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How to use the trading levels [*** NOW OBSOLETE ***]
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Author How to use the trading levels [*** NOW OBSOLETE ***]
SwingTrader
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Post: #16   PostPosted: Sun Apr 26, 2009 10:40 pm    Post subject: Reply with quote

SwingTrader wrote:
Makhijani wrote:
Thanks, SwingTrader! But I am still not convinced about the last short trade of 13.04.09. There was one close below R4, followed by a close above R4. Next, there was a close below R3 and then the price fell all the way from that point to below R1. So, waiting for the second close would have meant no trade.

Best wishes,

Makhijani


First let me explain again....TWO CLOSES below a level does not mean both closes have to be above the next level. A close below R4 and then later a close below R3 is much more than enough. It is actually a much more bigger signal. I repeat: both the closes don't have to be between R4 & R3, as long as they are below R4, we are fine. Once the 2nd close is below the next level it actually means the breakdown is far more powerful. Also, note that these two closes don't have to be consecutive, so one close below R4 and the next one above R4 and the third below R3 is fine as we now have two closes below R4. I hope this is clear.

Now, let us assume that we could not have taken that last short trade on 13.04.2009, which is fine too. We will not be able to take all trades anyway. All those trades I marked are only probably trades and as I mentioned in that post itself, one may or may not have taken few of those trades.

If one has any doubt at all about any trade, it is better to stand aside and not take the trade. There will be many opportunities coming your way, be as picky as possible about the trades.

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ravin_06
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Post: #17   PostPosted: Thu Apr 30, 2009 8:43 pm    Post subject: Reply with quote

Dear Sir,
WE are Awaiting your post As you mentioned.

***There are other advanced strategies using oscillators to identify price extremes for the day to take a counter-trend trade to capture price reversals. But these are advanced anticipatory trades against the trend. I put in lot of effort to not go against the trend. I like to be safe and not brave so I take trades in the direction of short-term trend (the regular trades attempt to capture this trend).***

Thanks .
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tulsian1107
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Post: #18   PostPosted: Sat May 02, 2009 11:53 am    Post subject: ST- Most important level of the day Reply with quote

Dear sir,

Please post few day charts after closing of market, marking different tading rules like- Buy, Sell, Entry & Exit points. Tow close above the level for entry and most important level of the day.

Thanx
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rajeev_ranjan1974
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Post: #19   PostPosted: Sat May 02, 2009 12:27 pm    Post subject: what is LOC Reply with quote

Dear Sir,
can u plz explain this system of urs for niftyfut.
I am new to ths system of loc. what is this LOC. i dont think it is related to pivot calculation. because the pivot level and loc r not matching.
please sir can u explain this system in details for newcomers like me.
thanks in advance.
Raj Smile
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SwingTrader
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Post: #20   PostPosted: Sat May 02, 2009 11:17 pm    Post subject: Re: what is LOC Reply with quote

rajeev_ranjan1974 wrote:
Dear Sir,
can u plz explain this system of urs for niftyfut.
I am new to ths system of loc. what is this LOC. i dont think it is related to pivot calculation. because the pivot level and loc r not matching.
please sir can u explain this system in details for newcomers like me.
thanks in advance.
Raj Smile


Dear Sir,

LOC is different from Pivot Point. The formula for computing my levels is very different from pivot points. Details of how to use the system are given in this forum topic, you can go through it in detail. If you have any questions on the usage of these levels, you can post those questions here and I will reply in detail.

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SwingTrader
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Post: #21   PostPosted: Sat May 02, 2009 11:24 pm    Post subject: Re: ST- Most important level of the day Reply with quote

tulsian1107 wrote:
Dear sir,

Please post few day charts after closing of market, marking different tading rules like- Buy, Sell, Entry & Exit points. Tow close above the level for entry and most important level of the day.

Thanx


Tulsian Ji,

Sure, I will try and post charts with buy/sell etc marked after market close as and when I get time.

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krishna.tulsyan
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Post: #22   PostPosted: Tue May 05, 2009 5:28 pm    Post subject: Nifty Intraday level Reply with quote

Dear sir,

Please let me know if , I was right or wrong for the following decision on today chart.

1. Is important line of the day is bear?

2. At 10.20 AM candle closes above bear showing ling entry.

3. Should be exit when candle hit the bull line or should wait.

4. The candle above bear line at 12.20 PM be treated as 2nd entry. and again at 12:50 ebtry point and at 1.20 pm can we take entry.

5. Below bull line 14.25 and after 2 candle showing downentry. and above loc single close at 14.55 pm can we taken entry & same wise below bull at 15.10 is short entry or exit how to decide.

6. Above the bull at 14.25 first of 3rd candle down and agin 4th above close it seems to be long enrty but happen opposite..

7. Trade existed b/w bear & bull line should be we trade with help of STS.

It is humble request plz share your vaulable time to mark different place on todays chart.


Thanx
Tulsian
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SwingTrader
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Post: #23   PostPosted: Tue May 05, 2009 11:11 pm    Post subject: Re: Nifty Intraday level Reply with quote

krishna.tulsyan wrote:
Dear sir,

Please let me know if , I was right or wrong for the following decision on today chart.

........
........
........

Thanx
Tulsian


Here are the answers to your queries:

1. Is important line of the day is bear?

The 10:10 AM candle hit LOC, this was the first level where the price encountered support or resistance (in this case resistance). So LOC was the key level. BEAR level got hit much later.

2. At 10.20 AM candle closes above bear showing ling entry.

The regular trade signals get triggered when price moves to the next level and there are minimum TWO closes above the next level. Before 10:20 price was between LOC & BEAR and at 10:20 the price bounced off the BEAR level but was still between LOC & BEAR. There is no question of any "regular" trade here.

Bounce off a level is a valid trade but it is an anticipatory trade that requires some experience/judgement. In this case it would have paid off but do understand that if you take such BOUNCE OFF A LEVEL TRADE then you need to have close stops (in this case you could place a stop just below the BEAR level). I have not discussed such trades in detail (I do take such trades some times) because I did not want create confusion. I repeat, such trades are anticipatory only and are subjective in nature. Please use your judgement while taking such trades.

3. Should be exit when candle hit the bull line or should wait.

When a level is hit, it is suggested that, stops be moved to just below the previous level. Once there is a CLOSE above the level then move the stop to midway between the previous two levels.

4. The candle above bear line at 12.20 PM be treated as 2nd entry. and again at 12:50 ebtry point and at 1.20 pm can we take entry.


Actually, 12:25 is a valid long entry point because 12:10 bar closed below BEAR level. Then after that price moved above bear level and there were TWO CLOSES ABOVE BEAR LEVEL (12:15 & 12:20 bars). So 12:25 was a long entry - a regular long trade).

5. Below bull line 14.25 and after 2 candle showing downentry. and above loc single close at 14.55 pm can we taken entry & same wise below bull at 15.10 is short entry or exit how to decide.


No, it was not a short signal. An anticipatory trade was there at 14:35 which signalled a probable downturn after price encountered stiff resistance at BULL level. The doji candle also was a strong clue. But this was anticipatory trade that has to be based on one's judgement. Stop in this case again has to be close so as to minimise possible false/wrong trade.

Note: Regular short trade will probably be skipped by the trader as much of the move had already taken place by the time there were two closes below bull level.

6. Above the bull at 14.25 first of 3rd candle down and agin 4th above close it seems to be long enrty but happen opposite..


Two closes above bull level where at 14:30 which was a valid long entry that failed which could have resulted in a 15 pts loss approx. This happens, one can't help it.

7. Trade existed b/w bear & bull line should be we trade with help of STS.

Yes, of course, you are free to experiment with other tools/ideas. My levels are supporting tools that provide additional ideas for your trading method.

STS can be used when you feel there is a relative sideways trend going on. If you can judge this properly then it is rewarding. STS will work very well in a sideways move (mainly on sideways days like today). Judging sideways vs trend days comes with experience.

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Post: #24   PostPosted: Tue May 05, 2009 11:45 pm    Post subject: Possible trades for 05.05.2009 Reply with quote

As per Mr. Tulsiyan's request I am posting today's NF chart (5 Min) with possible trades.

Clarifications follow below (these are for the trade numbers that are there on the chart):

1. This is a trade based on the "Alternative Strategy" I have posted recently. 10:10 AM bar is a swing high. 10:50 bar closed above this swing high triggering a long trade as per the alternative strategy (entry would be at open of 10:55 bar). One may or may not have bought because a big move had already taken place after price bounced at BEAR level. But I have indicated this trade as it was a valid long trade.

2. 11:15 bar was a swing low. 11:30 bar broke down below this swing low triggering a short trade (entry would at at open of 11:35 bar).

3. 11:35 bar was a swing low. 11:50 bar closed below this swing low tiggering a short trade (a continuing trade as one would be already short if the #2 trade above was taken)

4. 13:10 bar was swing high. 13:30 bar broke above and closed above this swing high triggering a long trade (the bar also broke above LOC and closed above it - additional confirmation of bullish move). NOTE: If regular long trade (#6 below) was taken then one would already be in a long trade when this trade was triggered.

5. 13:55 was a swing high. The 14:20 bar closed above this swing high but it closed very near the bull level. One may or may not have taken this trade as one might have already been in the long trade if trade #4 was taken.

6. This is a regular trade long trade. 12:10 bar had closed below bear level. After that there were two closes above the bear level triggering a regular long trade.

7. Again a continuing long trade (two closes above a level after price was below this level previously).

There are other regular trades here that I have not pointed out as one would already be in a trade during such time so would ignore those. One trade too late (just before the mkt close) was also ignored.

NOTE: THERE ARE FEW KEY ANTICIPATORY TRADES HERE THAT REQUIRE SOME JUDGEMENT SO I HAVE LEFT THOSE OUT. WILL PROBABLY DISCUSS THOSE LATER. THESE TRADES ARE AGAINST THE TREND AND DONE IN ANTICIPATION OF A TREND REVERSAL OFF A LEVEL WITH STOPS PLACED VERY CLOSE.

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krishna.tulsyan
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Post: #25   PostPosted: Wed May 06, 2009 11:54 am    Post subject: Thankyou very much Reply with quote

Dear sir,

Thankyou very much. There are no words for appreciation for providing in such a nice way to trade with the help of yours both strategies. Thanks again for the hard work & for spare your valuable time. Really this reply has removed confusion and develops my knowledge for catching the trend.

Your seminar helps us to go in deeply for technical analysis. We are definitely in ur guidance we will do successful trading in future thanks a lot.

Tulsian
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ravin_06
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Post: #26   PostPosted: Wed May 06, 2009 9:01 pm    Post subject: Reply with quote

Swing trader,

Can you buil-up your NIFTY-FUTURE lvl as * SWING TRADES indicator * with other indicator or direct tool so we icharts subscriber can follow at a trading hours ?

You have good knowlage about technicals.

Awaiting your reply.

Thanks.
Very Happy Very Happy
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vsp1964
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Post: #27   PostPosted: Wed May 06, 2009 9:55 pm    Post subject: nifty level Reply with quote

Dear Sir,

I am interested to know how nifty levels are calculated before the trade starts. If pivot method or some other tools. Pls explain.

Regards,

Sundar
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tulsian1107
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Post: #28   PostPosted: Thu May 14, 2009 12:43 pm    Post subject: How to trade-- in case of gap down Reply with quote

Good after noon SIR

1. In case of gap down opening is s2 will be important level for the day, or any other.

2. At 12.30 there is two close below bear it is sell signal or not?

3At 12.40 candle is red can we short here.

4. There is two close above bear before 11.15 pm but buy signal faills.
Plz let me know sir is important level is sl for long and short.

Thanx
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SwingTrader
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Post: #29   PostPosted: Thu May 14, 2009 12:55 pm    Post subject: Re: How to trade-- in case of gap down Reply with quote

tulsian1107 wrote:
Good after noon SIR

1. In case of gap down opening is s2 will be important level for the day, or any other.

2. At 12.30 there is two close below bear it is sell signal or not?

3At 12.40 candle is red can we short here.

4. There is two close above bear before 11.15 pm but buy signal faills.
Plz let me know sir is important level is sl for long and short.

Thanx


1. Yes, S2 is the KEY LEVEL for the day. It will generally hold if price falls back there again. If it breaks then the decline would be really bad.

2. YES, it is a valid short signal. You could have shorted at the open of 12:35 bar around 3600.

3. You should have shorted at 12:35 which was short entry bar (after two closes below bear level).

4. Two closes above bear level was the 2nd long signal for the day, you should actually have been capturing profits at that time instead of entering. You should have been long on two closes above the S1 level earlier in the day (long entry was at 10:15 bar open around 3592).

I hope this makes things clearer.

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Post: #30   PostPosted: Thu May 14, 2009 6:37 pm    Post subject: Nifty intraday level Reply with quote

Good After Noon sir

Buy/Sell comes after above or below 2 close but due to candle formation , it is creating some confusion. plz guide us,

1. in case when 2 close above a level , candle should be green, green or red or both. when there is no candle in a series b/w 2 levels , green , red , than how should we decided to go long or not?

2. Today at 13.20 pm 2 close above s1 green candle 3 rd red, 4 th green , 5 red , 6th green in this case what to do/

plz clarify in detail how to judge 2 close above a level in different situation?

thanx
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