07-01-12 12:47	rvg	open yesbank-1m in live charts
07-01-12 12:48	rvg	mayur .. i am explaining 8ema hilo now with yesbank as example
07-01-12 12:48	rvg	open yesbank-1m in livecharts
07-01-12 12:49	rvg	use the timeframe as hourly
07-01-12 12:49	rvg	plot 8ema,low and 8ema,high
07-01-12 12:49	rvg	when chart is open .. pls let me know
07-01-12 12:49	rvg	use 15 days data timeframe 60 min
07-01-12 12:51	rvg	suppressemotion : most recent low was 232 on Jan 2
07-01-12 12:51	rvg	what was the nearest high above 8ema,high before Jan 2
07-01-12 12:52	rvg	most recent high was 242 @ 10:00 am on Jan/2
07-01-12 12:53	rvg	see the 10:00am bar on Jan/2 did pierce 8 ema,high
07-01-12 12:53	rvg	that becomes your reversal pivot
07-01-12 12:54	rvg	assuming you are still short on Jan 2 @ 232 you reverse your short to long position on price crossing 242 + .25 paise filter
07-01-12 12:54	rvg	which happened on Jan 3 2pm candle
07-01-12 12:55	rvg	on trade reversal, your pivot changes to most recent low below 8ema,low
07-01-12 12:56	rvg	in this case the pivot becomes the 10:00 am candle of Jan/3 price being 234.30 - 20 paise
07-01-12 12:56	rvg	continue shifting the pivot for every new high made
07-01-12 12:56	rvg	currently most recent high is 252.50 of Jan 6
07-01-12 12:57	rvg	and reversal pivot is 243.10 - 20 paise
07-01-12 12:58	rvg	suppressemotion : n pivot is 242.30 >> no next 2 candles are also piercing
07-01-12 12:58	rvg	try this on hourly and also 15 minute ... works very well for swings
07-01-12 12:59	rvg	only caveat.. hourly and 15 min trend must be in same direction or else whipsaw :duh:
07-01-12 13:01	rvg	suppressemotion : ok so take trade on 15 min as per trend of 60 min >> yes.. stops on 15 min are closer
07-01-12 13:04	rvg	but identifying reversal pivots is very easy and simple
07-01-12 13:05	rvg	no confusion and best part no lower indicators :hehe:
18-01-12 12:54	rvg	following rules to be remembered when using ema hilo
18-01-12 12:55	rvg	1. When price crosses and closes above low ema from below ; tgt high ema
18-01-12 12:55	rvg	2. when price crosses and closes above high ema from below ; momentum is bullish
18-01-12 12:55	rvg	3. when price crosses and closes below high ema from above ; tgt low ema
18-01-12 12:55	rvg	4. when price crosses and closes below low ema from above ; momentum is bearish