Once again Turtle Soup ..

[vsaran]

today is not 20 day high

 

[Xitij]

Seems I missed it ! Did he post it here ?

Yes, he did post and I traded 300 shares of it only as I wasnt sure of entry levels. Exited just now all at 358.35

 

[Xitij]

today is not 20 day high

What is not 20 day high today!????

 

[rangarajan]

the previous 20 day low was made on 3rd Jan , i.e. 20 sessions from 31st Jan at 1111. This was broken on 31st Jan intraday , price went below 1111 and then went up to trigger a Long as per Turtle Soup. It probably went upto 1122 and closed at 1120.
So today 1st Feb, I thought that this could be a valid TS+1 trade if the 1111 low is breached and then goes up to trigger a Long. The SL would be todays low less filter.

Karnaniji,
Thanks for the Chart & logic.
Posting the chart for the same stock.
It was touch & go.
As per icharts,the 20L was on Jan 2 at 1108 & Jan 3 at 1111 & hence my doubt.
Meanwhile,on Jan 7th ,it formed 20H,breached upsided & gave profit as per TS. 1184 to 1128-1109:thumb:

So,i was confused where was the set up for going Long
That too when all of u said Tplus 1.

Happy that every one made profit.

But as jamit said 20 is not a Magic no.But 1111 was not a Pivot Low either. But a Fancy no.

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[prabhsingh]

If BHEL closes below 220 then its going to break a very critical support levels and i think in coming days it can go below 210.Seniors,thoughts welcome.

 

[anup]

Guys Any other trade for today?

 

[rkkarnani]

If BHEL closes below 220 then its going to break a very critical support levels and i think in coming days it can go below 210.Seniors,thoughts welcome.

Thanks for this valuable input though it does not belong here ! I dont mind but the minimum distraction will be useful for all ! If all are comfy with these small off Turtle Soup posts I have no issues at all !

 

[anup]

Thanks for this valuable input though it does not belong here ! I dont mind but the minimum distraction will be useful for all ! If all are comfy with these small off Turtle Soup posts I have no issues at all !

I agree with you..

 

[rangarajan]

As posted by me,the Previous TS Trigger 6058,once breached ,NF came upto 6046 till now.

We could experiment with other stocks as well even for Swing.

These levels work as Fulcrum.

 

[rkkarnani]

Karnaniji,
Thanks for the Chart & logic.
Posting the chart for the same stock.
It was touch & go.
As per icharts,the 20L was on Jan 2 at 1108 & Jan 3 at 1111 & hence my doubt.
Meanwhile,on Jan 7th ,it formed 20H,breached upsided & gave profit as per TS. 1184 to 1128-1109:thumb:

So,i was confused where was the set up for going Long
That too when all of u said Tplus 1.

Happy that every one made profit.

But as jamit said 20 is not a Magic no.But 1111 was not a Pivot Low either. But a Fancy no.

Sir,
Yes it did give a good profit on 7th Jan reversing from high. It was short below previous high of 1175.55 and went down upto 1120.05 , dont think anyone could have made more than this !
It went upto 1183.85 before making a low of 1118 !
However 1108 cannot be in picture because before that the original SL of 1183.95+filter was hit ! (Just trying to point out the SL hit, in case you missed it )

Yes, 3rd Jan was exactly 20 days back .
Sir, even if we take 1108 as low, this was also hit before a Long was triggered.

20 may not be a magic number I agree, I used to trade on 60 minutes chart on the basis of 10 period Hi/Lo, that also worked fine. But one need to adhere to whatever number he decides to trade. This number cannot be changed as per our whims. That would be inviting disaster.

Thanks for your active participation.