New Intermed Uptrend!!
- Thread starter Saint
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There are many answers to that question,Satya.The final answer would be to do what suits you best.
Basically,what do we have?We have a primary uptrend,an intermediate uptrend,but daily uptrend just got cracked.Means nothing till the markets do what Raj describes.Even if that happens,what then do we have........a dntrend on the daily charts,but still holding up the uptrend on the longer term charts.
Now as we had discussed earlier,we have an intermediate uptrend,with a daily charts going increasingly vertical......therefore when we get a break of that uptrendline,we are out.We wait now......We are not bearish yet.Why not?We still have an intermediate uptrend in progress,and we don't want to mess with that.What we are looking for is the daily charts to give us an indication to go long again.
So,our strategy now:We wait .......if you are a longer term player to go long again.The latest pivot low on the weekly is 4100,means whatever the daily does,we wait till that opportune moment gives us an indication to go long again.
On the other hand,if over the next few weeks of volatility gives us a lower pivot high on the weekly and then a lower pivot low,breaking that previous pivot low would be a cue to get in short.
For now,we wait.........
Can you get in and capitalise on a short following the daily dntrend.......sure,no harm in taking a swing short once a daily dntrend is confirmed but be fully aware that we are still very much in an intermediate uptrend.Always more volatile till all time frames are in agreement........
So,for the newcomers and the intermediate trend traders,more a time to sit out and wait till we start buying in again.The more advanced and swing traders can try to capitalise on this down move.........but the important thing to keep in mind:The intermediate uptrend is still on,and with that in mind,trade your timeframe.
All the best!
Saint
Basically,what do we have?We have a primary uptrend,an intermediate uptrend,but daily uptrend just got cracked.Means nothing till the markets do what Raj describes.Even if that happens,what then do we have........a dntrend on the daily charts,but still holding up the uptrend on the longer term charts.
Now as we had discussed earlier,we have an intermediate uptrend,with a daily charts going increasingly vertical......therefore when we get a break of that uptrendline,we are out.We wait now......We are not bearish yet.Why not?We still have an intermediate uptrend in progress,and we don't want to mess with that.What we are looking for is the daily charts to give us an indication to go long again.
So,our strategy now:We wait .......if you are a longer term player to go long again.The latest pivot low on the weekly is 4100,means whatever the daily does,we wait till that opportune moment gives us an indication to go long again.
On the other hand,if over the next few weeks of volatility gives us a lower pivot high on the weekly and then a lower pivot low,breaking that previous pivot low would be a cue to get in short.
For now,we wait.........
Can you get in and capitalise on a short following the daily dntrend.......sure,no harm in taking a swing short once a daily dntrend is confirmed but be fully aware that we are still very much in an intermediate uptrend.Always more volatile till all time frames are in agreement........
So,for the newcomers and the intermediate trend traders,more a time to sit out and wait till we start buying in again.The more advanced and swing traders can try to capitalise on this down move.........but the important thing to keep in mind:The intermediate uptrend is still on,and with that in mind,trade your timeframe.
All the best!
Saint
That's your strategy to take,Satya........for example,you could take x position in Nifty and get out a third once the trendline cracks,one third when pivots crack,and hold the third as markets are still in an intermed uptrend as you are playing the longer haul,and then get back the other two thirds once you get the necessary signals to go long again.
Or you could exit all third's and look to reenter once we get the necessary signal to go long again...........Or hold all till the intermediate trend cracks,and then out all and short all.
Basically,n number of ways.......so tweak as per your comfort levels.
Shall add more later!
Saint
Or you could exit all third's and look to reenter once we get the necessary signal to go long again...........Or hold all till the intermediate trend cracks,and then out all and short all.
Basically,n number of ways.......so tweak as per your comfort levels.
Shall add more later!
Saint
Great going,Max!!Well done!
Ah,hope you are right......but whatever our minds throw up,trade it whatever the direction.
Have the deepest respect for people like your father,lucky to have a mentor in your own house.
And well done,on the INFY bit.........nice!
Ah,never overly bearish,my friend.Never overly bullish either.Am a student of the trend,and will happily go either direction on a change of trend.At the present moment,from a long term perspective,still bullish,From intermediate perspective,still bullish.........not what I feel,or what I think,or what I hope,but just on looking at the trends.More has to happen for a change in that view.
Best regards to your father and to yourself.
All the best!
Saint
Ah,hope you are right......but whatever our minds throw up,trade it whatever the direction.
Have the deepest respect for people like your father,lucky to have a mentor in your own house.
And well done,on the INFY bit.........nice!
Ah,never overly bearish,my friend.Never overly bullish either.Am a student of the trend,and will happily go either direction on a change of trend.At the present moment,from a long term perspective,still bullish,From intermediate perspective,still bullish.........not what I feel,or what I think,or what I hope,but just on looking at the trends.More has to happen for a change in that view.
Best regards to your father and to yourself.
All the best!
Saint
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