iCharts Discussions

SwingTrader · Posted: Tue Apr 14, 2009 8:20 pm Post subject: NF Trading Levels for 15.04.2009

NF Trading Levels for 15.04.2009

R5 3427.38
R4 3410.34
R3 3404.44
R2 3393.30
R1 3389.28
BULL 3382.77
LOC 3374.25
BEAR 3365.73
S1 3359.22
S2 3355.20
S3 3344.06
S4 3338.16
S5 3321.12

SwingTrader · Posted: Wed Apr 15, 2009 2:36 pm Post subject: Update

Today was a day of mishaps. First we had a technical issue with one of our servers and second I made an error in the levels.

Even though my levels were valid today, they were more or less meaningless due to two reasons: one, the move today was huge and two, I made a small mistake during computing the levels.

If you observe the difference between R1 & R2, S1 & S2, R3 & R4, S3 & S4 is so small (4-6 pts), that it is meaningless. I have been refining the levels a bit and this is a result of those changes.

For the above reasons I did not post further levels - R6 & R7 - after R5 got hit around 11:15 itself.

Sorry about this, I will re-check 2-3 times from now before I post the levels Smile

SwingTrader · Posted: Wed Apr 15, 2009 3:51 pm Post subject: Followup

The following mess is due to a mistake I made during computation of the levels.

Clarification: the levels were still valid but not sufficient. As I said earlier, I will double check from now when posting the levels so such mistakes don't happen again.

RKM · White Belt Joined: 06 Apr 2009 Posts: 137

Dear SwingTrader,

We all make mistakes. What is important is to realise it and try not to do the same thing again. Easier said than done though where trading is concerned and the market just bashes you all around the place everytime you think now you've got it right.

So take heart and keep up the good work.

Cheers,
Makhijani