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Examples (Aug 2010)
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Author Examples (Aug 2010)
diwakar
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Joined: 10 Feb 2010
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Post: #16   PostPosted: Mon Aug 02, 2010 12:10 pm    Post subject: Axisbank-1m Reply with quote

Dear ST,

Price Consolidating in LOC-BULL band....

Is it advisable to go long if it breaks BULL...

Is yes what would be the stoploss... Will there be strong resistance in R1 level....?

Regards,
Diwakar R
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SwingTrader
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Joined: 11 Aug 2006
Posts: 2902
Location: Hyderabad, India

Post: #17   PostPosted: Mon Aug 02, 2010 12:19 pm    Post subject: Re: Axisbank-1m Reply with quote

diwakar wrote:
Dear ST,

Price Consolidating in LOC-BULL band....

Is it advisable to go long if it breaks BULL...

Is yes what would be the stoploss... Will there be strong resistance in R1 level....?

Regards,
Diwakar R


There is going to be significant resistance between BULL & R1 so a good SL is just above R1, Give some room after R1 as price can break that level and then fall, just keep R1 in mind....above R1 it is bullish so one must be out of the trade if one is short. Long is advisable only on a breakout above R1.

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Post: #18   PostPosted: Mon Aug 02, 2010 1:52 pm    Post subject: Reply with quote

HINDALCO
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Srikanth Kurdukar
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Post: #19   PostPosted: Mon Aug 02, 2010 2:06 pm    Post subject: Reply with quote

M&M

Reversed from BULL-R1 this morning giving two opportunities to short after it broke down below S1. Fell to BEAR-S1, reversed from there and has rallied above BULL level and has also cleared both EMAs (which was probable entry point for long). Current at LOC resistance, a break above it can be bullish.

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diwakar
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Post: #20   PostPosted: Mon Aug 02, 2010 2:08 pm    Post subject: Axisbank-1m Reply with quote

Shocked Axisbank-1m..........
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Post: #21   PostPosted: Mon Aug 02, 2010 2:09 pm    Post subject: Reply with quote

RCOM - Reversal from BULL-R1. Also note the confluence of EMAs in the BULL-R1 band...this happens many times, it may not be exact like this every time but EMAs in/around the bands offer key clues to the probable direction of the move.
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Post: #22   PostPosted: Mon Aug 02, 2010 2:16 pm    Post subject: Re: Axisbank-1m Reply with quote

diwakar wrote:
Shocked Axisbank-1m..........


Smile yeah...crazy moves there....well...happens.

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Post: #23   PostPosted: Mon Aug 02, 2010 2:38 pm    Post subject: Reply with quote

HINDUNILVR

One of the few I traded today apart from NF. I am posting this so you know how a failed trade looks like and ideas on how to better manage it.

Entered the trade on breakdown below bull and a subsequent 2 bar consolidation. It rallied immediately above bull, went down, rallied again above bull and this time broke above both EMAs, got supported by BULL level and then started to rally towards R1. This was the point where I exited. My initial SL was just above R1.

The reason for early exit was a probably change of trend. Price had rallied above both EMAs, fell back to BULL and rallied again above EMAs. This was enough to convey the bullishness. This was the exception...I usually leave the SL in place and let price hit SL if I have any doubts. I exit early only if I see something very clearly like the above.

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Post: #24   PostPosted: Mon Aug 02, 2010 2:43 pm    Post subject: Reply with quote

Why wait for a consolidation after breakout?

Here is the reason: today's DLF chart. Price rallied above R1 but fell back into the BULL-R1 band immediately.

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dilesh
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Post: #25   PostPosted: Mon Aug 02, 2010 3:11 pm    Post subject: Reply with quote

ST sir,
Both ABAN & SUNPHARMA shorts worked good for me.
I avoided shorting EDUCOMP after reading your reply as the 89 ema supported very well & later also broke R1. Very Happy
Thanks for your support.

Regards,
Dilesh Very Happy
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Post: #26   PostPosted: Mon Aug 02, 2010 3:42 pm    Post subject: Reply with quote

dilesh wrote:
ST sir,
Both ABAN & SUNPHARMA shorts worked good for me.
I avoided shorting EDUCOMP after reading your reply as the 89 ema supported very well & later also broke R1. Very Happy
Thanks for your support.

Regards,
Dilesh Very Happy


Cool !!! Very Happy

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Post: #27   PostPosted: Mon Aug 02, 2010 3:50 pm    Post subject: Reply with quote

NF trade was less exciting than the other trades today...which is what is happening a lot these days.

I had said that I would be entering long on a strong upside move...the move hit R2 directly so did not enter there. Entered long after a pullback and the subsequent move up after that (point A) with SL below BULL. Moved SL to just below R1 once price moved above R2. Exited on the strong breakout to upside (point B). Was lucky...I was about to exit the trade, then saw it breakout...got 7-8 pts more.

But those trading only NF & BNF, look at stocks too. Lots of good trades in stocks as always.

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kanna
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Post: #28   PostPosted: Mon Aug 02, 2010 3:56 pm    Post subject: aban strong support by Bear level Reply with quote

the support by the bear level pushes it above R1
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kanna
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Post: #29   PostPosted: Mon Aug 02, 2010 4:00 pm    Post subject: Reply with quote

some more charts
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Post: #30   PostPosted: Tue Aug 03, 2010 9:16 am    Post subject: Reply with quote

NF has opened just above LOC and is currently hovering right at the LOC level. Nothing much to do for now in NF. Current bias is upwards as price is above both EMAs. Will see if it gets supported at these EMAs & BEAR level.

Looking at stocks....I am seeing some good moves there.

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