Nifty Intraday Pivot Points

[Dawood]

Lalit, there is so much I love about trading. Many think you need all the elaborate information and FA knowledge to make a trade. That can be encumbersome when you think how smart someone would have to be just to make a trade.
I think it is neat just to look at a chart and say, "Okay, Nifty is headed to circa 5639, then it will rest for awhile, and then be back on its journey to 5687." And then, you just sit back and watch it happen.
I closed 2 of my positions on the AUD/CHF. All I did was press the "buy" button twice, and then press the "close" button, and then I got over 200 pips, which converts into money. Go figure!

But, yes. Straight north to 5639. Stops off for more gas, and then presses on to 5687.

How you got this 5639 and 5687.... please teach us:!

 

[4xpipcounter]

5639 is the current cloud top (Price is currently inside the cloud.). It is also worth mentioning that the WR3 is 5634, so that area is a nice confluence for this week.
5687 is the leveled weekly kijun. When the kijun levels after a strong trend, it becomes strong R on a correction. It does not mean that it could not be spiked through. But, watch happens after it gets hit. It will have similar attributes as the cloud when it got hit after the long DOWN. The candle, in the case of the kijun, will close under it. My MR1 is 5661. There is 219 points between reference points this month, so 26 points is extremely nominal.
Reminds me of something else. My weeklies, more often than not have pinpoint accuracy, as has already been witnessed on this thread. The monthlies, yearlies, and decades are also very accurate, but do not have the same ability to pinpoint the figure like weeklies do. My alarm goes off when one of those levels is hit, but spikes could be stronger.
What will probably happen is that the MR1 gets hit, continues to the weekly kijun, then get a strong bounce, and then you end up with a long wick on the 4-hour candle. There are other variables.
LOL, our methodology might be our crystal ball, but we are only human, so we can't say absolutely how it will turn out.

How you got this 5639 and 5687.... please teach us:!

 

[Dawood]

Dear 4xp as am a eager learner please clarify.... My gci chart shows weekly kijun at 5756. The candles are inside the cloud in 4H chart. 5639 is the cloud top of which TF? Iam trading based on your levels only but still want to learn something from experts.

 

[4xpipcounter]

Danwood, thank-you very much for bringing that up! I created the confusion. You are right. The level I'm looking at is the tenken at 5687. The principle with the tenken is the same as the kijun. It is straightlined, which is solid R.
Sorry for the confusion.

Dear 4xp as am a eager learner please clarify.... My gci chart shows weekly kijun at 5756. The candles are inside the cloud in 4H chart. 5639 is the cloud top of which TF? Iam trading based on your levels only but still want to learn something from experts.

 

[Dawood]

Danwood, thank-you very much for bringing that up! I created the confusion. You are right. The level I'm looking at is the tenken at 5687. The principle with the tenken is the same as the kijun. It is straightlined, which is solid R.
Sorry for the confusion.

Thanks for the concern. Please clear one more thing, as mentioned in your post 5639 is the current cloud top (Price is currently inside the cloud.)......in which TF does it happened?

 

[4xpipcounter]

It is the 4-hour.

I got enough trades up, and they are set-and-forget. I'm going to be gone a little bit, so I will be bowing out until Saturday.

For the rest of the week, expect the top of the 4-hour cloud to contain the UP. It looks doubtful it will be broken this week.

 

[4xpipcounter]

Here are the weeklies for next week:
5857, 5714, 5628, 5459, 5371, 5228.

Last week, I mentioned that a break into the 4-hour cloud would lead us to the top, but the top has not been touched yet. This might lead to some sideways action, but the WR1 at 5628 looks like containment for the week. That could put the WS2 at 5371 on the radar for the week. With the 4-hour cloud thinning out into the future this could mean an easy break out of it as we head to our MT target of the weekly tenken at 5687, and possibly the kijun at 5756.

Just another point with regards to my monthlies and a cursory look for the rest of the month, even though nothing is confirmed. The month is still young, so there is plenty of time for a move UP to the MR1 at 5661, and that looks radarish. What is not confirmed but looks likely is that circa area (Remember the weekly tenken and kijun scenarios.) would be containment, and that being the case, then we could get a move to the MS2 at 5032.

 

[Dawood]

4XPIP Thanks for your valuable post, will be watching for this levels. But due to some serious political happenings on saturday night let us see how the market reacts to the fundamental versus technicals in the coming week.

 

[4xpipcounter]

It will be interesting to watch, as you'll notice fundamental information creates spikes in the markets, but the market movements are confined to the overall technical scope of things.

4XPIP Thanks for your valuable post, will be watching for this levels. But due to some serious political happenings on saturday night let us see how the market reacts to the fundamental versus technicals in the coming week.

 

[2021]

Here are the weeklies for next week:
5857, 5714, 5628, 5459, 5371, 5228.

Last week, I mentioned that a break into the 4-hour cloud would lead us to the top, but the top has not been touched yet. This might lead to some sideways action, but the WR1 at 5628 looks like containment for the week. That could put the WS2 at 5371 on the radar for the week. With the 4-hour cloud thinning out into the future this could mean an easy break out of it as we head to our MT target of the weekly tenken at 5687, and possibly the kijun at 5756.

Just another point with regards to my monthlies and a cursory look for the rest of the month, even though nothing is confirmed. The month is still young, so there is plenty of time for a move UP to the MR1 at 5661, and that looks radarish. What is not confirmed but looks likely is that circa area (Remember the weekly tenken and kijun scenarios.) would be containment, and that being the case, then we could get a move to the MS2 at 5032.

This is freaking awesme! Your WS2 AND WS3 match exactly on today's closing pivot levels. And that too on a volatile trading day when chasing up or down is not so easy.

What's your take now since WSs are matching and trend looks bearish fundamentally (crude/Saudi Arab/Gold/US releasing reserve for oil/political turmoil in India) and no sign of OS/OB or fresh long/shorts from 2-3 sessions. Is it better to stay away from trading till trend is set?

And finally, any chance of gold coming to 1320-1330-1340 levels again in your charts? I sold all my etfs at 1350 levels.