Thoughts on Day/Swing Trading

[balasoft80]

Yes Bala, let me list them down.

1) First bar could not take out yesterday's last bar high....and closed as a doji.

2) Third bar is a green bar. This bar has made highest close in all the three bars without making a new high. This pattern is important. It means that bulls made a last attempt to take the market up and when this bar gets negated, it is a sure sign that market has topp ed out in short term atleast.

3) 4th bar making a bearish piercing pattern with 3rd bar....bearish signal.

4) If you mark TDST lines on your chart you will see that the upmove failed at the blue TDST bar. In fact today in NF and BNF 30 min and 5 min TDST levels indicated the tops in the market.

5) Breakout failure.( In 5 min chart)

Thanks a million ST. This is where we all lagging as a learner... Your help would really help for lot of beginners. Please share your comments for 2 to 3 days if your time permits... not an urgent.... Once again thanks much

 

[Smart_trade]

Mr.Smart Trade are u talking about ema or sma

I have 21 SMA on my charts to give a bit of extra legroom to the correction.


ST

 

[maheshaa]

I have 21 SMA on my charts to give a bit of extra legroom to the correction.


ST

mine is 375

 

[trade4joisar]

Posting a 15 min Nifty Fut chart indicating the reversal that took place daybefore yesterday (2-1-2012). The reasons marked on the chart. Many timeframes such as 5/15/30/60 have all / most of the reasons in those timeframes.

Smart_trade

Does it mean, 15 min Nifty chart can be used for analysis of 2-3 days?

SG has posted the chart. I will try to add my 2 cents and show how many things were indicating change of short term trend. I will post in the evening just to illustrate this example.

Smart_trade

Can you comments on this as well, i mean SG's view?

http://www.traderji.com/day-trading/49521-thoughts-day-swing-trading-72.html#post627981

 

[Smart_trade]

Does it mean, 15 min Nifty chart can be used for analysis of 2-3 days?



Can you comments on this as well, i mean SG's view?

http://www.traderji.com/day-trading/49521-thoughts-day-swing-trading-72.html#post627981

Yes.15 min charts are useful as higher timeframe chart when one is daytrading with 5 min chart. It also can give good reversals though I prefer using 30/60 min charts for reversal of trends for 2-3 days.

Well on SG's chart I can see the following :

1) Positive Divergence .

2) Breakdown failure

3) Hammer

4) An island reversal formation which is very reliable sign of reversal atleast in short term.

5) Gap filled .

6) Higher bottom made.

But considering SG's experience in the market, i am sure he is seeing something which all of us are unable to see. Looking forward to learn that when he posts.

Smart_trade

 

[trade4joisar]

Yes.15 min charts are useful as higher timeframe chart when one is daytrading with 5 min chart. It also can give good reversals though I prefer using 30/60 min charts for reversal of trends for 2-3 days.

Well on SG's chart I can see the following :

1) Positive Divergence .

2) Breakdown failure

3) Hammer

4) An island reversal formation which is very reliable sign of reversal atleast in short term.

But considering SG's experience in the market, i am sure he is seeing something which all of us are unable to see. Looking forward to learn that when he posts.

Smart_trade

Thanks a lot. :clap:

Can i ask you to mark this on chart? It might be too much but all knows pictures explain better than words. And i understand better in pictures

If you want i can put more precise chart give more examples like this?

 

[maheshaa]

Posting a 15 min Nifty Fut chart indicating the reversal that took place daybefore yesterday (2-1-2012). The reasons marked on the chart. Many timeframes such as 5/15/30/60 have all / most of the reasons in those timeframes.

Smart_trade

boy o boy, the chart looks lke some blue chip designs

mean while what are those right angled line indicators are called

 

[Smart_trade]

boy o boy, the chart looks lke some blue chip designs

mean while what are those right angled line indicators are called

Thanks for the kind words, maheshaa.....you are the real trader who appreciated my charts.

Regarding right angled line indicators, they have been discussed in this thread as well as elsewhere in this forum. If you go through the thread you will find that out easily in the meanwhile .

Smart_trade

 

[403.forbidden]

boy o boy, the chart looks lke some blue chip designs

mean while what are those right angled line indicators are called

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For me, looked like Greek and Latin at the beginning. I spent one year, to understand about trading,.. by reading etc.,

Mr.Smart_trade's charts and his explanations - No words to express the gratitude.

Good Luck :thumb:
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[403.forbidden]

21 MA is called "The Holy Grail". You will see a natural tendency of any market in any timeframe to get close to 21 MA in a correction in a trend. One can trade very well with just price and 21 MA .You dont need anything else in daytading.....

ST

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Dear Mr.Smart_trade,

Could you please post a chart (5 mins Bank Nifty chart) to show this 21 SMA - The Holy Grail ?

..if possible two charts - with + without / gap

Thank you very much.
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