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Sanchit
White Belt
Joined: 03 Jul 2010
Posts: 46
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Post: #46  Posted: Thu Jul 21, 2011 11:57 am Post subject: |
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Dear Arjun,
regarding your 1st question ' How to identify and prevent such misleading signal/entries?'
As a cardinal rule of the strategy; no long/short before the pivot break.
Since the trend was down; hence no long entry was to be taken...(atleast from the swing trading's perspective)
Regarding the 2nd query of RSI being OB
Ideally as per Spec sir, only the price and 34 EMA is to be considered while trading rejections using EMA 8 as a confirmation(source: rejection rules mentioned in the original thread)
Per my understanding; The fundamental reason behind the rejection trade is that we take the position in the direction of the swing only after the pullback towards the 34 EMA is complete and the pivot has not been broken.
The RSI; being an oscillator; may help in acting as a confirmation to identify an Overbought region in a downtrend (vice versa for longs) & thus minimizing whipsaws and risks
If still the SL gets hit... then Price he Bhagwaan Che and the indicator(s) are just acting as headlights 
Rest Jai bhai and other seniors can elaborate/comment & correct me as needed.. as Even i'm still learning the nuances of the strategy... 
Regards,
Sanchit 
| Arjun20 wrote: | Hi Sanchit.....Why u should say 'sorry' for answering my question and helping me?
Ulta, i'm thankful to u.
I completely agree tht Long entry was not justified there. (If anybody had taken Long, there , he had to cut his longs kater and reverse position.).So i'm trying to understand ' How to identify and prevent such misleading signal/entries?'
But still i did not get ur point '@RSI was in OB'-------When i read Spec Sir's doc, it's clearly mentioned tht 'u should wait for RSI to become OB to go LONG'
pls
Arjun |
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Arjun20
Yellow Belt
Joined: 23 Jun 2011
Posts: 945
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| Post: #47 Posted: Thu Jul 21, 2011 5:00 pm Post subject: |
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Last edited by Arjun20 on Sun Jul 24, 2011 10:35 am; edited 1 time in total |
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Arjun20
Yellow Belt
Joined: 23 Jun 2011
Posts: 945
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| Post: #48 Posted: Thu Jul 21, 2011 5:39 pm Post subject: |
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XXXXXXXXXXX
Last edited by Arjun20 on Sun Jul 24, 2011 10:32 am; edited 1 time in total |
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kiranlegend
White Belt
Joined: 21 Apr 2011
Posts: 73
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| Post: #49 Posted: Thu Jul 21, 2011 11:44 pm Post subject: |
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Thanks Jai:-) thanks so so so much for addressing my issues:-)
I will come back if i have any issues but hopefully this time atleast with sensible questions:-)
have a nice time
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Jai2000
White Belt
Joined: 09 Aug 2010
Posts: 346
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| Post: #50 Posted: Fri Jul 22, 2011 7:27 am Post subject: |
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Sanchit,
nicely explained!!!!!!!
Sanchit-(possible whipsaw). We need to take a deep breath here and paitently wait for rejection to occur
(which is what happened later) 
If still the SL gets hit... then Price he Bhagwaan Che and the indicator(s) are just acting as headlights
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ConMan
White Belt
Joined: 06 Aug 2008
Posts: 344
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| Post: #51 Posted: Fri Jul 22, 2011 11:55 am Post subject: |
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Commodity 15 tf trend 30tf trend 60tf trend
Copper 434.85 DOWN 430.65 UP 430.65 UP
Crude 4258 UP 4258 UP 4258 UP
GoldM 23199 DOWN 22841 UP 22841 UP
Nickel 1020.9 UP 1020.9 UP 1020.9 UP
SilverM 60140 UP 56620 UP 56620 UP
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Jai2000
White Belt
Joined: 09 Aug 2010
Posts: 346
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| Post: #52 Posted: Fri Jul 22, 2011 12:35 pm Post subject: RE |
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Conman,
Still no change in copper, silver,nickel pivots. Copper USP holds 430.65 in 15,30 TFs.
Crude Oil USP - 4333
Jai
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ConMan
White Belt
Joined: 06 Aug 2008
Posts: 344
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| Post: #53 Posted: Fri Jul 22, 2011 1:25 pm Post subject: |
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True Copper in Uptrend in all TF
Can you please confirm if my nickel and silver ones are correct. if not can you edit them
crude contract has changed...will it not affect the calculation ... or should we use the new chart with oldpivots itself
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Jai2000
White Belt
Joined: 09 Aug 2010
Posts: 346
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| Post: #54 Posted: Fri Jul 22, 2011 3:31 pm Post subject: RE |
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Conman,
nickel & silverm (15 Tf) Pivots are correct.Goldm 15TF DSP -23168. No idea about crude contract details, as per chart 15 & 30 TF USP -4333!
Jai
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Jai2000
White Belt
Joined: 09 Aug 2010
Posts: 346
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| Post: #55 Posted: Mon Jul 25, 2011 8:54 am Post subject: Pivot Updates |
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Copper - 15TF- USP - 430.65
Copper - 30TF- USP - 430.65
Crudeoil -15TF - USP - 4333
Crudeoil -30TF - USP - 4333
Silverm - 15Tf - DSP - 60140
Nickel - 15TF- USP - 1020.90
Jai
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infinity
White Belt
Joined: 09 Aug 2010
Posts: 49
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| Post: #56 Posted: Mon Jul 25, 2011 11:56 am Post subject: Re: Pivot Updates |
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jai sir
Thank you for regularly posting USP & DSP
Today some time back copper USP was broken & reached 430:25. Should we consider this as breaking and wait for pullback to near ema34 area OR consider this as slippage & should go long if candle closes above ema34.
Your opinion will help in learning.
Thank you in advance.
Anant
| Jai2000 wrote: | Copper - 15TF- USP - 430.65
Copper - 30TF- USP - 430.65
Crudeoil -15TF - USP - 4333
Crudeoil -30TF - USP - 4333
Silverm - 15Tf - DSP - 60140
Nickel - 15TF- USP - 1020.90
Jai |
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rocky1980
White Belt
Joined: 12 Jun 2009
Posts: 73
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| Post: #57 Posted: Mon Jul 25, 2011 12:44 pm Post subject: Nickel looks weak below 1052.4 |
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Hi
Commodity Traders
Nickel on H1 chart shows weakness below 1052 - watch out for this levels for short trade
regards
rocky1980
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Jai2000
White Belt
Joined: 09 Aug 2010
Posts: 346
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| Post: #58 Posted: Mon Jul 25, 2011 6:27 pm Post subject: Re |
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Anant Khadilkar,
hello,
Today some time back copper USP was broken & reached 430:25. Should we consider this as breaking and wait for pullback to near ema34 area OR consider this as slippage & should go long if candle closes above ema34.
Copper is in clear downtrend.Long not good based on his system! Below 430.25 the pivot will change. Now DSP is 442.75
Jai
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infinity
White Belt
Joined: 09 Aug 2010
Posts: 49
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| Post: #59 Posted: Mon Jul 25, 2011 6:53 pm Post subject: Re: Re |
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Thank you
May trouble you again with some query.
Anant
| Jai2000 wrote: | Anant Khadilkar,
hello,
Today some time back copper USP was broken & reached 430:25. Should we consider this as breaking and wait for pullback to near ema34 area OR consider this as slippage & should go long if candle closes above ema34.
Copper is in clear downtrend.Long not good based on his system! Below 430.25 the pivot will change. Now DSP is 442.75
Jai |
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rocky1980
White Belt
Joined: 12 Jun 2009
Posts: 73
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| Post: #60 Posted: Tue Jul 26, 2011 6:42 am Post subject: Commodity Levels 26 July 2011 |
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Alum - entry @ 115.1 tgt 115.6-116.2-116.8 sl 114.3 BOD-114.3 sl 113.7
(Bullish for day)
Copper (bullish) Entry @ 436.1 - tgt 437.2-438.4-439.3 sl 432 BOD-432.2 sl 430.9
Crude (Sideways) BOD - 4404 - sl 4389
(if u need any specific commodity than reply in this thread)
these are my personal levels which i use for intraday trading. Traders can follow and trade with strict sl.
regards
rocky1980
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