trading futures on technical analysis with toocool

[toocool]

trade taken @5610

booked 50% @5695 (6 september)

booked 25% @5812 (10 september)

holding 25% for more gains or waiting for reversal signs to go short, though i think there is no reversal sign as of yet and target of this move may be 6000

cheers

booked 25% @5891 (i know bad place)

but long on hdfcbank now 643.85 for a swing trade targets @700-710

head and shoulder bottom is 90 points height so target above breakout of 620 is 710

 

[toocool]

i am long on first source limited for some weeks now @12.40 , it has done it bits on bear market for itself and now its looking for long term bull markets , i have got nice quantity of it for me the weekly chart is also bullish , target of 18-20+ should com soon maybe in 6 months -1 years

 

[toocool]

due to expected news and huge volatilty i have already liquidated my hdfc bank trade at par yesterday , and nifty swing trade will be taken at shown support area only as of now , market has tendencies to come to support sometime during the news and bounce back , so waiting is better than taking early . this is no shorting market and i have stopped intraday trading 1 year + back . so lets see

cheers

 

[toocool]

As you guys know , I am completely flat in the markets for the obvious reasons because there is no juice unless market fall to 5750 or about

However I took a very small position in Nifty Futures just to check if the position on the long side can be built, I bought 1 lot only @ 5948 but seeing markets not sustaining I got out @ 5936 with mere 800 rs loss................ Also now there's nothing to do because next few days will be volatile most probably, i will wait a dip as earlier stated :thumbup:

 

[toocool]

i didnt plan it out but i am now short half of my quantity in nifty future @5850 , its a 1-2 day trade , and quantity is half as it against main trend , i am expecting fast down leg in 1-2 days and will cover soon for a quick profit .

cheers

 

[toocool]

i made a mistake , i am not trading this way for last 1 year or so , i mean trading against the main trend , but i got carried away today . i also took early entry as opposed to my system , so i got out of the trade with loss of 40 points @5890 , with total loss of 50 points today , coudnt update here earlier in the day as i was in a hurry . and since i am not mentoring here in real time to anybody , but talk in my trades in general , i think i would only be giving my trades when i feel free , as writing posts real time doesnt feel right to me , i need to concentrate more on trading and i feel the method of trading will benefit to all forum members anyways whther i write real time or not .

had i shorted at proper place as per my trading method i would have carried the trade home , market went 53 points against my position i bailed out ,but no worries , tomorrow will be a brand new day

cheers

 

[toocool]

i am long on first source limited for some weeks now @12.40 , it has done it bits on bear market for itself and now its looking for long term bull markets , i have got nice quantity of it for me the weekly chart is also bullish , target of 18-20+ should com soon maybe in 6 months -1 years

real time break out happening again , it has breached the previous top of 15.40 today and expected to close above it today or in very near future . and the the big upswing should start

 

[toocool]

hi @DSM


sorry for the delay

here it is , since you gave me the new info about your trader friends setup , i must tell you its almost next to impossible as of now to identify what exactly he does in only 2 days of intarday chart , after identifying high low of 2 days and applying fibonacci on that , you know its very very discretionary in nature , and since the guy trades 30 lots for that means he is very very experienced guy , so that even makes it hard to guess , what i can tell you about fibo is how that works in principal .

markets are always in motion , all intarday movement is not any random event , i will prove it to you right here in my post , whatever level markets are today is because of all previous historical movements all intraday movements are extention of all previous intraday movements , which in turn are all extention of previous daily chart movement which makes daily charts and inturn makes weekly charts

now markets tends to take supports/resistance of fibo levels based on its importance (whatever the basis of importance of a level is a huge matter of discussion and we cannot get into that , but we know markets has its own minds ,it will take support and resistance where it has to)

most important fibo levels your friend told you are almost right , but let me tell mine , levels are 23%.38.2,61.8,76, and 127% and 161.8%

lets see some charts

its daily chart of nifty from 2008 -2010 , all alphabets are moves on upside and all % retracements are the fibo levels of that particular move in alphabets , 50% is also a fibo retracement however i do not give any importance to it .
there is no exception to the retracement , markets always always always take retracement based on the important lows and highs , what level will markets decide as important only markets know , it can be predicted but not 100%

more to follow

cheers

 

[toocool]

https://www.youtube.com/watch?v=PNQk_GJuZQo

 

[toocool]

https://www.youtube.com/watch?v=bE2EiI-UfsE