iCharts Discussions

[vvsp]

[smartcancerian]

[Ravi_S]

Thanks guys for those who responded... I got it now...

[ashis]

Dear sir,
As we know that up Swing Pivot 5480 is broken and after taking support around 5400 market is once again coming up and Speculator sir has mentioned that Down trend’s S.P. is high of uptrend which is around 5610.
I want to know just one thing that if once S.P. 5480 is broken then is it possible that market will make new high?
Awaiting for your comment
Regards
Ashis

[Speculator]

In uptrending markets, trade bullish rejections. In downtrending markets, trade bearish rejections.

Nifty:

15-min: Downtrending, Downswing Pivot 5611
30-min: Downtrending, Downswing Pivot 5611


Copper:

30-min: Downtrending, Downswing Pivot 448.65


- Speculator


I want to know just one thing that if once S.P. 5480 is broken then is it possible that market will make new high?
Awaiting for your comment
Regards
Ashis


Ashis,

Once a pivot is broken, the market should start trending in that direction with pullbacks to 34 EMA. It should not immediately go back and break the prior pivot. In this case, it should not go and break the 5610 highs. But sometimes it happens and it's called a whipsaw. The last few days we are seeing a lot of whipsaws on both 15 and 30-min TF. This is because the EOD charts are in a tight consolidation, possibly in a triangle formation.

But as swing traders our goal should be to take rejections only in the direction of the trend. Yes, that would mean we miss some big moves against the trend sometimes. But trading against the trend is sort of gamble and has a poor risk/reward. So better to stick with the system and ride out some whipsaws.

Currently the trend is down in both NF and Copper. So i will be looking to short if any bearish rejections occur.

- Speculator

[ashis]

Dear sir
Thanks for your valuable comment.

Now I observe in NF. 5-min T/F. that yesterday market make new high 5547.50 around 3:00 p.m. and then it make low 5526.15 st around 3:10 p.m. and to day in gap up opening it breaks previous high 5547.50. So can we consider this 5526.15 as swing pivot in 5-min for up trend. As we know that in 15 & 30 min T/F market is -Ve and in 5-min T/F only market is positive so can we observe this 5526.15 as SP?

Awaiting for valuable comment?

Regards
Ashis

[Ravi_S]

Spec

In continuation with my previous question, lets say there is a bearish rejection in NF today (from now on since it's trading very close below 34 EMA now), the SL should ideally be the high of the candle before teh rejection candle according to your document. This would not qualify as a Swing Pivot as we have not yet made a recovery low as yet. This means the swing pivot is still intact at 5611. Am I right here or getting confused

Regards
Ravi

[Ravi_S]

First rejection from 34 ema SL hit... Is this correct?

[Speculator]

Spec

In continuation with my previous question, lets say there is a bearish rejection in NF today (from now on since it's trading very close below 34 EMA now), the SL should ideally be the high of the candle before teh rejection candle according to your document. This would not qualify as a Swing Pivot as we have not yet made a recovery low as yet. This means the swing pivot is still intact at 5611. Am I right here or getting confused

Regards
Ravi

>>
You are correct. The rejection pivot will not become a swing pivot until new lows are made.




In uptrending markets, trade bullish rejections. In downtrending markets, trade bearish rejections.

Nifty:

15-min: Downtrending, Downswing Pivot 5611
30-min: Downtrending, Downswing Pivot 5611


Copper:

30-min: Downtrending, Downswing Pivot 442

Nifty has been whipsawing badly the last few days, but Copper (and all base metals) gave a beautiful rejection yesterday for massive profits.

- Speculator

[ashis]

Dear sir,

Yesterday in N.F. 15-min. , After taking support@5477 then,
at around 12:15p.m. market give close above 34-ema but RSI is not O.B.
at around 1:15p.m. market give close above 34-ema and RSI O.S. and price is 5540
Then RSI came bellow 50,
at around 3:00 p.m. once again RSI above 70 and price make new high 5552.

Sir, As you mentioned that Down Swing Pivot is 5611
So can we think for up swing Pivot 5477 ?

Is it possible that market will move in range of 5477 to 5611? Due to this positive formation market can go up? and break 5611?
If breaks 5611 then we can see up move also is it right?
Please correct me.

Awaiting for your valuable comment.

Regards
Ashis

[Speculator]

In uptrending markets, trade bullish rejections. In downtrending markets, trade bearish rejections.

Nifty:

15-min: Downtrending, Downswing Pivot 5611
30-min: Downtrending, Downswing Pivot 5611


Copper:

30-min: Downtrending, Downswing Pivot 442

Nifty continues to whipsaw and Copper gave another beautiful rejection today.


------


Sir, As you mentioned that Down Swing Pivot is 5611
So can we think for up swing Pivot 5477 ?

Is it possible that market will move in range of 5477 to 5611? Due to this positive formation market can go up? and break 5611?
If breaks 5611 then we can see up move also is it right?
Please correct me.

Awaiting for your valuable comment.

Regards
Ashis


Ashis,

We are rangebound within 5400-5600. But the trend is still down until 5611 gets taken out. There is nothing positive about a market as long as it's trading below the pivot.

Whether it breaks 5611 or not is a prediction. Predictions are useless. Leave the predictions to experts and Gurus who are wrong more than 50% of the time. What matters for trading is proper identification of trend and properly executing trades in the direction of the trend. Rest is all noise !

- Speculator

[Speculator]

In uptrending markets, trade bullish rejections. In downtrending markets, trade bearish rejections.

Nifty:

15-min: Downtrending, Downswing Pivot 5611
30-min: Downtrending, Downswing Pivot 5611


Copper:

30-min: Downtrending, Downswing Pivot 442

Nifty continues to whipsaw. Copper gave another good rejection today.


------


Sir, As you mentioned that Down Swing Pivot is 5611
So can we think for up swing Pivot 5477 ?

Is it possible that market will move in range of 5477 to 5611? Due to this positive formation market can go up? and break 5611?
If breaks 5611 then we can see up move also is it right?
Please correct me.

Awaiting for your valuable comment.

Regards
Ashis


Ashis,

We are rangebound within 5400-5600. But the trend is still down until 5611 gets taken out. There is nothing positive about a market as long as it's trading below the pivot.

Whether it breaks 5611 or not is a prediction. Predictions are useless. Leave the predictions to experts and Gurus who are wrong more than 50% of the time. What matters for trading is proper identification of trend and properly executing trades in the direction of the trend. Rest is all noise !

- Speculator

[Jai2000]

Predictions are useless. Leave the predictions to experts and Gurus who are wrong more than 50% of the time. What matters for trading is proper identification of trend and properly executing trades in the direction of the trend. Rest is all noise !

- Speculator

Spec sir nice one!

Jai.

[ashis]

Dear sir,
Thanks for your kind guidance.
Is there any technique to decide down side target if 5400 Breaks?
Awaiting to hear from you.
Regards
Ashis

[Ravi_S]

Ashis this method is just riding your trade with the trend and this does not give any targets/levels etc., it only gives you meaningful entries and exits...