iCharts Discussions

[shekharinvest]

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

[mayurnsk]

Hi shekharinvest


Nice work. I always like to thank people who make some effort to post in forum something real good about trading. Its encouraging efforts from you. Just keep it up.
Lets hope ichartians would come up in this thread to disscuss real swinging things about trading after reading your file.

Once again thanking you for making such effort for posting in forum.

Regards
Mayuresh Jahagirdar
Nasik
Maharashtra

[shekharinvest]

Hi,

Posted below is today's chart detailing all the action.

Current position is short with SL 5246, which happen to be the the point where we turn to Longs.

If tomorrow NF make a new low that is, it goes below 5196 then 5232 will be the New swing Pivot, we bring down SL to 5232 and reverse to Long from there.


Hope I have understood correctly.


SHEKHAR

[shekharinvest]

[Speculator]

Firstly thanks to Shekharinvest for investing his time in preparing this document. I updated the document, removed some unwanted comments and added a section on stop loss management.

Enjoy !

Naveen Swamy
A.K.A Speculator

[sandew]

Thank You Shekhar. We look forward to your daily posts for at least few more days. We appreciate your efforts. and those of Speculator.

[smsmss]

hello shekhar great work done buddy....it will be very helpful for the people to get to know swing trading better..and of course spec is there to guide us all..

[mayurnsk]

[varun_alld]

...on 18 dec the swing pivot of 5048 was established because after rejection on 5048 nifty made a new low of 4975...

...now on 21 dec nifty made a further low of 4938 at around 3:15 PM?why was the swing pivot not changed from 5048 to 4988.55?? since 4988 was the closest rejection from 34 EMA on 21st dec....before nifty made a new low of 4938..???

if this 4988 swing pivot had been declared then spec's next day (22 dec) move would have been justified??..

Am i right??

[shekharinvest]

Hi,

Not much action on Pivots front. Swing pivot still at 5232. Current position is still short, if not booked at ones discretion.


SHEKHAR

[shekharinvest]

[shekharinvest]

Hi,

Today price was rejected from 34 EMA and the RSI was overbought, hence fresh short was created after the first red candle @ 5040 with SL at the high of the green candle 5074. Please note we do not reverse above 5074 as of now.


Although, I have covered my shorts at the day end as I do not carry trades at the weekend. Need to learn hedging from Speculator ! As per setup short trade to be carried.

SHEKHAR

[varun_alld]

just keep updating this FORUM on a daily basis ...

and doo keep on pasting these charts on daily basis...

This would really help us all on a long term basis

CHEERSSS!!!!!!!!!!

[shekharinvest]

Hi,

Those who were short from 5247, and the ones who created fresh shorts at 5040 should have closed their shorts @ 4990-95 at close of 10:45 candle.

As the RSI came out of the OS and price failed to make new low, indicating sideways move for the time being.

2:15 candle has closed above 34 next candle came close to 34 and got rejected in the next green candle hence the setup type - 2 is ready for long @ 5025 -15 during 3:00 pm candle with SL at swing low 4976. Now sincerely pray.

If on Wednesday price manages to close above 34 EMA without breaching 4976 swing reversal to the upside is confirmed.

SHEKHAR

[shekharinvest]

Hi,

So the buy setup failed. SL @4976 trigerred & everbody is short now. Nothing much to write about.

New swing pivot is now 5039 above which we can reverse.


SHEKHAR