Thomas DeMark Sequential System

[timepass]

It does not make any change. In Nifty Index chart, we have completed 13 sell countdown bars and we are in sell mode as of now. The sell is not triggered as yet as we need a day where closing is less than opening in Nifty ( Index, not futures) and close of that day will be sell point. Our stoploss will be at 6309.65 +73.15 =6382.80 and if the Nifty Index closes above this level and the next day high of that level is taken out, the short trade is stopped out.

When there is a large difference between cash and futures, I prefer to get confirmatory signal on cash charts in addition to futures.

In November NF continuous futures chart it has completed 13 count down bars on 1-11-2013 and now we have to wait for a downclose day to trigger a sell signal.So for NF November futures the stoploss level will be at 6425.85

Smart_trade

Thanks. Can you also update the status of BNF ??

 

[Smart_trade]

Thanks rkk for the eBook.
Thanks for this detailed reply ST ! :thumb:
Another thing : As this is a weekly chart, do we now need a weekly candle where the close is lower than the opening to confirm a SELL?

The Sequential sell is on daily chart so we need a day where close is less than open or a red candle on candlestick chart.

The weekly chart posted by Nirav shows completion of 9 sell set up bars and by Power of 9 also the market looks stretched and poised for a deep correction on weekly charts.

Smart_trade

 

[Smart_trade]

Thanks. Can you also update the status of BNF ??

Bank Nifty Index has failed on 9th bar of the set up phase. But 8 bars are ok. I have observed this tendency even in intraday Bank Nifty that it does setups of 8 bars and fails on the 9th bar.This is peculiar to Bank Nifty. If that is taken as an acceptable set up, then Bank Nifty also has completed 13 sell countdown on 01-11-2013.

Smart_trade

 

[nirav_j]

Weekly BNF.

For the record I hate those Algo's @ BNF options. :annoyed:

But anyway, Wish everyone here a Very Happy Diwali and 'Saal Mubarak' ...

 

[trader15]

The Sequential sell is on daily chart so we need a day where close is less than open or a red candle on candlestick chart.

The weekly chart posted by Nirav shows completion of 9 sell set up bars and by Power of 9 also the market looks stretched and poised for a deep correction on weekly charts.

Smart_trade

What's the definition of deep correction as per this system. Can u point to niravs chart or any other to help understand where as per this system market will correct. What are intermediate points to calculate where mkt will pause during fall.

Thanks in advandce and Happy diwalia

 

[TraderRavi]

Happy diwalia

:annoyed::annoyed::annoyed:

 

[TopGearTrades]

I see that Nifty is generating a Combo 13 today (counting from September 2). The last sell signals worked well; May 20th and January 18th. Watch/wait for the reversal.

 

[anup]

I think today we might close in red... So according to Smart Trade the condition for downtrend might be met today...We can initiate short trade at EOD

 

[trade4joisar]

The Sequential sell is on daily chart so we need a day where close is less than open or a red candle on candlestick chart.

The weekly chart posted by Nirav shows completion of 9 sell set up bars and by Power of 9 also the market looks stretched and poised for a deep correction on weekly charts.

Smart_trade

On Muhurat trading, close was less than open, should we consider that, or need full session?

I was short small qty on muturat at close and exited today with profit.

 

[TopGearTrades]

Sorry. Nov 1 generated a 12 count on Combo. I was assuming that based upon other markets on Monday that there would be follow-through on the NIFTY. We are still waiting for the 13.