Nifty Futures Trading

[new2sm]

Alert: approaching S3 from below as per camo we go long abv 3111

Just to add. As per rules set between me and sunil, we long "only" if 3111 is broken on the upside twice.

 

[uasish]

http://www.traderji.com/derivatives/18953-nifty-futures-trading-1673.html#post246152

In continuation of the above chart, was late in informing ,(with the attached chart)due to other preoccupations.

 

[RakeshG]

ok, so as per the author:

we go long above 3262 (R4)
we go short below 3062 (S4)

If NF goes below 3112 (S3) but not below S4 3062, and then comes up again & crosses S3, then we buy at 3112 S3

If NF goes above 3212 (R3) but not above R4 3262, and then goes down again below 3212, then we short at 3212 R3

CO-INCIDENTALLY, THIS S3 3112 IS ALSO THE "PIVOTAL" LEVEL AS PER CLASSICAL FORMULA ie 3110
ANOTHER CO-INCIDENCE IS THAT THIS 3110 WAS THE KEY LEVEL FOR TODAY TO GO LONG ON BREAK ON UPSIDE...
SO, THIS 3110 NATURALLY BECOMES THE KEY LEVEL FOR 05/11/08.

These co-incidences are not new to me, and this is the reason why i am attached to pivot levels.

Sunil

NF made a low of 3054 and which is lower then BD level of 3061. Luckily didnt short again after covering previous ones. What do you suggest abt this..do we need to put some additional filters?

Thx

 

[RakeshG]

Just to add. As per rules set between me and sunil, we long "only" if 3111 is broken on the upside twice.

You mean

1. crossing 3111 from below
2. again goes down to 3111
3. second crossing 3111 is buy?

What if it doesnt come down after crossing in setup 1..maybe sit sideways then

Thanks

 

[RakeshG]

Sunil/New2Sm

Sorry for keep asking every other time but i am really interested in this and thats whay wanna clear all doubts...me trading using these levels

Thanks
RG

 

[new2sm]

Yes if it cross 3111 from below twice. coming to what if it does not come. Till now the exp. shows it will u can see it live right now. we went abv 3111, now back to 3105 levels, if we break upside now with force. Buy banta hai. Please note this is some learning that we(I and sunil) are gathering based on observations. You can choose to differ. Just sharing with everybody our findings.

 

[RakeshG]

Yes if it cross 3111 from below twice. coming to what if it does not come. Till now the exp. shows it will u can see it live right now. we went abv 3111, now back to 3105 levels, if we break upside now with force. Buy banta hai. Please note this is some learning that we(I and sunil) are gathering based on observations. You can choose to differ. Just sharing with everybody our findings.

yes it crossed twice but again came back after second attempt...just now

Bhai..me very much interested in this and thats why observing so closely. Here objective is to pin point all details so that you guys can improve it for all of us to get benefitted.

Please take my observations in +ve sense

 

[Sunil]

Just to clarify Rakesh, new2sm & me are basically "scalpers"....
we book out on slight hesitancy by NF in our direction....

I may keep some lots to "ride" as per camarilla or Saint SIr's mini flow method...

 

[new2sm]

u missed the keyword "if we break upside now with force(volume)". Just touching is not enuf. u and me can also make it touch 3111 but we can't make index move right. it did not cross with volumes and thus we fell. Now either wait for S4 to go short or subsequent attempts to cross S3 with volumes.

 

[new2sm]

asc? triangle forming?