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READING THE LINE [DAY TRADERS MIND] - FUTURES ONLY |
amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
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Post: #976  Posted: Wed Sep 17, 2014 12:29 pm Post subject: |
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| amitagg wrote: | | the real fall does not have to occur everyday.....let some shorts be cut if any and some longs enter above 8000.....for 2-3 days ...let us feel 7960 has held ............then after that .....the next leg of fall likely to happen....... |
i still expect that 7920-30 wont go today and we can touch above 8000 "before the next leg of move - likely fall"
(but i am mantaining my shorts taken since 7970-8070 and intend to do so till 7860 minimum/7780/7670) |
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riteshucha
Green Belt
Joined: 19 May 2012
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| Post: #977 Posted: Thu Sep 18, 2014 10:49 am Post subject: |
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| heyyy.. does today's move qualify for a spike and channel... |
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amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
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| Post: #978 Posted: Thu Sep 18, 2014 1:00 pm Post subject: |
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| riteshucha wrote: | | heyyy.. does today's move qualify for a spike and channel... |
Sorry for delayed response.
True you are a great spotter, flexible trader.
I have off late kept away from "stocks" trading....(many would be showing a pattern today may be) except a special EW set-up with few monthly high RR trades.
Also focussing on crude which is giving intra day profits regularly!!! |
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amitagg
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Joined: 01 Oct 2013
Posts: 4559
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| Post: #979 Posted: Thu Sep 18, 2014 7:51 pm Post subject: |
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see first line below - high was 5805.....now 5715.....next few days will give confirmation of the wave projections........market to only short until 5790 goes.......for me 5680-5780 can be sideways action for next few days......5680 breaking repeatedly will give ample opportunities on sort side even below 5680....for some below 5630.....
| amitagg wrote: | see the 4th wave working itself to trap the bulls.......
5745 hit ...max it can target 5789-5799 (20 point buffer to add) as per wave count...then fall below 5500.....is wave count reading is correct....
shorts can be taken at 5750-5765.... say 5766 .with stop 5820
| amitagg wrote: | | amitagg wrote: | | amitagg wrote: | | amitagg wrote: | those interested in "long" crude can buy at safer level of 5624... stop 5607/ 5588............CMP 5647
may be A B C correction (up) (i.e. 4th wave) of downtrend from 6500 in progress since 5525.....target 5723/5745/5770
or buy above 5681 |
better to go with 5588 stop and buy closer to 5620-5627 rather than above 5680 |
I bought at 5651 above 4 swing 30 tf high and covered just now at 5684......
Have retained another buy order at 5624 which won't trigger today
After 20-30 point fall it can again target 5723 first.... Even after falling to 5620 it can target 5723 first then 5745 and 5775
Prognosis to change if below 5580 |
timely booking yesterday......so market opened gap down below 5580...and once moved above respecting lows of 5550.....was up in 5 wave
down 3 wave....up 5 wave...............since it is "UP" ABC 4th wave i.e. 5-3-5 correction of fall from 6500.....market may test 5725-5750 region......
show "triple bottom" formation.....deceive longs and fall back below 5500.............if wave reading of 3rd wave ending at 5525 is correct......as mentioned few days before.........
so intra longs only......but positional longs for me still difficult.......
marker above Rohans indicator gave intra long profits today......
rise from bottom today exactly as per wave....with alteration of 2nd and 4rd at 61 and 38 percent and current 5 ongoing of minor wave of tday "C" as above.........CMP 5663 till 5680 "resistance / professional supply area intra day".
market may again rise 20-30 points to touch upper trendlines at 5703-5725 area......... [b]positional reversal below 5603 [/b]now...... till above 5700 is touched....though |
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amitagg
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Joined: 01 Oct 2013
Posts: 4559
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| Post: #980 Posted: Thu Sep 18, 2014 7:57 pm Post subject: |
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i am truly add that what i have written below is the "analysis" which has been working perfectly....however.....for trading different things come to the fore.....[i often cannot post trades though i have been trying since they are made up seeing price action though thought through in advance.... ..for eg" i traded long only intra day today....]
for instance if someone wants to short today, he can around 5710 provided provided price remains below 5713 for next hr.........and target 5680.....
so u shall realise that this one statement is not sufficient for trading.....since price can move in different ways....yes if price does move those different ways, then i skip the trade.......for instance, price can immediately go down to 5680 though i have posted to take trade at 5710 .....and after 1 hr...if price is below 5713-5717.....etc etc.....i know its difficult to understand.....that is why we can (or should) trade "alone" |
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amitagg
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Joined: 01 Oct 2013
Posts: 4559
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| Post: #981 Posted: Thu Sep 18, 2014 9:16 pm Post subject: |
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| amitagg wrote: | i am truly add that what i have written below is the "analysis" which has been working perfectly....however.....for trading different things come to the fore.....[i often cannot post trades though i have been trying since they are made up seeing price action though thought through in advance.... ..for eg" i traded long only intra day today....]
for instance if someone wants to short today, he can around 5710 provided provided price remains below 5713 for next hr.........and target 5680.....
so u shall realise that this one statement is not sufficient for trading.....since price can move in different ways....yes if price does move those different ways, then i skip the trade.......for instance, price can immediately go down to 5680 though i have posted to take trade at 5710 .....and after 1 hr...if price is below 5713-5717.....etc etc.....i know its difficult to understand.....that is why we can (or should) trade "alone" |
5680 hit 
Gone risky long at 5666 also for intra day for few points also |
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amitagg
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Joined: 01 Oct 2013
Posts: 4559
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| Post: #982 Posted: Thu Sep 18, 2014 9:55 pm Post subject: |
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real support at 5635-5645-5654 ......place one buy order there tomorrow.... (-30 points eg: 5615 for next series)
is pricing same at 5666-5686....then exit at cost or around 5682-5686....in any case at 5698 : cmp 5676 |
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amitagg
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Joined: 01 Oct 2013
Posts: 4559
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| Post: #983 Posted: Mon Sep 22, 2014 2:31 am Post subject: |
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Crude resistance 5654-5680
Crude support 5555-5565-5577
Trend trade:( skipping intra day long side trade for posting purposes to avoid clutter)
Sell crude below 5597 target 5578(min)
Sell crude if hits 5642-5655 and falls back below 5630
(5618 and 5635 other minor resistances)
Stops for positional shorts if any 5815
Stops for intra day shorts 5668 ( if above 5609)- aggressive shorts to keep 5685 only as stop
Likely move to hit 5550-5570 areas ( high likelihood)
Then pullback to 5654 ( possible) or 5723 ( less likely but possible)
Breakdown below 5525 target 5490/5400/5300 ( final target)
Patterns currently diamond , symmetrical triangle
Bearish Wave v of 1 of (5) from 6500 in progress ( count to change only above 5815 sustaining) |
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amitagg
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Joined: 01 Oct 2013
Posts: 4559
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| Post: #984 Posted: Mon Sep 22, 2014 11:52 am Post subject: |
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| amitagg wrote: | Crude resistance 5654-5680
Crude support 5555-5565-5577
Trend trade:( skipping intra day long side trade for posting purposes to avoid clutter)
Sell crude below 5597 target 5578(min)
Sell crude if hits 5642-5655 and falls back below 5630
(5618 and 5635 other minor resistances)
Stops for positional shorts if any 5815
Stops for intra day shorts 5668 ( if above 5609)- aggressive shorts to keep 5685 only as stop
Likely move to hit 5550-5570 areas ( high likelihood)
Then pullback to 5654 ( possible) or 5723 ( less likely but possible)
Breakdown below 5525 target 5490/5400/5300 ( final target)
Patterns currently diamond , symmetrical triangle
Bearish Wave v of 1 of (5) from 6500 in progress ( count to change only above 5815 sustaining) |
5578 hit low 5569
2-3 more opportunities to come later today . I would recommend booking profits unless one hr remaining below 5560. To resell at 5619-5635
Last edited by amitagg on Mon Sep 22, 2014 12:43 pm; edited 1 time in total |
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mikky
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Joined: 16 Feb 2014
Posts: 1442
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| Post: #985 Posted: Mon Sep 22, 2014 12:16 pm Post subject: |
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Amit, do you track Silver as well... Can you please tell me outlook on Silver... Planning to go long on it @current levels.
Waiting for reply. |
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amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
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| Post: #986 Posted: Mon Sep 22, 2014 12:52 pm Post subject: |
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| mikky wrote: | Amit, do you track Silver as well... Can you please tell me outlook on Silver... Planning to go long on it @current levels.
Waiting for reply. |
Tracking is something else... Do but not wholesome for trading purposes
Trading only crude ( since get drilling down to specific levels)
Silver was wanting to but on Friday fall after it touched 39600 and rose to 40000. Saved
Since weekly or monthly don't recall 39300-39900 was demand levels
It is already broken today..... Never so sure.... Since people expected 15-16 usd also... Bad charts...... Money is made in bad times..... But for me trading is different if we have to eliminate discretion and focus only on technicals
Don't thing technicals wod suggest buying it unless of course have fallen a lot etc
Your trendline areas to support buying also not triggered as of now I guess
I can be definitively and mostly wrong since I can think of being right only on daily traded commodity like crude |
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mikky
Green Belt
Joined: 16 Feb 2014
Posts: 1442
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| Post: #987 Posted: Mon Sep 22, 2014 4:42 pm Post subject: |
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Thanks Amit!!!
| amitagg wrote: | | mikky wrote: | Amit, do you track Silver as well... Can you please tell me outlook on Silver... Planning to go long on it @current levels.
Waiting for reply. |
Tracking is something else... Do but not wholesome for trading purposes
Trading only crude ( since get drilling down to specific levels)
Silver was wanting to but on Friday fall after it touched 39600 and rose to 40000. Saved
Since weekly or monthly don't recall 39300-39900 was demand levels
It is already broken today..... Never so sure.... Since people expected 15-16 usd also... Bad charts...... Money is made in bad times..... But for me trading is different if we have to eliminate discretion and focus only on technicals
Don't thing technicals wod suggest buying it unless of course have fallen a lot etc
Your trendline areas to support buying also not triggered as of now I guess
I can be definitively and mostly wrong since I can think of being right only on daily traded commodity like crude |
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amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
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| Post: #988 Posted: Mon Sep 22, 2014 4:44 pm Post subject: |
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Again as expected in morning market reversed now 5620 - from 5569 which was mentioned as to be hit
Reselling level is 5641 and 5666 study charts at pint of time when the levels are hit to trade accordingly
| amitagg wrote: | | amitagg wrote: | Crude resistance 5654-5680
Crude support 5555-5565-5577
Trend trade:( skipping intra day long side trade for posting purposes to avoid clutter)
Sell crude below 5597 target 5578(min)
Sell crude if hits 5642-5655 and falls back below 5630
(5618 and 5635 other minor resistances)
Stops for positional shorts if any 5815
Stops for intra day shorts 5668 ( if above 5609)- aggressive shorts to keep 5685 only as stop
Likely move to hit 5550-5570 areas ( high likelihood)
Then pullback to 5654 ( possible) or 5723 ( less likely but possible)
Breakdown below 5525 target 5490/5400/5300 ( final target)
Patterns currently diamond , symmetrical triangle
Bearish Wave v of 1 of (5) from 6500 in progress ( count to change only above 5815 sustaining) |
5578 hit low 5569
2-3 more opportunities to come later today . I would recommend booking profits unless one hr remaining below 5560. To resell at 5619-5635 |
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amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
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| Post: #989 Posted: Mon Sep 22, 2014 9:33 pm Post subject: |
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i have exited at 300 Rs profit (silver) entry was posted in your thread. (my trde was purely intra day as often based on supply demand)....39800 & 40000 are 2 resistances based on such pattern.....the resistance area started around yesterdays closing price which i used to exit. (i dont calculated profits or % profit, just trade basis intra levels)
thanks for instilling a trade initiation thought.
| mikky wrote: | Thanks Amit!!!
| amitagg wrote: | | mikky wrote: | Amit, do you track Silver as well... Can you please tell me outlook on Silver... Planning to go long on it @current levels.
Waiting for reply. |
Tracking is something else... Do but not wholesome for trading purposes
Trading only crude ( since get drilling down to specific levels)
Silver was wanting to but on Friday fall after it touched 39600 and rose to 40000. Saved
Since weekly or monthly don't recall 39300-39900 was demand levels
It is already broken today..... Never so sure.... Since people expected 15-16 usd also... Bad charts...... Money is made in bad times..... But for me trading is different if we have to eliminate discretion and focus only on technicals
Don't thing technicals wod suggest buying it unless of course have fallen a lot etc
Your trendline areas to support buying also not triggered as of now I guess
I can be definitively and mostly wrong since I can think of being right only on daily traded commodity like crude |
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mikky
Green Belt
Joined: 16 Feb 2014
Posts: 1442
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| Post: #990 Posted: Mon Sep 22, 2014 9:42 pm Post subject: |
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Great!!!
Happy to know.... Enjoy
| amitagg wrote: | i have exited at 300 Rs profit (silver) entry was posted in your thread. (my trde was purely intra day as often based on supply demand)....39800 & 40000 are 2 resistances based on such pattern.....the resistance area started around yesterdays closing price which i used to exit. (i dont calculated profits or % profit, just trade basis intra levels)
thanks for instilling a trade initiation thought.
| mikky wrote: | Thanks Amit!!!
| amitagg wrote: | | mikky wrote: | Amit, do you track Silver as well... Can you please tell me outlook on Silver... Planning to go long on it @current levels.
Waiting for reply. |
Tracking is something else... Do but not wholesome for trading purposes
Trading only crude ( since get drilling down to specific levels)
Silver was wanting to but on Friday fall after it touched 39600 and rose to 40000. Saved
Since weekly or monthly don't recall 39300-39900 was demand levels
It is already broken today..... Never so sure.... Since people expected 15-16 usd also... Bad charts...... Money is made in bad times..... But for me trading is different if we have to eliminate discretion and focus only on technicals
Don't thing technicals wod suggest buying it unless of course have fallen a lot etc
Your trendline areas to support buying also not triggered as of now I guess
I can be definitively and mostly wrong since I can think of being right only on daily traded commodity like crude |
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