General Trading Chat

[travi]

IMD to come out with monsoon forecast at 3:30 today.
ST

IMD assess 97% monsoon :clapping: apparently projections are normal and very less probability of monsoon deficit.
Hip hip hurray

 

[Smart_trade]

Normal monsoon expected this year....in 97 % +/- 5% range.

ST

 

[timepass]

IMD assess 97% monsoon :clapping: apparently projections are normal and very less probability of monsoon deficit.
Hip hip hurray

Isn't that lower than Skymet prediction ?? I think they had said 102%

 

[travi]

Isn't that lower than Skymet prediction ?? I think they had said 102%

I think just like ST sir mentions +/-5% and this is just the first leg of prediction. it may change over the course of the season but we've had 3 successful seasons so far and IMD have been pretty accurate in the last 11 years of their predictions

I think if some1 can predict the rain, then we should better get them for the markets

 

[soft_trader]

I think just like ST sir mentions +/-5% and this is just the first leg of prediction. it may change over the course of the season but we've had 3 successful seasons so far and IMD have been pretty accurate in the last 11 years of their predictions

I think if some1 can predict the rain, then we should better get them for the markets

weather futures for trading?

 

[ravi2126]

Nifty from the bottom today took 6 bars of 3 min to make a small swing top.....but as the bottom has not broken in next 6 bars, now nifty seems to have made a bottom for the day and likely to go up unless some other bad news hits the market.

Smart_trade

Any significance of 6 bars n can v count same bars on any time frame...?

 

[LOVEENAJYOTHI]

http://wap.business-standard.com/ar...-inflation-the-rbi-policy-118041600634_1.html

 

[LOVEENAJYOTHI]

https://m.economictimes.com/markets...ing-in-indian-market/articleshow/63785039.cms

 

[Smart_trade]

Any significance of 6 bars n can v count same bars on any time frame...?

The logic here is market moves in impulse and corrective waves....and we all know that impulse waves are strong ,fast and travels maximum distance and corrective waves are choppy,laborious,slow,and difficult to trade.So in any timeframe we have to identify the direction of impulse waves and align our position to direction of the impulse waves and rest of the job is done by impulse wave....

I always apply this logic to shorter timeframes ,though it is my own homegrown idea to apply it to find out which way is the impulse.....and it helps me a lot to position myself in the right direction...

So today’s example,the nifty made a bottom in the first 3 min bar and went up and made a small swing high in 6 th bar......if impulse was on the downside,it would have broken the low within next 6 bars....but as it did not,market was announcing that atleast for now the impulse is on the upside.......if you observe the nifty fut chart,it gave 2-3 more locations where the corrective wave on downside was long in duration and the next impulse broke it in less number of bars indicating to me that the market is telling us that it does not want to go down and the market did the same till the end.....

I have found this technique very useful....but use it as a technique and not as a trading system...it gives multiple entries in ongoing trends.....

Smart_ trade

 

[ravi2126]

The logic here is market moves in impulse and corrective waves....and we all know that impulse waves are strong ,fast and travels maximum distance and corrective waves are choppy,laborious,slow,and difficult to trade.So in any timeframe we have to identify the direction of impulse waves and align our position to direction of the impulse waves and rest of the job is done by impulse wave....

I always apply this logic to shorter timeframes ,though it is my own homegrown idea to apply it to find out which way is the impulse.....and it helps me a lot to position myself in the right direction...

So today’s example,the nifty made a bottom in the first 3 min bar and went up and made a small swing high in 6 th bar......if impulse was on the downside,it would have broken the low within next 6 bars....but as it did not,market was announcing that atleast for now the impulse is on the upside.......if you observe the nifty fut chart,it gave 2-3 more locations where the corrective wave on downside was long in duration and the next impulse broke it in less number of bars indicating to me that the market is telling us that it does not want to go down and the market did the same till the end.....

I have found this technique very useful....but use it as a technique and not as a trading system...it gives multiple entries in ongoing trends.....

Smart_ trade

Thnx for reply..helps a lot..