Please friend dont post anybody on this thread , i just copy and paste forum post here for my personal read.
Below post from varunji post (credit goes to varunji)
Kumudhan ji and others, i can understand your dilemma. You are all always confused, what to use when. When to use 36EMA/200EMA/LV bar... etc. Let me try to simplify it for you. There is a popular saying Horses for courses. One thing that you need to be focussed on is that we are primarily trading of price and volumes (OBV). Now let us talk about the LV bar concept why it gets formed was made very clear earlier on. Now the concept of BO/BD from LV bar amounts to wresting control from the other camp (Bulls and Bears) by either of them. There are 2 types of BO/BD one is price and the other is OBV they both may be linked but they are different. If we see addition of OBV from LV bar then it shows BO. Now OBV (as i have many times said) is truer. Meaning that once it BO/BD it stays that way for some time (Most often the rest of the day after the final LV bar gets formed) but many times we see the Price LV bar tested and sometimes breached after BO. (Price is fickle) at that time you have to take cue from the OBV LV bar line to enter longs again when strength in price resumes. The LV bar/PDC/36EMA/200EMA/Channels/Hourly bands...etc are just parameters to gauge the strength/weakness of price/OBV. That is what we are doing in all our methods, to analyse this strength/weakness and take trades.
varunkochhar,
We take the help of the nearest parameter to determine the strength and weakness of the underlying. These LVB/PDC/36EMA... may be looked upon as supports and resistances. Some of these like LVB/PDC/LVB are fixed S and R whereas the EMA's are dynamic S an R (as they are not constant in value and keep going up or down).
Below post from varunji post (credit goes to varunji)
Kumudhan ji and others, i can understand your dilemma. You are all always confused, what to use when. When to use 36EMA/200EMA/LV bar... etc. Let me try to simplify it for you. There is a popular saying Horses for courses. One thing that you need to be focussed on is that we are primarily trading of price and volumes (OBV). Now let us talk about the LV bar concept why it gets formed was made very clear earlier on. Now the concept of BO/BD from LV bar amounts to wresting control from the other camp (Bulls and Bears) by either of them. There are 2 types of BO/BD one is price and the other is OBV they both may be linked but they are different. If we see addition of OBV from LV bar then it shows BO. Now OBV (as i have many times said) is truer. Meaning that once it BO/BD it stays that way for some time (Most often the rest of the day after the final LV bar gets formed) but many times we see the Price LV bar tested and sometimes breached after BO. (Price is fickle) at that time you have to take cue from the OBV LV bar line to enter longs again when strength in price resumes. The LV bar/PDC/36EMA/200EMA/Channels/Hourly bands...etc are just parameters to gauge the strength/weakness of price/OBV. That is what we are doing in all our methods, to analyse this strength/weakness and take trades.
varunkochhar,
We take the help of the nearest parameter to determine the strength and weakness of the underlying. These LVB/PDC/36EMA... may be looked upon as supports and resistances. Some of these like LVB/PDC/LVB are fixed S and R whereas the EMA's are dynamic S an R (as they are not constant in value and keep going up or down).