General Trading Chat

RIL,HDFC,HDFC Bank,ICICI Bank started participating in the index upmove......downside looks limited now.

Smart_trade
Yeah.. even Tatamotors recovered from the lows today. The HDFC twins pulled up the index yesterday too. Also, SGX is above 10600 :)
 

headstrong007

----- Full-Time ----- Day-Trader
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lemondew

Well-Known Member
Today nifty made a swing low in 3- 3 min bars. Lets see next few bars. whether we break the top. And can we apply the same logic here.

Nifty from the bottom today took 6 bars of 3 min to make a small swing top.....but as the bottom has not broken in next 6 bars, now nifty seems to have made a bottom for the day and likely to go up unless some other bad news hits the market.

Smart_trade
 

lemondew

Well-Known Member
Though the logic is same but todays context is different. A short is against trend. We are at yesterdays close. I dont know but I always tend to apply a logic in the worse scenarios :) .
 
Today nifty made a swing low in 3- 3 min bars. Lets see next few bars. whether we break the top. And can we apply the same logic here.
Today nifty made a swing low in 3- 3 min bars. Lets see next few bars. whether we break the top. And can we apply the same logic here.
Yes,it did not break the top....also 9:36 bar confirmed that the initial move will be on downside......
For understanding what was the indication in 9:36 bar, one may like to read TD Point reversal technique I had posted many times in past...

Traders to understand that the initial trends can change during the day.....so we have to be vigilant in new trends developing in daytrading.These are short term techniques and to be traded with the main methods which we trade .

ST
 

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