iCharts Discussions

SwingTrader · Posted: Thu Sep 23, 2010 10:05 am Post subject:

NF consolidating below 89 EMA and BEAR level....currently in BEAR-S1 band. Clear cut stuff....a break below S1 will continue & accelerate the intraday downtrend. A break above bear will put NF in sideways mode.

Bullish moves now possible only on a break above 89 EMA & LOC.

dilesh · White Belt Joined: 09 Aug 2008 Posts: 73

Hi ST Sir,
GM.. Had a query regarding the reversal trades from BEAR - S1 Band. Can AXISBANK stand for a reversal if now it comes above BEAR and takes support for 2-3 bars or that the first 5 min bar indicates negative?

Regards,
Dilesh

SwingTrader · Posted: Fri Sep 24, 2010 9:25 am Post subject:

dazling · White Belt Joined: 18 Sep 2010 Posts: 1

SwingTrader · Posted: Fri Sep 24, 2010 9:49 am Post subject:

dazling,

Yes, ORCHIDCHEM is a buy above 210 with SL below LOC (207.65).

dilesh · White Belt Joined: 09 Aug 2008 Posts: 73

SwingTrader · Posted: Fri Sep 24, 2010 8:11 pm Post subject:

Super day today....on such days not much analysis is necessary...on such trending days absolutely any decent trending strategy will work. DMI, MACD, TRIX you name it will give decent trades. The problem days are the range days or not-so-trending days.

This morning the first trade in NF was the strong break to the upside from LOC also breaking the 89 EMA with it - an iCharts level signal to those who have followed my old examples in other threads. After that it was auto pilot as no bearish signal was given by iCharts levels. MACD did give a sell signal which had to be ignored according to the rules discussed earlier as 89 EMA was just below the broken level after MACD sell signal. Even if this sell/short was taken it would have got negated quickly and would have had to be reversed to long.

There were no trades after that first long in the morning, only stops were required to be trailed until the position would be closed just before market closed.

SwingTrader · Posted: Mon Sep 27, 2010 9:17 am Post subject:

NF has opened in BULL-R1 band. As long as it stays above BULL we could see higher prices once it breaks above R1. A break below BULL can take NF easily to BEAR-R1 band/89 EMA.

jjm · White Belt Joined: 17 Mar 2010 Posts: 411

Dear ST

One Doubt..

attached a chart of Axis_1M .Macd gave a sell signal but price did not move out of band Bull LOC and 34 EMA was just below price..hence did not short...

But price crossed in opposite direction and currently it is in R1 Bull band...in such case can we short if it once again drops in BULL LOC band

As earlier sell signal given by MACD still active..

Regards

JJM

jjm · White Belt Joined: 17 Mar 2010 Posts: 411

Dear ST

Another doubt..

Some times candle closes from one band into another band and the same time we get buy/sell signal from MACD..

shld we wait for nt candles to move out of existing band or we can take position ..

I am trading stocks based on your system hence it happen many time

Regards,

JJM

SwingTrader · Posted: Mon Sep 27, 2010 2:03 pm Post subject:

SwingTrader · Posted: Mon Sep 27, 2010 2:04 pm Post subject:

jjm · White Belt Joined: 17 Mar 2010 Posts: 411

Dear ST

Thanks

Very Happy

Regards,

JJM