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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 ***]
sandew
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Post: #31   PostPosted: Thu May 14, 2009 11:01 pm    Post subject: Reply with quote

1. color of candle is irrelevent
2. just watch the ST levels - and whether it is breached by 2 candle close up - if yes go long on the third candle.
3. in case it is not,and subsequent candles close down - then wait till 2 candles close below the level - and go short on 3rd candle open.
4. watch swing high - whenever breached by subsequent candle - go long ( and vice versa for short) ( also here levels can be ignored for entry)
5. check which level support exsist - go long on bounce off support level ( reverse for shorrts on resistance)
6. and first be sure to know whether you are in range bound or trending market.

Request to ST - correct my errors please or confirm i have understood you right.
Thanks
Sandew
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SwingTrader
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Location: Hyderabad, India

Post: #32   PostPosted: Thu May 14, 2009 11:26 pm    Post subject: Reply with quote

Tulsian Ji,

What sandew explained below is correct. The only clarification I would offer is about his point #5. For trading a bounce off a level, it is very important that the level be the KEY LEVEL for the day (the level where price first hits support OR resistance at the start of the day). Today it was S2. So a bounce off this level is a valid trade (today it was a long trade).

Regards,

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tulsian1107
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Post: #33   PostPosted: Fri May 15, 2009 7:15 pm    Post subject: Nifty intraday level Reply with quote

Good evening sir,

Thanks for immediate reply.

For further clarification regarding explanation of Mr. Sandew.
Color of candle is important. Close above to be decided by green candle above a level and red for below as per your reply dated 26 April 09 (21:59) to Makhijani.

Regarding short trade no. 7. There are two closes below R4, 1st red, 2nd green and 3rd red, is the entry point as per your reply whereas you have taken entry below R3.

Thank u
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sandew
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Post: #34   PostPosted: Sat May 16, 2009 10:43 pm    Post subject: color of candle Reply with quote

As i see whenever two subseuent candles pierce the level above, invariably one would least be green on closing basis. in a crazy situation, both candles pierce above and are still red on closing basis, i would then be waiting to see whether a swing high is under formation (but this is far and unikely).
yr views please
sandew
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k_jeevan2003
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Post: #35   PostPosted: Sun May 17, 2009 11:54 am    Post subject: Reply with quote

ravin_06 wrote:
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


Good afternoon sir..,

I am the i charts subscribers for past one month..
Its very usefull for me.
Let me know how can i learn a SWING traders and overnight position.,
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hirenkhunt
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Post: #36   PostPosted: Sun May 17, 2009 10:59 pm    Post subject: nifty level Reply with quote

gud mrng..sir..

u r nifty level is very useful me.. i earn many money by ur leven... so ..thanx... and i want to learn how i give level... and technicaly system... knowledge plz help ... me..as a swing trader...and give me a guidance.......
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tulsian1107
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Post: #37   PostPosted: Fri May 22, 2009 1:41 pm    Post subject: nifty trading level....... Reply with quote

Good after noon sir,

sir, at 12.10 pm candle comes back without hitting s1, it is two close above s1.. and same as at 12:55 pm candle below bear....

plz guide.......
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SwingTrader
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Post: #38   PostPosted: Fri May 22, 2009 1:56 pm    Post subject: Re: nifty trading level....... Reply with quote

tulsian1107 wrote:
Good after noon sir,

sir, at 12.10 pm candle comes back without hitting s1, it is two close above s1.. and same as at 12:55 pm candle below bear....

plz guide.......


NO, two closes above S1 would have been valid only if the price had closed below S1 and then made two closes above S1. In this case the price did not even reach S1 so you would have a long entry only after two closes above BEAR. This happened at the open of 12:40 bar only around 4207-4208.

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charav
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Post: #39   PostPosted: Thu Sep 17, 2009 11:49 pm    Post subject: ST's intraday trading levels. Reply with quote

Hello ST. Thanks for the excellent help/service being rendered by you. Your levels seem to provide support/resistance that's stronger than "Great Wall of China".
To incorporate your trading levels in to individual strategies, as suggested by you, one needs to study the levels continuously in real time as well as on the historical data.
1.Is there a way, one can access the historical intra-day charts with relevant ST levels of the day.
2. Regarding the most important level: Suppose the price at the opening goes up and turns back some where in between R2 and R3 and goes down all the way to S1, S2 etc. Which one will be the significant level? What exactly you mean by " imp/significant level".
3. If the price goes up and touches the LOC first and turns back. what is the bias? Same way, if the price goes down on opening and touches the LOC, what shall be our bias?
4. Finally, is it possible for you to explain the use of your levels with line/bar charts in conjunction with trend lines.
Thanks and regards.
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SwingTrader
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Post: #40   PostPosted: Sun Sep 20, 2009 9:15 pm    Post subject: Reply with quote

Charav,

Here are the answers to your queries:

1.Is there a way, one can access the historical intra-day charts with relevant ST levels of the day.

No, currently there is no way to do this.

2. Regarding the most important level: Suppose the price at the opening goes up and turns back some where in between R2 and R3 and goes down all the way to S1, S2 etc. Which one will be the significant level? What exactly you mean by " imp/significant level".


The key level in this case will be R2, major bullish moves can happen only on a break above R2 in such cases, until then it is bearish.

3. If the price goes up and touches the LOC first and turns back. what is the bias? Same way, if the price goes down on opening and touches the LOC, what shall be our bias?

In first case the bias will be bearish until price breaks above LOC. In second case the bias will be bullish if price starts getting supported at LOC.

4. Finally, is it possible for you to explain the use of your levels with line/bar charts in conjunction with trend lines.

For explanation on how to use trendlines with my levels (or any other levels like pivots), please see Jimmie's "Price & Action" thread under "Market Direction" section of the forums.


BTW I suggest you start using "iCharts Levels" that are displayed below the chart on JCharts (Premium) page. I will soon be posting more info about these levles (how to use these, key things to look for etc).

Regards.

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SwingTrader
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Post: #41   PostPosted: Mon Oct 26, 2009 1:47 pm    Post subject: Reply with quote

*** IMPORTANT ***

Since I have stopped posting my manually computed levels, the "How To Use" instructions given here are no longer applicable. Please do not use these instructions with iCharts Levels as the methodology to compute iCharts levels is different.

I will be posting a "How to use" guidelines for iCharts levels shortly here.

Regards.

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Srikanth Kurdukar
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