Very sorry for my delayed reply. The mindset was not that proper to sit and give you reply. Yet for any clarification over your doubts, if it is possible, you may visit the chat room. I am almost present there every day in the night -along with our great grand masterji karthik-, if you want to have a quick clarification, but preferably not beyond 11 p.m.
Rahul, as per my experience with charts so far and in practice, the better stop will be the bottom of the day before the day of Rally or in case even a minor pivot is seen before the rally, that pivot is a better stop. But here the high volume bar should generally be with genuine buying and should not be with circular trades . This is more important. And regarding the MA, i have no answer as it is highly subjective.
If u dont mind can we discuss strategies for trading using EOD data and use intraday data only for analysis after market hours. I think what u were talking about before using 1.618 method for taking positions did u mean for a longer period or use it for short term trading. I would be more comfortable in using strategies with lower risk(less aggressive) as sometime I cannot monitor regularly due to business commitments that keep coming up. And ofcourse this when u are finished with your day trading strategies. Its nice for me to be aware of them too.
Also if u can send explorer formula for inside day and also for the accumulation pattern u were talking abt......which moves 60% of the previous rally and above its median price. Can these strategies be used for taking short term trading too and if yes would we have to change the tuning a bit for that type of trading or use them as u had explained them for day trading.
I was wondering what kind of trading do u do. Are u a day trader, swing trader, positional trader or use a combination of all depending on the market conditions.
Rgds
Rahul
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