Day Trading Stocks & Futures

[apegaonkar9]

I really do not want to get into the middle of this dispute. Please stop trolling his charts. His drawings do have a basis. Al Brooks in his book "Trading Ranges" stated that you can draw the lines at the end of the bar or at the body and you can start at the opening of the first bar and then you can draw it to the high of the last bar etc. He basically meant all possibilities are valid. Regarding that line which passed through a green candle and a subsequent red candle bodies, it is not wrong. I will give two reasons. If you look at a higher time frame, an outlier pair of consecutive red and green candles becomes a tail. So, he just drew across the tail. The other reason is that those candles just crossed the line which he drew and immediately pulled back. This is a sign which tells that the line he drew was respected.
Guys, please note that the purpose of those drawings is to understand market behavior. Learning geometry is not our goal here.
Please do not think I am taking sides here. I read those Al Brooks books and am merely expressing my thoughts based on what is mentioned in those books.
Moreover, please do not fight or troll. If you did not like something related to analysis, please ignore. But if somebody is talking about politics etc then report to the admins. This approach works well for trading discussion and our trading health too.

I am totally agree with you on this issue. I hope everyone on this forum aim is to earn money. Myself has developed strategies based on my mistake directly link to money losses.
I could gain some insight to improve my proft. What wrong in it. I am very sure that there is no one on this forum or even in world who can predict stock market move in advance.
If someone then he is spiritually enlighten, In that case he won't require monetary gains.
One who knows everything is Almighty God.
Everyone is in search of him.
Accepting as human if I need to improve at I must know other strategies.
It's very easy to use negative words or remarks on others. Last but not least.
"बुरा जो देखन मैं चला, बुरा न मिलिया कोय ।
जो दिल खोजा आपना, मुझसे बुरा न कोय ।।

 

[apegaonkar9]

The set of rules I am following are different. And just because you don't know does not mean they don't exist. Or to be more clear if it's not there in many trading resources (read books, courses etc) does mean it's not there.

Dear Primitivetrader please post your chars and views ignore noise.
Can you help me how I do the same for nifty. Thanks

 

[primitivetrader]

Dear Primitivetrader please post your chars and views ignore noise.
Can you help me how I do the same for nifty. Thanks

NF I do not track. but you can first plot the swing line. it will make things easy as you can see the patterns and pressure whether bullish or bearish other PA quite easily as compared to plain PA chart.
for the intermediate swing I am using 9 bars fractal and for the major swing 21 bars fractal. the parameters are for the 2M-1M time frame. if you are using other time frames you can do some testing and see how many bars fractal works well for the swing identification.
if you are using amibroker below is the afl which plots the swing lines high to low as per fractal you can change the number of bars in the fractal. it's not my code have got it from the net but works well and reduces my work subtancially. hope it helps.

_SECTION_BEGIN("WAVES");


x=xx = BarIndex();                                                       
fvb = FirstVisibleValue( x );
lvb = LastVisibleValue( x );

EWRS = EWLS =Param( "Strength",4, 2, 50, 1 );
plotpivots = ParamToggle( " Pivots", "NO|YES", 0 );
plotEWswings = ParamToggle( "EW Swings", "NO|YES", 1 );


// Identifying Pivots

pk = H == HHV( H, EWLS ) AND Ref( HHV( H, EWRS ), EWRS ) < H;
  pk  = pk AND LastValue( x ) - ValueWhen( pk, x ) > EWRS;
    
    tr = L == LLV( L, EWLS ) AND Ref( LLV( L, EWRS ), EWRS ) > L;
    tr = tr AND LastValue( x ) - ValueWhen( tr, x ) > EWRS;

if( Plotpivots )
{
                            
    PlotShapes( shapeSmallCircle * pk,   colorBlack,  0,  H,  15 );
    PlotShapes( shapeSmallCircle * tr,   colorBlack,  0,   L, -15 );
}


// DRAWING SWING LINES

pk = IIf( pk, IIf( ValueWhen( pk, x, 2 ) < ValueWhen( tr, x ), pk, IIf( ValueWhen( pk, H, 2 ) > H, False, pk ) ), pk );
pk = IIf( pk AND ValueWhen( pk, x, 0 ) > x, IIf( ValueWhen( pk, x, 0 ) < ValueWhen( tr, x, 0 ), IIf( ValueWhen( pk, H, 0 ) >= H, False, pk ), pk ), pk );
tr = IIf( tr, IIf( ValueWhen( tr, x, 2 ) < ValueWhen( pk, x ), tr, IIf( ValueWhen( tr, L, 2 ) < L, False, tr ) ), tr );
tr = IIf( tr AND ValueWhen( tr, x, 0 ) > x , IIf( ValueWhen( tr, x, 0 ) < ValueWhen( pk, x, 0 ), IIf( ValueWhen( tr, L, 0 ) <= L, False, tr ), tr ), tr );

px0=ValueWhen(pk,x,0); tx0=ValueWhen(tr,x,0);
px1=ValueWhen(pk,x,1); tx1=ValueWhen(tr,x,1);
px2=ValueWhen(pk,x,2); tx2=ValueWhen(tr,x,2);
ph0=ValueWhen(pk,H,0); tl0=ValueWhen(tr,L,0);
ph1=ValueWhen(pk,H,1); tl1=ValueWhen(tr,L,1);
ph2=ValueWhen(pk,H,2); tl2=ValueWhen(tr,L,2);

if( plotEWswings )
{
aa1=IIf(px0>tx1,(ph0-tl1)/(px0-tx1),0);
aa1=IIf(pk,Ref(aa1,-1),aa1);
ls1=aa1*(xx-tx1)+tl1;

bb1=IIf(px0>tx1 AND px1<tx1,1,0);
bb1=bb1+Ref(bb1,-1);bb1=IIf(bb1,1,0);
ls1=IIf(bb1,ls1,Null);

Plot(ls1,"",ParamColor( "Color", colorCycle ),styleLine|styleNoLabel|styleNoTitle|styleThick,Null,Null,0,0,1);


aa1=IIf(tx0>px1,(tl0-ph1)/(tx0-px1),0);
aa1=IIf(tr,Ref(aa1,-1),aa1);
Ls1=aa1*(xx-px1)+ph1;

bb1=IIf(tx0>px1 AND tx1<px1,1,0);
bb1=bb1+Ref(bb1,-1);
bb1=IIf(bb1,1,0);
ls2=IIf(bb1,ls1,Null);


Plot(ls2,"",ParamColor( "Color", colorCycle ),styleLine|styleNoLabel|styleNoTitle|styleThick,Null,Null,0,0,1);
}

_SECTION_END();

 

[tradermodified]

No change in int. rates

 

[primitivetrader]

there are 2 types of pattern/S-R lines or zones.
1) diagonal
2) horizontal

diagonals are difficult to draw as need lots of eyeballing and finer details and a very good skill set of PA reading more subjective.

horizontal S/R lines or zones are easy as compared to diagonal. they are easy to identify. they are also very effective in trading. key thing is to look for Mj swing point(s) to draw them on lower time frames.

in the below chart I am using 21 bars fractal for Mj swing H/Ls and the short trade from HOD is not taken by me (its a Quasimodo) that zone is for reference only

 

[primitivetrader]

 

[lakers]

My holdings going -ve today.

St saheb , market me in ya out ?
kuch views do !

 

[vikas2131]

How similar is the consolidation going on of Kospi Korea & Nifty India since 2 months?

Kospi is leading by 10 days, so if co-relation remains true, Nifty should gradually inch towards upper band at around 15k over next 5-10 sessions

 

[cinderblock]

"Lockdown kiya thik hai per iss bar phir 20L cr ka package mat dena. Peechli baar ke abhi aise hi pade hai

Aur phir sab bandh hai to kahi kharch bhi nahi kar sakte"

 

[lakers]

"Lockdown kiya thik hai per iss bar phir 20L cr ka package mat dena. Peechli baar ke abhi asie hi pade hai

Aur phir sab bandh hai to kahi kharch bhi nahi kar sakte"

wah cinderblock wah . wah wah wah !