My daytrading
- Thread starter Raghavacc
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A=DBHLC
B=Break of Consolidation
C =Hammer at the 50% of upwave i.e:yesterday's upwave +today's gap up at open
D=A tiny false breakout at 5635 and then neck broken
E=Bottom of lower swing high broken
F= A major area of support (hammer) broken downside symbols dominance of bhalloo's.
G=Dwaj
G->H=3rd downwave
H=Dwaj.
Today convoy of Bhalloo's lead by their chief Jambavant 
came with truck load of sell orders and made bulls to run for cover. A classic day with everything on the offer.
I can say with conviction that hardly few come to market for the sake of learning seldom with patience and humbleness.All come here to make money from the day one .Only few have that mindset to face all that comes on their way. thats why 99% of the traders here come and go .For them stock market is like a film talkies. a way for paid entertainment.
I do not post my homework by previous evening .why?If that too I have to make and post here, it becomes virtually a kindergarten.Every one has to make efforts.The joy of making self effort is beyond explanation...It also fills confidence, enthusiasm and more than that an intention to grow.
Few weeks back I started sharing my thoughts on fibs/pivots.Fib is a powerful tool to gauge the turning points in a trending market.Here we use it on 5,30,60,daily,weekly,monthly --virtually on every TF and make our job easy.However I have seen hardly any effort on this except 2-3 friends. that is too for just few days .CONSISTENCY IN TRADING MARKET STARTS ONLY AFTER CONSISTENT EFFORTS. Tell me one reason why I should spend an hour every day and post the charts with explanation Without any simultaneous efforts? Today the fib proved how powerfull it is. It was loudly shouting that 5610-5625 area was a key for either of the sides.
Yesterday I wrote about TA.Incidentally market practically proved what I wanted to say.A hammer both in 5 and 30 Mins at 50% the upwave means bulls are strong .we go long above the hammer . SAR just below the hammer.Now market after a little upmove makes Lower high, then breaks the bottom .We may liquidate 1/2 or 2/3rd of our positions and wait with the rest for retest. At this point We do not know that Bhalloo's are ready with convoy's.
Once the hammer is broken its now bhallooo's who are in control and we start adding to shorts. Thats the way we work .We are not attached to any of the parties. we go with the winners.
The Rama -Ravana battle as every one knows was one of the fierce battles ever fought.It went on for days .All Devata's came to watch the battle with fear and curiosity.Now they do not know who will make it.
What they did " They shouted "JAI".
neither "JAI RAMA" Nor "JAI RAVANA" because if Ravana wins and if he comes to know they supported RAMA he will not leave them easily and if RAMA wins , Lakshman is not going to leave them if they supported RAVANA.
So they just shouted "JAI" and once RAMA won they went with him.
We trader's here under this method belong to same category.We go with the winners.
came with truck load of sell orders and made bulls to run for cover. A classic day with everything on the offer.I can say with conviction that hardly few come to market for the sake of learning seldom with patience and humbleness.All come here to make money from the day one .Only few have that mindset to face all that comes on their way. thats why 99% of the traders here come and go .For them stock market is like a film talkies. a way for paid entertainment.
I do not post my homework by previous evening .why?If that too I have to make and post here, it becomes virtually a kindergarten.Every one has to make efforts.The joy of making self effort is beyond explanation...It also fills confidence, enthusiasm and more than that an intention to grow.
Few weeks back I started sharing my thoughts on fibs/pivots.Fib is a powerful tool to gauge the turning points in a trending market.Here we use it on 5,30,60,daily,weekly,monthly --virtually on every TF and make our job easy.However I have seen hardly any effort on this except 2-3 friends. that is too for just few days .CONSISTENCY IN TRADING MARKET STARTS ONLY AFTER CONSISTENT EFFORTS. Tell me one reason why I should spend an hour every day and post the charts with explanation Without any simultaneous efforts? Today the fib proved how powerfull it is. It was loudly shouting that 5610-5625 area was a key for either of the sides.
Yesterday I wrote about TA.Incidentally market practically proved what I wanted to say.A hammer both in 5 and 30 Mins at 50% the upwave means bulls are strong .we go long above the hammer . SAR just below the hammer.Now market after a little upmove makes Lower high, then breaks the bottom .We may liquidate 1/2 or 2/3rd of our positions and wait with the rest for retest. At this point We do not know that Bhalloo's are ready with convoy's.
Once the hammer is broken its now bhallooo's who are in control and we start adding to shorts. Thats the way we work .We are not attached to any of the parties. we go with the winners.
The Rama -Ravana battle as every one knows was one of the fierce battles ever fought.It went on for days .All Devata's came to watch the battle with fear and curiosity.Now they do not know who will make it.
What they did " They shouted "JAI".
neither "JAI RAMA" Nor "JAI RAVANA" because if Ravana wins and if he comes to know they supported RAMA he will not leave them easily and if RAMA wins , Lakshman is not going to leave them if they supported RAVANA.
So they just shouted "JAI" and once RAMA won they went with him.
We trader's here under this method belong to same category.We go with the winners.
Last edited:
Hello Raghav,
1)
Could you please explain why did you take yesterday low and today high for fib level? Actually it should be today high and low correct? Whenever difference high and low is above 30 pts, then we can apply fib level correct?
2) In the above hourly chart you have pointed out blue line is SAR/SL. Is this because we already in the trade as there is hammer?
Thanks
Bala
1)
Could you please explain why did you take yesterday low and today high for fib level? Actually it should be today high and low correct? Whenever difference high and low is above 30 pts, then we can apply fib level correct?
2) In the above hourly chart you have pointed out blue line is SAR/SL. Is this because we already in the trade as there is hammer?
Thanks
Bala
Hi Bala, let me try to answer these question..... Raghavji can correct me if I'm wrong....
1. Take a look at the 5-min Chart (easier to visualize and interpret).... Yesterday, the up-move was started from the low of the day (around 5565) which continued today in the form of a Gap..... So, the Fib was drawn to gauge this up-move and to find out the key support areas of 23%, 38% etc. retracement..... Remember, the Fib was drawn earlier today probably around 10-11 am.
Regarding, the range of more than 30 points..... you are correct about it..... He mentioned this earlier.....
2. Regarding the SAR/SL..... this is for the Short Trade which was entered at the Break of Hammer on 60-min Chart which also coincides with the 50% Retracement. SAR/SL is 38% Retracement + some filter........ If you entered Long above the High of the hammer, which proved to be a false-breakout, you would have been stopped out.
Regards,
Aditya
1. Take a look at the 5-min Chart (easier to visualize and interpret).... Yesterday, the up-move was started from the low of the day (around 5565) which continued today in the form of a Gap..... So, the Fib was drawn to gauge this up-move and to find out the key support areas of 23%, 38% etc. retracement..... Remember, the Fib was drawn earlier today probably around 10-11 am.
Regarding, the range of more than 30 points..... you are correct about it..... He mentioned this earlier.....
2. Regarding the SAR/SL..... this is for the Short Trade which was entered at the Break of Hammer on 60-min Chart which also coincides with the 50% Retracement. SAR/SL is 38% Retracement + some filter........ If you entered Long above the High of the hammer, which proved to be a false-breakout, you would have been stopped out.
Regards,
Aditya
Raghav,
Today classic example of price and volume relation in NIFTY found.....
I m following your thread very closely since long.......but today able to use that knowledge.......in finding weakness in market very early........by simply price-volume action...as shown in chart...
.......Thanks Ragav.........for posting your valuable thoughts and spending precious for us.......
Regards
Aaplana
Today classic example of price and volume relation in NIFTY found.....
I m following your thread very closely since long.......but today able to use that knowledge.......in finding weakness in market very early........by simply price-volume action...as shown in chart...
.......Thanks Ragav.........for posting your valuable thoughts and spending precious for us.......
Regards
Aaplana
Excellent understanding Aditya and then a lucid clear cut explanation. The only thing you need is to convert this knowledge to practical.Good going....
Bala - Nothing much to say as Aditya made it very clear.Why I do say atleast 30 points? Its because a fib is a tool to be used in a trending market. Any move less than 30 points according to me is not a real trend. This "30" points is not a rule engraved on a stone..It can be 50 points,70 points as the case may be. What all I meant was to draw a fib we have to have at least a minor trend of 30 points.
So do not look for 30 points as a rigid rule.Just look for a visual trend ( minor, medium or super) and then draw the fib levels.
Bala - Nothing much to say as Aditya made it very clear.Why I do say atleast 30 points? Its because a fib is a tool to be used in a trending market. Any move less than 30 points according to me is not a real trend. This "30" points is not a rule engraved on a stone..It can be 50 points,70 points as the case may be. What all I meant was to draw a fib we have to have at least a minor trend of 30 points.
So do not look for 30 points as a rigid rule.Just look for a visual trend ( minor, medium or super) and then draw the fib levels.
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