Tuesday, October 11, 2011

Small risk on shorts looks good


Comments are there in the chart
Posted by at 10:11 AM
Labels: , , ,

3 comments:

  1. Forgot to mention on the chart that 4th wave goes into 1st wave bottom. this is possible if this is ending diagonal. Ending diagonal appears in 5th wave mostly. So if this is some kind of 5th wave a huge rally may start. But looking huge resistances I think this may turn out to be Leading diagonal which mostly appears in 1st wave so huge other waves are still pending. Let us see how it pans out.

    Kind Regards,

    Nirav Shah

    ReplyDelete

  2. Sorry ignore my latest comment on leading and ending diagonal. I thought i have shown my other less preferred counts too on the charts where 4th wave goes into 1st wave so thought to clarify them here. But they do not appear on the charts so pl ignore them.

    ReplyDelete

  3. I have advised 1/3 quantity to sell around 5030-50 as all set up was not preset and we need to check whether market adhere to resistance or not. It has as of now.

    Now market is trading around near 5000. Now for the first 1/3 quantity you should have sloss of your sell price making sure we do not loose on that 1/3 quantity.

    Sell more 50% of another 1/3 now and have todays high as stop loss. (that ensure you do not loose than your initial expected loss). But you will not make money on your already profitable trade..

    I am planning to create a good short position but as market is trading above 5 day avg i am bit hesitant. Now by adding 50% of another 1/3 quantity, we would have added to 50% of total shorts now.

    So rest 50% position I will advise sooner to add when full set up is seen. Below 4880 we will mostly fulfil all set up requirements i think. Let us see where market closes today .

    Kind Regards,

    Nirav Shah

    ReplyDelete

Subscribe to: Post Comments (Atom)