NIFTY 50 future TRENDS

[Sridhar795318]

An apex is not just 2 happy TL's crossing. It comes fully equipped with all the bells and whistles, it is saying sell and don't ask questions. Notice very little pullback after the apex was hit.
Notice the top of the cloud. Once price gets there, this will not be a normal hit on the cloud. There is going to be a looooong (I wanted to make sure everyone understood.) candle taking the top out. We know that is now going to happen, because we have to have another leg on the DOWN because the TL has already been corrected. It's going to rip the top out because the swing low on the correction happens to be on top of the cloud.

This is good stuff!!

It looks like the candle has breached the cloud. Can anyone confirm this with their chart?

Is it good to buy 1 lot pe5200 for holding overnight (if spot is below 5315 at 3:25pm)?

 

[sudoku1]

NF trend DOWN

tgt > 5222

 

[manoharpillai]

Nifty trading below 5315 from the past 15 minutes... Shall we consider the spot as taken out..??

I closed my trade early and slept off ...sorry for answering you late..... 5292 on a daily chart which is S3 is almost final as per our intraday levels if any one short early this is the final level to book profit as per rule. ( market may still go below this level )
I said it before these are the levels given for the day...profit of 20-30 points considered to be good entry exit SL are very important below 5315 i think Nifty made low of 5297 from there it pulled up 50 points finally closed at S2-5338

I increasingly feel that i had taken extreme liberty to occupy SUDOKU1'S THREAD

 

[4xpipcounter]

Sridhar, my chart never showed the candle touching the cloud, but let me clarify "breaching the cloud".
A cloud is breached if the candle closes inside of it. All wick spikes are allowable. In other words, you could have a wick touching the opposite side of the cloud, but as long as the close was on top of the cloud, the top contained.

image upload

It looks like the candle has breached the cloud. Can anyone confirm this with their chart?

Is it good to buy 1 lot pe5200 for holding overnight (if spot is below 5315 at 3:25pm)?

 

[Sridhar795318]

Sridhar, my chart never showed the candle touching the cloud, but let me clarify "breaching the cloud".
A cloud is breached if the candle closes inside of it. All wick spikes are allowable. In other words, you could have a wick touching the opposite side of the cloud, but as long as the close was on top of the cloud, the top contained.

What I meant was during the day the candle wick spike entered the cloud (you must have been fast asleep at that time).

Your chart never showed the candle touching the cloud. Thanks for the info on what a breach is...if I knew better I would have said "a few minutes ago spike entered the cloud, can anyone confirm with their chart".

 

[4xpipcounter]

Exactly, I understood what you meant. I just wanted to clarify it is not a signal just because the cloud is touched.
That is also a trap people fall into with TL breaks They want to trade it the moment it breaks, then almost as soon as they enter, they get faked out.
Just off the top of my head, about the only thing that signals a trade after a simple touch is the candle touching a swing high or low.

What I meant was during the day the candle wick spike entered the cloud (you must have been fast asleep at that time).LOL, we do that in our part of the world too.

Your chart never showed the candle touching the cloud. Thanks for the info on what a breach is...if I knew better I would have said "a few minutes ago spike entered the cloud, can anyone confirm with their chart".

 

[reachjesal]

Paul,

But our original premises was that the cloud get pierced anyways right? or was this a swing low and a short term bottom is formed?

thanks

Exactly, I understood what you meant. I just wanted to clarify it is not a signal just because the cloud is touched.
That is also a trap people fall into with TL breaks They want to trade it the moment it breaks, then almost as soon as they enter, they get faked out.
Just off the top of my head, about the only thing that signals a trade after a simple touch is the candle touching a swing high or low.

 

[4xpipcounter]

Jesal, our strict reference there was just because we get a wick spike, it does not mean the cloud got pierced.
In the overall scope of things, it is pretty much a foregone conclusion that in this case, if the cloud gets pierced, the candle is not coming backing out.

Paul,

But our original premises was that the cloud get pierced anyways right? or was this a swing low and a short term bottom is formed?

thanks

 

[gauharjk]

Sridhar, my chart never showed the candle touching the cloud, but let me clarify "breaching the cloud".
A cloud is breached if the candle closes inside of it. All wick spikes are allowable. In other words, you could have a wick touching the opposite side of the cloud, but as long as the close was on top of the cloud, the top contained.

image upload

Thank you for your valuable lessons Sir! Highly appreciated.

 

[4xpipcounter]

You're always welcome, Gauharjk. I take a great deal of pleasure in doing it.

Thank you for your valuable lessons Sir! Highly appreciated.