iCharts Discussions

[gambletrader]

Jai,
Need some clarifications on SSPS in 5min TF. Request you kindly explain how to use the 5min TF pivots as TSL in 15 min swing trading. It will be helpful if you can post an example. I don't know how to trade under these highly volatile conditions where swing position gains are wiped on the very next day.
Thought your system of TSL in lower timeframes will help us tackle these rogue rallies.

Please reply at your comfort whenever you are free.

Thanks in advance,

Kishore

[Jai2000]

Kishore,

Hi...it's nothing I enter trade based on 15TF Pivot (swing),& using 5Tf Pivot to book my profits! I dont have much TA skill so using this simple 5Tf stuff!

Well, Let we discuss few recent swings in silvermini.

A. 61555 15Tf USP (4/8'11- 18.15hrs).After breaking USP low was 56601.

B. So point B ( 58888) become 15TF as well as 5TF DSP.On 6/8 it taken

out so our TSL got hit.

Down Swing--- 61558- 56601 TSL 58888.

C. Now point C( 56601) become our SL for Long.

D.22/8 high is 66630 and 15TF USP is 62640(19/. Here we hav to watch.....on 22/8, 5TF USP was 65700. So my TSL got hit. This upswing
58888- 66630 - TSL 65700.

Finally on 24/8 15 TF USP also taken out.So my Shortsell trigered with SL of 66630,Low 58898 .This Downswing still on, but my TSL got hit @ 60889 based on 5TF.

62640- 58898(on) TSL 60889.

Now no swing pos. 5TF is UP now! I'l short below 5TF USP, because 15Tf already down.

Regards,
Jai

[Jai2000]

Kishore,

Imp thing is i never take swing pos based on 5TF or against 15TF trend, because 98% gaps would be favour of higher TF s only. 5Tf is only for profit booking!!!!!!

Jai

[venkat65]

Jai Sir,

Thanks a ton. The explanation was very clear. A new comer (or late comer) I was feeling miserable for missing Spec Sir's school. Everytime he says school is closed I silently curse myself for entering late. The fact that you have come forward to take up baton and keep the teaching live is highly appreciated. Thanks on behalf of all SSPS fans.

Regards,

Venkat

[kiranlegend]

Thanks Jai:-)

[enroute]

thanx jai

[smartcancerian]

Jai ji,
One query..can't we consider 25 aug 12 pm candle as new DSP..here rsi(5) was OB but 34 nt touched..& after that prices made newer low..although in such cases i am not confident how to evaluate rejection because prices are already below 34...pl guide..

Thanx..

[Jai2000]

Smart,

hi Tks for the chart........i just read yr msg clearly.....that chart u hav posted is silver, i trade only silver mini or micro ( ) so i didnt aware of this! Ys based on silver that's a valid pivot!!!!! Thanks!

Jai

[Sanchit]

Thanks Jai Bhai
Gr888 stuff!!
Simple yet amazingly effective..

Just one query, if you don't mind pls

Can an Intra trade be taken even if its against the 15/30 mins swing direction? (once 5 min TF pivot is broken)

if yes, then any criteria for initiating the intra trade and/or possible target?

Regards,
Sanchit

[smartcancerian]

thanx jai bhai..

[Jai2000]

Smart ,

Ys my mistake, honestly i exited my short based on 5TF only, but after yr posting only i'm watching RSI...... we may consider 60889 (silverm)as a valid DSp which is already broken. If u r already long then u can exit once 5TF USP broken.

Jai

[gambletrader]

Jai,
Thanks a lot for your explanation. With this example you have clearly explained your strategy for all of us. Hat's Off.
And I will use 5 TF only for intra ( and contra) and profit booking ( as TSL) and swings will only be based on 15 TF.

Thanks again,
Kishore

[Jai2000]

Sanchit,

Ys for intra u can trade based on 5Tf trend. let say 15Tf is dwn trend & 5Tf is uptrend, if the price trading below 34 ema u can try for dwn side rejection. Watch yesterday silvermini-2m. I've shorted based on 5Tf dwnside rejection 13.30/13.35 candle. 63730 my entry price & exited @ 63050 . (intra trade). Yesterday 5Tf was in uptrend so i decided to book profit above 62564.

Jai

[Jai2000]

Kishore,

Thank you! Enjoy trading .....all credit goes to Spce sir

Jai

[Sanchit]

Thanks Jai Bhai,

have a gr8 day!

Regards,
Sanchit