spellingMr Anant,
For ref I have given your recommendations/ observations below :-
Originally Posted by asnavale View Post
Some of the Buy triggers Today(09-07-2012)
Code:
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| STOCK SYMBOL | COMMENTS |
|--------------|---------------------------------------------------------|
| 3IINFOTECH | Red Candle, Bar Split |
| GITANJALI | Red Candle, EMA50 flat |
| KSBPUMPS | Red Candle |
| SKSMICRO | Green Candle, Bar Split |
| UNICHEMLAB | EMA50 inside other MAs, Green Candle, Bar Splice |
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Could you be kind enough to inform us as to how to interpret the above observations . For example , " GITANJALI | Red Candle, EMA50 flat " means that we should not enter long. " EMA50 inside other MAs, Green Candle, Bar Splice | " means we should not enter. If you could provide such comments , we can learn . I hope you wont mind my suggestion because it would help new traders to learn and trade.
With Regards.
Hi,
I have explained some of the points earlier. I am repeating here:
The comments are based on some of the observations I made.
1) When EMA50 is inside, there are more chances that the trigger turns out false especially when the trigger is on a red candle and EMA50 is inside. It is not a rigid rule but an observation
2) When the trigger is on a red candle, it is advised to watch the next candle carefully before entering, if next candle also is red and even if it takes out the high of the trigger candle, better wait.
3) Buy entry should be when EMA50 is rising. If it is downwards, don't enter even if other conditions indicate a Buy. If it is flat, wait for a direction to emerge.
4) Gap Up, Bar Splice and Bar Split indicate upwards trend. However if Gap Up is with a sizeable gap, better wait till some retracement takes place and Up trend resumes.
5) If a trigger appears on a candle which is much longer than average then there are more chances of retracement. So, wait till retracement ends and trend resumes.
These are for those who are new or who panic when price falls after entry. The above comments help in avoiding a few risky entries at the cost of getting early entries. When you aim at more safety, you will sacrifice some profit.
I am compiling all these observations and planning to post the follow up actions.
-Anant