iCharts Discussions

[ConMan]

DLF looking good in 60mins ...

Factors:

1. Close above S1 Weekly
2. Close above23.6% of the recent fall....
3. RSI Divergence
4. ADX above 50 ....

Hope this shoots ... Targets are

327-334-342-351-365 ...

Regards

[kanna]

CP, I also use Pivot pts. with only one additional condition. if i am trading hourly charts, I will trade only long signals in pivot pts, when it is above 34 ema. and if it is below 34 ema , i will trade only short signals. this helps. Just a thought

[Ravi_S]

Kanna,

This is an excellent strategy by itself... If you have a look at DMA, it reverses when the price goes below 34 ema and above 34 ema. So short when it's below 34 ema during a pullback and long when it's above 34 ema..

Regards
Ravi

[ConMan]

Thanks Kanna and Ravi... It would be good if you can illustrate with examples.

[kanna]

As per the strategy, we will buy when we get a green candle above PP with candle close below PP as Stop. Now in this DLF hourly chart attached , we would have go long in all the UP arrows and would have closed the longs with down arrows. ie, getting whip shawed.

If we follow, no buying below 34 ema, all this trades would have been avoided.

I am 100% sure that you are not going to trade like this , all signals. But may be for newbies like me it will be little difficult to choose signals. So i impose this myself

[kanna]

shorted reliance DEC future at 1024.75 . with stop of 10 pts. there are so many resistances at this level.

Weekly pivot
Hourly 34 EMA
Monthly support 1
50% retracement of last swing

Hence a try. If Stop hit and price closes above 34 we can try a long also

[kanna]

covered reliance for 25 pts profit as 61.8% fibo level achieved. will short again on a bounce back. My feeling is it will go to 963 levels

[ConMan]

Good Work Kanna

Keep posting more and more illustrations

[kanna]

963 achieved and bounced back

[ConMan]

After tumultous last month ... lets hope for a good month with PP ....

The levels for Nifty are

R1 6248
PP 5988
S1 5626

We might be going around PP for a couple of days ... if we see a strong close today above PP we can go long....

Lets wait and watch

[yawalkar]

[ConMan]

Hi yawalkar

You see a small graph kind of option next to timeframe menu (daily/60mins/5min) ... in that please change the intraday setup to 25 days and then save the same by pressing 2nd button (floppy) on the left bottom

[yawalkar]

[ravionlinek]

ChulbulPandey sir

LT dekha kya can we go for 2150

[ConMan]

Hi Ravi

A close above 2029 today EoD can give us an upside of 5% ... its already trading above R1 weekly....

Regards