Trading With CrossOver And BB

[vicky_ag]

Doc/Prasad

Market looks like severly range bound, doesn it?

 

[docvijay4u]

Yes As Of Now Moving UpSide But Very Slowly......

Thanks.

Doc/Prasad

Market looks like severly range bound, doesn it?

 

[prasadam]

cross over happened.

but, price is above smas. so, not yet reversing.

 

[ash.paul]

Ash, did you read what I said? Probably, not. Read my lips when I say, things which work on Forex are very dagerous to use on NF, they might not work at all. So, please put up a chart on NF not on EUR/GBP on the 20 degree angle thing.

And as to use of so many MA's (SMA or EMA) is too many to confuse. I mean 60, 180 , 360 SMA compared to 5 SMA, really?

My warning comes from experience. I have been doing forex with use of just an EMA to take my decisions and returns are full in the London session. But, the same doesnt work on NF.

Truthfully, even a meaningful thing like candlestick pattern doesnt hold any significance in Indian scenario. You will find shooting stars, hanging man etc used like a pitstop for continuation of trends.

Look at a recent example of HDFC on a daily chart to get my point.

Hey dude! Ofcourse you are right in saying Things which work in Forex doesnot have to work in NF or other market, every market is different I wasn't knocking you down. OIC because I quoted ur post incorrectly, Pardon me!

The point I was trying to make was different, was about using certain angle deviation for the confirmation of a crossover. Eur/Gbp chart was to show how a fast moving averages are moving sholder to sholder even in Forex. I didnot attach NF charts because you guys have one, but very few people trade forex IMO.

Personally I dont trade NF that often, I am more on the forex side. But have to say that candlestick patterns do work in Indian markets or any other market but we need to hunt for those patterns in a speific areas ideally on support and resistances, sometimes it works sometimes it doesnot.
I understand where ur comming from, Forex can be played suceessfully just with PinBar/Candles or other Price Action patterns but when it comes to Nifty stocks/futures it doesnot seems to be alright mainly because of the frequent gapup/down openings, Volatility Issues because of dry Liquidity in the market and moreover Forex is 24 x 5 market and stoploss can be carried forward for the next day which is not at all the case in our markets. So, yes these factors play a major role in overall market dynamicity.
Can you plz post the daily chart for HDFC so that we can get some more idea about the failed pattern which u are refering to??
Cheers!

 

[prasadam]

Had to follow the strategy.

add @ 3568.

profit(loss) is left in the hands of the market.

waiting for an indication to book partial profit.:thumb:

 

[docvijay4u]

I Think This Is Good Point Book Partial Profit Since Few Minute CandleStick Constantly Blinking Like Doji.... Let's See....

No Doji Strong Closing........:thumb:

waiting for an indication to book partial profit.:thumb:

 

[prasadam]

Doc.

Trading is so easy. is in't it?

Thanks to saint sir & savant ji.

 

[prasadam]

After 4 bullish bars, first bearish bar.( same situation like yesterday)

booked at 3637. 1 lot.


edit:

or should have waited for close in the red?

 

[docvijay4u]

Booking Partial Profit For About 70 Point Is Good Deal!!!!:thumb:

Thanks.

After 4 bullish bars, first bearish bar.( same situation like yesterday)

booked at 3637. 1 lot.


edit:

or should have waited for close in the red?

 

[prasadam]

Doc.

just searching for a correct profit booking place.

had to finalize some rule. so that, the mind will be clear of this confusion.