Nifty Future 5min Ambush Style-Live

[ag_fx]

no probs.. but dont forget 2 post ur chart after market hours..

i would like 2 request hitesh n ankit also 2 post their charts wid their day tradings after market hours..

Boy..I was out of mkt today..But what a miss...

Wud do that whenever I trade live back.

 

[pleaseharsh]

look at the rsi level at 12:15 hours.. it had almost approached 0.. can one take long positions at this rsi level even though the trend was downward??

1 more thing i have noticed in many charts. rsi level is not reliable when it is between 20 to 80 (positive divergence but market heading south and vice versa).. but above 80 and below 20 it is reliable.. it is most realiable above 90 and below 10.
is my understanding right?? or m i missing something??

P.S. plz dont mind my questions.. m a novice.. u can reply 2 them whenever u wish to..

no...as said before don't rely on any single indicator/pattern for doing ambush...pls try to look wt other indicator or pattern support that decision making...
rsi /stoch/ averages etc...has got tendenacy to stay in overbought/oversold condition for pro-long period....seeing rsi at 20 dosent mean its time to buy...on trending days it can remain near 20 level and still market keeps on making new lows....yeah it ofcourse alert us that market is oversold but does require other pattern or indication to fullfill that decision...for e.g if rsi is at bottom level and if we get a pivot high crack..then this is a good indication that chances of reversal on hand....
also in ambush we keep track of higher timeframes and trade on 5 min chart...taking yr e.g the rsi oversold on 5 min tf could be at neutral level on 30 tf....one more thing try to look out for patterns/pivots rather then this rsi/stoch and everything ...especially for trade entry...yeah for profit booking and so u can take the help...but its not mandatory...also keep eye on support/resistance ....

 

[ag_fx]

look at the rsi level at 12:15 hours.. it had almost approached 0.. can one take long positions at this rsi level even though the trend was downward??

1 more thing i have noticed in many charts. rsi level is not reliable when it is between 20 to 80 (positive divergence but market heading south and vice versa).. but above 80 and below 20 it is reliable.. it is most realiable above 90 and below 10.
is my understanding right?? or m i missing something??

P.S. plz dont mind my questions.. m a novice.. u can reply 2 them whenever u wish to..

generally yes you are right...Divergences are very reliable patterns if traded well and right

 

[dare2]

no...as said before don't rely on any single indicator/pattern for doing ambush...pls try to look wt other indicator or pattern support that decision making...
rsi /stoch/ averages etc...has got tendenacy to stay in overbought/oversold condition for pro-long period....seeing rsi at 20 dosent mean its time to buy...on trending days it can remain near 20 level and still market keeps on making new lows....yeah it ofcourse alert us that market is oversold but does require other pattern or indication to fullfill that decision...for e.g if rsi is at bottom level and if we get a pivot high crack..then this is a good indication that chances of reversal on hand....
also in ambush we keep track of higher timeframes and trade on 5 min chart...taking yr e.g the rsi oversold on 5 min tf could be at neutral level on 30 tf....one more thing try to look out for patterns/pivots rather then this rsi/stoch and everything ...especially for trade entry...yeah for profit booking and so u can take the help...but its not mandatory...also keep eye on support/resistance ....

gr8 reply.. u have pointed out everything.. will keep it in mind..

i do follow patterns n trendlines (though, sometimes, some patterns doesnt seem visible until some1 else points them out).. m learning the indicators juz 4 knowledge sake (they may come handy sometimes)..

abt support n resistance, i dont know da exact rules 4 finding them out.. i derive them through trendlines only..
how do u do that??

 

[hitesh05]

no hitesh...not guru...but just keep working...

admit it Harsh that u r far ahead in trading ............:thumb: :thumb:

 

[hitesh05]

Boy..I was out of mkt today..But what a miss...

Wud do that whenever I trade live back.

me too missed th long but managed to grab the short......a great day.....:thumb:

 

[pleaseharsh]

admit it Harsh that u r far ahead in trading ............:thumb: :thumb:

abbeey...don't embrace me pls....i know mein kitna paani mein hu ....
ok jokes apart...few good trades dosent make one good....consistency is yet not developed at all....kabhi baazi idhar fir udhar fir vapaas idhar fir sabkuch udhar aur mein idhar...

 

[hitesh05]

no probs.. but dont forget 2 post ur chart after market hours..

i would like 2 request hitesh n ankit also 2 post their charts wid their day tradings after market hours..

will try to post everyday.....

 

[hitesh05]

abbeey...don't embrace me pls....i know mein kitna paani mein hu ....
ok jokes apart...few good trades dosent make one good....consistency is yet not developed at all....kabhi baazi idhar fir udhar fir vapaas idhar fir sabkuch udhar aur mein idhar...

yaar this is just the beginning........will definitely have a drive in ur new merc soon.....:clap: :clap:

 

[pleaseharsh]

gr8 reply.. u have pointed out everything.. will keep it in mind..

i do follow patterns n trendlines (though, sometimes, some patterns doesnt seem visible until some1 else points them out).. m learning the indicators juz 4 knowledge sake (they may come handy sometimes)..

abt support n resistance, i dont know da exact rules 4 finding them out.. i derive them through trendlines only..
how do u do that??

these are the defination ...it would help to answer yr question...there is no exact rules i follow...its subjective and differs from person to person wt they see in the chart..the defination will help u to see wt to see in charts while trading ........

Trendline
A line is drawn by connecting the highest or lowest prices to which a security has risen or fallen within a period. The line's angle shows whether the security is in a downtrend or an uptrend. If the security's price rises above a downward sloping line or drops below a rising uptrend line, analysts believe the security will start to move in a new direction.

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A line drawn that connects either a series of highs or lows in a trend. The trendline can represent either support as in an uptrend line or resistance as in a downtrend line. Consolidations are marked by horizontal trendlines.

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A straight line drawn to connect significant high or low prices of a security or index. If the security is advancing the low prices are used to construct the line (uptrendline). If the security is declining, high prices are used to construct the line (downtrendline). The theory is that a violation of the trendline shows a change in trend. Eg, if price has been advancing & then drops below the trendline, it is a sign that a trend change from up to down may be imminent. The weakness in trendlines is the subjectivity of deciding which high or low prices should be used to connect the lines. This is one of many areas at which the art & science of technical analysis meet.

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Resistance level-
a term used in technical analysis indicating a specific price level at which a stock will have the inability to cross above. Recurring failure for the price to move above that point produces a pattern that can usually be shaped by a straight line.

Support level – a term used in technical analysis indicating a specific price level at which a currency will have the inability to cross below. Recurring failure for the price to move below that point produces a pattern that can usually be shaped by a straight line.

(source : net)....