My System - My trades.

[niftytaurus]

hi
In Crude, in 1 min chart..9:00 pm & 9:22 candel, made two lows...9:22 low is lower low than 9: 00 candel low..but obv is making lower high though slightly..is it a valid divergence signal for buy?
thanks

 

[varunkochhar]

Like today the High in crude was 3019 and when crude was at 3014 the OBV was lagging very far behind implying that this upmove was not true as it was built on less volumes.

 

[varunkochhar]

Today i used 3min.charts for crude for the first time as there was too much noise in 1min. I will check out 3 min.charts for a few days. The chart i have posted is of 3min. and is very clean and easy to decipher.

 

[varunkochhar]

I feel the Volumes are coming back. 2950 should be a good support.

 

[varunkochhar]

But as per Tuna ji No contra trades. (the temptation is always there though to catch every move)

 

[niftytaurus]

Good Evening Varun Sir
I would like to thank you from bottom of my heart for all the practical knowledge you have shared with us..I will be always greatful to you for this act of kindness
I have been always a price action trader..But obv gives me a new insight ..a new weapon
in my arsenal..its like "Brahamastra"
I use it in crude & banknifty..for crude, I give myself a humble target of 100 points per month..but i am happy to announce that I completed this target in 1st week of this month only..
thanks a lot for that
Regards

 

[checkmate7]

Good Evening Varun Sir
I would like to thank you from bottom of my heart for all the practical knowledge you have shared with us..I will be always greatful to you for this act of kindness
I have been always a price action trader..But obv gives me a new insight ..a new weapon
in my arsenal..its like "Brahamastra"
I use it in crude & banknifty..for crude, I give myself a humble target of 100 points per month..but i am happy to announce that I completed this target in 1st week of this month only..
thanks a lot for that
Regards

:clap::clap::thumb::thumb:

 

[niftytaurus]

But as per Tuna ji No contra trades. (the temptation is always there though to catch every move)

hi
Ya! Thats true! I take divergence only on short side..I meant i take contra trades when its short..
In divergence trades, I have lot of hesitaion for contra buy..
I dont know I see short trades more clearly than buy trades
Thanks

 

[varunkochhar]

Another Trick that i shared in the crude thread was to mark the OBV value in the lowest volume bar (This can be done in any liquid counter like crude/BN etc) in the time frame that you trade. This point really gives good trending moves either way, sometimes both ways. This is a very powerful point for trading. The reason being that the Bulls and the bears could not reach an agreement in price and hence the abnormally low volumes. After this whichever side takes control it remains with him for a good time (A good trend follows) Please validate this yourself. This has not been backtested by me. Please do your own due diligence.

 

[varunkochhar]

In fact this point becomes a support and resistance point of OBV for susequent days too. But this is done manually by me. Like in crude's case today the lowest volume bar got formed at 11:25 with a total volume of 170 contacts. The closing price at this point was 3011. Crude fell from this point to make a low of 2961. (50 points). It has not been able to claim the OBV levels since then and all rise need to be shorted till these OBV levels are breached.