Thomas DeMark Sequential System
- Thread starter leo_3455
- Start date
TATA STEEL WEEKLY CHART
12th bar of TD COMBO in progress...
For Combo, the setup stage of 9 consecutive setup bars should be complete. From your chart it appears that the setup was discontinued as it failed on 7th bar...so set up has to start again...combo cannot continue till set up is complete.
Smart_trade
In Nifty , todays bar has failed to qualify as Buy set up bar as it closed above the close of a bar 4 days ago. So the ongoing buy setup is discontinued. After Sequential sell signal the discontinuation of buy set up means either of the two :
1) Set up has to start afresh and then the countdown. OR
2) The downmove was a correction in the uptrend and the uptrend will continue making a new high.
At this stage both possibilities are open. But when this setup is discontinued, it is better to be cautious and book as of today's close 50 % profits on the sell position taken on Sequential sell signal above 6340 and wait for the market to unfold further.
Smart_trade
1) Set up has to start afresh and then the countdown. OR
2) The downmove was a correction in the uptrend and the uptrend will continue making a new high.
At this stage both possibilities are open. But when this setup is discontinued, it is better to be cautious and book as of today's close 50 % profits on the sell position taken on Sequential sell signal above 6340 and wait for the market to unfold further.
Smart_trade
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