Nifty Futures Trading

[Sunil]

this early upmove is no surprise for me...

as usual, TBQs in both Big & Mini

5 min bar broke on upside

 

[Sunil]

this is what i was discussing at LIBRARY thread...
who doesn't want to begin his day with a winning trade....
atleast with a small risk & a higher reward

 

[arnav_rulz]

this is what i was stressing at LIBRARY thread...
who doesn't want to begin his day with a winning trade....
atleast with a small risk & a higher reward

True Sunil, Atleast for me ... the winning trade sets up my day...

even today, after the 1st initial upmove, i was able to short @ top with stop of 15 points (i usually trade with 5-7 point stop) confidently as i already had 18 points in my back !!

 

[Sunil]

shorted too
1 min RSI was at 80 at that time !!!!!!!!!
stop i put 3950+

 

[milind]

Some support close to S1 (3884.5)? TBQ/TSQ reversed

 

[cheeku]

See the volume. It has dropped down almost negligible !

 

[lalpar]

a double bottom in place at 3887

 

[cheeku]

Negating Support 3862

 

[Sunil]

that was for the OPEN TRADE....9:55-10:00

same thing, when market reopens after outage 11:25-11:30 - same strategy for OPENINGS!!!

but i have noticed, that usually, after re-opening, see in what direction it opens with a spurt... initiate in that direction (it sustains quite a distance) for scalp or trail or combien both, as per your comfy

i wish sun outages / breaks happen thru out the year...

good for open strategies + lunch can be had early, instead of 4pm
;-)

really wish this becomes permanent like all other asian markets.... they have such breaks DAILY... don't know the reason, though...

my main intention behind these two opening strategies is to remove the "speculation" part as much as possible...
these "momentum / volume driven" time zones remove the "toss of a coin" element, which is usually the case for most of the trading day (for intraday traders & scalpers)...
that's why (for other time periods), picking the right level for entry (as discussed in LIBRARY thread) becomes that more important... and entry should be in such a way that it's as close as possible to THAT level, so that risk/loss is minimum....

regarding TBQ:TSQ, well, TBQs were more at open... only after falling below 3900, i noticed TSQs more in both BIG & mini... and this scenario remained through out the day... so, it was mostly a sell-on-rise day...
check out 1 min chart's RSI... there was selling whenevr it neared 65-70 band... check out 5 min chart...

that's why, I wanted to clarify - TBQ:TSQ will NEVER tell you when to enter, but it gives one an idea in what direction should most of one's trades be in...

and it's the change that matters... for eg, at around 1:07, it crossed an important level/pivot at that time 3883, but it proved to be a whipsaw....
i did not go long at that time, because i saw TSQs were STILL MORE than TBQs by quite a margin in both Big & Mini.... i ignored it....
so, TBQ, TSQ should just be considered at BO levels... that also as a visual confirmatory indicator... nothing else....
NO ONE CAN TRADE OR ENTER POSITIONS BY LOOKING AT TBQ:TSQ DIFFERENCE....and no one should.....
what i have mentioned is only a special case to be used during first few mins. of trading day...


THE CHART LEVELS FORMING ON THE LEFT-HAND SIDE SHOULD BE THE MAIN/PRIME REASON FOR ONE'S ENTRY IN A TRADING POSITION...
rest of indicators are secondary, and only for visual confirmation fo direction

TBQ TSQ is of tertiary importance... to be used only on special periods of trade....NOT ALL THE TIME...

 

[mahesh2007]

results for 15/16 were excellent...

An inside bar is a bar which is completely within the range of the preceding bar, i.e. it has a higher low and lower high than the bar immediately before it. An inside bar indicates a time of indecision or consolidation. On a smaller time frame it will look like a triangle. Inside bars often occur at tops and bottoms, in continuation flags, and at key decision points like major support/resistance levels and consolidation breakouts. They often provide a low-risk place to enter a trade or a logical exit point.

renu

Just wanted to add-

an inside bar corresponds to Harami in candlestick patterns.
Hrami can be both bullish(green) or bearish(red).

according to martin pring ,harami ignores the high and Low and only considers open and close, while IB considers H and L also.

so theoritically both wicks of harami can encompass the previous candle.
This harami corresponds to a western style out-day.