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Fibo 15 Support Resistance Intraday |
cliff23
White Belt
Joined: 18 Mar 2013
Posts: 60
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Post: #436  Posted: Tue Jun 18, 2013 4:32 pm Post subject: |
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| twist wrote: | | cliff23 wrote: | Hi Twist,
I was just going through your forum and am very impressed.I will try and use your approach.Just wanted to ask a few questions,when you say the first 15 min candle is it the 9.15 to 9.30 candle and secondly should i use the daily levels or weekly levels or combine both for positional trades.
Thanks and God bless |
Hi Cliff yes we take 9:15 to 9:30 candle high low values for positional trades u can backtest daily/weekly levels and select whichever works for you
Thanks
Regards
Twist. |
Thank you for your prompt reply and sorry for my delayed response.I have been following your levels since two days and was amazed at is accuracy.There were some things i wanted to ask you.First of all is it necessary to to take the first 15 min high low for intra-day or can we trade with daily levels also.Another thing is when price goes above or below the mid point of intra-day levels does that show the trend for that day and if the price is above/below weekly or monthly mid points does that show the mid term trends.I have lost a lot of money in intra-day and am a little scared hence want to understand your method thoroughly.If you have any extra inputs to give I would be more than happy to learn
Thanks and Regards
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taruj
White Belt
Joined: 20 Apr 2011
Posts: 260
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| Post: #437 Posted: Tue Jun 18, 2013 4:48 pm Post subject: |
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| cliff23 wrote: | | twist wrote: | | cliff23 wrote: | Hi Twist,
I was just going through your forum and am very impressed.I will try and use your approach.Just wanted to ask a few questions,when you say the first 15 min candle is it the 9.15 to 9.30 candle and secondly should i use the daily levels or weekly levels or combine both for positional trades.
Thanks and God bless |
Hi Cliff yes we take 9:15 to 9:30 candle high low values for positional trades u can backtest daily/weekly levels and select whichever works for you
Thanks
Regards
Twist. |
Thank you for your prompt reply and sorry for my delayed response.I have been following your levels since two days and was amazed at is accuracy.There were some things i wanted to ask you.First of all is it necessary to to take the first 15 min high low for intra-day or can we trade with daily levels also.Another thing is when price goes above or below the mid point of intra-day levels does that show the trend for that day and if the price is above/below weekly or monthly mid points does that show the mid term trends.I have lost a lot of money in intra-day and am a little scared hence want to understand your method thoroughly.If you have any extra inputs to give I would be more than happy to learn
Thanks and Regards |
Hi Cliff,
You want to trade. you need a few things in your basket:
1. Direction of the trend. Up Down. Rather than using the Mid point use something even more basic. Use some ema crossover etc. Their are various indicators like MACD, RSI etc that can help.
2. Stop loss: Assuming you have taken a LONG position and the price is above the S1 you can keep S2 as SL. Price is above Midpoint, Keep S1 as SL. so on.. you can also keep day high or day low depending on Long/Short
3. Target: that's what these levels are for.
Counter-Trend trade using these levels is, price moves up from Midpoint to R1. you could short at R1 keeping R2 as SL and Midpoint as TG S1 as second target etc.
See the two charts I had posted yesterday. there are lots of charts in this forum.. See the ones that twist had posted...
This question was for twist. sorry for butting in.  Just trying to clear out my doubts as well.
Twist: please respond, when you have time.
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dhdaarya
White Belt
Joined: 13 Apr 2012
Posts: 38
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taruj
White Belt
Joined: 20 Apr 2011
Posts: 260
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| Post: #439 Posted: Tue Jun 18, 2013 5:31 pm Post subject: |
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| dhdaarya wrote: | hello guys posting chart of bank nifty with 1 min tf using 15 min high low as reference levels.
those who are new to the topic may get some help with it 
twist bhai its really helping........
also i want add something with my little experience that one should stick to the plan in order to have success in the mkt. Don't keep changing the systems becoz it won't help unless and until you hav faith in yourself. Use these levels and ref. as guidelines to your system and make most of it. |
AWESOMEEEEE!!! 
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twist
Joined: 12 Feb 2010
Posts: 333
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| Post: #440 Posted: Tue Jun 18, 2013 5:45 pm Post subject: |
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| cliff23 wrote: |
Thank you for your prompt reply and sorry for my delayed response.I have been following your levels since two days and was amazed at is accuracy.There were some things i wanted to ask you.First of all is it necessary to to take the first 15 min high low for intra-day or can we trade with daily levels also.
for intraday we use 15min values you can also use daily levels but the gap between s/r levels will be big and will become difficult to trade
Another thing is when price goes above or below the mid point of intra-day levels does that show the trend for that day and if the price is above/below weekly or monthly mid points does that show the mid term trends.
midpoint cant be used as standalone u will have to use it in combination of your intra/swing trading system to decide trend
I have lost a lot of money in intra-day and am a little scared hence want to understand your method thoroughly.If you have any extra inputs to give I would be more than happy to learn
Dear Cliff if you are not able to handle intraday trading i will suggest you stop trading for a month and only backtest/forward test these levels during mkt hours along with your trading system.
Thanks and Regards |
my answers are in bold
rest everything is explained by Taruj perfectly best of luck
Regards
Twist.
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twist
Joined: 12 Feb 2010
Posts: 333
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| Post: #441 Posted: Tue Jun 18, 2013 5:47 pm Post subject: |
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| taruj wrote: |
Hi Cliff,
You want to trade. you need a few things in your basket:
1. Direction of the trend. Up Down. Rather than using the Mid point use something even more basic. Use some ema crossover etc. Their are various indicators like MACD, RSI etc that can help.
2. Stop loss: Assuming you have taken a LONG position and the price is above the S1 you can keep S2 as SL. Price is above Midpoint, Keep S1 as SL. so on.. you can also keep day high or day low depending on Long/Short
3. Target: that's what these levels are for.
Counter-Trend trade using these levels is, price moves up from Midpoint to R1. you could short at R1 keeping R2 as SL and Midpoint as TG S1 as second target etc.
See the two charts I had posted yesterday. there are lots of charts in this forum.. See the ones that twist had posted...
This question was for twist. sorry for butting in. Just trying to clear out my doubts as well.
Twist: please respond, when you have time. |
Taruj sir perfect 
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twist
Joined: 12 Feb 2010
Posts: 333
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| Post: #442 Posted: Tue Jun 18, 2013 6:10 pm Post subject: |
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| dhdaarya wrote: | hello guys posting chart of bank nifty with 1 min tf using 15 min high low as reference levels.
those who are new to the topic may get some help with it
twist bhai its really helping........
also i want add something with my little experience that one should stick to the plan in order to have success in the mkt. Don't keep changing the systems becoz it won't help unless and until you hav faith in yourself. Use these levels and ref. as guidelines to your system and make most of it. |
Dear DH Taruj thanks to u guys and all other Fibo15 users for contributing their knowledge in this thread
@bold part:- DH your understanding of levels is correct and thats what i have been saying that this is not a buy/sell system and it should be used as an addon to our trading system 
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cliff23
White Belt
Joined: 18 Mar 2013
Posts: 60
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| Post: #443 Posted: Tue Jun 18, 2013 8:26 pm Post subject: |
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Hi
Twist,Taruj,Ddharya thank you all for your help.I will take your advice and search for a good system to help me use these levels and the most important thing is that i stick to the plan.Thank you once again
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twist
Joined: 12 Feb 2010
Posts: 333
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| Post: #444 Posted: Wed Jun 19, 2013 9:29 am Post subject: |
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Todays S/R Levels for Nifty Future
Upper 261: 5823.0
Upper 161: 5810.0
Midpoint : 5795.7
Lower 161: 5781.3
Lower 261: 5768.4
15min High 5802.15 Low 5789.20
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taruj
White Belt
Joined: 20 Apr 2011
Posts: 260
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| Post: #445 Posted: Wed Jun 19, 2013 9:34 am Post subject: |
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BNF Levels:
BANKNIFTY -1M
TF 15TF
HIGH 11816
LOW 11770
R4 11964
R3 11918
R2 11890
R1 11844
MidPoint 11793
S1 11742
S2 11696
S3 11668
S4 11622
Short @11801 with day high as SL and S1 as target. High possibility of Day High retest. keep filter 5-10 pts. R:R ~1:4.5 [15:68] lets see what happens 
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Dutt
White Belt
Joined: 01 Nov 2010
Posts: 118
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| Post: #446 Posted: Wed Jun 19, 2013 10:43 am Post subject: Nifty June series |
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twist
Joined: 12 Feb 2010
Posts: 333
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| Post: #447 Posted: Wed Jun 19, 2013 10:49 am Post subject: |
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| taruj wrote: |
Short @11801 with day high as SL and S1 as target. High possibility of Day High retest. keep filter 5-10 pts. R:R ~1:4.5 [15:68] lets see what happens |
s1 se palti.com
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taruj
White Belt
Joined: 20 Apr 2011
Posts: 260
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| Post: #448 Posted: Wed Jun 19, 2013 11:13 am Post subject: |
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| twist wrote: | | taruj wrote: |
Short @11801 with day high as SL and S1 as target. High possibility of Day High retest. keep filter 5-10 pts. R:R ~1:4.5 [15:68] lets see what happens |
s1 se palti.com |
YEPSS...
Contra Trade bhi dekhna padega. after 96 trades
twistonacci levels ROCK!! 
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taruj
White Belt
Joined: 20 Apr 2011
Posts: 260
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| Post: #449 Posted: Wed Jun 19, 2013 11:14 am Post subject: Re: Nifty June series |
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| Dutt wrote: | |
Thanks for the levels Mr. Dutt!!
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taruj
White Belt
Joined: 20 Apr 2011
Posts: 260
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| Post: #450 Posted: Wed Jun 19, 2013 4:33 pm Post subject: |
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| taruj wrote: | BNF Levels:
BANKNIFTY -1M
TF 15TF
HIGH 11816
LOW 11770
R4 11964
R3 11918
R2 11890
R1 11844
MidPoint 11793
S1 11742
S2 11696
S3 11668
S4 11622
Short @11801 with day high as SL and S1 as target. High possibility of Day High retest. keep filter 5-10 pts. R:R ~1:4.5 [15:68] lets see what happens |
Update at 4:32: made 100 pts very stressfull. first two trades were good. still researching MACD settings for 15 TF. Using 5/21 EMA Crossover with MACD Confirmation.
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