Example - 1 week
1. I note down the high, low for the last 5 days for any scrip (say TATASTEEL).
2. I take closing price as closing price of previous day.
3. Lets say they are 625.70, 551.70 and 569.10.
4. I get three buy signals.
Go Long at / above 551.7. Keep Stoploss at 551.14. Target 1 is 579.96.
Go Long at / above 562.5. Keep Stoploss at 551.14. Target 2 is 598.46.
Go Long at / above 576.19. Keep Stoploss at 562.5. Target 3 is 621.92.
5. Based on this call, I will try to buy at 551.7 for target of 579
If i am able to buy at/above this price, i square off at target 1.
I then wait for price to come near second buy level ( 562.5).
I again try to buy at/above 562.5 with target of 598.46 this time. (I also buy at this price if i could not buy at buy price of 1st signal(551.7).
If my target 2 is achieved, i squareoff at target 2. I now wait for price to come near buy signal 3 ( 576.19).
I buy again at/above 576.19 for target of 621.92
Example - 2 Intraday
1. I note down the high, low and close for the previous day for any scrip (say TATASTEEL).
2. Lets say they are 594.60, 570.65 and 573.
3. I get three buy signals.
Go Long at / above 570.65. Keep Stoploss at 570.07. Target 1 is 579.79.
Go Long at / above 574.14. Keep Stoploss at 570.07. Target 2 is 585.78.
Go Long at / above 578.57. Keep Stoploss at 574.14. Target 3 is 593.37.
4. The next day, low for TATASTEEL was 577.10. So i could not buy at 1st and 2nd buy signal prices.
But if i take risk and enter the long at 3rd buy signal (578.57). I wait for target 593.37
The high made for the next day was 603.6. (Our target achieved.)
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| Downloads: 648 | ||||
| Updated At: 2024-03-28 13:38:22 | ||||
| Publisher: Pivottrading.Net | ||||
| Operating System: Android | ||||
| License Type: Free |