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Basing purely on yesterday's price this is the probability displayed by Mkt:
http://www.traderji.com/90711-post26.html
Basing purely on yesterday's price this is the (crude)probability displayed by indicator(coded on 19th May'07 in Metastock):
http://www.traderji.com/90985-post57.html
The cache here is ,to-day in mkt hrs if it trades below 'Bear's Zone' (for more than 30mins),a Short position initiated(on rise)has got above 50% chance (with 'Bear's zone' as SL) tomorrow it will be Black candle,hence (as the daily price range is above 2%) a reasonable > 2% from entry to exit.For my style (of 50% liquidation at 1st chance of profit) enters the next indicator 'Bear's Grip',the 1st tgt (a place to book 50%),if it closes below 'Bear's Grip' then keeping open the balance 50%.
Now as Savant_Garde & kkseal both pointed out (based on their rich experience) we can take recourse to other indicators to filter which scrip has more chance of falling tomorrow ,in those cases (pre filtered) the Bear's Zone
price may be penetrated in 1st 30mins.
As these are not tested in actual mkt situation (coded just yesterday)& based on purely EOD data,so i am having 'Believer Bias'.
http://www.traderji.com/90711-post26.html
Basing purely on yesterday's price this is the (crude)probability displayed by indicator(coded on 19th May'07 in Metastock):
http://www.traderji.com/90985-post57.html
The cache here is ,to-day in mkt hrs if it trades below 'Bear's Zone' (for more than 30mins),a Short position initiated(on rise)has got above 50% chance (with 'Bear's zone' as SL) tomorrow it will be Black candle,hence (as the daily price range is above 2%) a reasonable > 2% from entry to exit.For my style (of 50% liquidation at 1st chance of profit) enters the next indicator 'Bear's Grip',the 1st tgt (a place to book 50%),if it closes below 'Bear's Grip' then keeping open the balance 50%.
Now as Savant_Garde & kkseal both pointed out (based on their rich experience) we can take recourse to other indicators to filter which scrip has more chance of falling tomorrow ,in those cases (pre filtered) the Bear's Zone
price may be penetrated in 1st 30mins.
As these are not tested in actual mkt situation (coded just yesterday)& based on purely EOD data,so i am having 'Believer Bias'.