General Trading Chat

[phoenixbird]

Yesterday's NIFTY EOD candle was nearly a DOJI, so was prepared for a big move either side @morning. Last two day was range bound market.
And today what market did, OPEN=HIGH.
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Most of the times we can make huge money just following such simple EOD based technicals.

OPEN=high/low should be seen only at opening time 9.15 or can it be seen at every opening/starting moment of a timeframe?

thanks

 

[vivektrader]

could someone help on this pls.

thanks

You can consider upper and lower trend channel lines as similar to upper and lower Bollinger bands, a breakout could herald a steep move up (or down) in that direction in some cases, but in most cases price will fall back into the channel. That's my understanding.

Vivek

 

[vivektrader]

OPEN=high/low should be seen only at opening time 9.15 or can it be seen at every opening/starting moment of a timeframe?

thanks

Open equal to high or low is used to assess momentum in first 5 to 15 minutes, can be very misleading. However in the direction of a strong trend, for e.g. open=low (in a strong uptrend) that is maintained at the end of first 5min. candle, one can consider taking half position long at the breakout of that candle.
But things can change very fast, if however the trend does continue for the rest of the day, that's possibly the earliest place one can enter.

Vivek

 

[headstrong007]

OPEN=high/low should be seen only at opening time 9.15 or can it be seen at every opening/starting moment of a timeframe?

thanks

1. Use OPEN=HIGH/LOW along with other technicals on EOD Daily Chart analysis to get more benefit. When open=high/low followed by PREV DAY price band squeezed, hourly BB squeezed, eod doji, EOD Narrow range day NR3, NR5, NR7, from overbought or oversold zone etc.
2. OPEN=HIGH/LOW must be seen 1m, 3m, 5m &15m charts combinedly. Add ur positions with increasing size in the direction of the trend. Also book partial and hold the rest.
3. When we anticipated a big move is coming using technical analysis OR before any event days OR after overnight critical news/event and market react with OPEN=HIGH/LOW. It's an ideal time for small risk-high reward trades.

But just randomly scanning open=high/low and make trades based only on this information does not make any sense.

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OPEN=HIGH/LOW is an additional confirmation when you anticipate a big movement is coming in either way. We can make a huge profit with big intraday leveraged position using a small stop loss. When trend goes one way in our favor, it's a jackpot trade. If we win only one with 3-4 such calculated low risk-high reward attempt, still we get huge profit overall. That's the magic of OPEN=HIGH/LOW.

 

[timepass]

Yeah, right. TatamotorsDVR almost daily has open=high/low for the first hour or so

 

[simplebuthard]

all news channels flashing news that BSE remain OPEN tomorrow. Then what about NSE? No news about NSE? Means still not decided whether NSE to be open or closed?

 

[monkeybusiness]

all news channels flashing news that BSE remain OPEN tomorrow. Then what about NSE? No news about NSE? Means still not decided whether NSE to be open or closed?

Probably will remain open, situation under control. Also NSE office in BKC is situated on elevated ground. So shouldn't be problem.

 

[simplebuthard]

Next week expecting the markets trade in sideways in short ranged. The OI suggests so. Seems like the week can be between 9800 to 9900 range. Don't expect any side breakouts.

As expected, as usual, premiums eating game going. all option buyers regardless of puts, calls, going to be loose everything in this expiry. nifty options both side lost premium today.

Yesterday we ended near 9800. Today world markets up. So going to trade between 9800 to 9900. Option writers enjoy

 

[Smart_trade]

There was a nice interview with Basant Maheshwari on ET Now just a few minutes back.....if one can get the transcript,it is worth studying...

Smart_trade

 

[simplebuthard]

I am starting my 54th month in my trading career from september. Tomorrow complete 53rd month, means 4 and 1/2 years.

In those 53rd months, i had seen only 3 months in which one could have made a jackpot in Nifty options, that too subject to making entry in right time of the month at right strikes. In another 50 months, I have seen 50 expiries where only option writers made money.

I suggest newbies to markets stay away from options, better concentrate on Nifty futures trading if you want to make decent living through trading.

I also rule out that 100% option traders losing concept. Because we have seen here few are successfully trading consistently in options with profits like xray27 bro. But thats a very picky right. But we can see here many futures traders with profits consistently.

Just thought to share what i think. Nothing big sarcasm guys. Enjoy trading.