My System - My trades.

[varunkochhar]

Trendlines if used properly can be a very strong tool in a traders arsenal. Over the years i have found the same set of people (call them operators/fii/dii) the market makers give their hand away near these trendline supports and resistance while playing a range. When this range breaks convincingly the action shifts to the next higher or lower levels. By combining our ribbon method with this we can play semi-positional with adds with very low risks and high rewards. Pls try it out with other instruments and share your results. I am not confused. Just throwing up all options for us to capitalise. At the end we want to make money not being right or wrong.

 

[varunkochhar]

Neophyte ji you are not being Naive. What you are saying is perfectly right as per the conventional classical technical analysis. Here i am just using 5min.TF as the higher TF and 1min. TF as the lower tf as i feel waiting for signals in 15min. or higher tf delays our entry. That said you can trade other HTF if you are not comfortable trading 1min.TF. Yesterday i had posted some charts of 1min.TF where one could have captured the trend in BN positionally from 18000 levels quite effectively with very small stops.

 

[varunkochhar]

So how to judge which supports will hold and which might break with good odds. Well look no further than your 15period OBV ribbons. A trend though is defined by a series of higher lows but is fruitful and sustainable only when we have higher highs also. So whenever we change colour of ribbon from red to blue mark the lowest level of price in the red period. Likewise mark the highest level of price in the blue period. Just compare these levels with the previous lows and highs in the previous red ribbon and the blue ribbon periods. Till the time we are making higher highs and higher lows we are good. Once we make a lower high, chances are that the trend might change and the last low would not hold. Pre-empt this move by placing a short just 1 tick below the lows of the last red period low. If it gets triggered the highest price level in the last blue period would become your ISL. From then on just follow the trend this way again.

 

[varunkochhar]

And one morething to add to my previous post. When we take out the price high in the blue period of the earlier blue period just see that we also take out the previous OBV high, cause if not then we can be doubly sure that the support should not hold as that would lead to my favourite divergence trade like it did today when crude just touched 3651 and fell about 30 points. One could effectively catch the high of the day by observing this divergence. Good Night.

 

[varunkochhar]

I sincerely hope you all use all these inputs from me to best use.

 

[mdabrar]

sell BN FUTURE SL20707.

 

[varunkochhar]

Buy still not triggerred as OBV is making lower highs in blue ribbon periods.

 

[sabhlok_r]

Apollotyre price crossed 200ema in daily charts. Obv is already above 200 ema.

 

[varunkochhar]

This lower high is maintained from thursday's highs. So about 350 points from then.

 

[varunkochhar]

I hope you can see this as well in your charts.