iCharts Discussions

[smartcancerian]

Nifty future breached USP which was 6321..now in dntrend..wait for a rejection trade to come-it may or may not come..because mkt might break the range on dn side with full power..just my opinion

[vishyvaranasi]

[smartcancerian]

rejection candle high or minor high made after rejection triggers..

[vishyvaranasi]

[amitagg]

chance shall come many times...now 34ema at 6305..shall move lower..50% retrace at 6311 [also 89EMA] 15tf....markets may become sideways to get those lower [then sell can happen at 6295 levels also ....sells in 6301-6313 region would work anyhow.....stoip 6330....6322 is final retrace....]....

ont thing i have noticed that a "lot of gaps" occur when 34ema breaks up or down the price ie vice versa..today also...

[amitagg]

I had taken short trade in morning at 6333 levels since it was below 6339/6343 levels of previous day...and squared off at 6308/6314 levels....expecting 6000 spot resistance

However Vishy both u and I missed heavily the point that as per SSPS...we could have sold at any point (for swing trade) ie some shorts could have continued for me and for you u could have entered at any time

(Previous post was when NF was at 6290 something and Saumya also mention 6295 resis)....

As per ssps we should then wait for 34 ema and bearish rejection to cancel out the shorts...so some TSl etc.

I had been using "broadly" ssps ...it works ..but with an intra day mindset...with should be modified to take use of trending moves (in part)....

Views are welcome Vishy others....6300 whereabout current 34 EMA 15 tf...let's say 6293....would need to see some pullback to this???? Or we short any how till 6243 hits? On monday...unless gap down which is possible...?

Just like Rita is technically sound and emotionless enough to buy puts at near market again....again any system but being made "full" use thereof..

[amitagg]

34ema for 8 hrs at this level would be 6184 appprox.
34 ema for 6 hrs at this level would vbe 6214 approx...

hence markets may move aroung 6180 level....if around 6130-6150....... "Buy".for intra day or so basis .. for target 6190-6210...stop 6120/6110...

[vishyvaranasi]

Amit,

I seem to understand the strategy in a whole but when it comes to taking up a trade i get confused.

As per my understanding. When the price cuts 34ema and then breaks the previous low .we will have to wait for the price to get rejected again at 34ema WITHA RED CANDLE and then take up a trade.Is it rite or am missing out something.Bcoz for stocks i trade as per my own strategy but when it comes to nifty i hadnt found a suitable strategy till date.



Vishy

[amitagg]

you are right.....and i am wrong as far as "perfect SSPS strategy"...i was just for intra day trades....where sideways action can continue and "pullback" can happen till 34EMA....so long at supports of 6130-6150-6160 for me....i have few "buy" orders at lower levels....markets dont go one way down....even if "buy" triggered down....and prices dont move up..the chart shall give an exit.....just that for today many would not be comfortable selling at 6150 so i suggested a "buy" strategy....safer also...since markets should give a tick up for 6130-6142 levels to 6180 above.....this can be considered variant of strategy...since SSPS also expects prices to touch 34 EMA ....after the gap down.....so we are guessing where it can be after say 8 hrs of gap down trade....

[singh.ravee]

Feb expiry nf till date is in 251 pts profit in a total of 7 trades.
8th trade long from 6140 open.

Any other user of method, echoing same or better results.

pls share

rgds

p.s.: 4pts per trade is the brkgs etc that i pay, so a net of 223pts in feb

[JANKI18]

Mr. Singh.Ravee, congratulation for your success, but you explain with chart, we learn from this.thanks

[amitagg]

[amitagg]

Ravee, no other would give better result..i feel...

i shall start posting entry and exit from now on [assuming no trade now and first to entered after price touches 34ema 15tf and decides which way to go] ....pls since u use it sacredly, do add or correct...so do other followers of this method..

current value 6385.

[.....if gap up tomorrow t0 6480 and stay at 6460-6480.....value shall move to 6430-6440 [approx.] in few hours...]...market to correct to 6440-6445 futures price after gap up opening to 6480...lets see....different gap up shall change values....

[singh.ravee]

amitagg

I don't know about others, for me SSPS is a logic to trade. I don't use much of SSPS (as explained by spec) in my trading.

I have devised few different ways to trade SSPS (entries n exits). None of them is similar to each other. Pivot is the common denominator for all SSPS traders. Even, I don't trade any of the self devised techniques.

For my trading I use only price and logic of SSPS.

I may post my entries and exits, but it will not match with other's entries and exits. It will create clutters in otherwise neat thread, which I do not intend to.

All I can say is that whatever one is doing, one should do consistently and take only technical exits. Its the only way to earn.

regards

[amitagg]