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READING THE LINE [DAY TRADERS MIND] - FUTURES ONLY |
amitagg
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Joined: 01 Oct 2013
Posts: 4559
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Post: #1006  Posted: Fri Oct 03, 2014 11:11 pm Post subject: |
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| amitagg wrote: | | Book profit at 5560 sold at 5583 hr or so back.... |
Booked since gap possible.... Plus it can be 4 th "sideways " also of 1 of 5 th from 6500...... Since 2nd from 5651 to 5755 was sharper.
Keep selling at 5583 -5620-5640 region till 5525 hits...or circumstances change which we shall know |
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amitagg
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Joined: 01 Oct 2013
Posts: 4559
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| Post: #1007 Posted: Mon Oct 06, 2014 8:24 pm Post subject: |
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| amitagg wrote: | Min target for this wave from 5775 is 5522... Hence shorted at 5583 now...... Could not short the breakdown from low of today few hrs back due to dussehra celeb.
Will short another at 5630-5640 levels if rises there......
Target 5460/5390
Going by the view posted few days back that below 5620 another shorting opportunities shall arise
Also broken diamond formation and retrace in faster time suggesting bear leg in progress .... Final 5 th from 5885
Only in case of c wave failure would it stall above 5525 otherwise has has to go down..... As per ew |
Shorted 5553 covered 5528.......
Now 5490..... More to go likely 5423/5460  stop only 5680
Fresh entry on 3 wave rise only |
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amitagg
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Posts: 4559
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| Post: #1008 Posted: Tue Oct 07, 2014 12:16 am Post subject: |
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| amitagg wrote: | | amitagg wrote: | Min target for this wave from 5775 is 5522... Hence shorted at 5583 now...... Could not short the breakdown from low of today few hrs back due to dussehra celeb.
Will short another at 5630-5640 levels if rises there......
Target 5460/5390
Going by the view posted few days back that below 5620 another shorting opportunities shall arise
Also broken diamond formation and retrace in faster time suggesting bear leg in progress .... Final 5 th from 5885
Only in case of c wave failure would it stall above 5525 otherwise has has to go down..... As per ew |
Shorted 5553 covered 5528.......
Now 5490..... More to go likely 5423/5460 stop only 5680
Fresh entry on 3 wave rise only |
and it expectedly rose to 5569 after posting.....now selling at 5791/5610/5630 region....preferably 5610/5630
in fact crossing 5558 after opening and moving lower IF it happens tomorrow may mean 'buy' (risky) above 5558 strictly for intra day / hrs for target 5578/82...... |
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amitagg
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Posts: 4559
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| Post: #1009 Posted: Tue Oct 07, 2014 4:42 pm Post subject: |
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Today I exited my nifty shorts at profit at closing, taken few " weeks" back at 7950-8070 levels in 2 tranches
Expect either a vertical fall below 7840 levels sustaining for a day or two.......
Or consolidation before final down distribution and breakdown between 7840-8150...... Yes 8030-8150 is a possibility
Before down target of 7200/ 7500 in next 3 months. |
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amitagg
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Posts: 4559
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| Post: #1010 Posted: Wed Oct 08, 2014 2:06 pm Post subject: |
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Ew Target of 5390 nearly met .......so "bought" nov futures at 5395 today....shall add on dips ... Not placing a stop and shall see closing prices.....target 5475/5520/5585
| amitagg wrote: | Min target for this wave from 5775 is 5522... Hence shorted at 5583 now...... Could not short the breakdown from low of today few hrs back due to dussehra celeb.
Will short another at 5630-5640 levels if rises there......
Target 5460/5390
Going by the view posted few days back that below 5620 another shorting opportunities shall arise
Also broken diamond formation and retrace in faster time suggesting bear leg in progress .... Final 5 th from 5885
Only in case of c wave failure would it stall above 5525 otherwise has has to go down..... As per ew |
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amitagg
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Joined: 01 Oct 2013
Posts: 4559
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| Post: #1011 Posted: Wed Oct 08, 2014 8:34 pm Post subject: |
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| amitagg wrote: | Ew Target of 5390 nearly met .......so "bought" nov futures at 5395 today....shall add on dips ... Not placing a stop and shall see closing prices.....target 5475/5520/5585
doubled at 5350 ...average 5375
| amitagg wrote: | Min target for this wave from 5775 is 5522... Hence shorted at 5583 now...... Could not short the breakdown from low of today few hrs back due to dussehra celeb.
Will short another at 5630-5640 levels if rises there......
Target 5460/5390
Going by the view posted few days back that below 5620 another shorting opportunities shall arise
Also broken diamond formation and retrace in faster time suggesting bear leg in progress .... Final 5 th from 5885
Only in case of c wave failure would it stall above 5525 otherwise has has to go down..... As per ew |
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amitagg
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Posts: 4559
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| Post: #1012 Posted: Wed Oct 08, 2014 9:05 pm Post subject: |
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booked profit at 5390 on double just now....
| amitagg wrote: | | amitagg wrote: | Ew Target of 5390 nearly met .......so "bought" nov futures at 5395 today....shall add on dips ... Not placing a stop and shall see closing prices.....target 5475/5520/5585
doubled at 5350 ...average 5375
| amitagg wrote: | Min target for this wave from 5775 is 5522... Hence shorted at 5583 now...... Could not short the breakdown from low of today few hrs back due to dussehra celeb.
Will short another at 5630-5640 levels if rises there......
Target 5460/5390
Going by the view posted few days back that below 5620 another shorting opportunities shall arise
Also broken diamond formation and retrace in faster time suggesting bear leg in progress .... Final 5 th from 5885
Only in case of c wave failure would it stall above 5525 otherwise has has to go down..... As per ew |
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amitagg
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| Post: #1013 Posted: Wed Oct 08, 2014 9:09 pm Post subject: |
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while i have been posting just nos....they are TA based only.....
like 5390 is trendline resistance from 5857...
it broke trrendline from 5419 today....which happened after 5 waves...and completed inverted H&S at 5665 where also i added long......
now watching IF we have 5 wave advance if yes.....then again shall buy the "decline".....or EW retrace,,,, |
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amitagg
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Posts: 4559
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| Post: #1014 Posted: Wed Oct 08, 2014 9:14 pm Post subject: |
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| amitagg wrote: | while i have been posting just nos....they are TA based only.....
like 5390 is trendline resistance from 5857...
it broke trrendline from 5419 today....which happened after 5 waves...and completed inverted H&S at 5665 where also i added long......
now watching IF we have 5 wave advance if yes.....then again shall buy the "decline".....or EW retrace,,,, |
also noticeable that price moves often ...after my stated position.....now 5367 down from 5390......
so one should look to buy/sell on EW counts.....current there is 3 wave advance form 5333...if 5390 taken out before 5345 i would expect 5333 to hold and 5460 tocuhed.......to refine target precisely though later........
so next trade is planned in advance purely based on EW......again shall buy the retrace if and when 5390 is taken out on long side....... |
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amitagg
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| Post: #1015 Posted: Wed Oct 08, 2014 9:27 pm Post subject: |
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crude shall show "bullish" behaviour for next few day or two........i dont trade in late evening if earlier intra days are profitable.....
CMP 5387.....look like it shall cross 5390 and head towards 5460.....
i shall decide on buy move tomorrow....after watching price action.
just done 5393....those interested can still buy....[ if watch sideways moves between 5395-5415.....] |
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amitagg
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Posts: 4559
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| Post: #1016 Posted: Wed Oct 08, 2014 9:46 pm Post subject: |
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| amitagg wrote: | crude shall show "bullish" behaviour for next few day or two........i dont trade in late evening if earlier intra days are profitable.....
CMP 5387.....look like it shall cross 5390 and head towards 5460.....
i shall decide on buy move tomorrow....after watching price action.
just done 5393....those interested can still buy....[ if watch sideways moves between 5395-5415.....] |
5395 now and has broken the down trendline - "sustaining above" shall hit 5418/5440/5453 later today or tomorrow (unless gap down due to global) |
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amitagg
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Posts: 4559
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| Post: #1017 Posted: Thu Oct 09, 2014 9:21 am Post subject: |
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Mikky
Buy today NOV one lot at 5349 and other at 5335 and another at 5316..... And wait till it gives profit.......target 5363 for 2 and 5388 for other ( try to book on average 20 points profit per day)
It is bottom of cycle so don't worry if it hits 5280..... But again.....
( now this is not trading style..... I want to trade with " full confidence" in my ew sit-ups...... So this type of buying lower and lower behaviour is NOT suited 80-90 percent of time BUT these days it is not that time)
Nymex has hit 87 ... My target few weeks back given....
It shall still hit 85 meaning 120 points down ..... But expecting ew pullback suggesting buying only at these levels.... Even sideways moves has give profit
Like yesterday I averaged and profited...... It is 5 of 5 wave and may be stil 1 with downside left
Inr is often a maker or spoiler
Expect range bound moves from 5280-5420 now for few days or higher but not lower .... So buy lower ranges and avoid selling when other TA a would be suggesting a sell
Booking early losses in crude is detrimental.... Rather keep trading lots very thin
This is in advance of market opening and seeing price action
I anticipate my steps and can change those steps seeing market action eg u can see my post and chart how inverted hs formed above 5365 after 5 waves yesterday and " immediately" it hit 5391
However during morning afternoon I do not see actual price charts with indicators just a price line.....In evening I can predict infra day moves much better
( I can give set ups and entries but exit have to be " extremely swift" and to make sure each day is profit) |
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amitagg
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Joined: 01 Oct 2013
Posts: 4559
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| Post: #1018 Posted: Thu Oct 09, 2014 12:15 pm Post subject: |
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5th wave of ABC of C can hit 85.1 (A=C)
extended C can hit 81 after a retrace over few weeks/ month. [ i am not basing my trade decisions on this possibility]
so some more downside left before positional rise...........
current 87.5 (5350). Take decisions accordingly.
I am sticking to my trading plan for today, since intra day / 2-3 days plan. |
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amitagg
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Posts: 4559
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| Post: #1019 Posted: Thu Oct 09, 2014 2:18 pm Post subject: |
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| amitagg wrote: | 5th wave of ABC of C can hit 85.1 (A=C)
extended C can hit 81 after a retrace over few weeks/ month. [ i am not basing my trade decisions on this possibility]
so some more downside left before positional rise...........
current 87.5 (5350). Take decisions accordingly.
I am sticking to my trading plan for today, since intra day / 2-3 days plan. |
So I had added 2 at 5335 and 5338 and have squared all at 5355 now for 20 pointer for the day on 2 lots( resistance is 5364/5373/5391)
Now placed buy bids at 5305, 5297 and 5283..... Shall watch if 5391 / 5420 is taken out or not
I am not buying aggressively since nymex is not showing strength
When nifty shall rise to 8050-8100 I shall short nifty and buy crude positional the decision to exit nifty shorts at 7850 is also looking good in hindsight |
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amitagg
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Joined: 01 Oct 2013
Posts: 4559
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| Post: #1020 Posted: Thu Oct 09, 2014 3:17 pm Post subject: |
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So again can see how after my posting it has slide from 5355 to 5325
Dollar index can retrace a bit and hence some sideways to down action
Remember that when dollar index was 80 and Inr was 60.16 I had remarked that Inr was most interesting poised and to rise which has happened |
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