Thoughts on Day/Swing Trading Part 2

[rangarajan]

What a consolidation & B/Out.
Axis today cash 949-929

Again a chance to buy as per Smart,easy Rs5

 

[trade4joisar]

ST, Danpick & seniors

Happy Teacher's day

 

[balasoft80]

Hello ST,

Please consider the below nifty chart today. Actually i was reading some of your old posts and trying to interpret with today chart.

After the break of rectangle enter into long and Then it formed aggressive pivot. Here move SL to just below of aggressive pivot

Then long green bar followed by small red bar and green (#1). So I would have moved my SL to just below of green bar which would have caught in the next bar(Hammer). So no position now

Again I would have entered long in the break of #1 as it seems there is gap between previous pivot high and current pivot low(Strong up trend)

Again now the first scenario repeats #2 and #3 as well. So whole day may ended with zero profit. If we would kept SL at pivot low then we would have been there till the end of trend. I totally confused

Thanks
Bala

 

[Smart_trade]

Hello ST,

Please consider the below nifty chart today. Actually i was reading some of your old posts and trying to interpret with today chart.

After the break of rectangle enter into long and Then it formed aggressive pivot. Here move SL to just below of aggressive pivot

Then long green bar followed by small red bar and green (#1). So I would have moved my SL to just below of green bar which would have caught in the next bar(Hammer). So no position now

Again I would have entered long in the break of #1 as it seems there is gap between previous pivot high and current pivot low(Strong up trend)

Again now the first scenario repeats #2 and #3 as well. So whole day may ended with zero profit. If we would kept SL at pivot low then we would have been there till the end of trend. I totally confused

Thanks
Bala

You are making a basic mistake , Bala......at 1,2 and 3 we have strong green bars and then green/red bars in the body of these strong bars. Dont sell on such small bars......move the stops to the low of the strong bars and add to your positions every time the last down bar's high is taken out. Also selling after 1 is not correct as the market has come out from the long consolidation ans we have a strong breakout bar. Market will always correct after a big bar ...but don't sell on small bars in the stomach of the big bar.

The top after point 3 gave a first indication of the momentum slowing down and the top after that market topped out....here look to sell....

Smart_trade

 

[VIKAS 21]

Dear ST Sir/ senior members

daily chart of sbin showing consolidation near trend line, bullish piercing pattern on date 06-09-2012, previous PH =1937.80, SAR=1890

weekly chart of sbin showing upside breakout....

Do you think its a correct buy trade above 1937.80 or we need some more confirmations....
I have taken help of pivots, candlestic patterns & multiple time frames

 

[balasoft80]

You are making a basic mistake , Bala......at 1,2 and 3 we have strong green bars and then green/red bars in the body of these strong bars. Dont sell on such small bars......move the stops to the low of the strong bars and add to your positions every time the last down bar's high is taken out. Also selling after 1 is not correct as the market has come out from the long consolidation ans we have a strong breakout bar. Market will always correct after a big bar ...but don't sell on small bars in the stomach of the big bar.

The top after point 3 gave a first indication of the momentum slowing down and the top after that market topped out....here look to sell....

Thank you so much. Do you mean we have to add our position last red bar's high rather than pivot high? Yesterday I was reading some of your old posts regarding climax bars. Thats why I moved SL over there. thanks

 

[friendforevers0007]

bala can u post link of climax bars tx

 

[balasoft80]

I am not sure how much it is related to this. But here is the link

http://www.traderji.com/day-trading/49521-thoughts-day-swing-trading-9.html

Hi ST,
Was there any chance to trade in the today market? thank you

 

[Smart_trade]

I am not sure how much it is related to this. But here is the link

http://www.traderji.com/day-trading/49521-thoughts-day-swing-trading-9.html

Hi ST,
Was there any chance to trade in the today market? thank you

Effective trading range in NF today was 25 points.......cannot trade such flat markets....did take one long trade...but got out as it did not work

Smart_trade

 

[friendforevers0007]

st and others

i trade using orb such trades effective in gap ups!! any comments