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| Discuss Triple Top and Bottom Intraday Strategy at the Technical Analysis within the Traderji.com - Discussion forum for Stocks Commodities & Forex; hi guys and gals. iv been backtesting this method for a no of days. its ... |
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#1
3rd September 2006, 04:58 PM
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Triple Top and Bottom Intraday Strategy
hi guys and gals.
iv been backtesting this method for a no of days. its been inspired from Ronald's post http://www.traderji.com/equities/665...-goldmine.html The lines are "Never go long on a share that has the open, high and the previous close price as the same. For example if a stock has closed at 100 the previous day and the open for the day is 100 and the high is also 100, do not buy that share, untill it breaks 101 and trades for few mins above the levels. You can even short at 99.50 with a stoploss of 1 rupee. Previous close, High & Open price same or almost same, then it is called a Triple top formation.- Options: Go long only if the triple top is breached decisively or Go short with 1- % stoploss Never short sell a share that has the previous days close, todays open and low price as the same. For example if a stock has closed at 96 and the days open and low price is 96, do not short the sell, untill it breaks 95 and trades for few mins below 95. You can buy it at 96.50 with 1 rupee stoploss. Previous close, Open & low price same or almost same, then it is called Triple bottom Formation; Options: Go short only if the triple bottom is breached decisively or Go long with a 1 % stoploss." Iv Enclosed a modification of the Excel Sheet here. So pls check. The places where u find Blue its where the Stock has opened equal to Prev Close. Then U can see for urself whether Its a Triple Top or Triple Bottom. Its Good method. A problem im facing is How to exit? Any body throw lite.  get the xl sheet from http://www.traderji.com/trading-tech...html#post57569 Last edited by swagat86; 4th September 2006 at 04:07 PM. 
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