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Trading Levels for 12.05.2009 |
SwingTrader
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Location: Hyderabad, India
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Post: #1  Posted: Tue May 12, 2009 12:36 am Post subject: Trading Levels for 12.05.2009 |
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Trading Levels for 12.05.2009
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Srikanth Kurdukar
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dilesh
White Belt
Joined: 09 Aug 2008
Posts: 73
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| Post: #2 Posted: Tue May 12, 2009 3:54 pm Post subject: Excellent Levels! |
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Dear SwingTrader,
Again thanks for the superb percision of your levels. I am able to trade with great comfort with these levels. The new table format looks really nice and also appreciate that you are posting levels for other stocks.
If time permits, pl. reply to my foll. querry.
Today in Nifty-1M, at 11:45 am with two closes below the BULL level at 3574.8, I exited from my Long but did not go Short here. Can one take a reversal Short trade here with SL at 3588.
I had again entered Long at 12:10 pm at @ 3555 with SL at 3537
Regards,
Dilesh |
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SwingTrader
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Posts: 2903
Location: Hyderabad, India
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| Post: #3 Posted: Tue May 12, 2009 4:14 pm Post subject: Followup |
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Posting charts with relevant levels marked
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Srikanth Kurdukar
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SwingTrader
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Joined: 11 Aug 2006
Posts: 2903
Location: Hyderabad, India
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| Post: #4 Posted: Tue May 12, 2009 4:32 pm Post subject: Re: Excellent Levels! |
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| dilesh wrote: | Dear SwingTrader,
Again thanks for the superb percision of your levels. I am able to trade with great comfort with these levels. The new table format looks really nice and also appreciate that you are posting levels for other stocks.
If time permits, pl. reply to my foll. querry.
Today in Nifty-1M, at 11:45 am with two closes below the BULL level at 3574.8, I exited from my Long but did not go Short here. Can one take a reversal Short trade here with SL at 3588.
I had again entered Long at 12:10 pm at @ 3555 with SL at 3537
Regards,
Dilesh |
Thanks for the kind words.
About your query....I think I have not explained this point clearly in the trading guidelines. The two closes below the bull level would have been valid ONLY if price had earlier closed above the bull level. Price did not close above the bull level at the 11:40 bar (5 mins chart) so there was no valid short there.
Your long at 12:10 (an anticipatory long on a bounce off the day's "KEY LEVEL") was valid long. Though, I would have taken the trade at 12:15 bar when it confirmed the bounce with a firm move up. After that, of course, there were no short/sell signals at all for the rest of the day 
Do note that the first long signal for today was after the completion of 10:15 bar which completed two closes above LOC level.
Good Luck!!!
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Srikanth Kurdukar
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Stockhunter
White Belt
Joined: 10 Jun 2008
Posts: 193
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| Post: #5 Posted: Tue May 12, 2009 8:28 pm Post subject: |
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Excellent stuff ST sir  |
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Rcandle
White Belt
Joined: 08 Apr 2009
Posts: 7
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| Post: #6 Posted: Tue May 12, 2009 8:40 pm Post subject: |
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Bulls or Bears urs lavels will (shall) win
so icharts reader (genuine) will win
get most happyness with that
may god keep u more active |
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dilesh
White Belt
Joined: 09 Aug 2008
Posts: 73
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| Post: #7 Posted: Tue May 12, 2009 9:41 pm Post subject: Thanks |
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Dear SwingTrader,
Many thanks for the reply.. I will keep in mind the imp. points explained by you. I'm sure with more experience, I will improve my trading each day with these levels.
Cheers!
Dilesh |
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SwingTrader
Site Admin
Joined: 11 Aug 2006
Posts: 2903
Location: Hyderabad, India
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| Post: #8 Posted: Tue May 12, 2009 10:02 pm Post subject: |
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RCandle, Dilesh, SH,
Thank you very much.
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Srikanth Kurdukar
@SwingTrader |
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