Two candle strategy

#52
What should be the rule here

AXISBANK CASH - using Google Data

Buy Executed at 1029 for a Target of 1036



Later a Sell setup was formed with out a Stoploss trigger.
Soon that changed back to buy Setup.

Had the trader held on to the first Buy order he/she would have bagged a decent profit. : 7 points

Had he closed the positions on the following Sell and Buy Setup formations that would have been a sorry loss. : -11 points

What would be the suggested plan here?
 

karthik_sri

Well-Known Member
#54
What should be the rule here

AXISBANK CASH - using Google Data

Buy Executed at 1029 for a Target of 1036



Later a Sell setup was formed with out a Stoploss trigger.
Soon that changed back to buy Setup.

Had the trader held on to the first Buy order he/she would have bagged a decent profit. : 7 points

Had he closed the positions on the following Sell and Buy Setup formations that would have been a sorry loss. : -11 points

What would be the suggested plan here?
Please close the trader as per the profit target and don't exit the trade with the next signal formation. I will post the chart of mine as I find difference in chart.
 

malunana

Active Member
#59
Dear Karthik,
Little confused......the 1st candle low is 1450 and high is 1459.....but u have mentioned 1459 as 50% value...also, u have written 100% = 1469 :(

Can u pl explain with exact values (H/L) of both the candles...thanks !
It appears that the phrase 50% is causing confusion to few. 50% level of first candle to decide whether the candles qualify for trade under this strategy is different from 50% for targets and exits.
 

malunana

Active Member
#60
Based on EOD data of 1st Oct, whether Dish TV qulaifies for trade on 03-10-2013? Karthik, pls reply so that whether I have understood the strategy correctly would be known
 

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