(MCX Comedy..Errr. Commodity) - How to Fake your Trade

[stock_mani]

Profit booking is not ruled out but bear trend is not seeing as of now.

Had an entry yesterday but will update once my target reach. But just want to post that more than 60% trade probability will come only when we are able to read higher TF trends successfully & stick with them. Rest work will do by our better R:R/ Money Management. Taking more trades only will give harm to our ledger. It is market tendency to take weak traders in its loop by producing many fake signals & then throw them out after sucks their money.
If we can hold any position till trend's last breath/ opposite trend confirmation then we will only be on top of crowd. There is no any shortcut to get your piece of profit from this.

 

[pannet1]

1) On 5Min time frame, open line graph
2) Everyone knows how to draw a trendline. A channel is drawn just projecting it nearest pivot high (if trendline was drawn down) ...vice versa.
3) the pivot high or low as the case may be should have been formed between (in time) the two points.
4) in a down channel look for SELL first somewhere near the top channel line and vice versa.
5) if price is between the channel dont trade. however if you have loosing hedged positions like below .... try to SELL higher ... or BUY lower. How?
a. When adding new BUY positions above the existing one, add only smaller size. So if market moves against you, you can cover the one that is already in table ... vice versa for SELL
b. When adding new BUY position below the existing one, add same position size as the one on the table.. use only limit order when CMP is above. let it come and pick up your order, so chances are high that the original BUY position on table is closed with a small profit

Phew! That was very difficult to write.

The next piece of puzzle is how to adjust the channel according to the changing Market

1) the top line of the channel was originally drawn between A and B.
2) We already broke that. So we now move the channel line ... to the previous Pivot High.
3) We also needed to move the down channel line to connect the previous Pivot Low, because the Pivot high should be formed "between" the two connecting points of the down channel line
4) the channel becomes up channel, indicating a trend change .... only when it breaks the pivot high (A1 in the above picture).

 

[stock_mani]

My first target is 5640 to offload half qty, as per my trading plan... will hold rest until reverse trend. Will not take any other entry till:

 

[singsanjay09]

My first target is 5640 to offload half qty, as per my trading plan... will hold rest until reverse trend. Will not take any other entry till:


View attachment 29317

Mani sir, 5565-5590 is resistance zone, keeping eye there break out failure also possible there, IMO.

 

[Apacheindian]

Mere ku lagta hain ki crude niche ku jayega thoda..!


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[Tuna]

Mere ku lagta hain ki crude niche ku jayega thoda..!


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Keep a watch on ZINC , if it can hold 198-200 zone on EOD Basis it looks good for positional long, not convinced on the BOF though if happens.


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[Apacheindian]

Mere ku lagta hain ki crude niche ku jayega thoda..!


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Maja aa raha hain..!


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[Dantrd1]

Today taken second attempt at short. In crude. In 30 points profit with second trade of the month. First trade lost 50 points. This one should make atleast 100 or sl.

 

[Apacheindian]

Maja aa raha hain..!


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69 to 15 done..


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[stock_mani]

Out at cost from yesterday position..... lower high made on HTF. Bearish indicators are coming close. Tomorrow it will clear.