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Old 12-03-2009, 04:28 AM
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orange Trading With Chart Patterns

Hi guys here i want to discuss about trading with chart pattens, both on intraday and positional.

When ever we get an opportunity we trade on BO or BD. Volumes are very important for me. Pivots are always there. Will give more details including entry, exit and SL with the charts. Here i consider all kinds of time frames for the charts.
But mostly i go for 5 min TF so that it is easy to understand the patten and most of my trades are short term.

Hope every one gains some profits from this

kiran.
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Old 12-03-2009, 04:34 AM
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Here I am taking L&T as example.
If we see 5 day charts of LT, 585 is resistance and 9 th march we can see symmetric triangle and the BD happened. Short triggered at BD f . SL at the high of the pivot, Carry the positions and shift the SL at Pivot highs. Tried to take 50 % profits when inside bar formed and couldn't coz of the next bar didn't take out with filter. So Booked profits at EOD


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Old 12-03-2009, 04:39 AM
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This is Relcap for positional trade. Short side targets are archived. But now in the short term we can see some upmove.

Here we can see to bearish pattens
1. Double top
2. H &S

Both the pattens are acting like continuation pattens. Target is archived for both those who are in positional short can take some profits as the target for both the pattens are achieved and RSI and Stochastic are oversold. In short term we may see some pull back here.




kiran
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Old 12-03-2009, 04:52 AM
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This is Relcap chart of 2nd March,

Here when we see the Descending triangle and the BD, go short when filter is taken out. change the stoploss to the new pivot highs and close the trades at EOD. or take the 50 % profits when target of the patten is reached. And keep the remaining for SL triggers. Or can close the position when the target for the patten is achieved.

I personally follow the pattens with pivots, if both of them are there then the probability of getting the profits increases. As the target for the patten reached i take 50 % profits and watch for the pivots ( 5 min visual pivots) and carry my positions. i add some or book some according to MM. And most important one is i don't take new trades after 3.00 pm and close my trades before 3.20 PM.

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Old 12-03-2009, 05:17 AM
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This is 3rd March Relcap chart.

1. I can see the ascending triangle but both the support and Resistance TLs has to be adjusted to see the patten correctly. But looking at the volumes as the patten forms and at the BO, i consider this as ascending triangle. And the long trade is initiated when the filter is taken out after the BO. Exit when the Sl f hit .

2. Double top, I can see the comparatively big volumes during the up move of the first peak and less volumes during the second up move. And it could not break the previous pivot and came down. When the support line or pivot low is broken with filter along with volumes, then short trade is triggered. Change the SL to support/ resistance line and close the position when the target is reached or at EOD.





kiran.
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Old 12-03-2009, 04:33 PM
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Great going Kiranb,

Keep it up ,..!!
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Old 12-03-2009, 04:36 PM
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Originally Posted by Kiranb View Post
This is 3rd March Relcap chart.

1. I can see the ascending triangle but both the support and Resistance TLs has to be adjusted to see the patten correctly. But looking at the volumes as the patten forms and at the BO, i consider this as ascending triangle. And the long trade is initiated when the filter is taken out after the BO. Exit when the Sl f hit .

kiran.


Considering TOp horizontal line, it qualifies as AT,but TL's should be shortened and adjusted properly.

Last edited by mahesh; 12-03-2009 at 04:42 PM. Reason: underlooked points comment
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Old 13-03-2009, 02:00 AM
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Originally Posted by darsh View Post
Great going Kiranb,

Keep it up ,..!!

Thanks darsh, Will try to put live posts, when ever i see some patten on the charts from today. But can't post the charts as i will be trading and not that fast to put every thing on charts. Will put the patten name and the scrip name, all the other views are always welcome. Will post the charts after the markets hrs.

Will try to post my live inputs today, but i will not be trading from Monday. Need to take Off for next 10 days due to some personal reasons.

kiran.
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Old 13-03-2009, 02:52 AM
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Originally Posted by Kiranb View Post
Thanks darsh, Will try to put live posts, when ever i see some patten on the charts from today. But can't post the charts as i will be trading and not that fast to put every thing on charts. Will put the patten name and the scrip name, all the other views are always welcome. Will post the charts after the markets hrs.

Will try to post my live inputs today, but i will not be trading from Monday. Need to take Off for next 10 days due to some personal reasons.

kiran.

Hope to see u back soon kiran...
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Old 13-03-2009, 01:56 PM
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BO in nf, but don't know whether we can break 2700.

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