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Swing Trading : The Speculator way |
vvsp
White Belt
Joined: 10 Nov 2010
Posts: 62
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Post: #676  Posted: Tue May 24, 2011 6:46 am Post subject: |
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Dear Sumesh_sol,
"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..?"
As per Spec's system, one can enter trade on break of pivot or on rejection from 34 ema. SL can be rejection pivot or 2*ATR(14).
Reversing the position when SL is hit will be correct only when SL is swing pivot. Otherwise it doesn't conform with the system. Ideally one has to wait for next rejection and take trade in line with the trend.
Thanks,
Prabhakar.
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Jai2000
White Belt
Joined: 09 Aug 2010
Posts: 346
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| Post: #677 Posted: Tue May 24, 2011 7:59 am Post subject: TCS |
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Sumesh,
My suggestion is pls try to spend some more time to understand this strategy fully before you enter trade.Your understanding is completely wrong, and yes what VVSP said is correct,that what i hd mentiond in my previous message also.
Jai
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jjm
White Belt
Joined: 17 Mar 2010
Posts: 411
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| Post: #678 Posted: Tue May 24, 2011 9:40 am Post subject: Re: REL pivot |
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| Jai2000 wrote: | JJM,
Hello, dont u think 962 is a 30tf pivot too....? @ Reliance....
-Jai. |
Dear Jai,
HI!
This is always a big confusion for me , I hv marked the pt on chart..
Pls clarify as per your convienece
Regards,
JJM
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Jai2000
White Belt
Joined: 09 Aug 2010
Posts: 346
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| Post: #679 Posted: Tue May 24, 2011 10:19 am Post subject: RELIANCE |
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JJM,
 yr chart is so clear. I think it might be TYPING ERROR. You hav mentnd 966 is 30 &60 TFs pivot. But yr chart says it's 962.
Regards,
Jai.
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sumesh_sol
Brown Belt
Joined: 06 Jun 2010
Posts: 2344
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| Post: #680 Posted: Tue May 24, 2011 10:54 am Post subject: |
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| vvsp wrote: | Dear Sumesh_sol,
"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..?"
As per Spec's system, one can enter trade on break of pivot or on rejection from 34 ema. SL can be rejection pivot or 2*ATR(14).
Reversing the position when SL is hit will be correct only when SL is swing pivot. Otherwise it doesn't conform with the system. Ideally one has to wait for next rejection and take trade in line with the trend.
Thanks,
Prabhakar. |
Dear Prabhakar,
Thanks for your reply. Maybe I didn't put my question properly. Please find here chart with markings. This is TCS on 15 tf. I'm trying to put what I understood. In no way I'm suggesting that I'm right, but this is only the way we can enhance our understanding. I promise once I get the hang of the system, I will not bug you people.
1.) The upside pivot was at 1157.9, as this was closest to 34 ema before price made new high.
2.) This was convingly broken by 1:00 candle of 23-may . it closed below 1157.9 and also closed below previous caldle's low, so a confirmed pivot break.
3.) With this pivot break , the Downside pivot should be (in my opinion) 1170.50 as that was highest closest to 34 ema before pivot was broken.
4.) Now one could have gone SHORT with 1170.5 as downside pivot.
5.) As the price reversed from low and actually today crossed 1170.5, BUT did not CLOSE above that, so it is not a pivot break.
6.) Now here was my point, that for minimum SL we can short here and if any candle closes above 1170.5, we hit our SL and since it has crossed the pivot, we can reverse and take long.. Of course better would be to let the price move high and come back to retest 34 ema, and if it rejects just go long.
Thanks and Regards,
Sumesh
PS : Jai brother, I have read entire method around 20-25 times and referred to examples given in the thread. Still, there remains some grey areas which I need to understand & correct with the help of you guys. Please help me.
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Jai2000
White Belt
Joined: 09 Aug 2010
Posts: 346
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| Post: #681 Posted: Tue May 24, 2011 12:13 pm Post subject: TCS |
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Sumesh,
Once the pivot point broken, then previous swing's high or Low would be the new pivot.In this case it's 1182.60. If any low below 1150 then pivot will change.
Regards,
Jai
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sumesh_sol
Brown Belt
Joined: 06 Jun 2010
Posts: 2344
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| Post: #682 Posted: Tue May 24, 2011 12:18 pm Post subject: Re: TCS |
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| Jai2000 wrote: | Sumesh,
Once the pivot point broken, then previous swing's high or Low would be the new pivot.In this case it's 1182.60. If any low below 1150 then pivot will change.
Regards,
Jai |
OK...... So if moves below 1150 then new pivot will be 1172.75 ..
Thanks for clarifiaction..
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vvsp
White Belt
Joined: 10 Nov 2010
Posts: 62
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| Post: #683 Posted: Tue May 24, 2011 12:20 pm Post subject: |
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Dear Sumesh,
I don't track TCS. Taking your word that USP was 1157.9, TCS entered downswing by breaking the USP on 23-May-11 in 09.30 candle itself. DSP is 1182.6, the highest point between USP and candle in which it was broken.
It remains the same as of now (24-May-11,11.45 candle).
Price made low of 1150 after pivot break. There were bearish rejections before making this low but RSI(5) did not go to OB, so cannot change DSP.
Today RSI(5) became OB, corresponding candle high was 1172.8 and rejection happened in 11.45 candle. If price goes below 1150 (c.c. below 1150 not required), new DSP will be 1172.8.
Thanks,
Prabhakar.
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sumesh_sol
Brown Belt
Joined: 06 Jun 2010
Posts: 2344
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| Post: #684 Posted: Tue May 24, 2011 12:30 pm Post subject: |
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| vvsp wrote: | Dear Sumesh,
I don't track TCS. Taking your word that USP was 1157.9, TCS entered downswing by breaking the USP on 23-May-11 in 09.30 candle itself. DSP is 1182.6, the highest point between USP and candle in which it was broken.
It remains the same as of now (24-May-11,11.45 candle).
Price made low of 1150 after pivot break. There were bearish rejections before making this low but RSI(5) did not go to OB, so cannot change DSP.
Today RSI(5) became OB, corresponding candle high was 1172.8 and rejection happened in 11.45 candle. If price goes below 1150 (c.c. below 1150 not required), new DSP will be 1172.8.
Thanks,
Prabhakar. |
What a lovely explaination Prabhakar...Best thing is I understood why we didn't change DSP t0 1170.5 !
Only one point u said
"TCS entered downswing by breaking the USP on 23-May-11 in 09.30 candle itself"
But as per spec sir, for pivot to be considered as broken, there should be a candle which closes BELOW that pivot level, and also the close should be below previous level..
Can we relax these 2 rules here.. ? (In any case 1:00 candle fullfilled these two conditions also.).
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vvsp
White Belt
Joined: 10 Nov 2010
Posts: 62
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| Post: #685 Posted: Tue May 24, 2011 12:46 pm Post subject: |
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Sumesh,
"But as per spec sir, for pivot to be considered as broken, there should be a candle which closes BELOW that pivot level, and also the close should be below previous level.."
I don't remember reading this in Spec's strategy. Please post the relevant part.
Thanks,
Prabhakar.
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sumesh_sol
Brown Belt
Joined: 06 Jun 2010
Posts: 2344
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| Post: #686 Posted: Tue May 24, 2011 12:51 pm Post subject: |
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| vvsp wrote: | Sumesh,
"But as per spec sir, for pivot to be considered as broken, there should be a candle which closes BELOW that pivot level, and also the close should be below previous level.."
I don't remember reading this in Spec's strategy. Please post the relevant part.
Thanks,
Prabhakar. |
Please find below his spec sir's version, which he has mentioned in other thread.. (http://www.icharts.in/forum/entry-exit-and-stop-loss-guidelines-swing-pivots-system-t2269.html)
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Entry and Stop loss
Technique #1: (Recommended technique)
(i) For upside reversal wait for a green candle which closes above the prior downswing pivot and the candle should also close above the prior candle high. Candle close above the prior candle high ensures that the momentum is in your favor. Stop loss should be below the reversal candle. If the candle is too big and requires a very big stop loss which does not suit your risk tolerance, don't take the trade. It's not the end of the world. In such cases, wait for a pullback to 34 ema and rejection to enter.
(ii) For downside reversal the rules are same. We need a red candle which closes below the prior upswing pivot and close below the prior candle low. Stop loss rules are different here. One should place the stop loss above the immediate swing high on the charts. The reason being, tops have different characteristics than bottoms. Bottoms tend to be "V" affairs. Tops are "M" affairs. Tops gets tested many times before we go down in earnest. So putting a stop above the red reversal candle will almost always result in a stop-out.
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vvsp
White Belt
Joined: 10 Nov 2010
Posts: 62
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| Post: #687 Posted: Tue May 24, 2011 12:58 pm Post subject: |
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Sumesh,
These rules are for trade entry, not for determining the trend and pivot.
Thanks,
Prabhakar.
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vinst
Black Belt
Joined: 09 Jan 2007
Posts: 3303
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| Post: #688 Posted: Wed May 25, 2011 11:22 am Post subject: |
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| NF 30min chart downswing pivot remains at 5522.
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shiva5109
White Belt
Joined: 20 Feb 2011
Posts: 2
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| Post: #689 Posted: Wed May 25, 2011 12:38 pm Post subject: Re: Swing Trading : The Speculator way |
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| shekharinvest wrote: | Hello everybody,
I have edited the archive of Jan 05, 2010 wherein Speculator has explained his Swing trading technique and attached here for easy reading.
Starting this thread so that people who have gained little knowledge about the method should share it here.
And request to the Speculator to make time available to suggest and make corrections.
I think it would be quite easy here, to go through various suggestions and updates at EOD.
SHEKHAR |
Dear spec sir , do this swing stretegy works same on commodities , and what para meters i should use , iam a full time trader in commodities plz guide sir
peace,
shiva
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jjm
White Belt
Joined: 17 Mar 2010
Posts: 411
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| Post: #690 Posted: Thu May 26, 2011 8:08 am Post subject: |
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Dear All
RIL:
Downtrending with down swing pivots
15 tf : 962.00
30 tf : 962.00
60 tf : 966.00
SBI: Down trending with down swing pivot
15 tf : 2377.95
30 tf : 2688.55
60 tf : 2688.55
Regards
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