SH's 315 Strategy - how to use if effectively

[ketanss]

Hi Satyen,

In using 315 EMA using 3 min timeframe, for intraday trading a few things need to be followed.( i myself am guilty of not following these many times)
1) Targets and SLs need to be very tight for such trades.
2) You may not get such a setup everyday so one needs to wait/search for such a setup. Many a times anticipating such a setup, trades do wrong very often

I am attaching a image for a trade I took on 21st March
2 lots of Nifty,long at 5282, after confirmation of one more candle after crossover.
SL was the lowest point of the day @ 5258 and my target was at 5302.( 20 points on 2 lots = +2000 points).For an intrday, even small profits are fine
Also a trade like this was achieved in about 20 mins.:thumb:
You can also note from the chart that on 21st it started from being close to overbought, came to oversold and went back to overbought and price also moved accordingly.

Hope this helps.

 

[anilnegi]

you may be talking about these levels, in my point of view, it is extremely dangerous to use this setup on a lower TF, as there are some points

1. You are watching an extremely trending day.
2. an oversold stock can become overbought in a whisper, within 4/5 candles, means 12-15 minute.
3. Your stoploss is of 24 points and target of 20 points, which is not acceptable as per money management.

is there anything i am missing

Uploaded with ImageShack.us

Hi Satyen,

In using 315 EMA using 3 min timeframe, for intraday trading a few things need to be followed.( i myself am guilty of not following these many times)
1) Targets and SLs need to be very tight for such trades.
2) You may not get such a setup everyday so one needs to wait/search for such a setup. Many a times anticipating such a setup, trades do wrong very often

I am attaching a image for a trade I took on 21st March
2 lots of Nifty,long at 5282, after confirmation of one more candle after crossover.
SL was the lowest point of the day @ 5258 and my target was at 5302.( 20 points on 2 lots = +2000 points).For an intrday, even small profits are fine
Also a trade like this was achieved in about 20 mins.:thumb:
You can also note from the chart that on 21st it started from being close to overbought, came to oversold and went back to overbought and price also moved accordingly.

 

[FanaticTrader]

you may be talking about these levels, in my point of view, it is extremely dangerous to use this setup on a lower TF, as there are some points

1. You are watching an extremely trending day.
2. an oversold stock can become overbought in a whisper, within 4/5 candles, means 12-15 minute.
3. Your stoploss is of 24 points and target of 20 points, which is not acceptable as per money management.

is there anything i am missing

Uploaded with ImageShack.us

Good points Anil. Only thing which I feel can be added here is that if we trade using 315 setup on lower TF (for which it was not meant) we would not be able to apply all rules of the setup. Also I completely agree that on a choppy day this can backfire big time

 

[AlokTewari]

26th March

Expect some good upmove in CNXIT, Infy & TCS.

Upmove also expected in Petronet, Praj & Renuka ( possible sugar export allowed in GOM meeting tomorrow ).

Downside candidates are Century ( double top ), Maruti, Titan & Voltas

Cheers !!!!

Alok Tewari

 

[sonai_81]

Can anyone help me to calculate SMA..

Suppose I want to calculate SMA10. I know, last SMA 10 value was, say 5265 and today's closing is 5194. Now I want to calculate today's SMA 10.

My calculation is
(5265 * 9 + 5194)/10 = 5257.9..

Is it my correct calculation? Please help..

 

[sunilrhs]

Can anyone help me to what level should i look at ...I mean March Series ended at 5177 and april series started at 5242...how to accomodate this GAP in the calculation....kindly help...

 

[vinst]

add to short at 15ema

 

[cap21]

Dear friend
can we add short daily charts 15 ema or 30 min charts 15 ema!
Pls reply

 

[timepass]

AT this point, in Apr futures, today's 15EMA is greater than yesterday's 15EMA. Let's wait for 3.25pm.

 

[bali007]

AT this point, in Apr futures, today's 15EMA is greater than yesterday's 15EMA. Let's wait for 3.25pm.

add short or wait for next day??