iCharts Discussions

[kanna]

Dear fellow Traders

Daily in SB (Shout Box) lot of knowledge is being shared. and it is getting unnoticed by lot of us if we are not there at that time. May be not everyone of us download the archieve and read it.

Hence just thought of starting this thread. Anybody can add the topic which was discussed in SB which you feel is worthy to share.

Today Seshareddy sir was saying about this.

one very simple point i can tell when mkt trading below of yday low no sup will stop the mkt or if mkt trades above yday high no res will stop the rally

basic problem of moves are with prev candle high or low

traders beliefs are yday low or high

if up open we have to c whether yday high became as sup or not

if down open we have to c whether yday low sup or restricted

if flat open we have to keep eye on yday high or low

Hope it is useful.

[casper]

hi kanna.
nice initiative by u
thanks a lot

[kanna]

goritos : how to make money using icharts

mayurnsk : by using them

mayurnsk : using them by watching

mayurnsk : but taking decision by throwing your mind away

[Ravi_S]

SeshaReddy sir, I'm working on a breakout system taking into consideration the break of previous high/low... Can you elaborate on this... I'm not very clear on what you posted... Maybe someone who understood can reply too...

Thanks in advance...

I Miss SHOUT BOX....

Ravi...

[mariner]

kanna great job....u started this thread..I hope everyone will be benefited from this thread.

[neemtree]

Kanna, appreciate your idea starting this kinda thread.

[girishhu1]

[seshareddy]

hi kanna

nice thread you choosen

from today onwards i make a habit to c this link

it will useful for all reason emotions tech details will come out when live mkt going on

seshareddy

[seshareddy]

hi ravi

just iam seeing this link


if any day mkt up open we have to keep eagly eye on prev day high must

if mkt not trading below open or prev day high we should not short

prev day high is the best sup for the market

all shorts sl gone so breakout buy

same reverse if mkt opened down gap open

you can check back test

seshareddy

[kanna]

dear sesha sir

thanks for your previous day high low concept. i did some back testing on that day night and around 80% of the time this support holds. On friday i went long at open with stop as candle close in 5tf than previous low. it was saved and just held the longs booked the longs at 90 pts profit.



and thanks for everyone for the kind words.

girish, thank u for capturing this between sesha and sanchi.

Sesha sir, as you told , when SAR is changing very fast the target will be the SAR in next hgher tf. great one. and 5901 is sar in 30min. your observations are just great

[seshareddy]

hi kanna

we can enjoy the perfect gains while sharing the knowledge only

while argument going on we dontknow about our own errors

so we should share knowldge and we need to get best questions then only we can tune each together all methods

this is not a competition business

any how iam happy that you backtested do trading

seshareddy

[hedger]

Dear All,

It is really impressive and great going for all of us here in I-Charts. I must say the style and presentation given by all in various threads(newbee, junior and seniors) are mind blowing for all newcomers.
It is really a great initiative and hard work taken to help each other to learn and earn.
I hope some days I-Charts may be listed in Indian Stock market.
Thanks to the moderators & Srikanth sir as well.
May god bless you all.

[mariner]

opening trade explanition by shesha sir
seshareddy : open 3 types 1.open above yday high 2.open below yday low 3. flat
seshareddy : 1.if mkt opened above yday high means yday high is act as sup if not broken mkt up only
seshareddy : 2.if opened below ydy low means yday low act as good res if not broken down only
seshareddy : 3.flat open needs yday candle if green yday low will give intra buy if red candle yday high will give intra sell

simple and basic points for 1st intra trade

[seshareddy]

hi all

we can use one more small basic point take 3days SPOT eod if mkt closed above 3days high then icharts levels S1 acts good buy every time

if mkt closed below 3days low then icharts levels R1 acts as good sell every time

keeping in view of prev day high or low

seshareddy

[kanna]

sesha sir, it is a very good point. thanks

little busy. not able to be in SB to pick up more. request others to post