1-2-3 Strategy / EOD 7th June '12

Let me start again after a long gap updating this blog with this 123 strategy I came
 across today . After reading it looked quite simple to follow so followed it in live market .

One can read about it at http://www.tradeprofitably.com/The_1-2-3_Breakout_Trading_System.html

this gave me clear 20 points today in a long position taken around 12:46 time and trailing the SL.

The black line after 2 shows the entry point at 5028 .
and then subsequent TSL.

EOD 7th June

Important Lvls for the Day 7th June EOD
Day TF	Values	Hour TF	Values
5Dema	4,964.3	5Hema	5038
5Hema	4,983	5HHema	5047
5Lema	4,910	5HLema	5028
Day Pivot	5039
21 hr MA	4960.7
34 Hr MA	5005.9
10Dema	4,942.3
Last Close	5050

 

Day and hour trend up  and we have closed above DHema as well HHema indicating upside momentum gaining strength .

5 Dema has crossed over 10 Dema indicating bullishness.
Also to watch is that 20 MA is approching 200 MA . It will result in Fast fall if 20 turns down soon ( chart below )

and  If 20 crosses over 200 then more upside.

EOD 4th April 2012

4th April 10:00 close

OLCH values in last row is at 10:15

At 10:00 close We close the long position taken at 5238 ,
reasons as per me :

The price closed at 5329

Hour high ema 5358
Hour Low ema 5339
5 Hour ema 5349
34 ma on 30 mins TF 5326

So we closed not only below hour  high ema but also hour low ema ...clearly on hourly TF down momentum is picking with a close below hour Lema .

If we take 2 lots and part book , then we will make good points in this trade .
and now all the position is closed ..so 2nd lot gives 90 points .

EOD 3rd April 2012

EOD 2nd April

Personally this week is super busy , Posting here has become a routine life unless I am really occupied or I don't know what to write :) .
I will try my best to post the hour Hi lo ema with 34 ema trades sheet EOD, though I will not be taking any of the trades if genrated ., as I will be away from terminal for rest of this week . Moreover this is expiry week , expected to be volatile .

EOD 27th March

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.

Hourly high Low combined with 34 ema on 30 min TF

Link to this excel file is Hi Lo Ema

P:S : I think the background color  in 5 ema 10 ema are not right . but the purpose of post is to combine hour Hi lo with 34 ema on 30 mins TF.

EW counts on 22nd march

22nd March 2012

some possibilities

Lets see the options we were following

Option 1 gets invalidated according to me at present .

Option 2

We are still in 4th wave and have done A as

W1-- 4531-4800 = 269

W2-- 4800-4588=212 ( .78% of 1)

W3-- 4588-5630= 1042

W4-- Going on

• A--- 5630-5171= 459
• B--- 5171 - 5499= 328
• C going on should do 5 waves to down of which we are done with

C.1 5499-5233=266

C.2 5233-5386=153

C.3 in play will do 5 waves to down ..

i 5386 5329=57

ii 5329-5363=34

iii 5363-5206* 157 points is done already ..clearly it is an extended wave .

iv to up will unfold and as and when it retraces 61.8% it will be good place to go short .

OR Still doing B as a FLAT in 3 waves . In this

Option 3

A--- 5630-5171= 459

B Going on .in 3 waves as a flat...

a 5171-5499 = 328

b 5499 - 5206

Here 90% comes to 5202 ...we have almost done that ...now 'c' up in 5 waves ??

So option 1 suggests that we will soon reverse the direction ,

and Option 2 and 3 suggest more down side .

Lets see how prices unfold

time to sell !

Looking at weakness in prices I feel ,  its time to sell again at 5354
12:50 pm: