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Examples (Aug 2010)
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Author Examples (Aug 2010)
SwingTrader
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Post: #256   PostPosted: Thu Aug 26, 2010 2:05 pm    Post subject: Reply with quote

Out of NF position as SL below LOC hit. No more positions for today. Market stats evenly distributed at the moment so no strong bias...it can go either way, so no positions for the rest of the day.
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t.chatterjee
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Post: #257   PostPosted: Thu Aug 26, 2010 5:51 pm    Post subject: Reply with quote

St sir, I am asking a question to u which is quite irrelevant to the current topic, but as u always help green-horns like us, so I have gathered courage to put the question here,
Sir, nowadays a lot of stocks are making all time highs with good volume, they some times carry on their up trend and some times there is a trend reversal, but being all time high, no support/resistance line can be drawn on the chart to guess how far shall they go,
Can u recommend any method to trade them systematically??

I used ichart levels, but that r useful for intraday only, again all such scrips r not included in real time chart also (although its of no use to include every stock in real time chart)
So can u plz give any idea about it?
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Post: #258   PostPosted: Thu Aug 26, 2010 6:40 pm    Post subject: Reply with quote

t.chatterjee wrote:
St sir, I am asking a question to u which is quite irrelevant to the current topic, but as u always help green-horns like us, so I have gathered courage to put the question here,
Sir, nowadays a lot of stocks are making all time highs with good volume, they some times carry on their up trend and some times there is a trend reversal, but being all time high, no support/resistance line can be drawn on the chart to guess how far shall they go,
Can u recommend any method to trade them systematically??

I used ichart levels, but that r useful for intraday only, again all such scrips r not included in real time chart also (although its of no use to include every stock in real time chart)
So can u plz give any idea about it?


Two alternatives - just go with the trend and trail your stops or use fibonacci extensions/expansions to get an idea about future levels and still trail stops.

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Post: #259   PostPosted: Thu Aug 26, 2010 6:51 pm    Post subject: Reply with quote

thank u sir,i was confident that u would reply as soon as u find time,
i knew st sir cant turn a deaf ear when his children (disciples=children in ancient Hindu philosophy) are at a fix Very Happy
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Post: #260   PostPosted: Fri Aug 27, 2010 9:05 am    Post subject: Reply with quote

NF opened between LOC & BEAR. A breakout above LOC & 89 EMA (which is just above loc) will be bullish...I would look to buy there with a SL below today's low. On the other hand, a breakdown below today's low will take NF to BEAR initially and further depending on how the price reacts to bear level. If sold below today's low SL should go above LOC.
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Post: #261   PostPosted: Fri Aug 27, 2010 9:08 am    Post subject: Reply with quote

One important thing to note is that icharts levels are computed using previous day's intraday data. For futures, the next day's expiry which is today, is a bit tricky as the levels have been computed using the previous contract (Aug) where as today we are looking at Sep contract. We have still found the levels to be relevant but please be careful.
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Post: #262   PostPosted: Fri Aug 27, 2010 9:12 am    Post subject: Reply with quote

Well...I checked yesterday's NIFTY-2M chart and re-confirmed today's NF levels and they almost match....so false alarm...please ignore my previous message. Very Happy
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Post: #263   PostPosted: Fri Aug 27, 2010 10:02 am    Post subject: Reply with quote

Sorry....couldn't post market stats earlier....

Market Stats (as of 2010-08-27 10:00:30)

BULLISH : 96
SIDEWAYS WITH BULLISH BIAS : 100
SIDEWAYS : 117
SIDEWAYS WITH BEARISH BIAS : 28
BEARISH : 26

Very bullish indeed.

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Post: #264   PostPosted: Fri Aug 27, 2010 10:49 am    Post subject: Reply with quote

Market Stats (as of 2010-08-27 10:46:56)

BULLISH : 121
SIDEWAYS WITH BULLISH BIAS : 72
SIDEWAYS : 94
SIDEWAYS WITH BEARISH BIAS : 29
BEARISH : 28

Stats continue to indicate bullishness.

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Post: #265   PostPosted: Fri Aug 27, 2010 10:51 am    Post subject: Reply with quote

You can watch the market stats here:

http://www.icharts.in/icharts-levels-scans/icharts-levels-market-stats.html

NOTE: Please don't refresh too often....these stats update every 1 min only.

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Post: #266   PostPosted: Fri Aug 27, 2010 11:03 am    Post subject: Reply with quote

ST SIR, thank u very much, this link will save us from a really strenuous work to find bullish and bearish scrips, i really don't know how to say thank u.
now our work become so simple,

one more thing, im here again to disturb u, sir, i have made a channel of 89 ema high and low on nifty,plz take take a look,
whenever the price goes above 89 high, we can buy and when goes below 89 low, we can sell, though i did only for fun, but sir plz take a look, this may be important,(i know u r busy, but i often disturb u, plz don't mind sir)
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maooliservice
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Post: #267   PostPosted: Fri Aug 27, 2010 11:28 am    Post subject: ichart level strategy Reply with quote

as per ur icharl levels strategy supose 2 succesive candles close is above 1 of the ichart level then were to buy should it be immediate or near to the i chartlevel wich is crossed
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Post: #268   PostPosted: Fri Aug 27, 2010 11:32 am    Post subject: Reply with quote

t.chatterjee wrote:
ST SIR, thank u very much, this link will save us from a really strenuous work to find bullish and bearish scrips, i really don't know how to say thank u.
now our work become so simple,

one more thing, im here again to disturb u, sir, i have made a channel of 89 ema high and low on nifty,plz take take a look,
whenever the price goes above 89 high, we can buy and when goes below 89 low, we can sell, though i did only for fun, but sir plz take a look, this may be important,(i know u r busy, but i often disturb u, plz don't mind sir)


I am not sure...you will have to monitor it for a while and see how it works. The problem with trading directly with moving averages is that they don't work well in non-trending market. So as long as NF is trending, this will work but during sideways you must either stay out or switch over to some other strategy....for that you will need a way to objectively identify sideways movement. Even if you identify sideways trend a little bit late it is fine but you need a method to identify it - try DMI indicator for example.

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Post: #269   PostPosted: Fri Aug 27, 2010 11:43 am    Post subject: Re: ichart level strategy Reply with quote

maooliservice wrote:
as per ur icharl levels strategy supose 2 succesive candles close is above 1 of the ichart level then were to buy should it be immediate or near to the i chartlevel wich is crossed


Two successive closes above a level is just an idea to get you started. I had suggested this earlier because many times you get one close above a level and then it turns back down below the level. But things cannot be that simple...two closes may not work all the time. One will have to look at other things too like how strong is the trend etc.

Generally if the price moves above a certain level and consolidates there (min. 2-3 bars), it is good to buy. But this rule is very subjective, one needs some experience to judge if the price is consolidating at a place or if it is going to turn down.

One more important thing...89 EMA is important. If price closes above both 89 EMA and a level and both 89 EMA & this level are relatively close then one can directly buy at that point.

There are one or two more ways to enter, I will soon post examples with charts.

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Post: #270   PostPosted: Fri Aug 27, 2010 11:50 am    Post subject: Reply with quote

thank u very much for ur prompt reply.I m very much new to this charts.so pls tel me how to set 89EMA and also let me know standard TA settings for good results namely TF,EMA ,MACD ,STC etc
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