My System - My trades.

[Smart_trade]

I was shorting reliance on that day......

Almost 3 times i was on the short side and got the stop loss triggered....

Varun sir, this is not fair.....:lol:

Now you know who took all your money you lost that day.

Smart_trade

 

[okabira]

Okabira ji those ribbons are the standard 15 period ribbons for both price and OBV. As you know the ribbons were made for people who just cannot interpret the price and OBV action directly. If you see the price charts, they are very clean. I have initiated and added only on breakout of price (confirmation) while all this while the OBV was encouraging me to go long.

Got it varunji thanks :thumb:!!

 

[varunkochhar]

One more thing that i have perhaps not been able to explain to people properly is that the best moves happen when both price and OBV are in sync. When you see strength in OBV but not in price, it is never a good idea to short, in fact at times like these just wait out this move and enter when price also shows strength. The reason for this is (Though some of my friends will not agree) that volumes lead price. In short look at the larger picture and do not take either price or volumes in isolation. Just pull up the Reliance charts and see what i am driving at. After the initial pessimism, volumes started going up though the price was still falling. This just showed, that as anticipated, the informed people were buying stealthily while the retail was shorting. One should have just waited for price to show strength (be it any way eg. taking out the earlier pivot high of say 5min./15min chart) to enter into this counter.

 

[varunkochhar]

Please donot trade on my views as according to some people my ideas are always half baked and you know half baked stuff gives stomach ache. (People are not able to digest half baked food).

 

[monkeybusiness]

I had read somewhere that idle people discuss other people, Good people discuss events (news etc.) but great people discuss ideas.

Long back had read it somewhere.

"nothing is more powerful in this world, than the idea who's time has came"
:thumb::thumb::thumb:

 

[Tukaram]

OBV not in my softwares

 

[varunkochhar]

Sorry John ji answering your querry on divergence here. Divergence by itself has got no meaning. Once you spot a divergence, you need to look for a confirmation. That confirmmation can only come from price. Wait for it to breach the lowest levels between the 2 points where the divergence occurred that would only give you the clasical confirmation. Else one would just be taking a chance which might or might not come off.

 

[john302928]

Sorry John ji answering your querry on divergence here. Divergence by itself has got no meaning. Once you spot a divergence, you need to look for a confirmation. That confirmmation can only come from price. Wait for it to breach the lowest levels between the 2 points where the divergence occurred that would only give you the clasical confirmation. Else one would just be taking a chance which might or might not come off.

Thank you. Could you please share a chart if possible on the confirmation signal

 

[varunkochhar]

John ji i do not use divergence much so if you could post a chart which showed divergence or failed divergence i will try to explain

 

[john302928]

John ji i do not use divergence much so if you could post a chart which showed divergence or failed divergence i will try to explain

Hi I have the chart ready but I am unable to post it as my imgur is not working it says it is temporarily over capacity. I am getting this error since last couple of days.

If possible checkout the GBPUSD chart in investing.com for the period 1 july 2014 to 31 apr 2015 in daily chart and you might see regular bullish divergence failure and atlast it reversed around april 2015.

Can anyone post this chart for us here, please.thanks