Indecision + Fib Ret setup [Intraday]

kainiteh

Well-Known Member
#1
Caution: This thread and my post is only for educational purpose and Record of my trade setup performance. No call made here!

Hi,
After some profit and considerable loss with time effort finally I protected my capital. Now I closed my DP account and Searching for new broker with reasonable brokerage for Intraday future. I am registering this input as trading log to review myself in future to fine tune and optimize my new setup. After accepting the truth that I am not good with indicator, I moved to price action , first tried naked price action but fact is candle stick itself an indicator. So finally I come with definite and non-adjustable Entry and Exit setup which is best suits for me. Now I doing paper trading to record and fine tune before using it in Real trade

All my objective is end month with +100 points of Bank nifty

Indecision + Fib Ret Setup:

Buyer = Demand / Seller = Supply (used interchangeably)

Fib Ret:
I had learned about Fib even before entering into share market which was used for interpolation and extrapolation, so I am stick with what knew as basic.

Indecision Candle(Doji):
They are different views about indecision candle, to me it is where supply and demand balanced or tug of war with same strength of buyer and seller, if break or unbalance of this indecision will create some momentum where we can exploit and get some profit

Basic Price action
I am using all other basic things for consolidation especially Microtrends

Candle strength(descending order):
Doji, Doji with small real body

Time frame:
15mintue[Setup] / 5 minute [for stoploss]

Preferred future
Bank nifty

setup
Find Indecision Candle, Make Fib ret with ratio 1.5, 2.0 in both direction

Entry
Entry at Ret1.50, [I prefer limit order, to control emotions]

Exit
Exit at Ret2.0 [I prefer limit order, to control emotions]

Stoploss
check 5 minute chart and place stop loss above / below of previous swing
[or] valid support or resistance can be used

Rules
1. One Indecision candle valid for 1 buy or 1 Sell or 1 buy+1 sell irrespective of win/loss
2. If indecision candle followed by another indecision candle respect will as per candle strength
3. Length of tail > 2xreal body
4. Trade between 10 A.M to 2.30 P.M, All eligible candle should trade
5. Two loss in row, Halt trade for day

P.S: I am still working on MM and Stoploss definition

 
Last edited:

kainiteh

Well-Known Member
#4
Back test my setup for this month with daily (1 day).. Result is fine but Entry and exit are same day or plus one day... delivery and T+selling is not possible as normal intraday... better stick with intraday

 

kainiteh

Well-Known Member
#5
it may seen most of trade let it profit run, but objective is clear end with +100 points at end of month... mean 25 points per week... after slip and brokerage.... that's reason its with definite trade setup, stick to setup.... put limit order and stay back.... well... important thing is setup not to skip any eligible indecision.. because no one know after will next candle in right side,, all candle should in trade if it is eligible...
 

kainiteh

Well-Known Member
#7
31.7, Entry 2



Limit order: Enter at green, Exit at Red
Note: 2 candle after second up arrow is less priority comparing previous one, first candle remains setup candle. Play as per rules
 

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