Nifty Future 5min Ambush Style-Live

[hitesh05]

hitesh 12.40 bar ...no i dont think so...12.40 candle is not a hammer or any reliable candle...now at eod when whole chart is in front of our eyes we do feel that we could had squareoff the short trade at 12.40 bar high taken out...but in real time it was hard to make a such decession....regarding hint of reversal ...the one which we had on 14 july was different..we got a breakdown(taking off pl and trendline) bar in uptrend and then follow few bars supporting at the same level...here today we where already in downtrend making sort of ascending triangle...the breakdown bar formed the last leg of the bigger triangle...so it was hard to make any decession at end of 12.40 bar...though frankly i too had deep inside me that reversal could be at hand but i had to wait atleast for some concrete clue to exit the trade...
also all the bars after 12.35 bd bar where formed inside the bd bar...though i exited bit late of short trade but still it sufficed me that the 12.50 bar close outside the range ...and after my exit market made almost 12-14 pts high and then came down...but again there was no question of long or sar cuz i didnt wanted to go against the miniflow trade ....that proved fruitful as market again tanked 50 pts...
ok now regard the long trade i can say i could just not pull the trigger on time...the 1.45 bar which went down to make a bottom ...in real time swiftly reversed after touching its lod (lod was made by 12.35 breakdown bar)...the aggressive long was above this 1.45 bar high...but i just missed to put order on time...i was quite assure with that swift reversal that market is reversing but got late in long trade..though i immediately booked my half position in miniflow taking clue from ambush....

Very nice Harsh......:thumb: now day by day my doubts r cleared by u.......thanks a lot.....ambush is tough but the last stage of a trader. If somebody understands the price action in small timeframe then he can easily manage large TF and will be very helpful to it also.....as someday told to me by amit that batman does need robin.........:thumb:

 

[Flock]

hello flock....yeah i have been trading this ambush from just few weeks...still very new at it.....nothing like principles or anything ...just we need to train our eyes to see important patterns/trendlines .....after all u r used to miniflow trading...so at the core of ambush are the same principles....need to train ourselves to see the correct pivots....but unlike mini here we get lots of pivots...so we cannot completely rely on each and every pivot...so we take the help from patterns and to some extend indicators too (though using indicators is individual's prefrence).....here in ambush we take clue from higher tf like 30 tf (miniflow) to get the trend..if mini is in long then we just go at lessor lot short in ambush and vice versa...cuz the short trade which we got ambush could be just for a timebeing...for yr back studies to get idea...go through ambush trades on ts.....u will get lot of information...

Yes, Harsh, will do that. I had gone through a few charts at TS on the bank Nifty thread. Simply amazing. I feel to do this properly I need a lot of paper trading with live markets. Looking back at old charts is not good, cause the hindsight always seems to get me the good trades. Actually even when we trade Mini flow, I can guess by looking at the 5 min charts what the fate of our position is going to be most of the time, but to take trades on that, not sure ... yet.

 

[ag_fx]

do u cover ur L/S with hammer formation or simply reverse or stop at pivot break...??

Thanks Harsh, i have some doubt regarding ambush.......I have seen charts of ambush in TS that Saint sir exits from a trade when a hammer forms in a strong up move or down move, u also told me that we should exit from a trade with a hint of reversal and not to wait until the trade comes to a loss or breakeven.Now look at the 12.40 bar it's a clear bullish signal so should not we exit when the high of that bar breached ?? or ur current exit is a valid one ? plz explain

Harsh has given a fantastic explaination to the pattern...Got to learn a lot from it...However, here is another view on Hammer, my personal observation only and thus should be taken with a pinch of salt...


Hammers/Inv hammers on 5 min are most effective when they occur at Swing Lows/Highs...Now, looking at the chart in retrospect, you can easily tell whether it was a Swing High/Low or not, but how to decide it during the market hours? Like that 1240 bar that you talked about...how to seperate wheat from the chaff?

Here is what I do :

1) Look for the open space around the Hammer....that is , the lesser number of bars around the hammer/inv hammer, more is its value and importance....its like seeing the formations "A" and "V" with the hammers at top and bottom...the more open space around, the better.

2)Look for Higher TFs pivots...if the hammers/inv hammers coincide with higher Tfs, u have a stronger signal.

3) Hammers/inv Hammers at HOD/LOD also hold more significance..

4) Last but not the least, the High/lows of hammer/inv hammer needs to be taken out with a closed candle for confirmation of the reversal.

These rules/observations might not be full proof, but the do help you stay out of a lot of Hammer related mistakes.
Just take a look at the charts and I am sure you will observe the things.

Happy Trading

 

[ag_fx]

A chartical view...

 

[hitesh05]

Harsh has given a fantastic explaination to the pattern...Got to learn a lot from it...However, here is another view on Hammer, my personal observation only and thus should be taken with a pinch of salt...


Hammers/Inv hammers on 5 min are most effective when they occur at Swing Lows/Highs...Now, looking at the chart in retrospect, you can easily tell whether it was a Swing High/Low or not, but how to decide it during the market hours? Like that 1240 bar that you talked about...how to seperate wheat from the chaff?

Here is what I do :

1) Look for the open space around the Hammer....that is , the lesser number of bars around the hammer/inv hammer, more is its value and importance....its like seeing the formations "A" and "V" with the hammers at top and bottom...the more open space around, the better.

2)Look for Higher TFs pivots...if the hammers/inv hammers coincide with higher Tfs, u have a stronger signal.

3) Hammers/inv Hammers at HOD/LOD also hold more significance..

4) Last but not the least, the High/lows of hammer/inv hammer needs to be taken out with a closed candle for confirmation of the reversal.

These rules/observations might not be full proof, but the do help you stay out of a lot of Hammer related mistakes.
Just take a look at the charts and I am sure you will observe the things.

Happy Trading

Thanks dear Ankit......ur explanation on hammer is crystal clear have to learn much more from u helpful seniors......waiting fr u and ur VANS team to join us soon....

Regards

 

[ag_fx]

Good Morning Friends..

Happy Trading to all

 

[Sunil]

Thanks dear Ankit......ur explanation on hammer is crystal clear have to learn much more from u helpful seniors......waiting fr u and ur VANS team to join us soon....

Regards

The BAAP of HAMMER

 

[ag_fx]

The BAAP of HAMMER

HAHAHHAHA

true....who can vouch againt that hammer..true

 

[HEM]

Good morning to all
&
Best wishes to all :thumb:

 

[ag_fx]

Longs triggerred. 4278