Wednesday, August 10, 2011

Rally fades out: Intraday update

The first 15 minutes high has not been broken till 1.45 PM. There has been no buy signal yet. While a breakout from consolidation can still give a buy, it would be a weak signal since the breakout will come much below the first 15 minute high.

Following a set of rules will usually keep us out of trouble. I have discussed the 15 minute rule many times in this blog. Just do a search using the search option available in this page. This simple method ensures that many of my orders will not get triggered because the market never follows through above the first 15 minute high or low.

If you are trading, then have a set of rules. Keep it simple, but follow it.

5 comments:

Shazia said...

Nice to see intraday updates.
And the post was quite simple.
Thanks

pucchhu said...

thanks for being back on the blog.
please do not go for long breaks on blog again.

Thanks once again

sudhin said...

Low volumes today so this could be a dead cat bounce? How about giving similar rules for positional trades?

Akash said...

Hi, Sir My Query Is Current market, fust 15 min nifty cross the high, in the 15 min also down low , what shood for trader ?? tel me ,

Sasi Uppuluri said...

Sir, I often see you publish the 15 min rule very often. I do use it for the last 1 year and tremendously benefited from it, thanks to your blog post. Over time, I see that the rule is becoming a common tool like technical analysis, and big people are taking advantage of it. I think it's time to trade the traders. Kindly share your opinion. Thank you.