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    New 21 Bar Concept (Less Than 5days Holding: (Postional)

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    NihilisticDelusion
    This document outlines a trading strategy using 21 bar concepts with positions held for less than 5 days. It describes looking for oversold or overbought signals on the RSI14, identifying breakouts of the previous 21 candles high or low, and taking entry positions 0.1 above breakouts. Targets are set using Fibonacci retracement drawn from the previous swing high to low. Stocks are selected that show an open equal to the high or low for the day, and a breakout is watched for with entry and targets as described above.

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    New 21 Bar Concept (Less Than 5days Holding: (Postional)

    Uploaded by

    NihilisticDelusion
    85 views7 pages
    This document outlines a trading strategy using 21 bar concepts with positions held for less than 5 days. It describes looking for oversold or overbought signals on the RSI14, identifying breakouts of the previous 21 candles high or low, and taking entry positions 0.1 above breakouts. Targets are set using Fibonacci retracement drawn from the previous swing high to low. Stocks are selected that show an open equal to the high or low for the day, and a breakout is watched for with entry and targets as described above.

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    Bar bar dekho.

    Original Title

    New 21 Bar Concept

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    This document outlines a trading strategy using 21 bar concepts with positions held for less than 5 days. It describes looking for oversold or overbought signals on the RSI14, identifying breakouts of the previous 21 candles high or low, and taking entry positions 0.1 above breakouts. Targets are set using Fibonacci retracement drawn from the previous swing high to low. Stocks are selected that show an open equal to the high or low for the day, and a breakout is watched for with entry and targets as described above.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    85 views7 pages

    New 21 Bar Concept (Less Than 5days Holding: (Postional)

    Uploaded by

    NihilisticDelusion
    This document outlines a trading strategy using 21 bar concepts with positions held for less than 5 days. It describes looking for oversold or overbought signals on the RSI14, identifying breakouts of the previous 21 candles high or low, and taking entry positions 0.1 above breakouts. Targets are set using Fibonacci retracement drawn from the previous swing high to low. Stocks are selected that show an open equal to the high or low for the day, and a breakout is watched for with entry and targets as described above.

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    You are on page 1of 7

    NEW 21 BAR CONCEPT(LESS THAN 5DAYS

    HOLDING (POSTIONAL)

    1. LOOK AT RSI14
    FOR BUYING IT MUST BE BELOW 30(OVERSOLD
    ZONE)
    FOR SELLING IT MUST BE ABOVE 70
    (OVERBOUGHT ZONE)

    2. PRESNT LOW/CMP MUST BE LOWER THAN 21


    CANDLES LOW(FOR BUY)
    PRESENT HIGH/CMP MUST BE HIGHER THAN
    21 CANDLES HIGH (FOR SELL)

    3. PRESENT CANDLE MUST MAKE ATLEAST 3


    NEW HIGH OR 3 NEW LOW
    4. ENTRY
    5. SL
    6. TARGET
    DRAW FIB RETRACMENT TOOL
    FROM HIGH TO LOW
    OF PREVIOUS SWING
    TG ARE 11.4%,23.6%,38.2%,50% CONCEPT
    DONE
    WHAT IS OHL?
    OPEN
    HIGH
    LOW
    WHAT IS THE REALTION OF THIS OHL?
    THE REALTTION B/W
    OHL IS

    IF

    O=H-BEARSIH DOWN FOR THE DAY

    O=L- BULLISH UP FOR THE DAY

    WHAT HAPPENS IF THIS BREAKS OUT?

    1. TO FIND STOCKS WITH O=H,O=L


    2. WAIT FOR BREAKOUT
    3. ENTRY AT BREAKOUT
    4. AS PER ME TG IS FIXED FOR 2RS
    5*2*500=10000
    5. 3,5,8RS SL
    O=H=1000
    IT WENT LOW TO 990-980-970

    BREAKOUT(0.1)= 1000.1

    PLACE A BO ORDER WITH


    1000.1 ENTRY
    1002.1 TARGET

    O=L=550

    IT WENT HIGH TO 555-560-565


    BREAKOUT (0.1)=549.9

    PLACE A BO WITH= 549.9

    20-MARCH
    1625=O=H
    1625.1

    STOCK SELLECTION PART

    6. OPEN GIVEN SCANNER


    AT OR AFTER 9:30AM
    7. WHICHEVER STOCKS ARE IN LIST
    CHECK MANUALLY(CROSS VERIFCTION) WITH
    YOUR BROKER DATA
    IS IT VALID
    O=H.O=L

    8. CHOOSE STOCKS B/W


    500-2000 PRICE ONLY
    9. SOME SCRIPTS WONT FOLLOW THIS
    I SHALL UPDATE THE LIST IN GROUP

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