE BREAKS AOR C AND MY SHORT ORDER IS CAUGHT?.SIMPLE ABOVE THE NECK OF DOUBLE BOTTOM.
REVRESE THE FORMULA FOR LONG TRADES AT B AND D.
THEN LETS TALK ABOUT BREAKING RANGE AND START OF TREND. AT POINT E PRICE BREAKS RANGE UPSIDE I.E:BREAKS A-B-C-D.NOW LOOK FOR SUSTAINING OF PRICE ABOVE BREAK OF RANGE I.E:B-D AND ALSO WE CAN MAKE USE OF OSCILLATORS TO OPEN OR ADD POSITIONS FOR LONG TRADES.
IF YOU THINK I CAN EXPLAIN MORE SIMPLER THAN THIS,THEN I AM SORRY.
Raghavji,
It was you who inspired me to draw the horizontal lines..... which I am trying to do in the other thread....
Thanks for all of your posts...... They are truly wonderful and immensely helpful.... Please keep posting
Generally, I don't like to interfere with the flow of thread..... but this time the urge was irresistible....
With regards,
Aditya
It was you who inspired me to draw the horizontal lines..... which I am trying to do in the other thread....
Thanks for all of your posts...... They are truly wonderful and immensely helpful.... Please keep posting
Generally, I don't like to interfere with the flow of thread..... but this time the urge was irresistible....
With regards,
Aditya
Price action is a vast subject and hence needs a keen eye on each bar and how it is related to the volume.
Above is Nifty 60 Min chart.It reflects a notion that exhaustion bar plays a decisive role for further action.
Bars are numbered and the volume corresponding is shown in arrow mark.
1.Exhaustion bar.WRB with extreme volume.Long lower wicks.This area is a key area as in daily TF as it is the area of last swing low.
2.An inside bar with moderate volume with a positive close.The close of the exhaustion bar now plays a significant role.If the same is cracked downside it may result in great collapse. This notion can be understood in the daily chart I have posted below.
3.Bears try to close the price below the close of exhaustion bar but fail as bulls squeeze it up and close exactly at the close of exhaustion bar.The last bar of the day also was an attempt by bears in vain.The day gets over.Price closes inside the exhaustion bar and more importantly above the close of the exhaustion bar.
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Next day : First 4 bars was an attempt by bulls to take the price above the open of this exhaustion bar.Again bears pull the price down and price reaches the close of exhaustion bar again and
4.Again bears make an attempt but in vain.Volume increases significantly means there are buying interest at that level.A 5 month /six month low attracts many investors and long term traders.Day is over .Bears still could not crack the close of the exhaustion bar downside.
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Next Day:Bar No.6 :Now we get a slight indication that bulls have become more confident and started accumulating after sensing that bears have become little weak.a tweezers bottom with high close with good volume.
Bar No.7:Bears are in no mood to give up.Here they try once again.Similar result.Day is over .Bears still could not crack downside.
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Next day:For consecutive 3 days bulls have held on to line of control (Close of exhaustion bar). Now they know they are in drivers seat .Hence bars 8,9,10 all signal their dominance and the day ends in higher close.Bears could not pull the price even half way down......day is over.
I have drawn 2 blue horizontal lines. One is at opening of the exhaustion bar and another is close of the exhaustion bar. Price trades within those 2 zones for consecutive 3 days (It is what resulted in inside bard on daily TF)which means it has to break the line on either of the sides.Now we know who has dominated for last 3 days .Hence the outcome will be obvious.
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On 24th ,the first hourly bar marked as "A" gets 1.3 crores of volume with close at the high.Where did the bar open .Above resistance ( Above open of the exhaustion bar) Now its more obvious."B" inside bar,bar "C" cracks,bar "D" inside bar , Bar "E" cracks.Even Bar "F" signifies Bulls strength.
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Then one has to look at remote action as that's what gives us the hint of next moves.5 Minute chart during those 3 days depicts higher swing lows or an ascending triangle means price is able to make it to the resistance each time however on the downside each time its making a higher close.Even 30 Min chart exactly replicated 60 Min chart.Such confluences generate big trades and the big money is made in such moves by significant increase in the position size.
Last edited:
Price action is a vast subject and hence needs a keen eye on each bar and how it is related to the volume.
Above is Nifty 60 Min chart.It reflects a notion that exhaustion bar plays a decisive role for further action.
Bars are numbered and the volume corresponding is shown in arrow mark.
1.Exhaustion bar.WRB with extreme volume.Long lower wicks.This area is a key area as in daily TF as it is the area of last swing low.
2.An inside bar with moderate volume with a positive close.The close of the exhaustion bar now plays a significant role.If the same is cracked downside it may result in great collapse. This notion can be understood in the daily chart I have posted below.
3.Bears try to close the price below the close of exhaustion bar but fail as bulls squeeze it up and close exactly at the close of exhaustion bar.The last bar of the day also was an attempt by bears in vain.The day gets over.Price closes inside the exhaustion bar and more importantly above the close of the exhaustion bar.
----------------------------------------------------------------------
Next day : First 4 bars was an attempt by bulls to take the price above the open of this exhaustion bar.Again bears pull the price down and price reaches the close of exhaustion bar again and
4.Again bears make an attempt but in vain.Volume increases significantly means there are buying interest at that level.A 5 month /six month low attracts many investors and long term traders.Day is over .Bears still could not crack the close of the exhaustion bar downside.
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Next Day:Bar No.6 :Now we get a slight indication that bulls have become more confident and started accumulating after sensing that bears have become little weak.a tweezers bottom with high close with good volume.
Bar No.7:Bears are in no mood to give up.Here they try once again.Similar result.Day is over .Bears still could not crack downside.
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Next day:For consecutive 3 days bulls have held on to line of control (Close of exhaustion bar). Now they know they are in drivers seat .Hence bars 8,9,10 all signal their dominance and the day ends in higher close.Bears could not pull the price even half way down......day is over.
I have drawn 2 blue horizontal lines. One is at opening of the exhaustion bar and another is close of the exhaustion bar. Price trades within those 2 zones for consecutive 3 days (It is what resulted in inside bard on daily TF)which means it has to break the line on either of the sides.Now we know who has dominated for last 3 days .Hence the outcome will be obvious.
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On 24th ,the first hourly bar marked as "A" gets 1.3 crores of volume with close at the high.Where did the bar open .Above resistance ( Above open of the exhaustion bar) Now its more obvious."B" inside bar,bar "C" cracks,bar "D" inside bar , Bar "E" cracks.Even Bar "F" signifies Bulls strength.
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My intention is not bad but if u know so much u must have minted money.I humbly request u to reveal ur profits. That would be encouraging.
Very thorough, indeed!
:clapping::clapping::clapping::clapping:
ST showed another wonderful perspective, whereas you have detailed all the processes -
involving the price action of the previous days and what led to what also - sequentially!
Good perception in itself is a great thing, and sharing it patiently with others is even greater!
Accumulation and Distribution !!
We thank you, Raghav.. :thumb:
:clapping::clapping::clapping::clapping:
ST showed another wonderful perspective, whereas you have detailed all the processes -
involving the price action of the previous days and what led to what also - sequentially!
Good perception in itself is a great thing, and sharing it patiently with others is even greater!
Accumulation and Distribution !!
We thank you, Raghav.. :thumb:
In this forum we share trading ideas /methods/views which help us in trading. This forum is not a place to show one's wealth and how much does X or Y make in a day does not help anyone at all. The amount made also is a function of one's trading capital , risk tolerance ....so dont post such irrelevant questions and try to disturb the flow/ attract attention in others threads. We have also told you to start a thread and give all your wisdom there.You are posting such posts in multiple threads which amounts to spamming......
I hope you get the message clear and loud.......
Smart_trade
Moderator
I hope you get the message clear and loud.......
Smart_trade
Moderator
If asking and telling is spam. I leave it on to the moderator. They may ban me.
Everyday in this forum itslf the FIIs data are displayed. Has anybody said ever that they lost so much. Never.
On the contrary we have enough stories that indian traders are sitting on losses.
I just want that let this form give realistic view of the market. I dont want or wish anyone to reveal their wealth or earning but I find everybody parses a thread or the other but r those adirers earning enough ?
U r being regarded in traderji but have u asked people who admire you houw much do u earn everyday or u helped them earn.
Let me give u an example.
An upmove of 20 rs i share can earn a trader 20.000 rs. if u guide them to buy 1000 shares.
It is never done.
Apology for if i have triedd to be better than u. U r definitely much superior to me.
Everyday in this forum itslf the FIIs data are displayed. Has anybody said ever that they lost so much. Never.
On the contrary we have enough stories that indian traders are sitting on losses.
I just want that let this form give realistic view of the market. I dont want or wish anyone to reveal their wealth or earning but I find everybody parses a thread or the other but r those adirers earning enough ?
U r being regarded in traderji but have u asked people who admire you houw much do u earn everyday or u helped them earn.
Let me give u an example.
An upmove of 20 rs i share can earn a trader 20.000 rs. if u guide them to buy 1000 shares.
It is never done.
Apology for if i have triedd to be better than u. U r definitely much superior to me.
Sorry ST Bro I have to interrupt
Hello Enkay,
I don't know your motives.However what I have suggest you is that if you have any ideas ,start a thread.put your idea's ,comments and critics. Even ST bro or any moderator is not going to ask you why you feel x or why you feel Y.
Coming back to your questions,I never said I have made lakhs or crores.I always said "I DO NOT KNOW ANY THING AND I AM JUST A HUMBLE STUDENT".still I say "I am a small person ".If you want to know the success of this method go and ask thousands of friends who supported and stood with me since beginning.
I neither said mine is the only method which makes money.There are hundreds of great methods which makes money.Neither I take credit for this thread.All credit goes to veterans like ST,Columbus,AW10,Raunak ,Saint Srinath......Then to my friends.... There is nothing which is mine.
I am not at all angry or furious at you.For me this is common especially on public forums.
Please ask my friends If This has made any difference to them in their lives/trading.
I hope you got what I wanted to say.
Hello Enkay,
I don't know your motives.However what I have suggest you is that if you have any ideas ,start a thread.put your idea's ,comments and critics. Even ST bro or any moderator is not going to ask you why you feel x or why you feel Y.
Coming back to your questions,I never said I have made lakhs or crores.I always said "I DO NOT KNOW ANY THING AND I AM JUST A HUMBLE STUDENT".still I say "I am a small person ".If you want to know the success of this method go and ask thousands of friends who supported and stood with me since beginning.
I neither said mine is the only method which makes money.There are hundreds of great methods which makes money.Neither I take credit for this thread.All credit goes to veterans like ST,Columbus,AW10,Raunak ,Saint Srinath......Then to my friends.... There is nothing which is mine.
I am not at all angry or furious at you.For me this is common especially on public forums.
Please ask my friends If This has made any difference to them in their lives/trading.
I hope you got what I wanted to say.
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