My System - My trades.

[neophyte16]

Would like to thank varun ji for sharing the wealth of knowledge. Successfully traded Bank Nifty today following 1 min 15 period OBV ribbon. Will be tracking the rest of scenarios as well.
Hope to learn a lot from you!!
Regards,

 

[vijkris]

Varun ji,
I am using only 1min 15 period price and obv ribbons.

In my chart 19.24 candle gave green price ribbon, then turned to red again thus giving another short add.
But my doubt is 20.13 candle hit the short tsl at 3555, So am i supposed to go long immediately? with sl at 3530 ?

 

[varunkochhar]

There is another very simple way to be with the major part of the trend always which can be summed up in one paragraph. And then there is another simple way of almost catching the swings even minor ones at the initial stage and being with it till exhaustion. But i will not write about it because then people would start asking for rules and then someone might come up and say it is causing confusion and the objective of the thread has been met and to stop writing. So ok. Good Night.

 

[vijkris]

Would like to thank varun ji for sharing the wealth of knowledge. Successfully traded Bank Nifty today following 1 min 15 period OBV ribbon. Will be tracking the rest of scenarios as well.
Hope to learn a lot from you!!
Regards,

If possible please start posting charts of the scenarios u understood.

today acc to 1 min obv system both long and short was there na in bnf ?

 

[varunkochhar]

Varun ji,
I am using only 1min 15 period price and obv ribbons.

In my chart 19.24 candle gave green price ribbon, then turned to red again thus giving another short add.
But my doubt is 20.13 candle hit the short tsl at 3555, So am i supposed to go long immediately? with sl at 3530 ?

This is today's crufe(crude effects of alcohol is very evident) charts na. They are not matching with mine. Let me post my charts.

 

[varunkochhar]

Vipul ji and Vijkris ji the white vertical line is the setup line. This red ribbon period had a low of 3566 as shown by horizontal line. So i had put in a bid to short at 3565 because then we would have put in a lower low as per Dow theory. Similarly you see the high levels reached in the small blue part of the ribbon was 3563 (so as per my SL it was 3563+2= 3565). That is why i was quite sure that we would be safe below that and going above it would change the trend to up by putting in a higher high. If you look at the OBV pane you would see a clear divergence and hence a long was not justified. The only plausible thing to do was to look at a short trade with minimum SL so i chose to short twice at 3560. Now look at the price it is back to 3530.

 

[vijkris]

This is today's crufe charts na. They are not matching with mine. Let me post my charts.

There will be data difference. Just would like to know whether the procedure of reverse entry was correct or not....provided the obv and price turned blue for a moment..

 

[vijkris]

Thanks for posting chart. There is huge difference in mine compared to yours. :lol:

ok.. acc to ur chart at 20.50 short tsl hit na ?
and reverse long at 21.36 with Isl at 21.11, 3539...

Or am i missing something ?

Edit: now saw ur edited post.

 

[varunkochhar]

Vijkris ji the TSL would have hit between 9:30 and 10 as per my charts.

 

[varunkochhar]

The TSL got decided maybe according to your time but got hit as per my time. ( i mean yours is the setup time and mine is the trigger time)