iCharts Discussions

smartcancerian · Yellow Belt Joined: 07 Apr 2010 Posts: 542

You can try shorts with SL of 4926 + filter of 5-7 pts..

sonila · Brown Belt Joined: 04 Jun 2009 Posts: 1786

Bharat bhai, enter into a trade through type.2 rejection method, so that risk reward ratio will be much rewarding

Arjun20 · Yellow Belt Joined: 23 Jun 2011 Posts: 945

NF- 15 TF in uptrend with USP 4760.5 - 4JUN 09.45 candle

vinst · Black Belt Joined: 09 Jan 2007 Posts: 3303

sumesh_sol · Brown Belt Joined: 06 Jun 2010 Posts: 2344

As I understand for rej. price either touches 34 ema or near to that .. But someone said that's not required..

In that case can someone please confirm whether 1029 candle was a valid rej. ? However, in such cases even if we get recovery high, it will not be considered for pivot.

For pivot , we will only see either 34 touch or near to 34 + rsi(5) oversold - (for uptrend).....

chetan83 · Brown Belt Joined: 19 Feb 2010 Posts: 2037

sumesh_sol · Brown Belt Joined: 06 Jun 2010 Posts: 2344

Dear Sumesh,

Is 34 EMA touched? I think it is not (as u have not mentioned the TF).....

Chetan.[/quote]

Chetan it is 15tf only....and my point was mainly this only, that it has NOT touched 34 ema or near to 34 ema.. But can it be treated as rej. ..

Personally speaking, I do not consider them as rej. , wanted to know what others consider...

srp83 · White Belt Joined: 05 Jul 2010 Posts: 3

sonila · Brown Belt Joined: 04 Jun 2009 Posts: 1786

Srp83, nf was far above 34-ema, then how u r telling it a valid rejection...... Can u explain ?

chetan83 · Brown Belt Joined: 19 Feb 2010 Posts: 2037

gambletrader · White Belt Joined: 24 Feb 2011 Posts: 27

There seems to be a lot of confusion on whehter 34 EMA touch is required for rejection. Speculator had clearly said for Pivot to form 34 EMa touch is required. But for rejection 34 EMA touch is not required. 8 EMa should come towards 34 EMA and starts to go away. Thats it. Please find Spec's comments in SB day before yesterday.

On 6- Jun -2012 ( trading june contract )
Speculator: landga : spec sir.....do u have any ?? >> yes i am long

Speculator: landga : spec...when how why?? >> Today, placed an order, SSPS :hehe:

Speculator: landga : What is rejection ?

Speculator : In my document i have said a 34 ema touch is required for pivots to form. But i have never mentioned anywhere that a 34 ema touch is required for rejection

Speculator : Rejection is price moving towards 34 ema and reversing. No more no less.

Speculator : Ok i will exaplain it for last time here. Watch the 8 ema

Speculator : 8 ema will start moving towards 34 ema during a pullabck. And then 8 ema turns away from 34 ema. That's a classic rejection and 2 other rules need to be satisfied

Speculator : landga : Yep. 15-min and above rejection is stil pending. 10-min and 5-min gave a rejection

ReD.omspec sir u entered at??

SpeculatorREd: 10-min reject 13:20

Hope this makes things clear.

Amigo · White Belt Joined: 17 Jun 2011 Posts: 223

Thanks Gamble trader for posting this conversation.. helped a lot.

sonila · Brown Belt Joined: 04 Jun 2009 Posts: 1786

Now, is there a valid rejection from 34-ema in 15-tf ? Can any one reply plz ? Thnx.

gambletrader · White Belt Joined: 24 Feb 2011 Posts: 27

No Valid rejection Sonilaji. 8 EMA is still falling.

sumesh_sol · Brown Belt Joined: 06 Jun 2010 Posts: 2344

Speculator : Ok i will exaplain it for last time here. Watch the 8 ema

[b]Speculator : 8 ema will start moving towards 34 ema during a pullabck. And then 8 ema turns away from 34 ema. That's a classic rejection and 2 other rules need to be satisfied[/b]

Thanks a lot GT, you have clarified by giving spec sir's quotation.. This had been bugging me for quite some time.. Now, crystal clear... The critical thing here is 8 ema...