My System - My trades.

[varunkochhar]

John ji i cannot predict targets as per OBV unlike Elliott waves. Only strength and weakness based on supports and resistances.

 

[varunkochhar]

For weakness in Reliance in needs to trade below 1323 and close below 1320.

 

[varunkochhar]

For intraday weakness in BN it should breach 22735 and trade below it.

 

[varunkochhar]

Now there is a divergence in BN. OBV is below the 12:00 levels but price is not. For best moves they both need to be in sync. At 12:00 the price had closed at 22744. The pivot low when it breached it from below is at 22737.2 (Hence rounded off 22735) Now for the divergence to play out we need to breach that level. So essentially for gauging our next move we need to wait for either the OBV to go up or price to come down. Sounds confusing ?

 

[varunkochhar]

I have a personal target of 1365/70 in reliance by this week.

 

[varunkochhar]

Another low volume bar has formed at 2:32 (280 contracts) Closing price as per this candle was 22772. The next higher pivot above it is 22779 (So strength above 22780/85)

 

[varunkochhar]

22735-22780 is neutral zone (Sideways Zone)

 

[varunkochhar]

So no weakness above 22735 (Which was well protected). No shorting till we are above it only longs.

 

[varunkochhar]

Going by the same logic the lowest Volume Bar got formed at 1:44 in crudeoil mini. The closing price was 3016. The pivot highs and lows around this point are 3013 and 3020. We are also below OBV levels at that point. So no buy below 3020+2 = 3022. Only Sell. Current price is 3012.

 

[varunkochhar]

If one was to short he could keep 2 points above today's high of 3024 as SL.