Sreeny

Please let me know….

Sreeny

Posting 5 min BNF char

ST

Regards,

ST

ST

Smart_trade

Great going everyone!

Saint

Hemant

ST

covered BNF short at 4286 and booked 119 point

Hemant…. any particular reason for covering all shorts at this level ? please guide.
Thanks in advance.
Manoj

Flock

Thanks

Please do put down the info regarding interpreting doji or link to write up on the same.

Saint Sir,

Any reason for selecting TATA STEEL. Can you give some info on stock selection for ambush trading.

Rgds.

A dozi can be classified in three categories 1. perfect dozi where opening and closing are exactly at the middle (50%) of hi and lo. 2. This category is where the opening and closing is at lower one third of hi and lo. 3. Last is when it is at the upper one third of Hi and lo of the dozi bar.

Now whenever you encounter dozi of the type 2 and 3 or hammers of this type in a trend then 85% of the time immediate preceding trend will change direction in next upto 5 bars.

I have observed this many times and very rarely it fails. You may check this out yourself by eyeballing the charts. Please note if you are seeing 5 min TF then next bars should also be of 5 min i.e., TF integrity has to be maintained.

Bee

We all trade our views,dont we ? After a WRB mkt retracing almost 95 % of that WRB…pretty bad sign for shorts….I had seen the long legged doji…after doji,mkt remained there and did not crack….upto 11:55 it was looking as if mkt is making a higher bottom and going up…..and hence that decision was right that time… now what mkt does is something different,for me a scratch trade is much better than a loss if I sense trouble,I am the first one to run…

ST

Bee.. waiting for your informative article. Please put it here or give its link.

Thanks

I may be wrong and you have vast experience in trading. After the WRB (BNF) the bullish bars were smallish and limping and after that a doji. This dozi signifies an end to the previous immediate trend i.e., last 3 bullish bars will now turn bearish either immediately after the dozi or after one or two bars (I will put up an interesting passage on gravestone doji and dragonfly doji for ambush traders to track first and then trade, if they like the idea).

Plus a strong downtrend on 60 min also indicates some patience in holding shorts. My views.

Bee

PS: I recognise the fact that you entered late in this short and covered it to protect your position.

After a WRB,mkt came up almost 60 points…also after long legged doji of 11:15 mkt did not go down….not good signs for short positions….so take whatever profits we can and close the position.
No point in loosing 30 points in stoploss,when the mkt action is not right…

ST

Trade was initiated a bit late….also mkt came up strongly….

ST

ST

ST

ST

Regards
Manoj

is it ok to go long in tatasteel at 10:10 high

Dear Saint
We will go only short as of now. Am I correct?

LVG-ji, :)

I have learned differently. I think Saint, ST sir, MJ, they enter over the first 5 min pivot in whichever direction. If stopped out, then they trade only in the direction of hourly unless there is some solid pattern/tfa/BOF or a TL break etc.

Pls correct my view. Pls PM me if you feel our conversation is taking up space.

MJ's, in one of his recent posts, said to make your own method (should included important things like adds and proper exits). Thats ambush. I concluded that, if I am doing it corrently then I will, eventually, end-up trading like Saint :)

Amit.