Diary of a 315 Trader

trade4putuval

Well-Known Member
#1
I have been a follower of 315 strategy theoretically, but practically I have been a failure with this strategy since i did not respect the rules of the strategy. I have created this post to keep myself updated on how I am trading with respect to 315 strategy.

I am planning to use the following strategies:
  • 315 Strategy
  • Ichimoku series

Hope this might benefit some traders!:thumb:

Regards
 

trade4putuval

Well-Known Member
#2
Future: BPCL

Strategy:
  • 315 Correction Strategy ( 6 weeks and 3 days since the candle has touched 15 EMA)
  • GFZ (Great Fool Zone using SMA Envelope (14 +/- 8% setup))

Patterns: Long green bar followed by a DOJI, sign of evening star??

Target:
  • 611 (15EMA as of today)
  • 575 (Lower Band of SMA Envelope)

Supporting Facts: see the peers, HPCL and IOC. Both had a relative bad day on Friday displaying bearish trend.

See below the SMA envelope suggesting GFZ. (Any better settings, you are welcome to recommend)
 

trade4putuval

Well-Known Member
#3
Future: BPCL

Strategy:
  • 315 Correction Strategy ( 6 weeks and 3 days since the candle has touched 15 EMA)
  • GFZ (Great Fool Zone using SMA Envelope (14 +/- 8% setup))

Patterns: Long green bar followed by a DOJI, sign of evening star??
Another signal today! The evening star has been invalidated, but then it has been replaced by a hanging man pattern.

Target:
  • 611 (15EMA as of today)
  • 575 (Lower Band of SMA Envelope)
New 15EMA stands at 616.60.

Strategy (today):
Ichimoku Strategy: One of my colleague has pointed out this fact around half an hour ago. In the weekly chart of Ichimoku, the candle touched the lower end of the ichimoku cloud, which indicates a resistance that stopped the ascent of the price (See the dotted cross). Please find attached the weekly chart for spot price of BPCL (Pardon my lack of software for derivative charts for Ichimoku pattern)



Combine this with the 315 correction strategy, and you have one more confirmation on the possibility of the price hitting 15EMA very soon. :thumb:
 

trade4putuval

Well-Known Member
#4
Re: Diary of a 315 Trader (Nifty ready for a slide again)

Future: Nifty

Strategy:
  • 315 Strategy (3EMA going below 15 EMA) - Not happened yet, there is a 5 point difference between the two. But one look at the chart and it says Down.
  • Ichimoku Strategy: Weekly charts shows the price hitting the cloud top, which looks like a strong resistance, but then the current week also saw the candle touching the cloud bottom, that could have been a strong support. But then when we see the candle, it looks poised to make a long red bar again. The reverse scenario however is not possible now given the GDP data that was available yesterday.


Patterns: Bearish piercing pattern in the weekly shows start of bearish trend in weekly.

Target:
  • 5300 (bottom of the cloud)
  • 5100 (Kijun Sen)

Supporting Facts:
 
Last edited:

trade4putuval

Well-Known Member
#5
Re: Diary of a 315 Trader (Nifty ready for a slide again)

Future: Nifty

Strategy:
  • 315 Strategy (3EMA going below 15 EMA) - Not happened yet, there is a 5 point difference between the two. But one look at the chart and it says Down.
  • Ichimoku Strategy: Weekly charts shows the price hitting the cloud top, which looks like a strong resistance, but then the current week also saw the candle touching the cloud bottom, that could have been a strong support. But then when we see the candle, it looks poised to make a long red bar again. The reverse scenario however is not possible now given the GDP data that was available yesterday.
However in 30-minutes chart, there is a GFZ zone near 5375, which can be used to make intraday gains by going long once!
 

trade4putuval

Well-Known Member
#6
Another signal today! The evening star has been invalidated, but then it has been replaced by a hanging man pattern.


New 15EMA stands at 616.60.

Strategy (today):
Ichimoku Strategy: One of my colleague has pointed out this fact around half an hour ago. In the weekly chart of Ichimoku, the candle touched the lower end of the ichimoku cloud, which indicates a resistance that stopped the ascent of the price (See the dotted cross). Please find attached the weekly chart for spot price of BPCL (Pardon my lack of software for derivative charts for Ichimoku pattern)
...
Combine this with the 315 correction strategy, and you have one more confirmation on the possibility of the price hitting 15EMA very soon. :thumb:
The price of BPCL is quite volatile due to oil volatility. Imagine 15EMA going from 616 to 633. This looks our target has been revamped to 637. However the stock is still overbought and has to correct if it has to break its recent high.

Additional point in weekly chart.



Looking at the other factors, the weekly chart should follow an evening star pattern. Last week saw a large green candle. This week should show a doji (CMP 668, should close at 660). Then the next week will show a large red bar thus rendering our initial target (611) :thumb:.
 

trade4putuval

Well-Known Member
#7
Re: Diary of a 315 Trader (Nifty ready for a slide again)

Future: Nifty

Strategy:
  • 315 Strategy (3EMA going below 15 EMA) - Not happened yet, there is a 5 point difference between the two. But one look at the chart and it says Down.
  • Ichimoku Strategy: Weekly charts shows the price hitting the cloud top, which looks like a strong resistance, but then the current week also saw the candle touching the cloud bottom, that could have been a strong support. But then when we see the candle, it looks poised to make a long red bar again. The reverse scenario however is not possible now given the GDP data that was available yesterday.

Patterns: Bearish piercing pattern in the weekly shows start of bearish trend in weekly.

Target:
  • 5300 (bottom of the cloud)
  • 5100 (Kijun Sen)

Supporting Facts:
There will be a short upside and then the price will correct to 5250. But overall global mood is flat, hence I am still keeping my fingers crossed. In weekly however, the upside is capped, but you never know! It is best to be in the sidelines till the closing of week decides the direction.
 

trade4putuval

Well-Known Member
#8
Re: Diary of a 315 Trader (Nifty ready for a slide again)

There will be a short upside and then the price will correct to 5250. But overall global mood is flat, hence I am still keeping my fingers crossed. In weekly however, the upside is capped, but you never know! It is best to be in the sidelines till the closing of week decides the direction.
:thumb:Finally things did happen like what was posted in Kavima's thread. There will be a bounce back before it heads to 5250. I was long at 5392 and the price went till 5351 ( I had a stop at 5342), and I got a chance to exit at 5436. (I cannot wait till the actual price of 5450, you never know how the market will behave!).

I have gone short again at 5420 (Trailing stoploss sell order). The weekly bearish candles has not been invalidated yet, so it will show more downside in today's short term trade (Saturday Trade), if it closes near 5325.
 

trade4putuval

Well-Known Member
#9
#10

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