iCharts Discussions

[prabit]

Jai,
many thanks for the guidance. I am attaching yesterdays minifty 15 mnts chart. 34 ema tested and rejected. So can 5592 be considered as new downswing pivot? Please advise.
regards

[Jai2000]

Prabit,

ys 5592 is a New dwn pivot.

Regards,
Jai

[Jai2000]

05/05/'11- NF, Axis Rej trades.........

[rajanadar]

Thanks Jai for your wonderful guidance!

TATASTEEL - 15 TF - 6th May 11
Downtrend
Down Swing Pivot for Cash - 593 (Jai - RSI touched 69.36 almost the OB level. Would this be valid ? If not then pivot still remains as 634.7)
Down Swing Pivot for Futures - 602.25

Thanks!

[Jai2000]

Raja,

Tatasteel 13 hrs candle didnt touch 34 ema. So as u said 634.70 remains the 15Tf pivot. The 5TF pivot is 594.35

Regards,
Jai

[Speculator]

Nifty:

Nifty finally made a new pivot at 5592

15-min: Downtrending, Downswing Pivot 5592
30-min: Downtrending, Downswing Pivot 5592


Copper:


15-min: Downtrending, Downswing Pivot 404.75

- Speculator

[jjm]

Dear All,


RIL:

15 min: Downtrending, down swing pivot 987.85
30 min: Downtrending, down swing pivot 987.85
SBI:

15 min: Downtrending, down swing pivot 2727.65
30 min: Downtrending, down swing pivot 2727.65


Regards,

JJM

[rajanadar]

Thanks Jai for the clarification!
I have a doubt - as you can see from below - the shorter TF is in uptrend while the longer TF is still bearish. How does one take trading decisions in such scenarios?

TATASTEEL - 15 TF - 9th May 11
Downtrend (No change)
Down Swing Pivot for Cash - 634.7
Down Swing Pivot for Futures - 602.25

TATASTEEL - 5 TF - 9th May 11
Uptrend
Up Swing Pivot for Cash - 581 (The chart broke through the Down Swing Pivot of 594.35 on 6th. We are now in Uptrend)
Up Swing Pivot for Futures - 582.1 (The chart broke through the Down Swing Pivot of 595.85 on 6th. We are now in Uptrend)


Thanks!

[prabit]

[rainbow]

Prabit:

Agree with you on TF. one point to add here is while trading on a 5tf, please be sure to check OB and OS conditions using RSI(5)

[Jai2000]

Raja,

Nice one! Firstly i clear myself that i'm using 5TF for intraday only.If u are a swing trader based on 15TF, then you can exit when 5TF change it's trend(Dont reverse) & u can reenter in rejections based on 15TF trend.Cant TRUST this 5TF pivot.Sometimes it works, sometimes not.Yesterday firstly it taken 5 Tf pivot in Axis,BankNifty & Nifty, Finally 15Tf pivot also taken out in Axis& Bank Nifty. Nifty still pending.Last time i exited my short in Nifty @5825.95-13/04/'11 based on 5Tf pivot, it went upto 5947 and reversed in same gear.That time 15 was dwn trend & still that trend continue.......

Regards,
Jai

( Charts- BankNifty-13/34 ema s- Edu 3 Sl hit yesterday )

[GAJ]

Hi,
Iam new to this metbod of trend llowing.
I've few quetions for experts.
I want to trade nifty 30min. Whats the value for rsi sbould be used?
Yesterday on 30 min nifty, before the last 4 white candles there is a big black candle showing rejection from 34ema.Could that be used as entry?

Thanks jai and others for great guidance.

[Speculator]

Jai,

Really good work. Keep it up !

[Dipak28]

[GAJ]