Trading Strategies Using Technical Analysis

[SwingKing]

On Intraday Basis, this trade failed today. But the trade on the whole is still on with today's low as stop loss. Seems like a imperfect broadening formation. More than Technicals, the inherent nature of markets in current phase (volatility) makes it more probable to see such formation. That is, markets being volatile in a Range.

Also, this is a classic example of Bias. In the afternoon I was thinking of this as a channel. Now, I am looking at it as Broadening formation. So, because I am looking to go Swing Long, I might be getting biased. Why am I still looking at it then? Because I am relying on instincts here but with proper SL.

Tc

 

[BIJU ABRAHAM]

On Intraday Basis, this trade failed today. But the trade on the whole is still on with today's low as stop loss. Seems like a imperfect broadening formation. More than Technicals, the inherent nature of markets in current phase (volatility) makes it more probable to see such formation. That is, markets being volatile in a Range.

Also, this is a classic example of Bias. In the afternoon I was thinking of this as a channel. Now, I am looking at it as Broadening formation. So, because I am looking to go Swing Long, I might be getting biased. Why am I still looking at it then? Because I am relying on instincts here but with proper SL.

Tc

Dear Raunak
Can u go through broadening formations bit more deeper?How can we trade it?I have a little know how on it,but I value ur in depth knowledge and observations.If time schedule permits or in the weekend

 

[SwingKing]

Dear Raunak
Can u go through broadening formations bit more deeper?How can we trade it?I have a little know how on it,but I value ur in depth knowledge and observations.If time schedule permits or in the weekend

Sure. No problem.

Just remind me on Friday if you can.

Tc

 

[spacenoxx]

Raunakji,

The opening atleast looks like your 'instinct' regarding Broadening Formation may be correct. As Nifty is is bouncing of the support line.

I would like to know how one predicts a breakout/down in this formation or one simply follows a strict SL at the Support/Resistance lines?

 

[SwingKing]

Raunakji,

The opening atleast looks like your 'instinct' regarding Broadening Formation may be correct. As Nifty is is bouncing of the support line.

I would like to know how one predicts a breakout/down in this formation or one simply follows a strict SL at the Support/Resistance lines?

Chaitanya,

Its too early to say if its correct or not. Lets see.

I belong to the Paul Tudor Jones school of thought in volatile markets and hence I try to bottom fish every now and then with small quantities. I know its risky to bottom fish, but its not that it can't be done. Once I see I am right, I build aggressive positions.

Regarding prediction, I don't know what to say. It is more of Instincts which take over in bottom fishing along with some supplementary evidence ( in this case a probable channel or broadening formation). Usually I don't trade patterns or indicators, but in bottom fishing, sometimes patterns play out well.

Your view about keeping SL tight and trying to fish is right in its own way. But most of the times stops would be hit. After descent amount of screen time, intuition plays a major role in everything.

Just to clarify,

In non Volatile markets, I am a Trend follower.
In Highly Volatile markets, I am a Bottom Fisher.

Tc

P.S. - If I were to guess, markets will turn red today or will turn flat. That's when I will decide to enter. Just a guess.

 

[kalyanisalem]

Hi Raunakagarwal,

Congrats for becoming a Moderator.

All the Best..

Tc.

 

[vishwasnawale]

Congrats, Raunak Sir :thumb:
you deserve it, all the best

 

[twist]

Congrats Raunak, All The Best Bro :clap:

 

[rrmhatre72]

Congrats Raunak

 

[Gang123]

RAunak Sir,

I know that you will 100% believe if I tell you like " Gangadharan is the most happiest man under the sky for Raunak Agarwal becoming a moderator in Traderji." Many many crores of congradulations.

Thank you for being with us as a mentor & teacher in the past and more beautifully as a moderator in the future also.

The very best Wishes,

Gangadharan:thumb::clapping::clapping: