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SINTEX.....

was unable to break the resistance of 260-270. It was trading in a price range 180-260. Yesterday, with strong volume SINTEX made a mood to break this resistance and today made it....Today's close is around 280 with huge volumes.. both yesterday and today.

Target 1: 320 (2-3 weeks)
Target 2: 350-360
Target 3: 400-410

 

Fundamental Analysis :

For get the knowledge of Economy

Technical Analysis :

Where to Buy

Astrological Analysis :

When to Buy

Fibonacci Trading System Part 3

Fibonacci Trading System Part 2

The above image is of Nifty Future intraday 15 min chart. I have highlighted the various UP and DOWN Fibonacci levels with green and red colour, blue colour line indicates the HIGH and LOW of the candle, blue coloured dash line indicates the CENTRE of the candle. I have highlighted Fibonacci level upto 423.6%, but the AFL can plot 685.4% and 1109% levels too.

This system needs to identify certain candles which have importance and these important candles are highlighted by red and blue circles...

There is no magic to identify these candles. It is a simple rule...Guess...If unable, I will tell.

The system will identify the MASTER Candle. For intraday, we will need first candle too.....

I used to call this candle as a MAIN Candle. But now I will call this as MASTER Candle. Why? Recently, I came to know about a system by NickB...where he calls such candles as Master or Magic candles... So I too call them......MASTER CANDLES....No issues!!!

You can get this small book here.

So lets start.....

I will explain it on intra-day, daily, weekly...charts.....

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Fibonacci Trading System Part 1

Speculation or investment is the best business in the world if you make a business of it. But in order to make a success of it you must study and be prepared and not guess, follow inside information, or depend on hope and fear. If you do, you will fail. Your success depends on knowing the right kind of rules and following them.


Trading is taking a chance (probability) and indicators tells us where to take a chance....

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After reading articles and book on Opening Range Breakout, I tried to see whether this system will help me or not...

I am follower and believer of Fibonacci so I started using it for range breakout...

Also, I have seen that Fibonacci works well with Volume. So we will using Volume here too as it is the base of this system.

This system is for Amibroker... will it work with Metastock.. don't know.. as I dont know much about Metastock programming.

Also, this system can be applied for any timeframe..be it 5 min, 15 min, 30 min, 1 hr, daily, weekly....

Important things this system will let you know are:

1. Best support and resistance levels.
2. Best Stop loss.
3. Targets

Another important thing, which every trader wants to know is the time when the target will get achieved. I am working on it. Lets hope for the better.. but there is a thumb rule, which for the moment I will not share, for the time required to achieve the target. Later on we will discuss on it.

To get best result using this system, one should have knowledge of following things:

1. Fibonacci levels (well even a novice have it).
2. Importance of Volume.
3. Candlestick.