Nifty Futures Trading

[ag_fx]

Well, I don't know who is "Sunil Sir" in this thread...
(As of now, I know one "sunil" who is worthy of Sir in this forum - his id is LINUS (reverse of Sunil)
I'll try to attempt this:


Even I agree with L2T that it is an ascending triangle....
Don't go by merely by what textbook says.... believe your eyes and see what the chart is showing.... don't fog your mind with pure textbook.
There's also a double bottom in that green line... infact, it was the last previous higher low, where one should have gone long - your stop would have been very near...
THERE'S ONE KEY RESISTANCE LEVEL 1.47 (shooting star bar's high)

this is getting interesting now,...volumes definitely suggest a ascending triangle,but i am still a bit sceptical about the price action though again with your updated chart rsi has turned bullish...
still i see it as a channel,because of the price action.
sorry novice mentality.please do update the charts later when u get some time.

sunil....gimme those eyes of yours...too good,double bottom is something i didnt notice.
salutations.

With the balling change, the market is using the reverse swing effectively

While I am in accordance with you for the trend appearing to be bullish, the Theory says that in the Bear Market, the breakout is downwards. Here, the Theory does not speak of the trend.

Now which one should we accept? The Bullish Trend to give upward breakout or the Bear Market to give Downward breakout.

I am no expert. Can some expert attempt to clarify please?

Isnt the triangle almost reached its apex ? Once a triangle reaches its apex, the breakout will be feeble and without much momentum to take the price far away from the breakout region.

wow...so many replies and so many different views...i was waiting for nifty to close to post the latest chart...this is what happened in terms of price action....i had actually gone long on dis(paper trade), but it triggered my SL before hittihng da targets...

also, this chart is updates for the day...i saw a rectangle formation in it and shorted when third candle met the resistance line...bt got stopped immediately...as of now, RSI is over 70 here....ne kind of views on the same chart wud be appreciated...

also if someone can analyse the yesterday's move, past those triagnles, it wud be helpfull

thanks..


[img=http://img210.imageshack.us/img210/6365/gbp1hr16janxy2.th.jpg]

 

[dhavalj]

Hello All,
Again a newbie here, although I have been following the posts in this thread as well as TSunilji's mechanical trading updates since a few days. Am still learning and hope to profit from your experience
Referring to ongoing thread, what if we consider the slide from 3147(7th) to 2701 (15th) as the first leg of the downmove? In that case the retracements are - 2807 (23.6%), 2872 (38.2%), 2924 (50%), 2977 (61.8%). Does this sound fitting in with your view, guys? Personally I would vote for the 50% retracement level, not more than that. Can others share their view please? Or in case, I am making some mistake, kindly correct me.

 

[Sunil]

We usually find Rectangles during our intraday trading...
and everytime, one doubts whether it's really a good breakout, will it pullback to BO level, do a 1-2-3 and resume the breakout direction....
or if it never does a 1-2-3, then till what level we should consider it good enough to enter/initiate trade...

Found this piece of infor by Prabhjeet here

Rajaram I think there is a very nice strategy I have read about trading these large ranges.

First of all you should keep the Sell or Buy order that is 0.10 * Height of range + high/low.

I mean if ABB has been trading b/w 850 - 720 we will calculate the Height of range, i.e 130 in this case.

So our Buy/Sell stop is at 850 + (0.1 * 130) = 863/ 720 - (0.1 *130) = 707


This will take care of most false breakouts, even if the move is false you should be on an Alert always. If after the Breakout we do not have atleast 2-3 bars in the same direction, we should immediately reverse our position and start to draw a new range again because after a True Breakout the move tends to be swift and not a weak one

let's see if it comes handy during our nifty intraday rectangles

 

[Sunil]

Hello All,
Again a newbie here, although I have been following the posts in this thread as well as TSunilji's mechanical trading updates since a few days. Am still learning and hope to profit from your experience
Referring to ongoing thread, what if we consider the slide from 3147(7th) to 2701 (15th) as the first leg of the downmove? In that case the retracements are - 2807 (23.6%), 2872 (38.2%), 2924 (50%), 2977 (61.8%). Does this sound fitting in with your view, guys? Personally I would vote for the 50% retracement level, not more than that. Can others share their view please? Or in case, I am making some mistake, kindly correct me.

http://www.traderji.com/futures/255...oupled-2-3-day-swing-calls-10.html#post268382

 

[Sunil]

Initial resistance levels (bull matadors) for me at Spot 2853 / FUT 2838

aavijaao!!!


PS: formation has not started yet, but smart bulls may make this level as a potential neck of inv H&S....

 

[Sunil]

Initial resistance levels (bull matadors) for me at Spot 2853 / FUT 2838

aavijaao!!!


PS: formation has not started yet, but smart bulls may make this level as a potential neck of inv H&S....

vineet, now i understand what u meant when u asked me when/where to initiate trade...
like today, 2838 FUT was known... my order was ready at 2835
it took U turn at 2831.50...
missed this fall...





chalega yaar... there's always another time

 

[myvineet]

vineet, now i understand what u meant when u asked me when/where to initiate trade...
like today, 2838 FUT was known... my order was ready at 2835
it took U turn at 2831.50...
missed this fall...





chalega yaar... there's always another time

me got it at 2830 taking 2832 as fri HOD ...but out all at 2821..

sunil bhai ..if u got solution of this problem them plz tell me too...

 

[Sunil]

me got it at 2830 taking 2832 as fri HOD ...but out all at 2821..

sunil bhai ..if u got solution of this problem them plz tell me too...

solution is only that Real Supporting Indicator
but it had not kissed 70 too at THAT time..

smell a possible H&S ..
look from friday's chart

 

[Sunil]

a series of lower highs, as of now..
let's see

 

[Sunil]

Iska matlab sunil bhai

I have admitted my 5year old son in this SCHOOL


I think even you should pay a visit to it.