iCharts Discussions

[SwingTrader]

Trading Levels for 04.06.2009

[SwingTrader]

Today's 5-min NF chart with relevant levels marked

[sandew]

Hi ST,
In the SB on June 4 I had thrown in few queries since nifty hit Bull level at 13.15.
1. 13.15 target hit – profit booked.
2. 13.20 close over bull
3. 13.25 close over bull
4. 13.30 on open of bar go long with sl 4539 (2 close above bull)
5. 13.35 close below bull, but hold long
6. 13.40 2nd close below bull, but hold long, And flip to short if sl hit
7. 13.45 close below bull, but hold long, And flip to short if sl hit
8. 13.50 close below bull, but hold long, And flip to short if sl hit
9. 13.55 SL HIT, FLIP, AND NOW GO SHORT, sl 4569
10. 14.00 hold short
11. 14.05 hold short
12. 14.10 hold short
13. 14.15 close 1 above bull, hold short
14. 14.20 close below bull, hold short
15. 14.25 close below bull, hold short
16. 14.30 close below bull, hold short
17. 14.35 close 2 above bull, hit sl – question do we go flip and go long here considering it is close 2 above bull ?

I have gone step wise strictly as per trades narrated by you in various examples.
You may argue take profit and sit tight at bull. Correct
1. However, if such flip-flop was happening at beginning of trade, were the above steps correct ?
2. After 14.35, we have 2 more closes above bull, so in case we are not long on flip at 14.35 then do we go long at 14.45 or at which bar ?

Await yr reply
Sandew
June 4,2009

[Rcandle]

As i found yday mkt movement as on ST's lavel was so good.when its (2candles)close above S1 was a buy and then it crossed next lavels with long candles,that was a good sign and prefferable TSL was previous lavel,but i booked 4600ce from 106 to 156 as i am not a positional trader.
thanks ST for urs good effort

Rcandle