iCharts Discussions

SwingTrader · Posted: Thu Aug 25, 2011 11:29 am Post subject:

Varun,

Yes, I avoid reversals only if there is a gap up/down as gaps tend to distort indicators for a while.

SwingTrader · Posted: Thu Aug 25, 2011 12:18 pm Post subject:

Long reversal trade triggered on close of 12:05 bar. STS on HTF was oversold, then on LTF we got WMA & SMA crossover at 12:05 triggering the long trade. ISL is far (below day's low) around 4836. I prefer to move the stop to just below the 12:05 bar as it is a short-term support now.

SwingTrader · Posted: Thu Aug 25, 2011 12:46 pm Post subject:

NF at 34 EMA on HTF and 89 EMA on LTF....watchout...keep close stops...since we do not have close swing lows on LTF one can probably keep TSLs just below 15 min bar lows (current or previous one....based on how much profit you want to let go). Above these hurdles we test BULL-R1 which is a major resistance.

SwingTrader · Posted: Thu Aug 25, 2011 12:56 pm Post subject:

STS on HTF now OB, NF nearing BULL-R1. Tighten stops as I said before, we are nearing bearish reversal area....just watch, not time to react yet. Just be aware...

Today is expiry day, we have two very good trades so it would be a good idea to play safe from now on as it gets tricky from here until market closes. Grab & protect profits.

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

Dear all

Today's trade are discussed in details by ST in thread

Still if anybody is having any doubt...you know whom is to be looked up on Very Happy

New rule addition :

For regular trade :- we wait for CCI to retrace in LTF i.e. CCI cross +100 and goes below 0..however this may take longer time addition to this if candle is run way candle/ market is in strong trend then we will miss the right entry... (I think this trick of early entry one should take after getting complete hold of MTM system..or simply go by rules...it is not the end of world.. today was the first case... And I want mkt to do all these so we will get the best out of MTM

I was not knowing this .. experience will teach..

II Rule : Importance of I chart levels along with keyEMA 34, 89 for profit booking or trailing SL

: STji - Noted your illustration and timely guidance

Thanks once again , Happy trading

JJM

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

Dear STji,

Thanks for those links

My first try..editing and drawing will try in next chart

JJM

SwingTrader · Posted: Thu Aug 25, 2011 10:00 pm Post subject:

Sorry, won't be posting the chart today. If anybody has any doubts please let me know and I will try and post the chart tomm.

SwingTrader · Posted: Fri Aug 26, 2011 10:10 am Post subject:

There were two possible entries today, one regular and one early optional entry I talked about yesterday.

First, STS on HTF was OS yesterday at mkt close and we did not gap up/down today so STS OS could be considered for reversal. On LTF WMA crossed above LTF at close of 9:25 bar. This was the long reversal trigger. The ISL for long is abound 4839 just below the swing low.

Second, on HTF the trend turned bullish after close of 9:45 bar. Swing high (also today's high) was broken on LTF at close of 10:00 bar. This was the early entry. This is just for indicating it...avoid trading this for now until we discuss it in detail later.

varun_alld · White Belt Joined: 14 Dec 2009 Posts: 25

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

Dear Stji,

How much pt one should consider for GAP Up/down opening..

STS was Os..due to y'days experience did not long at LTF based on + cross over of WMA and SMA..

wallbash

However the y'days short trade is still fresh in mind ...so took long and booked for 30 pts
yahoo

Thanks

JJM

SwingTrader · Posted: Fri Aug 26, 2011 10:56 am Post subject:

SwingTrader · Posted: Fri Aug 26, 2011 10:59 am Post subject:

varun_alld · White Belt Joined: 14 Dec 2009 Posts: 25

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

Looking for long entry in LTF ..bar yet to close above WMA and SMA

LOC @ 50 Sl for this will be just below recent swing low

STji will this be right as per rules..CCI went below - 100 and crossed 0

Regards,

JJM

SwingTrader · Posted: Fri Aug 26, 2011 11:07 am Post subject: