My daytrading

[Raghavacc]

Identifying and trading exhaustion bars can be highly profitable.

Nifty 30 Min chart

 

[Raghavacc]

Here we go.Rocket lands right in to the space.

 

[VJAY]

Dear Raghavji,

Where clould be the ideal entry ?Also want to know tommorrow which retrace line can follow if price go higher...

 

[Raghavacc]

Dear Raghavji,

Where clould be the ideal entry ?Also want to know tommorrow which retrace line can follow if price go higher...

Hi Vijay,

If you ask me ,I have been observing you since the beginning of this thread .I am proud to say that you are one of those friends who have seriously taken all the techniques shared by me and making best utilization.You have both attitude as well as skill to become a successful trader. Keep it going.

Let me share few thoughts before I could comment on your charts.
I am with Dan cent per cent when he says
"Beleive in your tools".Come every weekend we see Newsletters,blogs containing so many opinions. For example people said Nifty will be highly range bound.

Our style is entire different.I have not seen any news channels since last 4 months.Niether do I read any business news papers.Am I not profitable?
Opinions,rumours,news all these are good for ears.For a daytrader who relies on his tools i.e:On charts and other techniques they are just garbage .

Most of the beginners fail here.They go through atleast 15 blogs on weekends and get 15 opinions and then when they sit in front of chart they lose focus because 15 scorpions bite them at the same time. Neither do they have confidence in their tools.I never say follow x method or y method.What I say is before you chose a trading style make thorough research on its credibility,stroke rate and your adaptability to that method/system.Then once you adopt trust it cent per cent.

Its great to see that you are highly confident in whatever you are doing here.It will definitely take you a long way.

 

[Raghavacc]

Dear Raghavji,

Where clould be the ideal entry ?Also want to know tommorrow which retrace line can follow if price go higher...

Vijay,

As far as I am concerned, it has a 2 entry points.

1. we know gaps in markets are common in markets and they can be traded profitably. I will write on them in my PDF.First entry can be when the price crosses close of Y'day at 23.6 levels.

2.Second entry can be when price crosses high of last day/S/L in each case is at successive lower Fib levels.

 

[Raghavacc]

A is where Nifty makes lower swing high .The same is broken downside and at 38.2 it takes support and price action with lot of hammers looked like taking the price further up.

I was not at all aware that there is a news from RBI.I came to know it only at 1PM from a trading friend.

Once it starts consolidating at 38.2 for as prolonged period My long order is at 5701. i.erevious swing high+3 short order at 5671 i.e:38.2%-3.once 38.2 breaks I always target 61.8 atleast 7/10 times it works.

B4 I could blink my eye lips it reached 61.8 .Since I had to go on work I covered at 5605 .Could not make any further trade.

Rocket launched yesterday came crashing down signalling that Bhalloo Bhai's are in full business.

All in all if you beleive in your tools news will not make any difference to you.

For the first time,I faced a issue with NSE Now.I was trailing my S/L ( reverse order ) At a point I trailed to 5619 and price went to 5589.I wanted to trail further.Could not modify.Tried several times.Finally had to call Zerodha and modify it. Opportunity cost of may be 10 points.!!!

On a high BP day we need to see how efficient the server of NSE Now is.A dealers terminal to retail traders!!.As far as fills and execution are concerned I am pretty happy with it. Please share your experiences.

On daily chart A is a swing high. Point B is not only a cloud but also a false break out.

The area within 2 vertical lines represents a great mess and confusion.The a morning star gave some releif to bulls only to end up with a bearish engulf today.Point C is also a version of false breakout.

Remember ,successfull traders are made out of these type of markets.Any one can trade a nice trendy market.Your skills are tested when both the parties hold on to each ends respectively.

 

[balasoft80]

Hello Raghav,
In the chart 1, when nifty trading around 38.2 levels with lot of hammers, our long entry have to be 23.6 level + 3 points correct?

But I think you have put buy above 5701. Any reason for that?

Thanks
Bala

 

[Raghavacc]

Hello Raghav,
In the chart 1, when nifty trading around 38.2 levels with lot of hammers, our long entry have to be 23.6 level + 3 points correct?

But I think you have put buy above 5701. Any reason for that?

Thanks
Bala

Bala,

Since starting Nifty was in down trend. Hence to reverse the trend it has to ATLEAST break the high of last swing high or high of the day not 23.6%.The last swing high + 3 was where my long order was pending.Just go through chart once again and observe thoroughly.

 

[balraj167]

Bala,

Since starting Nifty was in down trend. Hence to reverse the trend it has to ATLEAST break the high of last swing high or high of the day not 23.6%.The last swing high + 3 was where my long order was pending.Just go through chart once again and observe thoroughly.

Hi Raghav,

I m following this thread from last 2 weeks trying to understand, its very interesting and knowledgeable, can you please explain about the last Swing high+3 in detail.

Thanks in advance
balraj167

 

[apparichitudu]

Identifying and trading exhaustion bars can be highly profitable.

Nifty 30 Min chart

raghavv i didn't get where is exhaustion bar exactly here in the chart...please locate it exactly and explain how to identify it if u don't mind........