SH's 315 Strategy - how to use if effectively

[trade4joisar]

I think EMA 3 would touch around 4846 today ? ( Am I not right ??)

No, It was around 4816 & now it already touched. :thumb:

 

[eevra]

No, It was around 4816 & now it already touched. :thumb:

OK thanks for this info.

 

[achopraa]

SH,

Not sure which thread should this question go to, hence posting here since you referred to the books in this thread.
I can see 2 (basic) things happening Over Past 3 Days (including today):
1. I see Yesterday's candle of Nifty Future's as Kangaroo's Tail given the fact that there is a long wick out there hanging.
2. I see a double bottom (but probably the second one should have been of the same level as the first).
Are my above observations correct?

 

[prst]

is the eod price candle touching 3EMA today ?
or should we exit our short position tomorrow morning?

 

[trader_boy]

is the eod price candle touching 3EMA today ?
or should we exit our short position tomorrow morning?

at toays ltp(4764), 3ema was 4799.82...which is less than todays high 4848...hence candle was touching 3ema at close ...we exit shorts tomorrow @open if there is a gap down opening!

 

[bestnifty]

at toays ltp(4764), 3ema was 4799.82...which is less than todays high 4848...hence candle was touching 3ema at close ...we exit shorts tomorrow @open if there is a gap down opening!

Why should we exit shorts ? I thought we should hold till reverse crossover occurs .A little explanation needed .

 

[achopraa]

at toays ltp(4764), 3ema was 4799.82...which is less than todays high 4848...hence candle was touching 3ema at close ...we exit shorts tomorrow @open if there is a gap down opening!

Just a point, why weren't the shorts covered today morning?

The 3 EMA was at 4850 (based on y'day's closing price of 4835).
This morning, NIFTY FUT opened at 4800 (50 points gap down) and then moved all the way down till 4761 before becoming a rocket.
So, we had a GAP DOWN OPENING which went further 40 ponts South. IMHO, Cover shorts was the call.

Also, when the Market reached 4770 -4780 (it was stable for a while here), the 3EMA value was 4812 and so when the market fired up, NEW Shorts should have been Entered at 4812 (or EMA touch).

So Over All, as per me, this should have been the picture.
13 Dec - Shorts Opened at 4835
14 Dec - Shorts Covered at 4775
14 Dec - Short Entered at 4812

Any thoughts?

 

[trader_boy]

we exit in case theres a gap down opening to book some profits as per the 3ema touch rule of this strategy ....we again reenter shorts at 3ema touch...

 

[trader_boy]

Just a point, why weren't the shorts covered today morning?

The 3 EMA was at 4850 (based on y'day's closing price of 4835).
This morning, NIFTY FUT opened at 4800 (50 points gap down) and then moved all the way down till 4761 before becoming a rocket.
So, we had a GAP DOWN OPENING which went further 40 ponts South. IMHO, Cover shorts was the call.

Also, when the Market reached 4770 -4780 (it was stable for a while here), the 3EMA value was 4812 and so when the market fired up, NEW Shorts should have been Entered at 4812 (or EMA touch).

So Over All, as per me, this should have been the picture.
13 Dec - Shorts Opened at 4835
14 Dec - Shorts Covered at 4775
14 Dec - Short Entered at 4812

Any thoughts?

this morning NF opened @4800 ....so todays 3ema @open was 4817.82...which was just 18 points away ...so no booking
You have calculated the difference between todays open and yesterdays closing 3ema.
It would have been a gapdown booking opportunity if NF would have opened today in the zone 4750-4755.

just what i think.correct if wrong

 

[achopraa]

this morning NF opened @4800 ....so todays 3ema @open was 4817.82...which was just 18 points away ...so no booking
You have calculated the difference between todays open and yesterdays closing 3ema.
It would have been a gapdown booking opportunity if NF would have opened today in the zone 4750-4755.

just what i think.correct if wrong

Mate,

This is the strategy from what I understood and have been following:

1. What is the 3 EMA value at start of Day(Based on Y'day's close)?
2. What is the Opening Price?
3. If (3EMA Value) - (Opening Price) > (30~40), then COVER SHORTS

AC