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Swing Trading : The Speculator way |
kiranlegend
White Belt
Joined: 21 Apr 2011
Posts: 73
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Post: #2026  Posted: Sat Dec 08, 2012 2:37 am Post subject: question 2 of rejections |
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is the circled portion of the chart considered a new rejection without even one green candle from the low? it was just a gap following day..
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smartcancerian
Yellow Belt
Joined: 07 Apr 2010
Posts: 542
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| Post: #2027 Posted: Sat Dec 08, 2012 7:47 am Post subject: |
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@ kiranlegend...
For the nifty charts..its a perfect rejection although 34 is not touched..it gave a new low also and became a valid DSP as well...
As regards..BNF chart..(as need more chart to see the whole picture so assuming USP was taken in continuously red candles from the Top)..the first candle in circle touched 34..& the second candle gave rejection entry below it( no need for green candle..touch of 34 or/and rsi OB is to be considered)..it gave a new low also.
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Jai2000
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Joined: 09 Aug 2010
Posts: 346
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| Post: #2028 Posted: Sat Dec 08, 2012 11:07 am Post subject: RE |
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Legend,
Hello...! In both case it's a valid Rejection and SL hit!. But in that downtrend both were not the first rejection NF entry @5330 low was 5201 nearly 130 points from the rejection(06/03/'12) .Same @ Banknifty too... !Trading each&every rejection may not be a good decision. If you want to trade intra, take every rej and book for some decent points.Once yr minimum target achievd place TSL or just Exit! Just my vieww
 Jai
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kiranlegend
White Belt
Joined: 21 Apr 2011
Posts: 73
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| Post: #2029 Posted: Sat Dec 08, 2012 3:25 pm Post subject: |
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| smartcancerian wrote: | @ kiranlegend...
For the nifty charts..its a perfect rejection although 34 is not touched..it gave a new low also and became a valid DSP as well...
As regards..BNF chart..(as need more chart to see the whole picture so assuming USP was taken in continuously red candles from the Top)..the first candle in circle touched 34..& the second candle gave rejection entry below it( no need for green candle..touch of 34 or/and rsi OB is to be considered)..it gave a new low also. |
Smart, yes.. but i just wanna ask once.. thank you friend.. 
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kiranlegend
White Belt
Joined: 21 Apr 2011
Posts: 73
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| Post: #2030 Posted: Sat Dec 08, 2012 3:28 pm Post subject: Re: RE |
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| Jai2000 wrote: | Legend,
Hello...! In both case it's a valid Rejection and SL hit!. But in that downtrend both were not the first rejection NF entry @5330 low was 5201 nearly 130 points from the rejection(06/03/'12) .Same @ Banknifty too... !Trading each&every rejection may not be a good decision. If you want to trade intra, take every rej and book for some decent points.Once yr minimum target achievd place TSL or just Exit! Just my vieww
Jai |
hiiiiiiiiiiii jaiiiiiiiiiiiiiiiiiiiiiiiiiiiiii
yes.. am trying to consider only first and second rejections.. u raised a valid point about the number of points it has fallen.. hmm..
it is nice to connect with you after a long long time..
thank you for being there here on this forum
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kiranlegend
White Belt
Joined: 21 Apr 2011
Posts: 73
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| Post: #2031 Posted: Mon Dec 10, 2012 10:34 am Post subject: |
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another chart.. this is of tata motors..
there is no green candle formed nor there was a rejection but due to gap up a new high formed.. do you 3:30 low as proper pivot which got broken by the second candle on the following day? and such cases are a botheration.. please advice..
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vinst
Black Belt
Joined: 09 Jan 2007
Posts: 3303
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| Post: #2032 Posted: Tue Dec 11, 2012 11:17 am Post subject: |
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| vinst wrote: | NF 15min back in uptrend, DSP 5870
NF 30min continues in uptrend, USP revised to 5870 |
NF 15min , revised USP 5922
NF 30min, USP revised to 5922
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smartcancerian
Yellow Belt
Joined: 07 Apr 2010
Posts: 542
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| Post: #2033 Posted: Tue Dec 11, 2012 2:23 pm Post subject: |
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| USP taken out...dn trend starts in NF 15tf...DSP is 6002.85...
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vinst
Black Belt
Joined: 09 Jan 2007
Posts: 3303
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| Post: #2034 Posted: Tue Dec 11, 2012 2:26 pm Post subject: |
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| vinst wrote: | | vinst wrote: | NF 15min back in uptrend, DSP 5870
NF 30min continues in uptrend, USP revised to 5870 |
NF 15min , revised USP 5922
NF 30min, USP revised to 5922 |
NF 15min , enters downtrend DSP 6003
NF 30min, enters downtrend DSP 6003
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sandew
White Belt
Joined: 02 Feb 2009
Posts: 174
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| Post: #2035 Posted: Wed Dec 12, 2012 1:08 pm Post subject: Trend |
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60M, NF - Trend remains Up
USP shifted up now to 5870.
An Up breach of 6003 will shift USP furthur up to 5899
Flip trend to short when price falls below 5899 and then DSP will be 6003.
A tight range indeed.
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rhtbaweja
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Joined: 19 Jan 2010
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smsmss
White Belt
Joined: 13 Oct 2009
Posts: 123
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| Post: #2037 Posted: Thu Dec 13, 2012 12:12 pm Post subject: hi |
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| are you asking how to deal with fear?
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vinst
Black Belt
Joined: 09 Jan 2007
Posts: 3303
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| Post: #2038 Posted: Thu Dec 13, 2012 2:15 pm Post subject: |
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| vinst wrote: | | vinst wrote: | | vinst wrote: | NF 15min back in uptrend, DSP 5870
NF 30min continues in uptrend, USP revised to 5870 |
NF 15min , revised USP 5922
NF 30min, USP revised to 5922 |
NF 15min , enters downtrend DSP 6003
NF 30min, enters downtrend DSP 6003 |
13-dec-2012
------------------
NF 15min , revised DSP 5963
NF 30min, revised DSP 5963
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sandew
White Belt
Joined: 02 Feb 2009
Posts: 174
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| Post: #2039 Posted: Sun Dec 16, 2012 10:37 am Post subject: Trend |
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60M NF Friday close 5918 high 5920 low 5900
Trend Down, DSP @ 6003
Breach of 5867 will shift DSP down to 5920.
A thrust above 6003 will flip trend to long with USP @ 5867.
MAs say go long over 5920 but swing is down, so this is a "Conflict Zone". Midpoint of 5920 and 6003 is 5960 and this will act as fulcrum. Use oscillators like RSI, CCI, STS for quick entry and exit in this range.
5893-5916 is NTZ "No Trade Zone". Aggressive traders can take counter trend position at these levels if oscillators suggest so, else avoid.
Hourly close above 5920 for most of Monday will also flip trend to long irrespective 6003 is taken out or not.
News: to many coming. Watch RBI, Gujarat election results, SP stand in parliament and support to govt., and news from USA on Fiscal Cliff.
Watch DXY and Copper.
Other Notes
60M NF chart structure and Sts reading shows trend is down.
Trend starts to reverse when PA above 5920
PA furthur above 5940 would breach the rising trendline suggesting a furthur small upthrust. (alternate profits can be booked here)
For short, 5867 level is the only one to watch.
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vinst
Black Belt
Joined: 09 Jan 2007
Posts: 3303
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| Post: #2040 Posted: Sun Dec 16, 2012 5:10 pm Post subject: Re: Trend |
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| sandew wrote: | 60M NF Friday close 5918 high 5920 low 5900
Trend Down, DSP @ 6003
Breach of 5867 will shift DSP down to 5920.
A thrust above 6003 will flip trend to long with USP @ 5867.
MAs say go long over 5920 but swing is down, so this is a "Conflict Zone". Midpoint of 5920 and 6003 is 5960 and this will act as fulcrum. Use oscillators like RSI, CCI, STS for quick entry and exit in this range.
5893-5916 is NTZ "No Trade Zone". Aggressive traders can take counter trend position at these levels if oscillators suggest so, else avoid.
Hourly close above 5920 for most of Monday will also flip trend to long irrespective 6003 is taken out or not.
News: to many coming. Watch RBI, Gujarat election results, SP stand in parliament and support to govt., and news from USA on Fiscal Cliff.
Watch DXY and Copper.
Other Notes
60M NF chart structure and Sts reading shows trend is down.
Trend starts to reverse when PA above 5920
PA furthur above 5940 would breach the rising trendline suggesting a furthur small upthrust. (alternate profits can be booked here)
For short, 5867 level is the only one to watch. |
Sandew,
thanks for a detailed post.
You have mentioned that:
"MAs say go long over 5920 but swing is down, so this is a "Conflict Zone". "
Which MA's do you consider in above remark: 34ema and 8ema or ...?
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