Sharing my trades with proper trade setups

[shreeux]

..............................

 

[Biswajit Das]

Hello Shreeux,

Kindly go through my previous posts. If not clear then please PM me, I will try to help you. Learning needs passion and devotion.

thanks for reply,

what is this......r u shreeux or strategicin.......?????

 

[STRATEGICINVESTMENTS]

what is this......r u shreeux or strategicin.......?????

Hi Biswajit Das,

First two lines were written by me and the last line " thanks for reply" was written by him as I never use small letters for starting a new sentence. He must be new to this forum because I also faced such problems in my initial postings.

Now come to technicals.

NIFTY's last three weeks volume and price movement is clearly hinting for UPSIDE movement. I missed looking at chart from this point of view. So I am expecting to continue UP movement now atleast on daily basis if not for one week atleast. Probability of breaking / pricking / testing the resistance of all time high is very high. Whether it will sustain that breakout or not will be cleared by the volume at that time. Monthly volume is not supporting UP side breakout. Write in detail some other time and if some one want to write about weekly volume please discuss.

I want to clear fellow members that in price volume setup I won't be able to pick the future target as with Fibo extensions or retracements or many other techniques. I move step by step and price volume is just like LANTERN not like a TORCH (Sometimes it works as torch also). But it gives me fair indications before taking turn like below mentioned ITC is hinting to take upward turn now.

ITC's setup at present.

4th Dec vol = 44 lacs and close = 312.85
5th Dec vol = 102 lacs and close = 308.75 and low = 307.55, So much increase in volume and still support shown by green line in chart was not broken, made me interested in this chart.
6th Dec vol = 84 lacs and close = 311.05, Also last days low was not touched / threatened whole day plus higher close means 5th Dec vol was supporting vol. There are other indications also which are hinting towards UPside movement.

Best entry was at the closing time of 6th Dec ie at 311 with stop loss below 307.55. So Risk is around 4 to 5 points max and reward is approx 5 to 10 times in next 1 to 3 weeks. I took 50 percent positions on that day and will add in future.

Going to sleep now. Bad habit of late night working has not gone completely and tend to occur repeatedly.

Regards

Strategic Investments

 

[XUV-500]

Dear SI

How much weight age do you give to candle stick patterns when you sight them along with your Price-volume set up.
Please guide.

 

[STRATEGICINVESTMENTS]

Dear SI

How much weight age do you give to candle stick patterns when you sight them along with your Price-volume set up.
Please guide.

Hello XUV500,

First I never try to see any pattern, neither in candlestick nor in bars. Second even if there is any pattern of candlestick (suppose you pass me some pattern to analyze) I won't give it any weight age in my analysis and look price with volume behavior. I have studied candle patterns in detail for more than one year but now I use bars without open price just to see it in simple forms.

Regards

Strategic Investments

 

[sunnyman_46]

Hi,

Me too long on ITC on observing its support level around 307.
Waiting for Monday with long positions on ITC and TITAN.

Regards,
SUNNY

 

[STRATEGICINVESTMENTS]

Hello Sunnyman,

Will you mind giving some more details for your long position in ITC ? Didn't you think that support could be broken... Besides this what other factors you saw before entering. I am happy to find someone who also took positions at these levels which are generally anti trend or say at turning points. Now a day's mostly do trend based trading.

I will suggest you to tight your stop loss as soon as you got opportunity on EOD basis because NIFTY will soon turn but right now it will touch 6357 in INDEX.

Share some more details about yourself and your trading style.

Regards

Strategic Investments

 

[DelhiteRocks]

Why you are thinking "NIFTY will soon turn but right now it will touch 6357 in INDEX." ?

 

[sunnyman_46]

I took the position thinking that I cold enter with a smaller Stop loss.

I observe the market daily, but trade very rarely. I don't blindly follow the calls but do take some time to think behind, though I am not that good in technically reading the patterns.

Regards,
SUNNY.

 

[sunnyman_46]

Any views on TITAN ?