Thoughts on Day/Swing Trading Part 2

[mangup]

VWAP Trade:- VWAP of Nifty Future is < 25 points than LTP. Seems shorters will be caught & will come to cover there shorts, which may push nifty up from CMP - 5767.
Let's watch it carefully.

 

[mangup]

VWAP Trade:- VWAP of Nifty Future is < 25 points than LTP. Seems shorters will be caught & will come to cover there shorts, which may push nifty up from CMP - 5767.
Let's watch it carefully.

VWAP trade not worked that day. Closed at that level only.

 

[anuragmunjal]

Dear ST

I am pasting two charts of Rcft, one 60min and other 15min (for reference), if possible could u show how u wd trade the 60 min chart frm the underlined part.

thanx in advance

regards

Anurag

 

[awels]

I am not so experienced trader..but have been booking profits regularly from day one....I follow very simple thumb rule....that is overbought and oversold....I use RSI with default values of 70 and 30...that is all and very disciplined.....

 

[timepass]

I am not so experienced trader..but have been booking profits regularly from day one....I follow very simple thumb rule....that is overbought and oversold....I use RSI with default values of 70 and 30...that is all and very disciplined.....

Which time frame do you use ?

 

[Smart_trade]

Dear ST

I am pasting two charts of Rcft, one 60min and other 15min (for reference), if possible could u show how u wd trade the 60 min chart frm the underlined part.

thanx in advance

regards

Anurag

I will go long after the underlined part above a small pivot high. The reason is the failure of breakdown and the earlier lows held well.This means that the bears are not able to gather strength to push and keep the price down and they are loosing the control . Small bars at breakdown also indicate no aggressive selling.The long trade is confirmed by the price action of a strong bullish bar after the pivot high is taken out. Will stay long till the end of the day.

Next day will go short below the first bar low.

Smart_trade

 

[VIKAS 21]

I will go long after the underlined part above a small pivot high. The reason is the failure of breakdown and the earlier lows held well.This means that the bears are not able to gather strength to push and keep the price down and they are loosing the control . Small bars at breakdown also indicate no aggressive selling.The long trade is confirmed by the price action of a strong bullish bar after the pivot high is taken out. Will stay long till the end of the day.

Next day will go short below the first bar low.

Smart_trade

Dear ST Sir

Next day first bar is strong red bar & is at previous resistance level ,Do we have any other clue beside this??

i.e No PL crack /Breakout failure or any candlestic pattern....

 

[anuragmunjal]

Dear ST

thanks a ton for taking out the time and clearing my doubts again.

regards

 

[Smart_trade]

Dear ST Sir

Next day first bar is strong red bar & is at previous resistance level ,Do we have any other clue beside this??

i.e No PL crack /Breakout failure or any candlestic pattern....

Reasons :

1) Opened with a small gap and the opening price rejected immediately.

2) Opened above the high of April 9, but failed and closed below it.

3) This is a specific pattern in which a PH is made and in next 4 bars the market closes below the lowest close of last 4 bars. This is TD Point Reversal Pattern which is very accurate for reversals.

4) Market closing below last 3 candles is a bearish sign.

Smart_trade

 

[Raghuveer]

ST da, For the TD-Point reversal, is this numbering correct?
(basically I am asking should we ignore the small doji like "dash" to the left of the opening big red bar)

Reasons :

1) Opened with a small gap and the opening price rejected immediately.

2) Opened above the high of April 9, but failed and closed below it.

3) This is a specific pattern in which a PH is made and in next 4 bars the market closes below the lowest close of last 4 bars. This is TD Point Reversal Pattern which is very accurate for reversals.

4) Market closing below last 3 candles is a bearish sign.

Smart_trade