Trading the 10min with a 30/60min perspective

[Saint]

Dear Saint we always trade in direction of higher time frames trend like 60/30 min trend ??
we have down trend in 60/30 min and we get a pattern like a triangle as in u r chart we only search for oppertunity to short ??

Regards
Satya

Yes Satya......always in the direction of the trend.....some of these trades are anticipatory more than confirmatory........have a look at RIL today.

Obvious isn't it?The trends have changed.......no more about shorts anymore in RIL.

Saint

 

[Satyen]

Hi Saint and others below is 30 min chart of RIL its forming higher lows so no more shorting unless untill we break this pivot low we dont think about shorting

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same time we are formomg a triangle like formation in 5 min we will not trade the break dosn from this pattern rather will wait for upside break out

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Regards
Satya

 

[Saint]

Great stuff,Satya....also,if it clearly breaks out of that pivot high that you have drawn......we have a trend reversal on the 30/60,meaning we no more look for short opportunities,instead of that,we look for longs........not yest so far.

So far as this strategy goes,no trade so far.....although we are having a good day with the mini-flow.

Saint

 

[rajendrani]

Saint Sir can we consider this

http://www.traderji.com/technical-analysis/26044-trading-part-time-profession-18.html#post285103

 

[Satyen]

One More Doubt Dear Saint We Also carry our position to next day or square off at EOD ??
In your charts looks like we carry our positions overnight

Regards
Satya

 

[Saint]

Possible trend reversal more and more looking like no juice to it so far......maybe wrong,maybe not.....importantly,standing aside and seeing how things stand for now.

The existing plan is still to look for short.......60min trend has to do more to change our view.

Saint

 

[Saint]

One More Doubt Dear Saint We Also carry our position to next day or square off at EOD ??
In your charts looks like we carry our positions overnight

Regards
Satya

Sorry about the 3rd....meant to say that we exit at eod.

All exits before mkt closes........more of a quick swipe,take what you get,go and sleep,come back again the next day.


Saint

 

[Saint]

Newer highs beings made,just about.......not interested,.... look at the comparative vols.

Still on PROWL mode!

Saint

 

[Saint]

No trades for today from RIL......There was from certain others,but we will talk RIL for a couple of weeks before we expand.

Saint

 

[kiranb]

Saint sir can u plz clarify my doubt

What do we do now in RIL, it formed descending triangle, making higher lows and BO happened but not with bigger volumes.

So do we go short when the support TL gets BD if it happens on Monday (considering this BO as false BO) ? or we leave this patten ?
or else we go long above the ystd high ? as stochastic are very low and TL is giving support on eod. i am putting 2 charts of RIL one intaday to show triangle (this is shown in satya sir chart) and the other eod to show the TL and stochastic.

Yes i understand that this thread does not look at eod but i got doubt so thought of asking, sorry for the inconvenience that is why i am just giving the link of EOD chart of ril.

Eod chart with TLs

http://img21.imageshack.us/img21/5817/ril6mar09eod.png


kiran