We did close above the reqd conditions at 2:00 . But the move at 2:00 closing was toooo fast , If one would have known to take positions on break of 5230 ( upper trendine of falling wedge)then profitable/Otherwise avoid taking positions during such sharp and fast moves and wait for prices to settle down.
EOD close 5243.15
We did close above 34 ema on 30 min TF and above hour 5 ema but we did not close above hour high ema ( 5250) . Which does not suggest to take long trade .
We have closed below 5 day ema (5257).
As per me bias is -ve.
3 comments:
Hi smita,
Firstly please accept my best wishes !
U have a Nice & simple Blog L:-)
Ok, now to business: Have seen ur excel.
So basically if i have understood correctly ,ur ENTRY TRIGGER FOR
1. LONGS is : Price to CLOSE > 5DEMA, 10DEMA ,5Hr-HEMA, & 34EMA
TSL is close BELOW 5hr-HEMA ?
&
2. SHORTS is : Price to CLOSE < 5DEMA, 10DEMA ,5Hr-LEMA, & 34EMA
TSL is close ABOVE 5hr-LEMA ?
While this is logical, i feel ur system will be even better with a BOOST of DIRECTION of PRICE @ TIME OF CLOSE. I.e it doesn't take into account the DIRECTION from where price is CLOSING !!
For eg- on 26th Mar'12 @ 3:00pm
ur system , generated a sell @ price close @ 5183,
If instead of just focssing on "ANDING" of all EMA's, if one had shorted @ OPEN below prev day's closing period 34EMA (ruffly @ 5288.5) @ say 5238 @ 9:30AM, one wud have made a smooth 50 Nifty pts by 3:00 PM same day @ 5183 :-)
CORE Q TO BE ANSWERED : Why is the system generating SELL so late @ 5183??
Ans: My understanding of Shri. Illango's LOGIC behind 5Hi- Lo EMA is that they are LEAD INDICATORS
Meaning --> Look @ DIRECTION OF PRICE, if price falls from ABOVE Hi-EMA & then CLOSES BELOW it, H-EMA is saying BOSS , UP TREND MAY BE OVER
similarly,
if price Rises from BELOW Lo-EMA & then CLOSES ABOVE it, Lo-EMA is saying BOSS , DOWN TREND MAY BE OVER
We shud now use 34EMA,30mins to Re-CONFIRM this HINT being received from HrlyHi-EMA
So the logic I follow is :-
1. If prices falls from above Hi-EMA & closes below HrHi-EMA, pls check @ 34EMA , 30 mins. Once price BREAKS DOWN BELOW 34EMA , 30mins GO SHORT
&
2. If prices RISES from Below Lo-EMA & closes ABOVE HrLo-EMA, pls check @ 34EMA , 30 mins. Once price BREAKS-OUT ABOVE 34EMA , 30mins GO LONG
TSL in all trades is 21EMA, 5mins
And if price closes below DHEMA , the trade MORPHS into a SWING TRADE & then u carry it to the next day & so on to PROSPERITY !
Shri. Illango's gift is that the Hi-Lo EMA GIVES THE FIRST HINT OF DIRECTION,
We should use this Gift, & re-confirm it with 34EMA & trail it intra day with 21EMA , 5 mins
or for SWIGN TRADE, u can trail it with JNSAR, 10DEMA or SMOSAR *change in direction of 5DEMA)
Our God is one, paths are many :-)
cheers
SMO
And smita, if u dont mind can u pass on your file to me as well ... i wud like to add on to the columns & collaborate
Illango ji has too many indicators goin on in his TT,
while i prefer EMAs alone , ur file has limited COLUMNS, SMALL & SIMPLE , just right for me :-)
cheers
SMO
Hi smita,
Pls send to shriramoka@gmail.com
Its very nice to meet ppl interested in SYSTEM BASED TRADES.
It requires a gr8 sense of self-realisation & humility to detach from mental sensations like "i feel" & become ROBOTIC as a trader :-)
Best wishes
SMO
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