iCharts Discussions

SwingTrader · Posted: Wed Aug 24, 2011 7:28 pm Post subject:

There are few other things that I look at to fine tune entries and anticipate reversals. I will discuss those later once everyone who is following this system is comfortable with the entries/exits etc. For now we will continue this for few days to keep things clear.

SwingTrader · Posted: Wed Aug 24, 2011 8:30 pm Post subject:

MTT Chart for NF (24.08.2011)

A. WMA was above SMA on HTF, on LTF we got a CCI long trigger at 10:20. ISL just below the short-term swing low. This trade got stopped out on a close below the ISL at 10:35.

B1. STS was OB on HTF, WMA close below SMA on LTF triggered a short reversal at 10:40. ISL was far above around 4962 (above the recent swing high)

B2. Regular short entry on LTF on CCI hitting +100 and then closing below 0. ISL was close around 4940 or so. 4940 also because TSL 1 for the reversal short.

C. Around 12 noon STS got OS on HTF indicating a possible reversal long. It triggered on 12:35 bar which also hit TSL of earlier trades. ISL for this trade was 4902, just below the recent swing low. This trade got stopped out few bars later.

D. Regular short entry as the trend was bearish on HTF. CCI hit +100 and closed below 0 at 13:15 triggering a short. ISL was just above the recent swing high around 4920. The SL got hit at 2:00 PM.

One can argue that STS on HTF was OB by this time (even though it had not hit 70 yet but was close).

E. Even if STS OB was not taken into consideration to keep rules strict, the trend on HTF turned bearish around 14:30. After this LTF we got a CCI short trigger (regular short trade) at 14:50. ISL was close around 4918 or so (just above the recent swing high). This trade had to be exited just before mkt close.

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

Dear ST,

As usual expected analysis..too good ..we will keep this for few more days so that every body will get the feel of system..

Embarassed

I missed second short trade of STS OB..

From tomorrow onward will post charts.. do not know how to addt plus-premium charts? how to copy..and save?

Regards,

JJM

SwingTrader · Posted: Wed Aug 24, 2011 10:02 pm Post subject:

guru.july · White Belt Joined: 13 Jul 2010 Posts: 82

Nice explanation ST sir. I took the first short and made 25 points profit. I was little confused between 12PM and 2PM as there were lot of whipsaws between WMA & EMA, and STS on HTF was OS. Expected a reversal upside but it never came.

Regards,
Guru

SwingTrader · Posted: Thu Aug 25, 2011 9:10 am Post subject:

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

Dear All

1st trade

Reversal one being STS OS, wma closed above sma ..stopped out as wma closed below sma

entry 4894..ISL : 4883..stopped out @ 4884

Stji as usual if any correction, suggestion

Regards,

JJM

guru.july · White Belt Joined: 13 Jul 2010 Posts: 82

SwingTrader · Posted: Thu Aug 25, 2011 10:31 am Post subject:

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

hyi jjm / ST Sir

I am also trying to understand this MTT system

i think the 9:59:59 candle in 5 minut timeframe had already hit SL of 4883

the cross over happened at 10:04:59 candle

am i correct ?? if possible can u please upload a chart on this???

regards,

varun Neutral

SwingTrader · Posted: Thu Aug 25, 2011 10:35 am Post subject:

The trend on 15 mins chart is now down since 10:30 as WMA crossed down below SMA. Now CCI crossovers on LTF (has to hit +100 and then close below 0) can be taken as short signals.

guru.july · White Belt Joined: 13 Jul 2010 Posts: 82

I shorted at 4875 after the cross.

SwingTrader · Posted: Thu Aug 25, 2011 10:38 am Post subject:

The downtrend could be in place now until S1. STS on 15 mins is going OS, still one short trade is probably there until price reaches around S1 (or between BEAR-S1). From BEAR-S1 there could be a bullish reversal.