Thoughts on Day/Swing Trading Part 2

[balasoft80]

Hello ST,
Did you happen to see my post(3rd from top) in the previous page? Could you please throw some light on the following clarifications? Not urgent and you can reply based on your availability.

What is your interpretation on long trend bar closing it's top and middle in the existing uptrend? What is your views on the 4 or 5 bars next to long trend bar in the existing uptrend? Please look at the below charts. These are some common things I am seeing in the existing charts. We may give our profits back to market If we just keep the SL below of the bar. Not sure where to put/trail our SL.

Please share your views.

 

[friendforevers0007]

seems this thread is dead . st DA we need your contribution. please guide us!!!!

 

[timepass]

seems this thread is dead . st DA we need your contribution. please guide us!!!!

Post some relevant query.. get him interested. I am sure that he will answer here, as before.

 

[friendforevers0007]

bala already had asked question

 

[prabhsingh]

Since we are already talking about Rejections and Failures,just felt to post chart for Strerlite Industries and take expert comments.If you look at attached image,Ster is showing its rejection to cross 105 mark.It tried twice but failed to do so shall we take this as resumption of downward trend for Ster?Another point which needs to be drawn attention is its 20 EMA value.Since today's close 101.2 is still greater than 20 EMA 100.8 that bit makes me uncomfortable to take short position in Ster.

Will highly appreciate if ST/Seniors can make some comments on this one.

 

[Smart_trade]

This thread is not a every day trading commentry thread and it is a thread on trading ideas. If I come across any new trading idea I will certainly post the same. But enough has already been posted in this thread for anyone to learn.

Trading ideas are not generated every day.....so this thread will not have posts too regularly. I read all the posts in this thread and reply which I feel will add some value by my reply.

Smart_trade

 

[prabhsingh]

Since we are already talking about Rejections and Failures,just felt to post chart for Strerlite Industries and take expert comments.If you look at attached image,Ster is showing its rejection to cross 105 mark.It tried twice but failed to do so shall we take this as resumption of downward trend for Ster?Another point which needs to be drawn attention is its 20 EMA value.Since today's close 101.2 is still greater than 20 EMA 100.8 that bit makes me uncomfortable to take short position in Ster.

Will highly appreciate if ST/Seniors can make some comments on this one.

After couple of attempts this stock was not able to break resistance level hence it felt down.Today it was down with -3.33%.Thanks to ST Sir for showing new direction for Rej and failure.ST sir what are your experts comments for same.Kindly do provide feedback if you think there are any gaps in performing technical analysis for R&F.

 

[friendforevers0007]

dear seniors n all

from where we can get business news and important news and major events to watch fast and anyone used newswire 18 terminal ?? any reviews on it

 

[merchantp]

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After long posting in TJ.
First of all a big thanks to ST Da. Learnt all the basics from his posts, chats & interactionsa big gratitude for all his support & effort.
Here , putting the different perspective based on Al Brooks way of trading price action. As we all aware market is controlled by institutions & most of their trading either based on some algo.,or HFT, or whatever name we give. & their entries & exits are always based on some calculations or any model they followwith minimal human interference.

Now on 14th we have strong b/o , a parabolic move , a strong move so we can expect the test of its high. Also the move was parabolic we should expect deep correction & we have deep correction on 16th in channel & price all the way came & tested the breakout point at Ba breakout test, to see still buyers aroundso on 17th it got strong buying from open and it made strong spike from point C-D, then we have test of 14th High, & tries to break couple of time or can say it made double top, but after forming double top, it went is tight trading rangenot breaking downmeans price was accepting that top & this was obvious by 12.05 bar on 17th after breaking down it turn into reversal bar, this means we can expect at least the Measured move based on spike C-D, i.e. the open or Low of first bar 5383-5385till the close of 9.30 bar i.e. 5402, approx.. 20 point market topped at 12.30 bar at 5423so ideal place to exit or book maximum profit. Then we had strong spike till 12.50 & its Measured move target was till Low of first bar, but this time it was overwhelmed by strong bear, so next target we can expect from Low or open of first bar till HOD, or minimum close of high, so if we deduct from the close of 12.30 bar i.e .5419 till the open of first bar, 5385(lowest target) i.e. 34 pointand days low was around 5351approx.. 34 point & it was also major trend channel line overshootso we have two major point for correction for at least 2 legand that we get first leg spike from 13.55 bar till 2 PM, bar followed by second leg based on first leg measured move target that we got on 14.25 bar.
What I observe specially in BNF & NIFTY most of the moves are based on math only.& majority of time price reacts on these calculations, either by undershooting or overshooting by few points.so many a time it looks like the price all the way came & eat the stop loss, but in reality it is just the math.

Hi Rajesh,

Profounding reasearch, can you please post some more charts with explanation, reading Al Brooks book is not easy, but your charts will help to crack some explanations written in his book. ST Sir has already given you go ahead to post some charts with explanation. Maybe you can share some knowledge of Al Brooks on this thread.

Kind Regards,
Merchant

 

[rajesh.singh]

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Hi Merchant,
Bit tied with personal chores , so right now not in position to post regularly, for sure when time permits will share my little knowledge on Al Brooks set ups. As I have no idea what all you read & trade, today giving you some idea about Measured move, this help us in remain in trade in strong trend as well as appropriate point for taking profits & exits. On my personal experience it works like charm on BNF, NIFTY , & in past also I tested on stock, there too it worked perfectly. Measured move can be calculated based on swing high/low, spikes, open of the day to High/low of day, range high/low, wedges ,double top/bottoms & other patterns.
From the calculation point of view we should take conservative figure first & if move continues then we can take larger targetfor e.g. calculate open & close first, then high & low & these calculations we need to do real time as per price action & accordingly we can adjust our targets.
Below is the chart of Hindalco for reference.
Yday we had gap down followed by two trend bars, a trend from open day, it tried to reverse but failed at 123.50..a b/o test , followed by prolonged sideways, then it broke down. Now see yday high was 124.5 & the low of 9.20 bar was 122.1. once 12.50 bar strongly broke its low , we can expect Measured move down based on HOD & the low of 9.20 bar, i.e. From A-B, 124.5-122.1= 2.4, points, so our expected swing target is around 119.7, that we got around 2 Pm, at C . You can observe after Measured move target it strongly broke the major trendline & was able to close above MA line, prior to that we dont have single close above MA, showing the strength of trend & the majority of player either exited in that zone or initiated the long.
From D-E, was good spike, so if we get follow-up this should be our first target, that we will look for today i.e. from 119.6- 121.15, 1.4-1.55point, i.e. 121.15+ 1.4= 122.55 at point F & Hindalclo topped there, showing the strength of prevailing trend .
Today also we had the bearish biases, and once it broke down our first target was from Point F-G, that we got on 13.05 bar at H, but it not reverse from there, so we can look for bigger target, since this move continues from Yday & yday we had strong spike down from I-J, so this is our next target, i.e. from 123-120.40 or 120.25, i.e.2.4, means 117.80- 60 zone, & today LOD was 117.85 & we got our target at K.

Similar kind of Measured move you can do for say in BNF today, today High was 11680 & first bar was strong trend bar & once market broke below it close we can expect the measured move, first bar close was 11555,
11680-11555= 125 point, 11555-125= 11430, today LOD was 11422 & you can see very strong reversal bar in BNF after hitting the target, also it was b/o test & filled the gap too.
Hope this might help.
Regards