Intraday trading ranges for a scrip

#1
dear traderji,

normally i used to use elliot wave theory of 61.8, 50 and 38.2% levels while trading even during the day and it works most of the times [especially when for a scrip the open and high price are the same and the scrip cuts the high price from its registered low, the target of 61.8% gets achieved most of the times} But here I can arrive at the target or stoploss levels only during the trading hours.

My query is 'Is there any calculation to arrive at the target price, buy/or sell price, stoploss level from the data available for a scrip/index on the previous day.

For eg. today the range for Maruti are
prev.close - 392.1 open - 394.9 high - 395.4 low - 384.65
today's close - 385.5 Average price - 388.08

Will these data be useful to arrive at some trading ranges for tomorrow.

Or, is there any other way to get technical insight into the future price movement using the past movement.

thanks
 
#2
hi badri,
I have used the pivot points provided by thesurefirething.com camerilla equation for a while and amazingly works very well with scrips of high volatility but the cost of subscribing for tht site is 90 US dollars per month.It accurately forecats the high and low of 2morrow by taking 2days end of data.
uday
 
#3
billauday said:
hi badri,
I have used the pivot points provided by thesurefirething.com camerilla equation for a while and amazingly works very well with scrips of high volatility but the cost of subscribing for tht site is 90 US dollars per month.It accurately forecats the high and low of 2morrow by taking 2days end of data.
uday
This is a very old thred but still would like to make a point.

Billauday, are you a sales person for surefirething? If you are please make that clear in your messages and do not make it appear like a genuine member recommendations. Sales messages should be welcome but should be made clear. Surefirething seems like a bogus site. They never mention anything about themselves or their registered address or contact details (the only contact is a web page for responses). They charge $99 for a week. Even if they con 2000 guys into checking the trial for a week, they are richer by 200,000 - it does not cost that much to put up a website with a mediocre calculator of some sorts.
 

nareshch

Active Member
#4
billauday said:
hi badri,
I have used the pivot points provided by thesurefirething.com camerilla equation for a while and amazingly works very well with scrips of high volatility but the cost of subscribing for tht site is 90 US dollars per month.It accurately forecats the high and low of 2morrow by taking 2days end of data.
uday

Just saw in another post by Mr.Tariq ..

http://www.deltat1.com/Education/tools/pivot-calculator/index.htm

This gives the camerilla equations pivots

Regards
Naresh
 

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