Karthik's EOD Strategy based on INSIDE BAR

[rkkarnani]

How about trading with Candle Stick Pattern!

1). Engulfing (Bullish/Bearish)
2). Shooting Star (Morning/Evening)
3). Inside Bar

Let's discuss and post chart related to the above pattern. I have already started analysing "Inside Bar". Its so simple and gives good retrun (especially EOD)!

Karthik

http://www.traderji.com/technical-analysis/77439-karthiks-eod-strategy-32.html#post770104

 

[rkkarnani]

Inside Bar Trading

Setup: Identify Inside Bar (i.e candle/bar inside the range of previous day)

1). Draw the High & Low of the candle/bar
2). Wait for the candle/bar to close below (in case of low) & above (in case of High) of the Mother candle.
3). When the candle closed above the High, place buy order above (0.10% above high) the high price. Here 0.10% from the high price is to avoid wrong trade. The reverse holds good for when the candle closed below the Low.
4). Target: In case of Long: The High price of mother candle and Low price of candle closing below to be taken. Calculate the difference of High-Low and from that difference 50% would be the target. Reverse is for Short.
5). SL: Same 50% difference

The above is explained in the chart for better understanding.

ACC-I

1). Inside Bar occured on 03.01.13 & 04.01.13 (circled in Red)
2). High : 1464.30 & Low: 1444.70
3). 07.01.13 breached the High/Low and closed at 1427.45 (which means go short). The Low is 1425.10
4). 08.01.13 open sell order @ 1423.70 (i.e. 1425.10 less 0.10%)
5). Difference between High/Low (Mother candle High & Triger candle Low : 1464.30 - 1425.10 = 39.20 & 50% of 39.20 is 19.60)
6). Stop Loss : 1425.10 + 19.60 = 1444.70
7). Profit Target : 1423.70 - 19.60 = 1404.10
8). Risk Reward Ratio : 1:1

http://imageshack.us/a/img208/300/acci.png

Karthik

http://www.traderji.com/technical-analysis/77439-karthiks-eod-strategy-32.html#post770159

 

[rkkarnani]

Thanks you Karthik for yet another simple strategy !


Stocks in FnO making Inside day on 7th Feb, Thursday 2013 !

DIVISLAB
INDHOTEL
ITC
JISLJALEQS
JINDALSTEL
KOTAKBANK
MARUTI
NHPC
TTKPRESTIG
ULTRACEMCO
YESBANK

Check out what they did on Friday to trade them on Monday !

 

[rkkarnani]

Maybe of interest :
http://www.traderji.com/amibroker/27974-afl-inside-bar-breakout-required.html


http://www.traderji.com/metastock/1970-inside-day-equis-breakout-metastock-formula.html

 

[rkkarnani]

Inside bars formed in FnO space on Friday 8th Feb, we need to wait for the price action on 11th Feb Monday and then decide on Trades !

ADANIPORTS
BANKINDIA
BHARTIARTL
CHAMBLFERT
HDFC
IDBI
IDEA
IFCI
JPPOWER
LUPIN
MCLEODRUSS
PANTALOONR
TATAGLOBAL
TITAN
TTKPRESTIG
MCDOWELL-N
YESBANK

 

[rkkarnani]

Wondering aloud : Can this strategy of entry and SL be followed in the NR7 set up?
http://www.traderji.com/advanced-trading-strategies/29825-trading-nr7-setup.html

 

[rkkarnani]

Thanks you Karthik for yet another simple strategy !


Stocks in FnO making Inside day on 7th Feb, Thursday 2013 !

DIVISLAB
INDHOTEL
ITC
JISLJALEQS
JINDALSTEL
KOTAKBANK
MARUTI
NHPC
TTKPRESTIG
ULTRACEMCO
YESBANK

Check out what they did on Friday to trade them on Monday !

Movement on Friday 8th Feb :

DIVISLAB : Both side breach, but within the range of earlier bar on 6th
INDHOTEL: Both side breach.
ITC: Both side breach
JISLJALEQS : Breached the low, but all the bars after 5th Feb bar are within its range, making an IDNR4 !
JINDALSTEL: Nowhere
KOTAKBANK : Nowhere
MARUTI : Breached the low, ready for short trade.
NHPC : Nowhere
TTKPRESTIG : Was an error, removed from FnO
ULTRACEMCO: Breached the low, ready for short trade.
YESBANK : Nowhere

 

[Xitij]

Movement on Friday 8th Feb :

DIVISLAB : Both side breach, but within the range of earlier bar on 6th
INDHOTEL: Both side breach.
ITC: Both side breach
JISLJALEQS : Breached the low, but all the bars after 5th Feb bar are within its range, making an IDNR4 !
JINDALSTEL: Nowhere
KOTAKBANK : Nowhere
MARUTI : Breached the low, ready for short trade.
NHPC : Nowhere
TTKPRESTIG : Was an error, removed from FnO
ULTRACEMCO: Breached the low, ready for short trade.
YESBANK : Nowhere

rkkarnani, Can you post levels for the Stocks which are ready for trade as per this method> Say the entry, Target and SL. Please confirm if this is for a single day or position to be held for some time?

 

[karthik_sri]

rkkarnani, Can you post levels for the Stocks which are ready for trade as per this method> Say the entry, Target and SL. Please confirm if this is for a single day or position to be held for some time?

It depends on the Target achievement!
If achieved in the Trade day close the position else carry!

 

[rkkarnani]

Posting a Maruti chart, and request Karthik to comment on its correctness

All bars in chart marked ! are Inside bars.