iCharts Discussions

[sumesh_sol]

Dear Friends,

For a long time, I have been wishing someone starts a new thread on trading STOCKs using spec sir's rejection method, as there are many active users around in the thread initiated by our beloved Speculator sir who only wish to concentrate on Nifty movements. I fully appreciate and respect their concern.

However, as no one has come forward, I am starting this thread with permission from Spec sir to invite all ichartian friends (especially Jai, Rainbow, JJM) to inform any new developing trend and updating pivots so that if any of us is missing the Stock, we can "catch the bus early".

This will also clarify many doubts with respect to correct use of the technique.

To begin with I had entered in a trade GAIL upon breaking Low side pivot few days back, the trend is still on.. The entry and other points are marked in the attached chart.

As and when any new setup occurs for fresh entry I shall post and request all my senior and experienced friends for the same.

Thanks and Regards,
Sumesh

[sumesh_sol]

BAJAJ-AUTO ...15tf
*********************

Please see attached chart of BAJAJ-AUTO on 15 tf. It has clearly broken Upside Pivot and not fresh Short can be taken on rejection from 34 ema with SL of swing high..

Please comment on the same..

Thanks & Regards,
Sumesh

[Allwell]

Bajaj Auto : perfect chart sumesh.....

[nonchalant zooid]

Jai,pls confirm the pivots

[nonchalant zooid]

sumesh,

Nice effort. should be useful to all spec system followers. .

Sudaya3

[nonchalant zooid]

sbin made a new pivot in 5tf

[sumesh_sol]

[Jai2000]

Sumesh,

Hello friend

a.) First of all, did I get the overall picture correctly, or am I missing on something ?

Your chart & pivots are correct. This kind of move- (crosing Trend directly without making new Pivot)will happen very rarely. In real, i met 2 times this kind of situation last 14 months(Nifty). But you have to note onething pivot didnt taken out by GAP.And there's no down side rejection too!If you are intrested to trade direct pivot cross, then use Breakout candle's (which candle take the pivot) high/ low or 2*ATR.

b.) Now with this Down pivot also gone in a single day, what is Upside pivot now ? Is it 1313.55 (marked as SL1) OR 1356.45 (marked as SL2) ?


Sumesh Lowest point should be the pivot.So in this case it's 1313.55.

( Sumesh to avoid this kind of situation try to track one more TF, 30 or 5- but always stick with one TF for trading. @ Bajaj 30Tf was in uptrend & 1344.70 was 5Tf's dwn swing pivot.)

Thanks & Regards,
Jai

[sumesh_sol]

[jjm]

Dear All

At last RIL broke DSP

Now trending up with upswing pivots

15 tf : 898.70
30 tf : 898.70

Sbin still no changes down trending with down swing pivots
15 tf : 2358.20
30 tf : 2688.55

Regards,

JJM

[nonchalant zooid]

Sbin still no changes down trending with down swing pivots
15 tf : 2358.20

I find my pivots to be different from jjm's,jai can u pls confirm?

[jjm]

Dear Sudaya,,

Hi

Requested to name your attachments with tf like sbin_15tf . _ 30 tf / 5 TF so that it will be easy to understand the set up..

Pivot you have considered at no 1. did not touch 34 ema nor rsi 5 was OB so I did not considered it as a DSP..

Let Jai throw some light on this

Regards,

JJM

[Jai2000]

Sumesh hello,

Jai -Lowest point should be the pivot.So in this case it's 1313.55.

Sumesh-On Downside pivot break, spec sir had mentioned SL could be low of most significant candle which broken the pivot .

I'm talking about PIVOT and you are explaining for SL.SL is yr choise.You can use anyone as per yr money risk.But Pivot should be only one.There's no IF and BUT s!

Jai-Sumesh to avoid this kind of situation try to track one more TF, 30 or 5- but always stick with one TF for trading

Sumesh-If I stick to only one time frame, and take my entry /exit based on that only, how can I avoid my SL getting hit by following another TF ?

Pls Re-read my msg.That's my suggestion only.I'm not saying to follow all TF.Just track if possible.Here the benefit of MULTI TF Pivot tracking.As per yesterday's view- 30 Tf was in uptrend &15,5 Tfs were in down trend.If u r a 30Tf follower yr entry would hav been @ 1339 long -day's high 1374. If u r a 15Tf trader then no trade signal for you. If u a r 5Tf trader then yr entry @ 1344.75 long direct pivot cross. There's no SL for any TF trader. That's my Point.
Jai-But you have to note onething pivot didnt taken out by GAP :
Sumesh- Now, this GAP is a new addition ?

No addition.You didnt get my msg correctly.What i wanted to say is the 15Tf down swing pivot which was 1364.80 didnt taken out at open!.

Regards,
Jai

[Jai2000]

Sudaya,

hi,
JJM-Pivot you have considered at no 1. did not touch 34 ema nor rsi 5 was OB so I did not considered it as a DSP..
that's my point too.I can consider that point as a 5Tf pivot only.

Jai.

[nonchalant zooid]

Thanks Jai and jjm