Scalper's Forum

rkripal

rkripal

Well-Known Member
#71
#71


Hi trader111

here i am attaching a 2 min intraday chart of icici. see based on this trendlines, i see three opportunities there. still not expirianced enough to find more. was a big up trend during 12 to 1 but couldnt have gone long out of fear ( still to overocme these evils :eek: )

first long : entry at this point and if u book profit after a small move in ur direction and move stoploss to entry point would have been profitable.

first short : this short at 748 is best thnks to inflation news. after entry booking some profit after 3.5 points move and moving stp to entry point. and thn it drops down very nicely.

second short : says it all...

there are lots of mistakes and other things to be learnt...

trader111 and all seniors please guide.


rk
 
T

the tape

Well-Known Member
#72
#72
Wat up !

Ascending and descending triangles ( not symmetrical as they tend to attract a lot of attention therefore, the chances of fakeouts are much higher ) are one of the most high probability setups one can get in the market.. the best thing about these is that the stops are very tight and the results are very quick. Ideal for scalpers..

The trade is entered using a selling stop placed a few ticks below the the support.

A is the point after which one should consider a short : wait for the range to get tight enough to give a decisive move.

B is the stop loss level and we keep trailing it down with the range getting lower.


 
T

traderwiz

Member
#73
#73
Tape:

I am looking at the same 1 minute candles for the same stock for today i.e. orchid chemicals and I don't see any of those triangles that you are talking about. I am using esignal. I am not sure if this due to some scaling factor. What I do see is the "cup with the handle". :confused:

I always see these cup with a handle. The way how I interpret is that when the handle gets broken, then the market could go either way. So i really don't have an "edge" other than the fact that I know the market is going be very volatile when it breaks.
 

Attachments

T

the tape

Well-Known Member
#75
#75
Traderwiz,

mine orchid chart is from yesterday............

First of all, cup and handle is a bullish continuation pattern and you r trying to short here............

anyways............I can help u with this, as the handle breaks, triggering buy or sell, don't jump in at the initial move.............wait for the consolidation to take place, it might happen, it might not, if it does not happen, fade it (let it go )

and if the consolidation does happen, take a position in the direction in which the price broke and consolidated, place a tight stop.

The advantage that you gain here is that u r trading the reaction, not the action. which is less volatile than the actual action.......... so u r spared from the frequent in and outs.

byeeee
 
T

the tape

Well-Known Member
#76
#76
traderwiz,

you can look at this one, this is today's cairn ...............just for u

i traded this one...........

The results are too frequent in these triangles.............


 
U

uasish

Guest
#79
#79
trader111 said:
It's hard to interpret volume in first and last 15 min.
Click to expand...
As per Larry Williams "Professionals Trade at Last 30 mins"

Plz see the attached chart of SBI in 2 mins Time Frame.
Smart Money's Foot Print can be seen in Volume.

http://www. 4 shared.com/file/ 52256633/986f9254/ SBI_volume.html

(Plz fill the Gaps)
 
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