iCharts Discussions

[rvg]

[ramesh_sil]

Spec,

I appreciate your hardwork in educating us in the swing trading. I am using this for the last 1 month and it is giving great results. Excellent work.

Special Thanks to Sekharinvest for documenting the strategy.

I trade in RNRL. Today the stock went up 4 % in few minutes. I would like to get your insight on trading such moves. Normally I use swing pivot to exit trade and use the price rejection strategy to enter the trade. Previously I bought RNRL @ 61 and sold around 65.

[Speculator]

Swing pivot on Nifty moves to 5105.50. The uptrend continues. As long as we continue to hold above the swing pivot, look for opportunities to go long on rejections, especially on those stocks which are oversold and holding above their swing pivots. Yesterday i mentioned a few - Tatamotors, TataSteel, ABAN etc. They all broke out above ther swing pivots yesterday. Today look for a pullback to 34 and rejection to go long on these stocks.

[smsmss]

Thanxxx a ton Spec for the insights, we really appreciate it........

[shekharinvest]

ramesh_sil,


Please have a look on the chart posted below TF 30 min EMA 34.

RNRL has failed to give a close above Swing pivot which is at 64 now. You can enter once it closes above. If you wish you can also enter even if it fails to close above 64 and take a pull back to EMA 34 but that that entry might be against the trend and you sincerely need to pray for trend to resume upward that is price moves past 64.


Untill now there is no valid entry for longs. Forget about that 4% move at most that might have taken out your SL - had you been in short position.


SHEKHAR

[swaroopbn]

Hi Specs,

I have a question. Could you please answer - please refer the attached chart of ABAN.

Rgds,
SW

[shekharinvest]

SW,

Nice to see you taking keen interest in Spec's swing. Hope we will be enlightened by your experience.

Probably you missed, Spec was explaining the strategy to enter longs when the price has not taken out the pivot, using STS & 13 EMA on Hrly chart. That chart is Hrly with 13 EMA.

I am posting below 30 min charts with 34 ema and pivot marked.


Hope this clarify.

Still there is a question for Spec. posted on chart.
Is it that there is no candle close above previous high ?


SHEKHAR

PS: Pl. ignore the indicators they are set to my default.

[shekharinvest]

Hi,

Posted below couple of charts.

TF: 30min and EMA 34 for all.

SHEKHAR

[sandew]

Shekharinvest, You hv written below " Probably you missed, Spec was explaining the strategy to enter longs when the price has not taken out the pivot, using STS & 13 EMA on Hrly chart."

I too missed the same; can you please post a chart or two on this , that i think should be fine.

Thank You for your hard work.

[swaroopbn]

Thanks Shekhar

Well the pivots will change when we change timeframe and EMA values. But considering 60 Min and 13 EMA the price pivot is still the one mentioned by me and ABAN is in SELL mode after we broke that level.

I am a novice in TA and wish to keep it simple as far as possible.

Regarding your question to Specs - we don't consider a new high point until a candle close happens above the previous high. In fact you only answered the question by yourself.

Rgds,
SW

PS - Please refer the attached chart.

[smsmss]

Hello Everyone!

looks like Spec has to answer many questions this time..

shekhar i too missed the explanation on sts and 13 ema...

btw posting chart of TCS...literally minted money on this one...

entered late as mentioned in chart but with a small SL...and Bammmm the price flew...

[ramesh_sil]

Sekhar,Thanks for your insights on RNRL.

[Speculator]

Guys,

Interesting discussion below on ABAN. I never recommned entering long when we are in a downtrend.

Just to be clear, 30-min can be on a downtrend, while 60-min can be on an uptrend, as in case of ABAN. I am using 34 ema in both cases. ABAN 30-min entered a downtrend after breaking the 1272 pivot. So one should be short if they are using 30-min charts. On the other hand, 60-min upswing pivot is at 1192 which is not yet broken. So those trading 60-min charts should be looking for long oportunity on any valid rejection from 34.

Do not mix timeframes. Remain consistent with the timeframe you trade in.

-Speculator

[girishhu1]

shekharinvestorji/speculatorji,
the 34 ema for hourly charts is available for only 4-5 days on i-charts.hence i am not able to decide the upswing and downswing pivots. kindly guide, pl.

[shekharinvest]