How to trade with an oscillator

[balasoft80]

Hi 4xpipcounter,
Thanks much. Your post me lot of confident irrestpective of loss. I have created word document and noting down whatever i am learning on the day basis. I hope i can successful trader and I can recover my one day.

Since I am very new to TA, Could you please explain bit about the following quote?
"
The highlighted oval portion you shared was no more than a higher high. It does not mean it was a signal for an entry.
Here's a little hidden secret while taking the initial move at face value. That move was 38.2% of the entire downmove, so the Fibo enthusiasts were made real happy over the move.
Ichi enthusiasts were real happy because we got the strong move we predicted just under the 4-hour cloud, and then the reversal.
"
Also please let me know all the good threads. so that i can go through more. I am very much interested in learning

Thanks a lot and your hel would be appriciated
Bala

 

[4xpipcounter]

The following threads are my personal favorites. They are all full of ideas on how to trade and methodologies of all sorts:
Strategies, Systems and Indicators
Ichimoku Kinko Hyo trading system
Some of my forecasts (Lol, had to plug my own.)
[IMG=http://img195.imageshack.us/img195/5237/16635807.gif][/IMG]

Uploaded with ImageShack.us

Uploaded with ImageShack.us


This thread, of course
Nifty Intraday Pivot Points
Teach a Man to Fish
Bollinger Bands
Learning and Implementing Ichimoku in Forex.
My Charts and yours too.

You put the oval around the breaking of the previous candle's high. A lot of people would interpret that as a signal to go higher.

The reference to the Fibo 38.2% recovery is seen on the top chart. You use the Fibonacci drawing tool to draw the levels from the peak to the dip. That line was drawn from that peak at 6201 to the dip at 5171.

The reference to the ichi is seen on the original failed penetration of the 4-hour cloud, we had a correction, and then another move that finally made it in the cloud and on the other side.

Hi 4xpipcounter,
Thanks much. Your post me lot of confident irrestpective of loss. I have created word document and noting down whatever i am learning on the day basis. I hope i can successful trader and I can recover my one day.

Since I am very new to TA, Could you please explain bit about the following quote?
"
The highlighted oval portion you shared was no more than a higher high. It does not mean it was a signal for an entry.
Here's a little hidden secret while taking the initial move at face value. That move was 38.2% of the entire downmove, so the Fibo enthusiasts were made real happy over the move.
Ichi enthusiasts were real happy because we got the strong move we predicted just under the 4-hour cloud, and then the reversal.
"
Also please let me know all the good threads. so that i can go through more. I am very much interested in learning

Thanks a lot and your hel would be appriciated
Bala

 

[4xpipcounter]

Uploaded with ImageShack.us

I don't know how it happen, but this chart should have been the one "on top".

 

[balasoft80]

thanks a lot.I will go through one by one and I have more questions for you

 

[4xpipcounter]

Balasoft, here's another point that should be of interest to you. AS you make your journey up the learning curve, keep in mind that when you find good traders to follow (Whether they be here or other place like, Daily Fx, Action Forex, Max McKegg, Capital Management, JahDave, etc.), they will yield essentially the same results. I have a good trader friend who trades using the Elliot Wave. We still marvel at how we attain the same target or reversal levels, yet, our methodologies have nothing in common.
In essence, treat this site and any others you visit as an information gathering ground. That was exactly what I did when I started. I started collaborating bits and pieces, and then my methodology came together. All good traders might have a bit of a different story, but all of them will tell you it did not happen overnight.

 

[balasoft80]

Again thanks much for your all help. I have one more question here. If Nifty stayed more than 5 bars in OB zone then oscilator came closely to OS area then again it stayed less than 5 bars in the OB zone. Shall i go for short here or still I go in long? Thanks a lot

Bala

 

[balasoft80]

Hi,
Again thanks much for your all help. I have following questions and could you please clarify.

1.If Nifty stayed more than 5 bars in OB zone then oscilator came closely to OS area then again it went to OB zone and stayed less than 5 bars. What shall i do here short or long?

2.Today I happened to see nifty stayed more than 5 bars in OB zone then came to OS zone and stayed more than 5. How to handle this scenario?

3. Could you please share the nifty 5 minute short today and yesterday and show all buys and sells if only your time permits. Sorry for asking this big help. But i have been watching from yesterday only as per your guidance. Just wanted to clarify

Thanks much for your help. Please help on point only if your time permits.

Thanks
Bala

 

[4xpipcounter]

Uploaded with ImageShack.us

Uploaded with ImageShack.us


Balasoft, I'll answer both of your posts at the same time. Your example of Nifty is why I have said so many times that you cannot use one indicator by itself. You need to have a confluence, and you also need to confer with other TF's to see what they are doing.
The example you gave of Nifty was a situation at Nifty Day Pivot Points, we were predicting 5687 (hit Friday), and then 5756 (hit Tuesday). The run up on the daily was more powerful than I gave it credit for, but those levels were hit, nevertheless.
There is also strong momentum on the weekly, and the move still looks like a glitch on the screen. (Yet, the stochastics on the 4-hour is suggesting we are going south.)

The accompanied charts are of the GBP/AUD. Notice the point where the GBP/AUD became OS on the 4-hour. It dropped another 500 pips from that point. It will also be a long time before this pair even gets back where it became of OS. The daily shows a different story. The old saying is, "Never get in the way of a freight train. The market is now under the daily cloud, which is going to act as strong R.

The stochastics is a part of my trading arsenal. It does have its useful moments, but it will kill you if you try to sue it as a standalone, or only use one TF to determine an entry.

Hi,
Again thanks much for your all help. I have following questions and could you please clarify.

1.If Nifty stayed more than 5 bars in OB zone then oscilator came closely to OS area then again it went to OB zone and stayed less than 5 bars. What shall i do here short or long?

2.Today I happened to see nifty stayed more than 5 bars in OB zone then came to OS zone and stayed more than 5. How to handle this scenario?

3. Could you please share the nifty 5 minute short today and yesterday and show all buys and sells if only your time permits. Sorry for asking this big help. But i have been watching from yesterday only as per your guidance. Just wanted to clarify

Thanks much for your help. Please help on point only if your time permits.

Thanks
Bala

 

[Smart_trade]

Posting yesterday's and today's trades on Nifty Futures 5 min chart.....trades,adds,profit taking,reversals all marked......

Smart_trade

 

[balasoft80]

one second thanks again for your quick reply. I am finding bit difficultly to understanding. To be frank I am trying to explore TA only last 2 weeks after losing more than 5 lakhs in this mkt without any TA and by believing only tips pprovider.

Just I started oscilator after gone through basics of TA. Could you please point all the prerequiste posts? So that I will go through all of them then i will start paper trading.

Thanks
Bala