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a layman's approach to break out and break down |
mrvishal_g
White Belt
Joined: 17 Sep 2010
Posts: 89
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Post: #451  Posted: Wed Nov 24, 2010 9:55 pm Post subject: |
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Hi Casper,
I would like to request to chk one thing in your set up based on RSI & MACD
As per your set up you chk
1. Chart Pattern 2 RSI & 3 MACD if all are in same direction then BO/BD is have a good performance. which is correct in most of the time.
Now my point is just add previous trend also to give more strenth to BO/BD.
For Example A share ABC ltd was trading at the rate of 100 before three months which was the lowest price at least in 6-8 months and ABC ltd start moviing up and start trading near 120 after a month and then make some bullish consolidation pattern say flag/pannent etc. your set is RSI & MACD is also bullish then chances of BO will increase bcoz the stock is just starts increaing. ( prior trend is not very long)
In Short, for bullish BO chances will increase if chart in bullish trend but trend is not very long or stock in not at its all time high like level or visa a versa. I request you to chk this on your failure cases i think your failure cases will reduce.
Vishal
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mrvishal_g
White Belt
Joined: 17 Sep 2010
Posts: 89
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| Post: #452 Posted: Wed Nov 24, 2010 10:33 pm Post subject: |
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Hi Casper,
See the attach chart of HCC. BO of syn tringle. BO point is 62 and diff between uppertrend line and lower trendline is 15 (70-55) so target may be 47-48. As per you also 52 is the next target if break 56 which it did today and close 55.45.
Pl advice i m thinking to short it for target of 52-51.
Vishal
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casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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| Post: #453 Posted: Wed Nov 24, 2010 10:42 pm Post subject: |
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| sumesh_sol wrote: | | casper wrote: | thanks sumesh once again for taking time to test it. generally a test pilot is more skilled than a normal pilot as he flies to test the aircraft and takes life risk
in our ichartian air fore(!), u have proved ur self to be the best test pilot so far  |
Hi Casper,
Thanks to you dear for initiating this informative learning link.. Surely we all Shall be benefitted by it , if we try to participate in what you call "Pilot test".
I went through your entire thread including your all important strategy word document before starting my test and commenting anything on them.
So far, I have tested this strategy to almost 90% of success rate which is quite good I feel. Once I develop confidence over a period of time, I shall think of increasing my stakes...
I like more of day-trade because it allows to enjoy your time post market hours, though it requires lot of monitoring and risk is more, but then in present scenerio, risk is even more in carrying given the amount of volatility we are witnessing...
Earlier, I used to switch between multiple time frames, now I have restricted myself to 60tf, as I found it to be most reliable in day trade. My buy/sell signals are based on hourly only. I strongly recommend all trader brothers to follow only one time frame whichever they are comfortable with.
Thanks & Regards,
Sumesh |
thanks for ur kind words sumesh. i am sure that with this kind of wholehearted participation we are sure to prove ourselves as one of the finest traders of stock market very soon and its very true that nowadays holding positions over night has become very risky so its good to finish it before we leave the market
one thing i would say about our thread that after starting this thread day by day i came in touch with so many fine ppls, so many fine traders (including u of course )that i really feel myself lucky. trading and ta have become more attractive for me
the general atmosphere of ichart is so great that once here, one just feel the urge to perform from the core of the heart, and that's because so many good ppls .so many great traders are here
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mrvishal_g
White Belt
Joined: 17 Sep 2010
Posts: 89
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| Post: #454 Posted: Wed Nov 24, 2010 10:44 pm Post subject: |
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Hi Casper once again
AAJ MEIN TUMHE PRESHAN KAR DOOGA......... 
Few days back i asked you abt Patel Engg. (decending tri case
bd at 362) you given target of 270 if break 350 today it close at 345 today.
RSI and MACD is supporting both are bearish.
Please chk it, is it reliable one.
Vishal
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casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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| Post: #455 Posted: Wed Nov 24, 2010 10:50 pm Post subject: |
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| mrvishal_g wrote: | Hi Casper,
See the attach chart of HCC. BO of syn tringle. BO point is 62 and diff between uppertrend line and lower trendline is 15 (70-55) so target may be 47-48. As per you also 52 is the next target if break 56 which it did today and close 55.45.
Pl advice i m thinking to short it for target of 52-51.
Vishal |
sorry vishal i made a mistake while saying go short after breaking 56, a care ful look suggests another tl is here. we need a bd from 55 level too . plz see the chart
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casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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| Post: #457 Posted: Wed Nov 24, 2010 11:08 pm Post subject: |
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| mrvishal_g wrote: | | mrvishal_g wrote: | Hello Casper,
Please comment on
Onmobile 252.7..........RSI is oversold
It is my perception  that tom it will must touch 269 atleast in intraday.
Vishal |
Hi Casper,
It open at 270 and trade well near 269 and close 263.
Now , I would like to share why i was expecting this.
This tips is given my teacher (a 25+ experiend trader, 8+ year teaching experience, He resigned from Piolet in Air Force due to his passion abt share market. He was teaching in a institute with Mr. Ashwani Gujral before start his own institute )
He told us that whenever i share fall badly due to any reason in market and try to overcome in last few minute of market, and close far from Last Trade Price due to average price, then it is very much chances that the stock must trade at LTP in next day. The fact behind it is that the buyer is generally a big boy having a huge position in stock and was trying to make M to m by increasing rates in last few minutes.
...Vishal |
that's why i always noticed that down trending stock if makes a gap up opening generally gets down and good for intraday short.
i have noticed and wrote about it and its opposite phenomenon that, up trending stock, if makes a gap down opening are very good candidate for intraday longs
i used this trick for intraday, but today only i came to know the reason behind it. thanks for this information. u r really lucky that u have the opportunity to learn from such an experienced fellow
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casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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| Post: #458 Posted: Wed Nov 24, 2010 11:11 pm Post subject: Re: Help |
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| measoldier wrote: | | casper wrote: | | measoldier wrote: | | Anyone pls let me know in icharts how to increase number of days in data to be displayed. By default it is 3 days in all time frames other than daily, weekly and monthly. |
u see the time frame drop down menu?? now just click on the button which is just immediately left to this drop down menu, it will allow u to adjust number of days and number of years.
whatever days u select at most u can get around 10-20 days depending upon ur system and network connection, so selecting more than 20 days wont be helpful |
thanks casper
sorry for late reply |
no sorry no thank u between brothers
in fact i was also late in morning to reply u as i was watching charts so got late
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newinvestor
White Belt
Joined: 16 Feb 2010
Posts: 120
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| Post: #459 Posted: Thu Nov 25, 2010 12:04 am Post subject: |
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| What timeframe have you found most succesful for intraday trades? 60mins, 5 mins?
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chetan83
Brown Belt
Joined: 19 Feb 2010
Posts: 2036
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| Post: #460 Posted: Thu Nov 25, 2010 12:08 am Post subject: |
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| newinvestor wrote: | | What timeframe have you found most succesful for intraday trades? 60mins, 5 mins? |
Casper Bhai,
To add on further to this question........pls share...which time frame along with the EMA's is beneficial; is it 60mins, 30mins, 15mins or 5 mins. Should the EMA's needs to be changed in different time frames???
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vrushabh123
White Belt
Joined: 18 Nov 2010
Posts: 39
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| Post: #461 Posted: Thu Nov 25, 2010 12:26 am Post subject: hi casper |
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hi casper.. m also learning TA so will confirm with u any pattern or doubts.. coz surely wanna learn more...here r some of my searches..
Biocon Des Triangle BD has given but not much with enough vol, is it to be considered..
Gail also DES TRI formed BD at 483...
Just confirm if i m right or not.. also any suggestions... Thanks..
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casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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| Post: #462 Posted: Thu Nov 25, 2010 7:43 am Post subject: |
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| newinvestor wrote: | | What timeframe have you found most succesful for intraday trades? 60mins, 5 mins? |
60 min or 30 min tf. when u use higher tf u get more dependable signals less whipsaws
yesterday i traded with 10min tf but that's out of frustration. the day before yesterday, when gvk started moving the korean news came. i was using 60 min and had taken position but that conflict news made the market bearish suddenly and i got stuck. so out of frustration i thought lest try with lesser tf, other wise i always prefer higher tf
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casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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| Post: #463 Posted: Thu Nov 25, 2010 7:58 am Post subject: |
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| chetan83 wrote: | | newinvestor wrote: | | What timeframe have you found most succesful for intraday trades? 60mins, 5 mins? |
Casper Bhai,
To add on further to this question........pls share...which time frame along with the EMA's is beneficial; is it 60mins, 30mins, 15mins or 5 mins. Should the EMA's needs to be changed in different time frames??? |
when u use lesser tf u get less dependable but high in quantity signal, its ideal for scalper. once i was a sort of scalper,booked on every 1-2% move, such as buying at 100 booking at 102. in lesser tf u can not really trail ur stop because of higher volatility, at least i cant,
whereas with higher tf, u will get less in quantity but high in reliability signals. but while using higher tf u may not able to finish ur trade within intraday trades and even have to carry on holding the position over night if u want to get the full profit.
i never used ema cross over method very seriously so cant comment on that, but as far as ema is concerned, i use 89 and 34 to see possible support /resistance of the stock
i have found these emas are really tough to break and once broken, a good move can be expected
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casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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| Post: #464 Posted: Thu Nov 25, 2010 8:14 am Post subject: Re: hi casper |
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| vrushabh123 wrote: | hi casper.. m also learning TA so will confirm with u any pattern or doubts.. coz surely wanna learn more...here r some of my searches..
Biocon Des Triangle BD has given but not much with enough vol, is it to be considered..
Gail also DES TRI formed BD at 483...
Just confirm if i m right or not.. also any suggestions... Thanks.. |
yes u r right, both are descending triangle. but none of these have broken out in practical purpose and they have 89 ema just below the bd level so we need to be careful and can increase our short position only after breaching the 89 ema
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newinvestor
White Belt
Joined: 16 Feb 2010
Posts: 120
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| Post: #465 Posted: Thu Nov 25, 2010 9:13 am Post subject: |
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| casper wrote: | | newinvestor wrote: | | What timeframe have you found most succesful for intraday trades? 60mins, 5 mins? |
60 min or 30 min tf. when u use higher tf u get more dependable signals less whipsaws
yesterday i traded with 10min tf but that's out of frustration. the day before yesterday, when gvk started moving the korean news came. i was using 60 min and had taken position but that conflict news made the market bearish suddenly and i got stuck. so out of frustration i thought lest try with lesser tf, other wise i always prefer higher tf |
Thanks
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