iCharts Discussions

[amitagg]

[smartcancerian]

Here is one idea if one is eager to go short (in uptrend)..i think this is based on basic Dow Theory..You might have to find/recognise this pattern in your tradeable tf or a suitable lower tf to your tradeable tf..hope this helps..

[smartcancerian]

One caution, try that short trade as intra short with the hope that USP shall be breached during the session ( it means the pivot should be nearby & it is managable by price to breach it)...if not breached, close it as intra day trade, don't carry overnight . For overnight carry
1. Either the Pivot should be breached in the session itself or
2. The trade should be in sufficient points profit at the end of session..

[druzva]

I don't think there is something called aggressive entery in ssps . Yes you can take contra entry which is clearly defined by speculator .

[Andre]

Hi Smart,
One small question....
dont you think it would be a better short if one shorts just after the break of minor pivot low..as 1st lower pivot high and then breaking of low establishes the lower high and lower low....
Please give your views....

[smartcancerian]

Andre, my view is- I would prefer to take more trade in the direction of SSP trend, breaking of first MPL would not change the trend(of course, its a game of probability, you might get an early entry sometimes for a new trend that is going to start), so as a matter of double confirmation, i suggested for the price to break second MPL...In pull back, if price goes below 1st MPL in 15tf, then it is possible that the price want to touch 34 of 30tf or 60tf(assuming they are in uptrend) but in this process it may harm the 15tf USP.,so that is why i suggested try that set up when USP is nearby..again that is also a probability.. , whips can not be avoided..also you can read spec initial doc to understand how to open contra trades..ultimately, he is the Master..

[amitagg]

read these from SSPS extracts....as smart also confirms now, i was right in taking short trade "intra-day" based on SSPS system itself:

Speculator: let me finish the basics and then you can ask questions. I will tell you why rsi will be used later, ok now for the uptrend to remain intact we have to keep trading above the swing pivot of 5136, on dec 29, we pullback again towards the 34 ema. in fact we break below that we go back up and retest the 34 ema and fail again. that's a setup for intraday short.
JO_JO_1961Spec: why only intraday?

Speculator: now if this setup had broken 5136 that would be a setup for swing short and the uptrend is considered broken but as you see we didn't break our swing pivot . rather went ahead and made another recovery high the low at 5157 becomes our new swing pivot rejection at 34 and new dec 31 : another pullback to 5192 and a new high so 5192 becomes our new swing pivot on jan 4 another pullback to 5228 and rejection and new high 5218 sorry so 5218 becomes our new swing so on a 15-min chart a swing trader has got no exits so far from his long position ."

[vishyvaranasi]

[jyothil]

Current Position?

G.Jyothi

[smartcancerian]

15tf dntrend..rej candle at 12.45, short below candle low..sl day high..

[amitagg]

no in buy now ....higher high....above 34ema ....

[smartcancerian]

15tf trend turned up now..

[manoshare]

now trend is up then what is the usp now? plz tell

[chandan8576]

Nifty in 60Min. USP is 6243.55

[vishyvaranasi]

Hi All,

Now anyone confirm whether nifty can be Bot when comes near to 34ema with SL of 6243( 15min)

Vishy