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a layman's approach to break out and break down |
singh.ravee
Yellow Belt
Joined: 12 Aug 2010
Posts: 678
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Post: #1906  Posted: Tue Feb 15, 2011 9:27 am Post subject: |
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an AT in ril 15min is trying to break upwards. Can we see 935.
regards
ravee
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casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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| Post: #1907 Posted: Tue Feb 15, 2011 9:36 am Post subject: |
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today i am very cautious bhai
due to decrease in OI and lesser tf - div which generally result in gap down or fall then upward motion
so waiting for a strong, familiar pattern to emerge
i trade only when i get a familiar face, until i get i will wait and wait
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Ravi_S
Yellow Belt
Joined: 15 Jun 2009
Posts: 569
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sumesh_sol
Brown Belt
Joined: 06 Jun 2010
Posts: 2344
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| Post: #1909 Posted: Tue Feb 15, 2011 11:33 am Post subject: |
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Nowadays not getting enough time, and also consolidating my trading skills by reading the book "Come into..."
Till I get proper time, I have decided to do some short term (6-10 days tf) trading.. I will resume intra lateron..
Tatapower broke out of inverted H&S on 60tf with good volume.. Look good for 1295 which is 200 SMA... I bought on 1265, although best price was at BO level 1240-1250 (where I have kept another buy in case it gives a slight opportunity to enter..)
Now I will do my office job and will allow tatpower to make its journey in its own time....
-Sumesh
PS : Anand I will reply to you soon... (may be from home)
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Ravi_S
Yellow Belt
Joined: 15 Jun 2009
Posts: 569
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sumesh_sol
Brown Belt
Joined: 06 Jun 2010
Posts: 2344
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| Post: #1911 Posted: Tue Feb 15, 2011 12:08 pm Post subject: NTPC 60TF |
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NTPC 60TF
************
One more Inverted H&S...
If this candle closes above BO zone (with preferably high volume), Long can be taken for 187-190 tgt...
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anand1234
Yellow Belt
Joined: 17 Jul 2010
Posts: 830
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| Post: #1912 Posted: Tue Feb 15, 2011 12:29 pm Post subject: |
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hi...........sumesh
I purchased ntpc @181.5.....................is it for intra or delivery also??
pls comments........
thanks
anand
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sumesh_sol
Brown Belt
Joined: 06 Jun 2010
Posts: 2344
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| Post: #1913 Posted: Tue Feb 15, 2011 12:44 pm Post subject: |
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| anand1234 wrote: | hi...........sumesh
I purchased ntpc @181.5.....................is it for intra or delivery also??
pls comments........
thanks
anand |
Anand bhai, you are too impatient .. This is not good for trader !
Please see what I told earlier.. First of all it is NOT for intra, it may give quick 3-4 rs. if breakout happens with volume.... I'm playing only delivery based short term due to lack of time... Secondly we have to confirm the break by Close above BO level with increased volume...
-Sumesh
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capsi
White Belt
Joined: 04 Dec 2010
Posts: 18
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| Post: #1914 Posted: Tue Feb 15, 2011 12:54 pm Post subject: |
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| anyone following TCS ?
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anand1234
Yellow Belt
Joined: 17 Jul 2010
Posts: 830
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| Post: #1915 Posted: Tue Feb 15, 2011 12:58 pm Post subject: |
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hi..........sumesh
thanks for ur comments............next time I try to maintain this
thanks
anand
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Ravi_S
Yellow Belt
Joined: 15 Jun 2009
Posts: 569
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sherbaaz
Yellow Belt
Joined: 27 May 2009
Posts: 543
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| Post: #1917 Posted: Tue Feb 15, 2011 1:39 pm Post subject: |
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| Ravi_S wrote: | Day of Wedges today... Now a Rising Wedge in Reliance Futures 60 mins TF... Target 20 Rs from the breakdown... 
Regards
Ravi |
this is not a good wedge as at apex cone is not forming.
regds,
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Ravi_S
Yellow Belt
Joined: 15 Jun 2009
Posts: 569
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| Post: #1918 Posted: Tue Feb 15, 2011 1:45 pm Post subject: |
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Sherbaaz a wedge is something where the slope of the upper and the bottom trend lines are converging... Is it mandatory to form a cone at the bottom?
Also if you slightly modify the bottom trendline, you can see a upward rising channel... JCharts somehow does not allow perfect trendline drawing resulting in confusion about the pattern... 
Regards
Ravi
| sherbaaz wrote: | | Ravi_S wrote: | Day of Wedges today... Now a Rising Wedge in Reliance Futures 60 mins TF... Target 20 Rs from the breakdown...
Regards
Ravi |
this is not a good wedge as at apex cone is not forming.
regds, |
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sherbaaz
Yellow Belt
Joined: 27 May 2009
Posts: 543
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| Post: #1919 Posted: Tue Feb 15, 2011 1:48 pm Post subject: |
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| Ravi_S wrote: | Sherbaaz a wedge is something where the slope of the upper and the bottom trend lines are converging... Is it mandatory to form a cone at the bottom?
Also if you slightly modify the bottom trendline, you can see a upward rising channel... JCharts somehow does not allow perfect trendline drawing resulting in confusion about the pattern...
Regards
Ravi
| sherbaaz wrote: | | Ravi_S wrote: | Day of Wedges today... Now a Rising Wedge in Reliance Futures 60 mins TF... Target 20 Rs from the breakdown...
Regards
Ravi |
this is not a good wedge as at apex cone is not forming.
regds, |
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as per the conditions its is good to see cone at the apex which is not there although both are converging. but not as per the rules. also visually there is not cone.
regds,
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Ravi_S
Yellow Belt
Joined: 15 Jun 2009
Posts: 569
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| Post: #1920 Posted: Tue Feb 15, 2011 2:27 pm Post subject: |
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Sherbaaz,
As rightly pointed by you, the trade did not take off... However if you check now.. it's in a channel... What does your PA analysis say?
Regards
Ravi
| sherbaaz wrote: | as per the conditions its is good to see cone at the apex which is not there although both are converging. but not as per the rules. also visually there is not cone.
regds, |
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