SH's 315 Strategy - how to use if effectively

[vinst]

Hi SH,

Even I am also long on ICICI @ 834.50 .. cheers mate..:clap:
Also I am long on CNXIT @ 5755... lets c how it goes...

Few doubts about other positions:

Thanks...

Hello Amol,
As per my chart cnxit has shown bullish crossover yesterday (black MA is 3ema, yellow MA is 15ema). white is stochastics.

regards,
vin

 

[observer]

SH, should we enter long in nifty eod even if it does not retrace to 3ema or wait for it to retrace and then enter?

 

[sujittalukder]

I have read your thread twa days back and now trying to apply the strategy.
Today I found 1 stock that is matching your strategy.
But before that I want to confirm whehtre Ia m correct or not.
Attached is the chart of Sesagoa for 3 months.
on 10/02/2010, the EMA cross over took place.
on 11/02/2010, the entry should have been taken.
Suppose I entered on 11/02/2010 at nearabout high price say at 385.
But on 16/02/2010, the prices again nearabout 15EMA.
Can we enter now in the stock?

One more queriy:
Should we apply the strategy on daily chart with OHLC data or weekly chart?

 

[rkkarnani]

SH, should we enter long in nifty eod even if it does not retrace to 3ema or wait for it to retrace and then enter?

Observer,
Dont we enter long on crossover!!! We were short and are waiting for the 3EMA to cross 15EMA from below to go long!!
My understanding is that we enter long at close when we are sure that the 3EMA would remain above 15EMA, we do not wait for the price to retrace to 3 EMA.
Retracement to 3 EMA is applicable after we exit our position and to re-enter in the same direction we wait for a retracement.

Request SH to confirm my view please!!!

 

[Even Money]

Hello Amol,
As per my chart cnxit has shown bullish crossover yesterday (black MA is 3ema, yellow MA is 15ema). white is stochastics.

regards,
vin

CNXIT, a difficult contract to trade due to ill liquidity! At least I find it a bit uncomfortable to trade!!

 

[Tradewithhunter]

Observer,
Dont we enter long on crossover!!! We were short and are waiting for the 3EMA to cross 15EMA from below to go long!!
My understanding is that we enter long at close when we are sure that the 3EMA would remain above 15EMA, we do not wait for the price to retrace to 3 EMA.
Retracement to 3 EMA is applicable after we exit our position and to re-enter in the same direction we wait for a retracement.

Request SH to confirm my view please!!!

Spot on answer !!

Cheers
SH

 

[observer]

Observer,
Dont we enter long on crossover!!! We were short and are waiting for the 3EMA to cross 15EMA from below to go long!!
My understanding is that we enter long at close when we are sure that the 3EMA would remain above 15EMA, we do not wait for the price to retrace to 3 EMA.
Retracement to 3 EMA is applicable after we exit our position and to re-enter in the same direction we wait for a retracement.

Request SH to confirm my view please!!!

Well todays crossover got muted eod.
But my query was , the price opened above the 3ema and was indicating long xover at the same time. As SH says the price tends to retrace back to 3ema during the day or within 3days. Since we had two events at the same time, 315 cross and opening away from 3ema(possibility of price correction), I could not determine which way to go.

Thanks

 

[Tradewithhunter]

Hi Friends

NF has touched 15 EMA now at 4870 hence I have opened fresh shorts (the one that I had booked earlier around 4700 on 5th Feb gap down.

ICICI longed at 834 now.
Unitech longed at 75.50
IFCI opened shorts 50.90 (15 EMA touch)


Cheers
SH

Nifty shorts closed and Longs opened at 4908 levels. Loss in shorts of 38 points.

Holding ICICI longs, Unitech longs and IFCI shorts.

Cheers
SH

 

[Tradewithhunter]

I have read your thread twa days back and now trying to apply the strategy.
Today I found 1 stock that is matching your strategy.
But before that I want to confirm whehtre Ia m correct or not.
Attached is the chart of Sesagoa for 3 months.
on 10/02/2010, the EMA cross over took place.
on 11/02/2010, the entry should have been taken.
Suppose I entered on 11/02/2010 at nearabout high price say at 385.
But on 16/02/2010, the prices again nearabout 15EMA.
Can we enter now in the stock?

One more queriy:
Should we apply the strategy on daily chart with OHLC data or weekly chart?

Yes, entering a stock at 15 EMA is advisable since it is low risk provided you are ready to reverse if the 315 crossover happens in the opposite direction.

We use EOD data.

Cheers
SH

 

[prabit]

Nifty shorts closed and Longs opened at 4908 levels. Loss in shorts of 38 points.

Holding ICICI longs, Unitech longs and IFCI shorts.

Cheers
SH

I am also long at 4914. But may be long entered in a haste,crossover was marginal and today till now market is weak. I today it closes down 315 will be just on border.But if it sustains early entry will give more gain. May be this is aggressive entry. However, some amount of chance and risk can be taken while fundamentally USA market is strong, indian data is strong except inflation data and fear of stimulas withdrawal. But the point is for technical trading if you follow a system/strategy, you have to follow the rules strictly. If it does not work, you should modify the rules. But at least nobody should hold short now. Let us hope for the best.
Happy trading.