BollingerBands

[prasadam]

BTW, kammy,

NF has reached my target of 2940.

Now, we can go for lower gaps that you were mentioning.

 

[pkamalesh]

ok.

I will put it this way,

today, 10.00 AM bar is out side BB, on almost all time frames.

what should be my trading decision?

Prasad..This is the 15 min TF of NF...Have a look at the BB width thats expanding..which is what ive written in the previous post....Just check in case it got dumped..So thats one indication that we stay with the trend(UP) and not short until the bands have contracted..Now thi smight be offtopic but the SMA(3,5) also indicating a long position..This might help..

PS ERROR IN CHART: Wrongly Typed SMA indicating to remain short..Change: REMAIN LONG

 

[SavantGarde]

Hmmmm.....Night Birds Are Having Nice Discussion....

Ok, This Is Something I Had Developed & Use For Few Scrips, But Applicable Here For The Point Raised About Gap-Up & Upper BB Being Pierced, Normally One Would Go Short Immediately...Right

Right !

Then What Do We Do When It Moves Against Us...?

Rule To Follow If It Goes Against A Short Position Is That You Square Off
On The Second Consecutive Green Bar Or Candle.

If Long And Goes Against Us Then You Square Off On The Second Consecutive Red Bar Or Candle.

Does That Answer The Query Raised...?

Happy & Safe Trading

SavantGarde

 

[pkamalesh]

Thank u sir...Another alternative is to wait for a signal in a higher time frame(if we dont want to cover our positions and be certain)...Is it applicable??

 

[pkamalesh]

BTW US closing looks Yummy but still have my own doubts...

 

[SavantGarde]

Hi Kamalesh,

Trader Following This Gap-Up or Down Which Usually Happens First Thing The Market Opens & Goes Against The Trader's Position, Needs A Quick Remedial Process Which Is Available On The Same Chart.

Through The Trading Day One Would Be Safe, But It Is More Characteristic Of The Opening Trade Where It Can Runway Without Retracing.

There Are Lots Of Remedial Steps & Stuff, But Psychologically Trader Is In A Turmoil First Trade In The Morning Going Against Him, Therefore, I Suggested The Rule For Rectifying As Quickly As Possible....

Happy & Safe Trading

SavantGarde

Thank u sir...Another alternative is to wait for a signal in a higher time frame(if we dont want to cover our positions and be certain)...Is it applicable??

 

[pkamalesh]

Yes sir..I too feel many times when the first trade doesnt go ur way, you are psychologically hit and this affects ur trades all throught the day !!!

 

[pkamalesh]

Columbus bhai...Is ur TT fine???My scrip masters are not Downloading...is anyone facing similar problem??

 

[columbus]

Columbus bhai...Is ur TT fine???My scrip masters are not Downloading...is anyone facing similar problem??

My TT is fine ,please call helpline at sharekhan.

 

[columbus]

Though hardly any bands are formed in 15 min TF, it is always advisable to
look at lesser and Higher time intervals.Within in the same interval
occasionally check with SPOT nifty.