Markets & After hours

[DSM]

TP, Re-reading your post - trends don't get over in 10 minutes. If it reverts back, it is not a trend, and if it moves higher, you get to be in the trend - and get to capture the middle part of the move. Traders get chopped out trying to catch the beginning and the end of the move. Dan had posted - something about 80% of the breakouts failing, and I had checked it out on the chart and posted charts which confirmed what he said.

Will you be monitoring these in real-time on 10 min chart too ?? I think you will find that by the time you decide whether it is trending or flat, it may be too late for an entry.

 

[timepass]

TP, Re-reading your post - trends don't get over in 10 minutes. If it reverts back, it is not a trend, and if it moves higher, you get to be in the trend - and get to capture the middle part of the move. Traders get chopped out trying to catch the beginning and the end of the move. Dan had posted - something about 80% of the breakouts failing, and I had checked it out on the chart and posted charts which confirmed what he said.

So how would you differentiate between a valid breakout/down and a weak one ? 20SMA being up/down for 5-6 bars continuously ?? or something like that..

 

[DSM]

Nifty today buy above 6,180 / Sell below 6,140

TP, it trading is not getting it exactly right. Does not matter, one has to go with the strength. If the market has broken the higher pivot buy. If it sustains and goes higher, buy more. Rational traders will freeze and not act when the market is in a momentum. But that is when one should act. Don't worry about being wrong - your trade is with the trend. SL of 10-15 points will protect you. Even if 5 of 10 trades goes against, the balance 5 trades will give you 20-40-50 points or more.

As I write, Nifty has made double bottom on 1M chart. 10M 20SMA is green. So I am already long. If Nifty reverses, I will max be stopped out at cost.

So how would you differentiate between a valid breakout/down and a weak one ? 20SMA being up/down for 5-6 bars continuously ?? or something like that..

 

[rajgreenpeace]

Nifty today buy above 6,180 / Sell below 6,140

TP, it trading is not getting it exactly right. Does not matter, one has to go with the strength. If the market has broken the higher pivot buy. If it sustains and goes higher, buy more. Rational traders will freeze and not act when the market is in a momentum. But that is when one should act. Don't worry about being wrong - your trade is with the trend. SL of 10-15 points will protect you. Even if 5 of 10 trades goes against, the balance 5 trades will give you 20-40-50 points or more.

As I write, Nifty has made double bottom on 1M chart. 10M 20SMA is green. So I am already long. If Nifty reverses, I will max be stopped out at cost.

I agree with DSM..............nifty up breakout 6178.....sell below 6120........

 

[DSM]

Nifty trading just below day's low. Bank Nifty is stronger. It has higher lows, but still in range. Holding long, but not for long.... If it does not move as expected, I will be SL'ed with a small loss. Will add above 6,180 if it moves up.

Nifty today buy above 6,180 / Sell below 6,140

TP, it trading is not getting it exactly right. Does not matter, one has to go with the strength. If the market has broken the higher pivot buy. If it sustains and goes higher, buy more. Rational traders will freeze and not act when the market is in a momentum. But that is when one should act. Don't worry about being wrong - your trade is with the trend. SL of 10-15 points will protect you. Even if 5 of 10 trades goes against, the balance 5 trades will give you 20-40-50 points or more.

As I write, Nifty has made double bottom on 1M chart. 10M 20SMA is green. So I am already long. If Nifty reverses, I will max be stopped out at cost.

 

[rajgreenpeace]

Nifty trading just below day's low. Bank Nifty is stronger. It has higher lows, but still in range. Holding long, but not for long.... If it does not move as expected, I will be SL'ed with a small loss. Will add above 6,180 if it moves up.

With my small knowledge.........I think nifty will any time break 6120.....and it will be clear ........bearish signal of Nifty........will take support @6050.....:thumb:

 

[DSM]

Seems so. I have already entered my SL level. I was watching BankNifty which seemed to be moving up, with Nifty at double bottom, it seemed BankNifty would pull Nifty. So entered the trade and also entered SL. Let's see what happens.

With my small knowledge.........I think nifty will any time break 6120.....and it will be clear ........bearish signal of Nifty........will take support @6050.....:thumb:

 

[rajgreenpeace]

Seems so. I have already entered my SL level. I was watching BankNifty which seemed to be moving up, with Nifty at double bottom, it seemed BankNifty would pull Nifty. So entered the trade and also entered SL. Let's see what happens.

Here also you correct..........Bank nifty looks strong.......both contradiction each other......today spot hit 11k.........it was expected........

 

[Trader_PK]

With my small knowledge.........I think nifty will any time break 6120.....and it will be clear ........bearish signal of Nifty........will take support @6050.....:thumb:

good god call man...keep giving this kind of so called god calls

 

[Trader_PK]

Seems so. I have already entered my SL level. I was watching BankNifty which seemed to be moving up, with Nifty at double bottom, it seemed BankNifty would pull Nifty. So entered the trade and also entered SL. Let's see what happens.

I will sell BNF below 10930 and will add more below 10880...look like BNF will follow NF in downside