SH's 315 Strategy - how to use if effectively

[spiritunit]

Now as per 315 people should be empty handed waiting to enter longs again at 3 EMA touch.

as per 315, I believe tomorrow NF may test around 5070 level as 3 EMA did'nt touch today's candle, so shorting tomorrow for sometime is good.. :clap:

 

[kkr555]

Would someone be kind enough to provide me with the OPEN, HIGH, LOW and CLOSING prices for NIFTY DEC Futures on Dec 1, 2009. Even if some one can provide me with a LINK containing historic Nifty Futures data, that should help me a lot.

I have been injured (fell from a bike after running straight into a calf that darted suddenly into the middle of the road) and hence missed out on obtaining this statistic.

Jeetu ... I am talking about 3 EMA on daily charts ...... it cant be above 5140 at 10 AM since for that to happen Nifty closing prices average for last 2 days would have to be above 5140.

at 10.00 AM, the 3 EMA for EOD candles (daily candles) was at 5108.

Cheers
SH

 

[Hari]

HI KKr555!

I hope u recover fast. please find the data

Open Price 5147.70
High Price 5154.00
Low Price 5103.70
Last Price 5115.80
Prev Close 5132.05
Close Price 5119.00

Rgds,

 

[Tradewithhunter]

SH, Thanks a lot for a detailed reply!!! In the highlighted portion above when you say 'current candle' I can safely presume you are referring to the Daily Candle and does not refer to any smaller time frame candle.
Though it get a wee bit subjective but also can understand that this subjectivity cannot be avoided!!!
Every time the market opens beyond 3 EMA we dont exit, and this happens a number of times, hence I feel its a subjective decision and different ttraders wud take different actions. No harm inthat till the basic premise and rules work!!!
Thanks again.
-RKK

Yes by current candle i mean current day's candle.. this is an EOD strategy so I will never talk about any intraday time frame candle ever in this thread.

Cheers
SH

 

[Tradewithhunter]

as per 315, I believe tomorrow NF may test around 5070 level as 3 EMA did'nt touch today's candle, so shorting tomorrow for sometime is good.. :clap:

I like the way you are trying to derive a short here spiritunit..

But please note a couple of very important things:

1. Even a flat start today morning can mean 3 EMA touching todays EOD candle since 3 EMA will inch up gradually today. Remember last two closing prices have been around 5125 and today any open around 5125 will mean 3 EMA at 5125 (hence candle touch).

2. Most importantly dont forget the foundation rule, NO SHORTING till the time 3 EMA is above 15 EMA .. think of only longs.

Cheers
SH

 

[Tradewithhunter]

as per 315, I believe tomorrow NF may test around 5070 level as 3 EMA did'nt touch today's candle, so shorting tomorrow for sometime is good.. :clap:

I like the way you are trying to derive a short here spiritunit..

But please note a couple of very important things:

1. Even a flat start today morning can mean 3 EMA touching todays EOD candle since 3 EMA will inch up gradually today. Remember last 2 closing prices have been around 5125 and today any open around 5125 will mean 3 EMA at 5125 (hence candle touch).

2. Most importantly dnt forget the foundation rule, NO SHORTING till the time 3 EMA is above 15 EMA .. think of only longs.

Cheers
SH

 

[Tradewithhunter]

10.24 AM .. Nifty at 5165 ... my longs from 5108 working hard ... booked 100% longs now at 5162 since today is the second day when 3 EMA is not touching the candle... I will buy now on dips when 3 EMA is touched.

Cheers
SH

 

[Tradewithhunter]

Quote:
Originally Posted by gb333 View Post
Ok ..
whats ur advice on Monday on DENA BANK, SUZLON...
3 EMA goes above 15 EMA
Last(27-11-09) candle close above 15 EMA in both cases..
what next if 3EMA goes above 15 EMA on Monday.. I should buy .. right????

Yes if 3 EMA is above 15 EMA at 3.25 PM on Monday, buy both.

Cheers
SH

Gb 333 - Hope you are enjoying your longs in Suzlon and Dena Bank both.

Suzlon at 3.25 PM on Monday was at 78 around and right now trading at 83.

Dena Bank at 3.25 PM on Monday was also at 78 and today touched 89 already ..:thumb:

Pls note, both are not touching 3 EMA today so you can book them if you are long.

SH

 

[mysticalrun]

sir,,,,,

plzz tell where is right now 3ema so i can also buy on dip on tht level........


thxxxx

 

[observer]

Finally, I made up mind to put in pratice this well laid strategy. I decided to do a small trade first. Bought Idea Cellular 1000 @ 52.05 (cash) on 01/12/09. Today at 54.xx the candle is away from 3ema. Now it is the limitation of trading in cash, I cant sell because the delivery has not come into my account yet.
SH, hope my trade and observations were right.

RCOM has made a long crossover today, ofcourse we would have to wait till EOD. Would it be good to enter if the xover holds?