Thoughts on Day/Swing Trading Part 2
- Thread starter DanPickUp
- Start date
Hi trade4joisar,
please visit the following link...which is a thread initiated by me on pnf charting ...it may answer your question 2...
http://www.traderji.com/technical-analysis/42121-point-figure-charting.html
Those numbers and alphabets are the first markings of a month on a pnf chart....The months are indicated by 1 to 9 for January to September and A, B, C respectively for the months of October, November and December...
Those lines are called trend lines....
All the best,
praveen
please visit the following link...which is a thread initiated by me on pnf charting ...it may answer your question 2...
http://www.traderji.com/technical-analysis/42121-point-figure-charting.html
Those numbers and alphabets are the first markings of a month on a pnf chart....The months are indicated by 1 to 9 for January to September and A, B, C respectively for the months of October, November and December...
Those lines are called trend lines....
All the best,
praveen
Today's chart of Bajajauto-cash is attached.5minTF.
Twice there was B/D after consolidation,but failed with subsequent Green candle.
Second time ,the low of the previous Bear candle was also Breached,but still failed with Green candle.
Nodoubt,third time,the stock came down,but Not appreciably compared to its price.
Pl discuss what went wrong w r t Smart's strategy of Trading B/o
Uploaded with ImageShack.us
Twice there was B/D after consolidation,but failed with subsequent Green candle.
Second time ,the low of the previous Bear candle was also Breached,but still failed with Green candle.
Nodoubt,third time,the stock came down,but Not appreciably compared to its price.
Pl discuss what went wrong w r t Smart's strategy of Trading B/o
Uploaded with ImageShack.us
Amalgamation of Timeframes
Posting todays Nifty Futures 5 min chart :
The chart shows a sell signal on 5 min timeframe. Also see the areas marked by red ellipse which is a support area and we should cover our short positions here.
Now let us see what the 15 min charts was showing when 5 min was giving a sell signal :
15 min chart also showing a clear sell.....if you see 30 min chart also you will see a inverted hammer with long tail which is a reversal sign.
So all timeframes are agreeing on sell trade and this is called timeframe amalgamation. When 2 or more timeframes agree on a trade, that trade has a high probability of success....and our NF trade had all the timeframes speaking the same thing all togather.
Note : This is not my idea, I have learnt this timeframe amalgamation from Saint and we were using it in Intraday miniflow method which we used to trade.
Though I trade different methods now, but timeframe amalgamation is something I always see and find it very useful in taking high probability trades.
Happy Trading,
Smart_trade
Posting todays Nifty Futures 5 min chart :
The chart shows a sell signal on 5 min timeframe. Also see the areas marked by red ellipse which is a support area and we should cover our short positions here.
Now let us see what the 15 min charts was showing when 5 min was giving a sell signal :
15 min chart also showing a clear sell.....if you see 30 min chart also you will see a inverted hammer with long tail which is a reversal sign.
So all timeframes are agreeing on sell trade and this is called timeframe amalgamation. When 2 or more timeframes agree on a trade, that trade has a high probability of success....and our NF trade had all the timeframes speaking the same thing all togather.
Note : This is not my idea, I have learnt this timeframe amalgamation from Saint and we were using it in Intraday miniflow method which we used to trade.
Though I trade different methods now, but timeframe amalgamation is something I always see and find it very useful in taking high probability trades.
Happy Trading,
Smart_trade
Amalgamation of Timeframes
Posting todays Nifty Futures 5 min chart :
The chart shows a sell signal on 5 min timeframe. Also see the areas marked by red ellipse which is a support area and we should cover our short positions here.
Now let us see what the 15 min charts was showing when 5 min was giving a sell signal :
15 min chart also showing a clear sell.....if you see 30 min chart also you will see a inverted hammer with long tail which is a reversal sign.
So all timeframes are agreeing on sell trade and this is called timeframe amalgamation. When 2 or more timeframes agree on a trade, that trade has a high probability of success....and our NF trade had all the timeframes speaking the same thing all togather.
Note : This is not my idea, I have learnt this timeframe amalgamation from Saint and we were using it in Intraday miniflow method which we used to trade.
Though I trade different methods now, but timeframe amalgamation is something I always see and find it very useful in taking high probability trades.
Happy Trading,
Smart_trade
Posting todays Nifty Futures 5 min chart :
The chart shows a sell signal on 5 min timeframe. Also see the areas marked by red ellipse which is a support area and we should cover our short positions here.
Now let us see what the 15 min charts was showing when 5 min was giving a sell signal :
15 min chart also showing a clear sell.....if you see 30 min chart also you will see a inverted hammer with long tail which is a reversal sign.
So all timeframes are agreeing on sell trade and this is called timeframe amalgamation. When 2 or more timeframes agree on a trade, that trade has a high probability of success....and our NF trade had all the timeframes speaking the same thing all togather.
Note : This is not my idea, I have learnt this timeframe amalgamation from Saint and we were using it in Intraday miniflow method which we used to trade.
Though I trade different methods now, but timeframe amalgamation is something I always see and find it very useful in taking high probability trades.
Happy Trading,
Smart_trade
Small tiny pivot breaks,a small correction in the form of a flag dont normally have timeframe amalgamation and the timeframe amalgamation saves us from entering into such trades which are against the main trend. These trades have very low success rate and hence best be avoided.
I will try to post some trades which donot have timeframe amalgamation going for them.
Smart_trade
I will try to post some trades which donot have timeframe amalgamation going for them.
Smart_trade
Thomas DeMark's Sequential Method
Most of the methods I trade are trend following methods and I do not attempt to forecast the trend, targets,reversals etc. But a few techniques are my favourite which are trend anticipatory techniques and these methods anticipate exhaustion of the existing trend and likely reversal. One such method is TD Sequential.
I have posted above the Nifty Futures daily timeframe chart with Sequential set up and countdown markings. we have today completed 10 days of count down out of total 13 required. We want day 13 close to be above day 6 close.
There is a TD Sequential thread in TJ....traders who are interested in learning more can refer to that thread. I will post same chart in that thread too....
Smart_trade
Most of the methods I trade are trend following methods and I do not attempt to forecast the trend, targets,reversals etc. But a few techniques are my favourite which are trend anticipatory techniques and these methods anticipate exhaustion of the existing trend and likely reversal. One such method is TD Sequential.
I have posted above the Nifty Futures daily timeframe chart with Sequential set up and countdown markings. we have today completed 10 days of count down out of total 13 required. We want day 13 close to be above day 6 close.
There is a TD Sequential thread in TJ....traders who are interested in learning more can refer to that thread. I will post same chart in that thread too....
Smart_trade
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