Nifty Futures Trading

[ag_fx]

scalping the KISS GOODBYE

helped by 1/5min RSI

Cud u explain this statement....does dis mean u r nt scalping for da day?

 

[momostock]

ok double bottom band 2640-30 which broke in gap down today is being tested & tasted now...
wanted to see this in 1st hour actually....
:-(

hello,
oh yes that could have been perfect but we were the unlucky ones

 

[Sunil]

ankit, 2643-33 FUT band was a good double bottom support for a long time...
when such support breaks (and that too in a gap down), 2 things i usually expect:

1. such level is again tasted (kissed)
2. such level is again tested as resistance now (goodbye)

a typical 1-2-3 setup on a larger time frame

thus goodbye kiss... to that level
maximum it may close gap by touching 2665 (yest LOD)

 

[ag_fx]

ankit, 2643-33 FUT band was a good double bottom support for a long time...
when such support breaks (and that too in a gap down), 2 things i usually expect:

1. such level is again tasted (kissed)
2. such level is again tested as resistance now (goodbye)

a typical 1-2-3 setup on a larger time frame

thus goodbye kiss... to that level
maximum it may close gap by touching 2665 (yest LOD)

Though I understood some part of this....some part is still unclear....

Tasted(kissed) means what? Is it same as tested? If markets have broken the support and is retracing back to those levels, then what is the difference between tasted and tested?

Doess Kiss means the levels come again and mkt moves up...
And Tested means...levels come again and mkts move down back????

 

[new2sm]

shooting star in 5 min.

 

[Sunil]

Though I understood some part of this....some part is still unclear....

Tasted(kissed) means what? Is it same as tested? If markets have broken the support and is retracing back to those levels, then what is the difference between tasted and tested?

Doess Kiss means the levels come again and mkt moves up...
And Tested means...levels come again and mkts move down back????

u can be long for targetting Part 1 (tasting)
&
if indicators are supporting, u can go short as mentioned in Part 2 (and testing it as a resistance now, which may or may not pass the test)

please, can we keep this Q&A for after EOD...

 

[arnav_rulz]

maximum it may close gap by touching 2665 (yest LOD)

Wow i just did scalp trading today while keeping two stops actually SAR's ... 2580 & 2665

Both of them worked sooo very perfectly !! In 12 trades done by me today i scalped 100 points !!

Man thats the same difference between today's high and low !! Its like i Brought at today's low and sold it the top point !!

Thanks Sunil especially for the 2665, caz i had 2580 support on my own .. (but u also providing it gave me more confidence ) But thanks for the logic behind 2665 resistance.. Helped me decide my shorts ka stop ...

Thanks and nice to see you back

 

[nagendra_gb]

Sunil..

Good day for me too... thanks for ur tutorials ..

 

[ag_fx]

u can be long for targetting Part 1 (tasting)
&
if indicators are supporting, u can go short as mentioned in Part 2 (and testing it as a resistance now, which may or may not pass the test)

please, can we keep this Q&A for after EOD...

Cud you please explain it wid today's example? I am not getting it !!!

If possible, please post trades you undertook today.....(with indicators/logic)

And I believe you do scalping on Nifty....can i learn anything on your strategy for the same?

thnks

 

[arnav_rulz]

Cud you please explain it wid today's example? I am not getting it !!!

If possible, please post trades you undertook today.....(with indicators/logic)

And I believe you do scalping on Nifty....can i learn anything on your strategy for the same?

thnks

Well i guess what Sunil bhai Wants to say is that ...

u can be long for targetting Part 1 (tasting)
1. such level is again tasted (kissed)

Like when the market opened Gap down today (below Today's imp Support Of 2630-2640) You can go long near The support levels for a target of 2630-2640.

Here Tasting means that nifty is likely to JUST hit these targets and not move up much Further ...

if indicators are supporting, u can go short as mentioned in Part 2 (and testing it as a resistance now, which may or may not pass the test)
2. such level is again tested as resistance now (goodbye)

By this he means that Say Nifty has reached 2640 area(It may start to act as resistance now and if the indicators that you follow say RSI or volume or anyother are also Indicating a short .. then you may short At these levels with an appropriate stop according to you or Yesterday's LOD (which was 2665)

thus goodbye kiss... to that level
maximum it may close gap by touching 2665 (yest LOD)

I hope i am correct in interpreting what u said ...

Dont know much abt 123 setup so Didnt comment ...