iCharts Discussions

[srihari]

Dear QUICKGMURUGAN sir,

Today I could get one buy signal and one sell signal based on RMT. Unfortunately both the trades hit S/L . Kindly confirm whether I could identify trades correctly or not.

1]LONG TRADE at 12:00. It hit S/L at 13:05 at 5096.

2]SHORT TRADE at 13:20. It hit S/L at 14:35 at 5129.

Please correct if I identified trades wrong.

regards,
srihari.

[ConMan]

Dear Srihari

Both your trades are right....

I dont know how you are saying that the first one hit SL....it never did...it would have given 25 point min...second would have hit SL...net 15pts in two trades. You can also look at shorts at 12.45

Regards

Anand Rathi

[srihari]

Dear ANAND sir,
Thanks a lot for continuously guiding and advising me. You said the buy call gave 25 points.The data is as follows.
BUY:

-previous candle at 11:50 high:5111.50 low:5108.05
-middle candle at 11:55 high:5109.90 low:5108.50
-execution candle at 12:00 high:5116.80 close:5113.90
-Maximum nifty-1m reached is 5124.80 at 12:35 candle.Then how it gave 25 points.Where you would have entered the long trade? Please clarify me.

SHORT AT 12:45

-12:40 MIDDLE candle is an inside candle in comparison to 12:35. Even then also will it qualify as a middle candle for the short set-up. Please explain me sir.
Waiting for your reply,
regards,
srihari.

[ajit123]

dear srihari ,
i have seen your queries ,will reply you soon.
thanks

[ConMan]

Srihari

Sorry you wouldn't have got 25 points....but could have made 10pts atleast by doing trailing your SL.

the 12.35 setup looks like a HH/HL...kindly confirm the levels

[srihari]

Dear ANAND sir,

SHORT TRADE DATA

-12:30 candle high:5124.70 low:5120.10
-12:35 candle high:5124.80 low:5120.15
-12:40 candle high:5124.30 low:5122.40
-12:45 candle high:5123.75 close:5118.85

Kindly explain which is previous candle,which is middle candle and which one execution candle?

regards,
srihari

[ConMan]

Srihari,

12.35 candle has formed HH/HL...so you should short below low of 12.35 candle which is 5120.15 with SL of 5130.15....

Rgds

[srihari]

Dear ANAND sir,
I could make 13 points profit today atlast with your continuous guidance. Advanced happy diwali greetings . In both the trades the execution is spread over two candles. The trades ars as follows:

1st SHORT TRADE
- 10:05 green candle high:5124.90 low:5115.55
-10:10 green candle high:5128.05 low:5122
-10:15 red candle high:5125.95 close:5120
-10:20 red candle open:5120.50 close:5113.

I entered short after close of 10:20 candle at 5113 below 10:05 candle low. Any suggestions regarding entry?
I exited at 11:25 candle at 5100 since momentum was up at that time. How can we exit in a better manner since I missed the later big down move.

2nd SHORT TRADE
-12:35 red candle high:5102 low:5098.30
-12:40 green candle high:5107.90 low:5101.10
-12:45 red candle open:5107 close:5101.40
-12:50 red candle open:5100.80 close:5087.55
This trade I did not enter because 12:50 candle closed at 5087.55 nearly 11 points below 12:35 candle low. How you would have entered this trade.This is very very IMP. Please explain your entry points and exit points.
The up-move from 13:30 did not give any signal for me. If i miss any other trades please tell those also.
regards,
srihari.

[ConMan]

Dear Srihari

Good Work....

Please use trailing Stop Losses to run your profits.

Please do wait for Candle close....it will help

Thanks for your greetings!

QGM

[smsmss]

hi, Ajit nice technique you got here but i f you can explain a bit in detail with an ichart example, it would be very helpful......

Knowledge without execution is infructuous...

[ajit123]

hello ,
we r using the technique for a long time successfully.do come with us on our messenger id [CONTENT REMOVED BY ADMIN] for live trades. there u will learn the technique live.
thanks

[vinst]

Ajit,
The given ID is for which messenger? yahoo, MSN....?


vin