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SwingTrader
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Post: #91   PostPosted: Wed Jul 28, 2010 2:56 pm    Post subject: Reply with quote

Just came back to my desk and wow what a move...

Our standard short trade on break below BEAR-S1 would still be in play and will probably be fine, but the non standard short on a break down below LOC (valid only after a consolidation around LOC) would have been more profitable.

SBIN is going in the opp direction. See attached image. It did not touch BEAR but was close enough. In such cases I usually wait for a breakout above LOC to initiate the trade.

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optimist
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Post: #92   PostPosted: Wed Jul 28, 2010 3:12 pm    Post subject: Reply with quote

Hi ST,

I have attached the RELCAP chart. Around 13:00 pm , relcap closed above BULL and also it is above 89 EMA.

Can you please tell your views on this

1. Should we go or not go for thatt trade with SL as LOC?

2.Also , I see you talking about the imp of 89 EMA mostly . How do you actually use 34 EMA.

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Post: #93   PostPosted: Wed Jul 28, 2010 3:14 pm    Post subject: Reply with quote

HI ST,

How do you actually upload a pic.

This is the URL I have hosted it on

http://img442.imageshack.us/f/relcap2807.png/
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Post: #94   PostPosted: Wed Jul 28, 2010 3:43 pm    Post subject: Reply with quote

Today's example reversals (down) from BULL-R1 levels:

HDIL, GAIL, HINDUNILVR, LT, AXISBANK

Today's example breakout reversals (UP) from BEAR-S1 levels (or close to it):

SBIN, ITC, ABAN, BHARTIARTL

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Post: #95   PostPosted: Wed Jul 28, 2010 3:54 pm    Post subject: Reply with quote

optimist wrote:
HI ST,

How do you actually upload a pic.

This is the URL I have hosted it on

http://img442.imageshack.us/f/relcap2807.png/


Instead of uploading it to imageshack, just "Add as attachment" to your forum post here. When you go to "Post a reply" page (new post), scroll down to "Add an Attachment" section, click "Browse..." button to select your image file (on your PC) and then click "Add Attachment" button. Then click "Submit" to post it to the forum.

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Post: #96   PostPosted: Wed Jul 28, 2010 4:13 pm    Post subject: Reply with quote

Hi ST,

I am not ale to find the 'Add as attachment' section in the reply box...
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Post: #97   PostPosted: Wed Jul 28, 2010 4:27 pm    Post subject: Reply with quote

optimist wrote:
Hi ST,

I am not ale to find the 'Add as attachment' section in the reply box...


Please scroll down a bit...the 'Add an attachment' option is a little below the reply box.

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Post: #98   PostPosted: Wed Jul 28, 2010 4:45 pm    Post subject: Reply with quote

Hi ST,

Please have a look at the link below. I am not getting that option at all.

ttp://img689.imageshack.us/i/noaddattachment.jpg/
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Post: #99   PostPosted: Wed Jul 28, 2010 7:26 pm    Post subject: Reply with quote

optimist wrote:
Hi ST,

Please have a look at the link below. I am not getting that option at all.

ttp://img689.imageshack.us/i/noaddattachment.jpg/


Oh! ok....strange...let me see what I can do about it. Will let you know....

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Post: #100   PostPosted: Wed Jul 28, 2010 7:27 pm    Post subject: Re: SBIN Reply with quote

SwingTrader wrote:
SBIN

Watchout when there is a breakdown from BEAR-S1 or breakout from BULL-R1. Don't jump into the trade, let it consolidate properly after the break and see if it continues to break further. Better be late into the trade. The other option is to scale into the trade, enter only part of the position on a break & consolidation, the rest of the position is entered when you get a further continuation of the break confirming the down move.

*** Always make sure you follow SLs, in this case it would be above BEAR if you had taken the trade.


[b] Hi ST,

When you say allow to consolidate , how long do you wait ? Usually , a breakout will be followed by a big move and this might increase the case of losses as SL wuld be huge if we are actually late.

Can you please elaborate more on this.
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Post: #101   PostPosted: Wed Jul 28, 2010 10:16 pm    Post subject: Re: SBIN Reply with quote

optimist wrote:
Hi ST,

When you say allow to consolidate , how long do you wait ? Usually , a breakout will be followed by a big move and this might increase the case of losses as SL wuld be huge if we are actually late.

Can you please elaborate more on this.


I usually like to see 1-2 bar consolidation or reverse move above/below the breakout/breakdown level. If the price is moving too fast I usually am in the trade on the next bar. It all boils down to experience....I guess this comes to everybody over time. There is no objective rule here, I may wait for 1-2 bars, get it on the 2nd bar after breakout or just jump right in....it all depends on few other factors but are difficult to explain.

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Post: #102   PostPosted: Thu Jul 29, 2010 8:52 am    Post subject: Reply with quote

i can understand wht u mean st sir, though my experience in the market is nothing in comparison to u,bt it happens to me also, at times an inner voice says go and i jump, sometime i just think abt some hypothetical situations like let this be happen then i wll do that and so on, i guess at those moments we usually remain so much engaged wid the market movement that later it becomes hard to explain our actions, i think its all abt experience and risk appetite, sorry for commenting, hope u wudnt mind Very Happy
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Post: #103   PostPosted: Thu Jul 29, 2010 9:28 am    Post subject: Reply with quote

t.chatterjee wrote:
i can understand wht u mean st sir, though my experience in the market is nothing in comparison to u,bt it happens to me also, at times an inner voice says go and i jump, sometime i just think abt some hypothetical situations like let this be happen then i wll do that and so on, i guess at those moments we usually remain so much engaged wid the market movement that later it becomes hard to explain our actions, i think its all abt experience and risk appetite, sorry for commenting, hope u wudnt mind Very Happy


I can relate to what you have mentioned above...it is true.

Your comments are most welcome.

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Post: #104   PostPosted: Thu Jul 29, 2010 9:33 am    Post subject: Reply with quote

NF has opened around LOC and is hovering around it. Strong resistance of BULL-R1 + key EMAs (34 & 89), to rally from here NF has to breakout and stay above these. The "line of least resistance", at the moment, seems to be down....but have to see. Currently we will have to wait and watch what NF does at these key levels and act accordingly.

Good luck!!!

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Post: #105   PostPosted: Thu Jul 29, 2010 10:18 am    Post subject: Reply with quote

Watch BPCL...it has reversed in the morning from BULL level and is currently in the BEAR-S1 band. A break down below S1 from here could result in significant downside OR a reversal above BEAR can take it back to test the BULL-R1 levels.

Look at stocks as NF is totally sideways consolidating around LOC a break away from this consolidation is needed for a good move.

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