General Trading Chat

vivektrader

In persuit of financial independence.
No body can identify a trend change before it happens,predictors call trend change a dozen times before it happens and they are proved wrong every time.

Trend change can be of two types, one is v shape reversal or market gets horizontal losing angle I'd ascent or descent and after a period of consolidation or distribution the trend reverse.There is enough material on how to identify trend change,Subhdip is running a full thread,Saint had his thread,XRay has his support and resistance thread,I have discussed it many times in my threads....so I need not repeat the same what is already said several times.But trend knowledge is absolutely essential for trading success.

I always go by pivots and angle of the trend.

Smart_trade
Thanks ST sir, that more or less answers my question, fortunately the three threads by you, Saint and Subhadeep are basis of all my understanding. Asked you directly just for reaffirmation.
 
No body can identify a trend change before it happens,predictors call trend change a dozen times before it happens and they are proved wrong every time.

Trend change can be of two types, one is v shape reversal or market gets horizontal losing angle of ascent or descent and after a period of consolidation or distribution the trend reverse.There is enough material on how to identify trend change,Subhdip is running a full thread,Saint had his thread,XRay has his support and resistance thread,I have discussed it many times in my threads....so I need not repeat the same what is already said several times.But trend knowledge is absolutely essential for trading success.

I always go by pivots and angle of the trend.

Smart_trade
sir, in intraday trading do you give any importance on candlestick pattern (hammer,shooting star,doji,engulf) or you just follow price movement, angles and pivots ?
in intraday do you take any trade like buy @ high of any high volume hammer formed at strong s/r level or you only take trade @ low/high of pivots?
 
sir, in intraday trading do you give any importance on candlestick pattern (hammer,shooting star,doji,engulf) or you just follow price movement, angles and pivots ?
in intraday do you take any trade like buy @ high of any high volume hammer formed at strong s/r level or you only take trade @ low/high of pivots?
I am not a candlesticks pattern trader but I give importance to patterns like hammers,shooting star when they occur near support / resistance areas for booking profits.

In intraday trading I will take trades in direction of the trend so will buy a high volume bar if we are in uptrend only ....won't trade this pattern in isolation.

ST
 

vivektrader

In persuit of financial independence.
Does 'Hourly' candle close constitute important levels of profit booking in terms of time and price in intra day trading?
 

vivektrader

In persuit of financial independence.
'Metamorphosis' of an uptrend into a downtrend:
Prerequisites : an existing trend
1. In below example an "Uptrend" constituted by higher highs and higher lows.
2. Flattening of trend EMA showing weakening of trend.
3.A pivot forming below EMA (first stab at EMA usually fails)
4.This is followed by a 'Lower High' (most important thing), this formation should alert us about a probable trend reversal.
5.Short entry is triggered at the break of mpl that had formed below EMA.
6.Downtrend follows.

Below chart depicts change of trend from up to down using pivots and EMA20, no ERL is used here.
 

vivektrader

In persuit of financial independence.
Vivek ji can u check "Dabur india" chart its looks like same as Rcap....?
Yes, reversal was similar. Although it is in a visual downtrend, opened gap down and then moved up to fill the gap, however previous day's low acted as a resistance and it reversed back down.
Regarding EMA, one thing to be remembered is, in case of gap openings, initially EMA may be misleading, like in case of dabur, it was still downsloping though price was moving up.
 

travi

Well-Known Member
Sorry this is not my original post
I posted my comments on RCAP charted posted above, but deleted original post the moment it appeared, as the original post may amount to predict, the scrip
You can share the bare technical again. If it is within rules, others can brainstorm.
 
You can share the bare technical again. If it is within rules, others can brainstorm.
you may find it funny
what to do if I do not follow any technical
I do not have RCAP intra day chart with me, as I normally do not track equities, (except 2 and that too for a purpose). I had a look at RCAP chart posted above and that was enough.

(It may not necessary/possible that I may post my comment for every chart posted in thread/forum)
 

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