iCharts Discussions

[sonshu101]

[falcon]

[falcon]

Bullish Wolfe Wave - Apollo Tyre - Target: 90

[rk_a2003]

Falcon,

To answer in one word no method can be full proof. To trade any ww one need to keep multiple targets with trailing SL. Then your success rate will be really good compared to any other method and you will have an excellent risk reward.

Coming to Fusion trades it is a fusion of multiple technical indicators lined up in your favor with ww as a core pattern. In my opinion it has got a potential of catching market movers routine moves and shifts. It could be successful till they abandon their practice and embrace new methods. Then you may need new technique/method/strategy to take advantage of new environment.

The Fusion technique is similar to guerilla tactics. You attack quickly when favorable conditions evolve. No favorable conditions- No attack- Run away from the enemy is the guiding principle of guerilla war fare.

Now coming to this particular trade the overall market turned bullish and going up fast, therefore your short trade in Tata global is against overall trend. It’s time to run away. Any wise person will think of closing this trade in such a scenario.

The reason I am still continuing in this trade is for the only reason that this particular scrip is not in Index. FII’s appears to be long in index shares and short in non-index shares. My indicators are telling that probably they are short in Tata global for time being.

On Friday Index moved up 2.52% and this scrip hardly moved up and fell nearly 2 % from the high. This fact indicates that the Fusion method was able to catch hold of the scrips direction in advance. If market consolidates for few day’s then the chance of reaching the first target is bright in this trade.

However it’s going to be a litmus test for Fusion Strategy.

[doctorshah]

LIC has reduced its holding in Tata Global by selling shares on Friday

[rk_a2003]

[sherbaaz]

Statistically ww pattern has almost 80% hit ratio. This I think is right as I have personally traded them on time frames like 5/60/ eod/weekly.

The prob comes when ppl start trading wrong ww patterns which many are doing. some body says its marginally wrong other x y z factors are in favor etc etc. but as such trading is a game of probability and in that also when ppl trade marginally wrong ww patterns in their system or stand alone basis, its bound to give losses in the long run of yr trading.

mkts are never wrong its our judgement based on our analysis which is wrong. mkts never go against any position. 50%-60% of time our foundation which is our analysis is wrong, losses are bound to happen.

trading rules are simple the difficult part is to follow them without tweeting them. I always feel apply all yr mind in making trading rules or set up rules or system rules but once done follow them without applying yr mind.

regds,

[prst]

rightly said bro.

Just wanted to know your experience on trading WW on the weekly charts.
It must be difficult since u have to keep track of any contrary wave developing on the shorter time frame (daily).
your views on this would be helpful, as am currently trying to trade on the weekly, but not feeling confident about holding the position and risking for a longer period.

[sherbaaz]

[sonshu101]

Stoploss protected by EOD by today

[Rahulsharmaat]

i also shorted at 117.5--- and kept stop loss at 120.55--in future-- and it traded till 120.45-- many times-- but atlast didnt hit n safe---

lets see where this trade takes me

[anand1234]

[rk_a2003]

Stoploss triggered in Tataglobal.

[falcon]

[Vinodz]

dear rk

pls check
is tataglobal entering back into a -ww ?