iCharts Discussions

[smartcancerian]

NF downtrending...downswing pivot is 5521 (15tf)

[Jai2000]

Though we can take this as new pivot, price has not touched 34EMA. This is not the ideal case pivot.

Thanks,
Sri Hari


Hari,

Yes you are correct, that candle didnt touch 34 ema but watch RSI5,it's OB & we got new low( i markd in chart). So we can consider that 9.30 candle as a valid pivot.Anyway dont get confussion.......today it has touched 34 ema, hope for the new low or above 2378........

Regards,
Jai

[Jai2000]

Smart,

Still 15Tf pivot is 5622.80

Jai

(5Tf up Now)

[smartcancerian]

[sumesh_sol]

Hi Friends,

This is a very good method to ride on a just starting swing for short term, with TSL in place.. But can this be effectively used for intraday also? I want to ask experienced traders who are using this rejection based method for good intra profit.

1.) Whether 15tf is OK or smaller (5/10 tf) can also be used.

2.) When exactly can we enter, if we wait for rejection cc, many times we loose good intra points, and if we just place our buy/sell orders at 34 ema, it may actually breach that on closing...

3.) How do we select best performing stock for a given day's trade .

I shall appreciate if few actual trades can be shared (purely Intra based)...

Moreover, if any of you are doing it consistently, then please post the same as soon as you take the entry. The more we share the more we can be benefited, as we can increase the nos of tradeable stock list with good r/r ratio in this way when many ppl start posting their trades.

Regards,
Sumesh

[druzva]

One humble request to all the folks and followers of this system. Pl do not put different stocks in to this thread. Speculator sir has been posting all these months (may be year) nifty because he wanted to look it is simple and also maintain the uniformity. For stock we can have one separate thread under the able guidance of Spec and with PT sir’s help. Also we need one next generation champion who can act as a moderator and correct the mistakes or reply to the questions raised by fellow traders. Our all season’s friend Rainbow can . Rainbow can be because he has understood the system well. It is a request rain I leave it to you completely.

[Jai2000]

deleted.....

[Jai2000]

Sumesh,

Hello ......Welcome!
I was expecting atleast shekhar sir will answer you.Pls next time address to shekhar sir! He can guide you better. (Spec sir is on leave)

Sumesh the word "Purely intraday" would insult this system.It's a best swing trading system.But for a minimum & decent profit you can use this "rejections" as a intraday trade.You must understand one thing- those rejection entries are created by Spec sir is for enter a swing trade or add a trade who hs missed the pivot cross point.

2.) When exactly can we enter, if we wait for rejection cc, many times we loose good intra points, and if we just place our buy/sell orders at 34 ema, it may actually breach that on closing...

Sumesh, You cant pick bottom or catch top by using his system, not even by 30 second Tf ! For Rejection entry Candle close is a basic rule!

1.) Whether 15tf is OK or smaller (5/10 tf) can also be used.
3.) How do we select best performing stock for a given day's trade .

you can find it by backtesing only.Select few stocks & try to backtest minimum 5 to 6 months data. I've posted few stoks here,if it work for you, you can select those!But if you are a very new to this method pls start with Niftyminis.It's a suggestion!

Sumesh one more thing is, in yr first post u hv recomended Axis to buy 50% at bottom & 50% above pivot, based on some Divergence- This is completely irrelevent to this System.This is purely Price based Trend following System.Even 0.05 point difrent is also worth here! I wish to post my Real trades for example. I've attached 3 charts. I always enter directly @pivot cross. Nickel sep'10- my entry was@1067 SL is 1082.70. Sl means it was a downswing pivot.That reade was saved by just 0.40 paisa & i got very nice profits. Same in Axis Bank. This Lead chart is recent one just 2 weeks before. I've shorted @ 105 based on 60Tf rejection, sl@ 107.45(15Tf Pivot) one lot i booked @ 101, the another one SL got hit, but my reverse trade given profits more than my Loss.This is the best thing of his system!

What i want to say is Pls take somemore time to understand this concept & enjoy trading. If you have any doubts pls post here, we all are here to support you! Best Of Luck!

Regards,
Jai

[jjm]

Dear All

RIL:

Downtrending with down swing pivots
15 tf : 962.00
30 tf : 966.00
60 tf : 966.00

SBI: Down trending with down swing pivot
15 tf : 2358.20
30 tf : 2688.55
60 tf : 2688.55

Regards

JJM

[sumesh_sol]

Hi Jai,

I'm highly thankful to you for your insight on my post earlier related to this method..

Can you please confirm TCS (15tf) whether it has broken pivot @1157.9 , however, it didnot CLOSE below that. So can we take it as having broken ?

If yes then can we go short with SL 1182.6 ?

PS : As I understand few friends are not confortable with posting charts/comments about Stocks. They would like to keep it only for Nifty Index. In that case , I'm OK with answer in other(may be new ?) thread also. Just let me know the thread..

Thanks & Regards,
Sumesh

[vinst]

NF 30 min charts in continuing in downtrend.
downswing pivot is changed to high of 20-May.

[Jai2000]

JJM,

Hello, dont u think 962 is a 30tf pivot too....? @ Reliance....
-Jai.

[Jai2000]

Sumesh,

Yes the pivots u mentioned in 15 Tf were right (TCS). Pls always wait for a Rejection to enter trade & USe 2*ATR Sl as advised by Spec sir.

Jai.

[sumesh_sol]

Dear experts,

GAIL ..15tf..
*************
Took Long on break of 15tf pivot(436.5). This candle fulfills all requirement, closed above pivot, closed above previous high indicating momentum.

Now the question here is that of SL. As per Spec sir, for long we can have SL in two ways

1.) Either below swing low(here 412.65). But this becomes very deep.

2.) OR Low of the most important candle which breaks pivot, in this case 431.45. But if you see RSI(5) has become overbought and there are all the chances it will retrace back to 34 ema which is below this SL.

So, out of these two which is more logical. Please suggest.

Regards,
Sumesh

[sumesh_sol]

TCS ..15tf
**********

Just to reinforce my understanding... TCS broke its upside pivot at 1158, and then reversed shortly thereafer. It touched exact SL (1170), but didn't breach it.

Probably we can short here with SL above 1170 CC. and in case of SL getting hit reverse for Long from here ? any suggestions please..?