Nifty Futures Trading Part 2 (Positional)

[orderflow13]

alex, these charts not only speak thousand words about nifty,
but also speak more than a thousand words about the hardwork & dedication with which you have copied, edited & posted these charts...

GOD BLESS YOU...

thanks for compliment buddy, got old habit to do this work,
after invention of traderji site,i found a team of u,czr,satya da,renu,ashih da..n regular members here( heard ur batting n all try to bold u out ), it will be betray with the team if i wont post the charts

 

[Czar]

Oh I am just the Night Watchman

 

[orderflow13]

Oh I am just the Night Watchman

dont u think " Night " watchman aptly suits me ? ,
if not me who will post at 4 in the night

 

[Czar]

Who the ell is watching you post ???? ME !!!

 

[Sunil]

Partimetrader,

Though you asked this qs. to learn2, but got to agree with you on this 50% FIB ret level...
A month back, even I was quite fascinated with this 50%..

http://www.traderji.com/derivatives/18953-nifty-futures-trading-1080.html#post204479

Just remember to keep in mind that the two levels between which u r calculating 50% should be relevant. Looking at EOD charts of SPOT would provide a clear wave pattern to the naked eye...
in last month, after touching 4650, spot found support at around 50% of 3800-4650, though it was expected at 50% of 4160-4650 (at 4400).. so one could comfortably short at 4400.
so, it provides decent support & resistance, and can also be taken as SAR after initiating a position...

the next FIB is not actually 70%, its 61.8%.

 

[learn2trade08]

As of now this is all i can see in nifty charts apart from satyajit'sir magic lines...
plz correct me if i am wrong and help me improve.

thanks

 

[Czar]

Very nice Learned2 , add 50 MA too... that's provided a support...

 

[TFL]

no way i bet,,,

in one of my post much earlier i ha dposted unless dow crosses11700sucessfully we cannot hope for good move sin dow

and now its 11100.,,and unless it closses positive we are simply moving down to 4210 das previous support of 4195
kiss it again and craete double bottom..and further fal is 4100,,
def going pos short form tom

renu

Renu,

We still have hope..Dow is +ve now...aslo went up 80+

Hope it will end in positive too...

Hari.

 

[TFL]

DOW closed @ 11433.71 164.79 +1.46%
Curde Oil 100.xx levels
Inflation 12.1 vs 12.34

 

[parttimetrader]

tsunil - Thanks for the link to your post - most insightful! You are right - the most important thing is to correctly pick the levels from which to calculate, and be aware of where the market has placed its stops (and thus reversals). We are all familiar with "Traders' Remorse" and I want to avoid a bear trap around key fibonacci levels.

PS: Actually even 38.3% is a good level to work with, as a worthy competitor to 50%.