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T For Trading
Started: by devdas Views / Replies:57,976 / 1,132
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T For Trading

  #1071 (permalink)
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DbPhoenix View Post
That's starting to look like a moving average

If trading price here, though, you'd see that the stride of this particular segment is broken just after your last green dot. Price then retreats to the median of this channel, then rallies to attempt a continuation. Instead it makes a lower high. What one does here is a matter of choice, though holding on to the long is probably not the best one. If one's experience with this particular instrument tells him that there's going to be a lot of chop in this area, then just get out and stand aside until price reaches the opposite extreme and either reverses or breaks through. Or ignore the channel entirely and short the triple top on 7/23. Again, familiarity with the instrument should be extremely helpful, but it's also important to keep in mind that the channel is in your head; the triple top exists outside of you, in the market. So if pressed as to which to trust in real time, especially as price failed twice to reach the upper limit of the channel, I'd go with the triple top.


Well there will be as many as view as many as trader and instrument, but with a pinch of salt.

First, honestly i was not ( and most often do not ) trading channel and neither i was seeing that as double/triple top. I was still trading my own method of simply seeing how price is behaving wrt MIRZ levels. I have to go back in history of this journal back in 2012 when i first realized that there can be an animal which i will call "MIRZ" which i might see as SuperSet of Support/Resistance-Supply/Demand. This thought too came from characterization of my instrument. MIRZ stand for "Movement In Restricted Zone". Ahh... you can feel the holy grail idea - if you were allowed to go where you were restricted in past, probably you will play wild. ....you would like to explore more in that zone...will make more move in that area. Simple !!

Second, MIRZ levels clearly bonds with balanced activity. Some volatility zone represent very clear cut ( like this current one ) relationship between MIRZ and balanced activity. And all of sudden clocks over and price start to play more beyond MIRZ level. This you see in your way as AMT handed baton to SLA. I have marked AMT zone well sandwiched between two MIRZ level and resultant SLA afterward.

Coming to finer points a , b , c , d and e. I see "a-b" auction as "Early Bear" - not in hindsight but conclusively at "c" because they could not protect their sole purpose of dragging the price down and lost their hill too. I had traded Long from "b" in 22-7 that has nothing to do with "Early Bear". My call was simply based on characterization of Instrument, tactics and bounce from buried down sloping channel. Now its time for bulls to maintain their win and not to prove themselves as "Late Bulls". In that sense i was seeing "c"as HH of original rally which started from point 1. And "c-d" as pullback. Even i was little confused on 23-7 and stayed away from taking any trade. This was smell of some thing different than expected in that situation. Ideally price should not come to "e" on 24-7 , if by chance then should have bounced from opening - but didnt , this was a major alarm bell for me as MIRZ trader. It spent time their as if preparing to play in new zone. Hence "e" was trigger point for short.

If you look my charts , there are many things MAs, Wide range bar marker , GomMP etc and different on others. None of them i use as decision helper. They were the helper in past to get stand me and mostly i use new things to maintain fun in trading.

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I will explain what i mean by "Curved Straight Line" in some next post.

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  #1072 (permalink)
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Current EOD status.

Generated a nearest MIRZ zone near 8400-8410.

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  #1073 (permalink)
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An obvious trading range, not tough to gauge the timings of these AMT areas , very common with NF.


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Last edited by devdas; July 29th, 2015 at 11:19 PM.
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  #1074 (permalink)
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Not much optimism , but scale out and manage is better on this yday trade.

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  #1075 (permalink)
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Closing this and staying away.

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  #1076 (permalink)
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EOD status.

Friday will be with Aug Series prices. Due to premium probably opening itself will be looking like continuation of bullish structure. I think upper MIRZ will be fair to gauge the strength of bear, and bulls if hold lower MIRZ they will have chance of more upmove in next week. Right at this spot , i am not decisive for any side. Perhaps scalp turn larger trade might work.


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  #1077 (permalink)
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I took very delayed decision for position. Structure was not a call for scalp trade so had to see it with other risks of larger trade. So no point in placing day type stop like so far day low, but as it has managed to sustain MIRZ , this will be an alarm for this long, and possibly this trade has no value below lower MIRZ.

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Last edited by devdas; July 31st, 2015 at 12:55 PM.
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  #1078 (permalink)
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EOD Status on Friday.


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  #1079 (permalink)
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Its yet not given any reason to act in regard of already positioned except rejection from previous MIRZ.
On a little larger structure , its not the hold below 8480, hence thats the fair exit if happens.


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  #1080 (permalink)
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I could hold, but emotions took over and exited near 8468. At the end i thought, is this chance for re-entry ? I could not, felt cheated cleverly.

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