Nifty Futures Trading

[Sunil]

Re: Time to Stick my Neck Out ,Nifty 7300

mostly i refer RSI when near imp levels...
rsi was < 20 when i was short and spot was near 4250 support... so i exited shorts....
(i refer rsi & levels to part book profits or to exit positions)

but after a long time, i made this mistake of relying on rsi to enter a position....
SL for long hit

 

[Sunil]

Re: Time to Stick my Neck Out ,Nifty 7300

asish,
aaj rsi ne dhoka diya...
i should have stuck to my rule of only refering rsi for exiting(part or full) and not ENTERING new position

:-(

 

[uasish]

Re: Time to Stick my Neck Out ,Nifty 7300

The Retracement of Yesterday's Gain was expected,now we will have to see at what level it takes Support (if at all it takes support ) then that would be our HL ,this is i am refering Hrly Chart.
Alternatively this Black candel gets negated and another White candel comes then this stage would be a pause.

 

[Sunil]

Re: Time to Stick my Neck Out ,Nifty 7300

for rsi ENTERING at support levels, u should have a SL of the next support level....
itna jigar hona chahiye....

 

[uasish]

Re: Time to Stick my Neck Out ,Nifty 7300

asish,
aaj rsi ne dhoka diya...
i should have stuck to my rule of only refering rsi for exiting(part or full) and not ENTERING new position

:-(

As per the Gap Rule of Saint breaking day's Low was where Short to be initiated,this he taught me Long Back.

 

[uasish]

Re: Time to Stick my Neck Out ,Nifty 7300

I am just decreasing my Stop .

 

[deb99891]

Re: Time to Stick my Neck Out ,Nifty 7300

The Retracement of Yesterday's Gain was expected,now we will have to see at what level it takes Support (if at all it takes support ) then that would be our HL ,this is i am refering Hrly Chart.
Alternatively this Black candel gets negated and another White candel comes then this stage would be a pause.

wave counting from 4215
if violated i have to go for next lower bar

 

[Sunil]

Re: Time to Stick my Neck Out ,Nifty 7300

forming LH, LL

 

[uasish]

Re: Time to Stick my Neck Out ,Nifty 7300

Stop is now @ 4252.55

 

[new2sm]

Re: Time to Stick my Neck Out ,Nifty 7300

now it has made HH,HL