SH's 315 Strategy - how to use if effectively

[Tradewithhunter]

Given that EMA is calculated based on current day closing price. Can someone explain how can we obtain the 3EMA price at 3.25pm on a EOD chart when the market has not even close for the day?

Regards
helion

If you use a software that provides real time EOD data with current day's candle as dynamic candle which keeps changing shape as the CMP moves up or down .. you will be able to see how current days candle and the EMAs are looking like at 3.28 PM. You dont have to wait for later in the evening or next morning to see that.

I use sharekhan terminal for charting and they provide dynamic EOD candle. Icharts also provides the same.

Manually, if you know how to calculate EMAs using MS Excel - you can put previous two days closing prices... put the price at 3.28 PM today as DAY 3 price and you will get the 3EMA value as of at 3.28 PM.

Similarly, you can get 15 EMA ... compare 3 EMA and 15 EMA .. if 3EMA > 15 EMA its a bullish crossover or visa versa.

Cheers
SH

 

[sujittalukder]

On Friday, bullish crossover of EMAs on Nifty as well as many indivdual stocks took place viz. RelCapital,SAIL,etc. Are these buying candidates now?
Experts may express their opinion to confirm my view on the topic as still I am learning this method.

 

[Sukhi_Aatma]

If you use a software that provides real time EOD data with current day's candle as dynamic candle which keeps changing shape as the CMP moves up or down .. you will be able to see how current days candle and the EMAs are looking like at 3.28 PM. You dont have to wait for later in the evening or next morning to see that.

I use sharekhan terminal for charting and they provide dynamic EOD candle. Icharts also provides the same.

Manually, if you know how to calculate EMAs using MS Excel - you can put previous two days closing prices... put the price at 3.28 PM today as DAY 3 price and you will get the 3EMA value as of at 3.28 PM.

Similarly, you can get 15 EMA ... compare 3 EMA and 15 EMA .. if 3EMA > 15 EMA its a bullish crossover or visa versa.

Cheers
SH

:clapping::clapping::clapping: this is what I was looking for and found it myself ( the dynamic EOD Candle).

Posting a chart of today just as an example of dynamic EOD. My charting software is showing the candle at 10:07 AM and we all know this is not the time market closes for the day.

Link to Chart => http://img191.imageshack.us/img191/2589/dynamiceod.gif

All Is Well
Sukhi Aatma

 

[Sukhi_Aatma]

On Friday, bullish crossover of EMAs on Nifty as well as many indivdual stocks took place viz. RelCapital,SAIL,etc. Are these buying candidates now?
Experts may express their opinion to confirm my view on the topic as still I am learning this method.

Yes, bullish crossover did happen for all these three, but as you said you are still learning. I would recommend to

=> use this strategy first on paper trades, do some backtesting and get comfortable.
=> This stratagey is majorly used for Futures.

All Is Well
Sukhi Aatma

 

[Satyen]

I just Loved your ID " Sukhi Atma "

 

[vinst]

Hi Vinst - that is really funny... can you provide the name and number of the person who has advertised on business line.. I will call them and ask for Royalty :rofl:

Cheers
SH

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[itprodeepak]

Larsen & Toubro Closed @ 1585 today away from 3EMA which is @ 1562 and not touching the 3 EMA.

Other Indicators giving an opportunity to go short for targets 3 EMA and Bollinger Band Upper Limit both @ 1563-1562 tomorrow:
1. Short Term RSI(2) Indicator overbought @ 99.69
2. Stock Trading Out of Bollinger Band (20,2) Upper End which is @ 1563. Complete Candle is outside of the Bollinger Band.

See the Picture Below :

Everyone's Comments are welcome...

Thanks,

Deepak

 

[vinst]

Larsen & Toubro Closed @ 1585 today away from 3EMA which is @ 1562 and not touching the 3 EMA.

Other Indicators giving an opportunity to go short for targets 3 EMA and Bollinger Band Upper Limit both @ 1563-1562 tomorrow:
1. Short Term RSI(2) Indicator overbought @ 99.69
2. Stock Trading Out of Bollinger Band (20,2) Upper End which is @ 1563. Complete Candle is outside of the Bollinger Band.

See the Picture Below :

Everyone's Comments are welcome...

Thanks,

Deepak

candles can remain out of Bollinger band for 2-4 days. rsi2 can also remain overbought for > 2 day. what else prompts to short?

 

[itprodeepak]

candles can remain out of Bollinger band for 2-4 days. rsi2 can also remain overbought for > 2 day. what else prompts to short?

Hi Vinst,

Thanks for your comments. The main reason to short was candle not touching 3 EMA and rest indicators are supporting this. So, I shared this information.. Lets see what happens tomorrow and in next 2-3 days..

 

[rkkarnani]

Larsen & Toubro Closed @ 1585 today away from 3EMA which is @ 1562 and not touching the 3 EMA.

Other Indicators giving an opportunity to go short for targets 3 EMA and Bollinger Band Upper Limit both @ 1563-1562 tomorrow:
1. Short Term RSI(2) Indicator overbought @ 99.69
2. Stock Trading Out of Bollinger Band (20,2) Upper End which is @ 1563. Complete Candle is outside of the Bollinger Band.

See the Picture Below :

Everyone's Comments are welcome...

Thanks,

Deepak

We went long as per 315 crossover on 18th Feb at close!!! levels as per my charts is 1476.

The price bars till yesterday were very well within 3 EMA!! Today for the stock LnT opened with a gap above 3 EMA, as per rule of this strategy we "Exit our Long" We do not take a short position!!! We simply wait to go long again when price retraces to 3 EMA!!! So as per my understanding there was no question of going short per this system of trade as laid down by SH!!! You may have other indicators that gave shorting signal but not SH's 315!!