Intraday Trading Using Gann Calculator

[areebs]

Hello radha !

Is it better to take the WAP at 9.15am or wait for the closing price at 9.30am to take the inital trade ?

And as I have observed that you have been active in both Gann and Elliot threads, so according to you which one is playing out better for Nifty intraday trades.Just your view would help.

 

[areebs]

Nifty Futures Profit for 12th Apr 2010.

WAP for Nifty Future at around 9:15 - 9:20 am was 5355.

After entering this value in Gann Calculator we get the below calls

Sell triggered at 5347 in next 10 min.

Target 5331 got achieved soon. Within 3-4 min Nifty Futures touched a low 5322 and reversed back indicating buying pressure. So we square off at our target price 5331.

Now we enter 5331 in calculator and we get below signals
Recommendation:
Buy at / above: 5347.26 Targets: 5362.87 - 5381.19 - 5399.54 - 5417.93
Stoploss : 5329
Sell at / below: 5329 Targets: 5313.42 - 5295.2 - 5277.02 - 5258.87
Stoploss : 5347.26

Buy triggered at 5347 after few minutes.
Target 1 5362 got achieved soon.

But Nifty Futures could not sustain the price 5362 for more than 5 min and reversed from there indicating selling pressure.
So we square off at 5362.

So we make profit 2 times a day and still we have trading session left.

If calculate profit uptill now, then

Profit 1 = 5347 - 5331 = 16 point.
Profit 2 = 5362 - 5347 = 15 points.

Total profit = 31 points.

Still if we trade more, then more possibilites for profit.

After the 1st target of 5331 was achieved , do we need to wait for sometime and then take the 2nd trade ? If yes how much time ?

Because as you mentioned that if we enter 5331 in the Gann calc we get the Buy call at 5347 and Sell at 5329.
If you see the Nifty intraday chart for that day , then the 1st target of 5331 got achieved somewhere at 9.35 and after that the price was moving in a range of 5334-5322 till 9.50am before moving up.
So in this case the Sell call of 5329 should be taken 1st and not the buy,because the buy price came at about 10.25am.

Can you please explain why was the buy call taken and not the sell call , when the sell price was hit first ?

Also , if the Target 1 is achieved , should we wait for Target 2 or book 50% profit at Target 1 and keep Stoploss at cost and wait for Target 2 ?

 

[radha55]

Hello radha !

Is it better to take the WAP at 9.15am or wait for the closing price at 9.30am to take the inital trade ?

And as I have observed that you have been active in both Gann and Elliot threads, so according to you which one is playing out better for Nifty intraday trades.Just your view would help.

Elliot....

 

[radha55]

After the 1st target of 5331 was achieved , do we need to wait for sometime and then take the 2nd trade ? If yes how much time ?

Because as you mentioned that if we enter 5331 in the Gann calc we get the Buy call at 5347 and Sell at 5329.
If you see the Nifty intraday chart for that day , then the 1st target of 5331 got achieved somewhere at 9.35 and after that the price was moving in a range of 5334-5322 till 9.50am before moving up.
So in this case the Sell call of 5329 should be taken 1st and not the buy,because the buy price came at about 10.25am.

Can you please explain why was the buy call taken and not the sell call , when the sell price was hit first ?

Also , if the Target 1 is achieved , should we wait for Target 2 or book 50% profit at Target 1 and keep Stoploss at cost and wait for Target 2 ?

Hi,

I would like to clear this doubt when to buy and when to sell.

See, Gann Square gives some levels.
Now, based on current price we try to find next move depending on levels.
When we get levels, levels play a major role.
This is very important to understand that a price should stay above a level for more than 5 min to give proper trend.

Now in your case, when we square off at 5331, we square off because price went below till 5331 and then reversed from 5322 within 2-3 min. It means the price is not able to hold levels below 5331 given by Gann Square.
So what does this means?? Buying pressure coming in.
So when price moves above 5347, we get buy signal. But after buying we see if price is able to hold above 5347 then uptrend is intact else, better square off. But in our case, price went above 5347 and reached our target.

So we stick to our buy signal and square off at target 1.

Hope u understood. if not i cannot explain in more detail.
Also, it is quite possible, i may be wrong, but i m just sharing what i think and what i know. So if i didnt answer u or if i went somewhere wrong then sorry.

 

[areebs]

I understood your point radha but wasnt convinced completely , as in such choppy markets just by the movements of 5-7points up/down its not always easy to identify the trend and hence identify which call to take as in your example.
But still I appreciate your views.

 

[arjit]

I am trading Tatamotors using Gann Cal.It is giving very good profit.Today at 9:10 A.M. WAP is 871.It give to short at 870 and went low below 850.It is giving profit everyday.

 

[alroyraj]

I am trading Tatamotors using Gann Cal.It is giving very good profit.Today at 9:10 A.M. WAP is 871.It give to short at 870 and went low below 850.It is giving profit everyday.

@arjit. What step size per day and no of levels u take?

 

[arjit]

Could not understand your question?

 

[arjit]

Trade for 4 May.At 9:10 wap is at 860.Long at 863 and short at 855.Long triggered at 863 went high above 869.But could not sustained.Again putting value 865.Short triggered at 862 went low below 840.

 

[radha55]

Trade for 4 May.At 9:10 wap is at 860.Long at 863 and short at 855.Long triggered at 863 went high above 869.But could not sustained.Again putting value 865.Short triggered at 862 went low below 840.

Good going.....