iCharts Discussions

[shika]

This strategy gave me almost 500 points today in 3 trades
It is based on LL and LH and with fib levels.
LH 24290.00 on 11/8/17 at 12.14.59
LL 23950.05 on 11/8/17 at 14.9.59
on 12/8/17 it came almost close to 24290 but could not break it.
Today it should break 23950.05 to continue trend ,
Now my trades based on fib levels for 24290 - 23950.05
(24030.28, 24079.91 , 24120.03 ,24160.14 and 24209.77 and extension are
24370.23 , 24419.86, 24459.98, 24500.09 and 24549.72)
since it did not break LL I took a trade after 15tf candle close above 24160.14 ( I call it bull level ) with sl below 24110 for tgt of 24419 , second trade around24424 for 24290 with sl above 24470 and sl for third trade 24199. now next long 15tf close above 24420 (yet to take )
I just explained in writing as I cannot post charts as I have no knowledge about posting it here.
best of luck

shika (ays)

[chetan83]

[shika]

Chetan , good question
Had it broken LL 23956.1, it should have given atleast another 218 points,( had it stayed for two 15tf candles ) now suppose after breaking it, if two 15tf candles stay above it, then it becomes a buy for me for a target of 24071 to 24091.
But my trades go in different way altogether some lots for positional and some for intra ,only a few I mention in sb that to intra trades when time permits.
I trade on different setups, today below 24106 sell with stop around 24177 for 23955 and 23925-945 level was a buy for me with stop below 23885 for 24054 and again sell around 24086 to 96 with stop around 24141 for quick 60 to 70 points intra and got all trades right, but could not take any trade after 12.30 today.
Anyone trading a single scrip or index can definitely gain confidence in trading in that particular one.
All the best
shika(ays)

[anusantosh]

Interesting...

[chetan83]

BTW, what are the other 4 strategies, out of 5???

[shika]

Mr. Chetan
Will reveal in future, but now I can give you some clues to get into the trading of bank nifty futures
I trade mostly based on ranges , HH HL LH LL , volumes at important points( levels ) and fibonacci levels
I keep EOD, hourly, 15min, 5min and 1min charts with BB20 and one EMA ( that’s a secret, which gives turning points for market for intra as well as for positional, if possible you try ) and I keep that EMA only in hourly and 1min charts.
One more clue for turning points one example,you can check the charts from 28/7/17 to 8/8/17 and the turning point was on 8/8/17 which coincided with my levels to be precise 24145-155, there I took a short positional trade with stop above 25137 and next day bought puts at opening bell on 9/8/17.
I just trade and watch only bank nifty futures charts and avoid maximum looking at sb ( may be right or not )
All the best
Shika (ays)

[chetan83]

[ssbalamurugan]

Good Strategy.Keep it up.

[AMBY]

Thanks.