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a layman's approach to break out and break down |
sherbaaz
Yellow Belt
Joined: 27 May 2009
Posts: 543
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Post: #1921  Posted: Tue Feb 15, 2011 4:01 pm Post subject: |
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| Ravi_S wrote: | 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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if its an upside breakout of the channel would prefer to go long as per channel but i dont trade channels they are secondary. downside breakout would not short it.
regds,
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shivanigautam30
White Belt
Joined: 01 Dec 2010
Posts: 21
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| Post: #1922 Posted: Tue Feb 15, 2011 4:25 pm Post subject: Reliance Capital |
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Dear Ravi Sir/Seniors.
Any views on Reliance Capital now...after the massive beating?
Closed at 481.8...any targets for next 2-3 days?
Pls reply at the earliest.
Rgds
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sumesh_sol
Brown Belt
Joined: 06 Jun 2010
Posts: 2344
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| Post: #1923 Posted: Tue Feb 15, 2011 4:45 pm Post subject: |
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| anand1234 wrote: | hi............sumesh
infact I bought both dwarkesh @118 & hcc @68 few week before.............
now both r so down dwarkesh @ 71 & hcc @35...............wt shd I do ?.............how long shd I wait??...............pls help me for nearest tgt??...........
thanks
anand |
Anand bhai,
First a solid lecture .. 
What would happen if you try to mix Vodka with Whisky .. Simple, you will have worst hangover of your life.. That's what exactly happens when you mix "Investment" with "Trading"... People start with short term trading, but they hold on to their losses thinking the stock may reverse and they will avoid thier losses.. More than financial loss Men are afraid of Ego hit.. They don't want to accept defeat ..
9 out of 10 people are out of the game simply because of this... No money management system... I once again urge you and all my beloved friends out here to download and read the book "Come into my tradin room".. This will help you immensely in protecting your future losses..
Now, about your HCC & Dwarkesh... What can I say, They are in deep downturn (like so many other stocks are).. I cannot tell any price till which they will retrace, maximum may be 50 sma on eod.. !! But that too is not sure, when ...
You take your call whether to exit or stay.. But make one commitment to yourself, that from tomorrow you will always have some protection in place before you take trade,,, It is like going into war empty hand where the field is full of dangerous enemy armed with all types of "Hathiyaar " for slaughter....
Please don;t mind my bitter advice.. it is for your good only...
-Sumesh
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casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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| Post: #1924 Posted: Tue Feb 15, 2011 5:47 pm Post subject: |
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| casper wrote: | 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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this is the result of a data collection and sorting out noise from the data and trading experience of past depending on the data
nifty darling moved almost on my words
as no one is supposed to congratulate me so im congratulating myself for a job well done!!! 
some body will follow our method, somebody will follow another method, some will such and such indicator, some will use none............is it a sin?
analysis is part of trading for a technical trader, its not a competitor at all
a technical trader will walk on the way he foresee, the person who cant foresee a situation how can he walk on that???
analysis paralysis (i hv heard this word so many times, i dont know why its me always to hear it, i like to help others, that why???) will never develop as long as we know which data to be used and which is of less value
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prasenjit
White Belt
Joined: 31 Dec 2010
Posts: 59
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| Post: #1925 Posted: Tue Feb 15, 2011 6:51 pm Post subject: |
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| congrats from another kolkatan.....cheers for the work......
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Ravi_S
Yellow Belt
Joined: 15 Jun 2009
Posts: 569
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singh.ravee
Yellow Belt
Joined: 12 Aug 2010
Posts: 678
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| Post: #1927 Posted: Tue Feb 15, 2011 8:07 pm Post subject: |
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casper,
congrats for your success. seems ur conscious efforts has paid u in the end.
regards
ravee
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rohit44
White Belt
Joined: 05 Jan 2010
Posts: 279
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| Post: #1928 Posted: Tue Feb 15, 2011 8:19 pm Post subject: |
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| Casper brother GE, today i found in ET that hindalco has formed h&s pattern on weekly charts with decent volume support which indicates potential downside till 38.2% retracement at 170, sl 240....is it so? can you please give your precious view on that.....( dont get bored with hindalco....i try to master/track 5 8 stocks only....i feel confusion will be less and accuracy will improve)
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singh.ravee
Yellow Belt
Joined: 12 Aug 2010
Posts: 678
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| Post: #1929 Posted: Tue Feb 15, 2011 8:37 pm Post subject: |
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rohit44,
with kind anticipated permission of casper, i m posting hindalco 60min chart. Today, I traded twice in hindalco. About first trade i posted in the morning. Second trade initiated as marked in the chart.
Down trend line can be used as a sl point for short side.
thanks and regards
ravee
p.s.: i can see only triangles, so cann't comment upon h&s
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singh.ravee
Yellow Belt
Joined: 12 Aug 2010
Posts: 678
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| Post: #1930 Posted: Tue Feb 15, 2011 8:39 pm Post subject: |
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another point,
market is trying to move up. keep that in mind for any shorting activity.
regards
ravee
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rohit44
White Belt
Joined: 05 Jan 2010
Posts: 279
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| Post: #1931 Posted: Tue Feb 15, 2011 8:43 pm Post subject: |
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| Oh so nice of you ravi for your valuable view and especially for a prompt reply...ty....i had already gone through your pots/findings and found you the very hardworking guy here always in search of some logical and fruitful trade, your study is also good and logical....Rgds
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rohit44
White Belt
Joined: 05 Jan 2010
Posts: 279
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| Post: #1932 Posted: Tue Feb 15, 2011 8:45 pm Post subject: |
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| Yes brother will keep a track on that...can you plz help me out with any tgt if trade going my ways is it 201....with sl 217???
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casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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| Post: #1933 Posted: Tue Feb 15, 2011 9:11 pm Post subject: |
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| prasenjit wrote: | | congrats from another kolkatan.....cheers for the work...... |
thank u brother!!
nice to meet u, where in kol?
im from dumdum
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prasenjit
White Belt
Joined: 31 Dec 2010
Posts: 59
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| Post: #1934 Posted: Tue Feb 15, 2011 9:15 pm Post subject: |
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| hatibagan.....shyambazar.....kontact kora jai ki ei foram a....
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casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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| Post: #1935 Posted: Tue Feb 15, 2011 10:34 pm Post subject: |
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| singh.ravee wrote: | casper,
congrats for your success. seems ur conscious efforts has paid u in the end.
regards
ravee |
hi ravee
thanks and i am really sorry if at times u find me quite harsh
i want to see u winning side, always
u may remember, once i told u dont follow me or any body else, dont follow even murphy or nison or any body else
find out what u expect from the market and how u will get it
im day trader and if u trade positional then view will differ from each other, thats natural
i know the pain of loosing a trade, bcoz i hv lost many, i also know the taste of success as i hv that experience too
bhai, in the market, every body, i mean it, every body is against u, every one will try to pick ur pocket
u must have to invent ur way to win
u know, u and me, we were introduced by none other than veru sir, from that day one, i am watching ur every reply, in every thread
i know it very well that u will succeed and its my faith
even if u say some day that u are giving up, may be i may not believe
i know what makes a newbie into a trader, i hv did it for me and did it for others too, even i do it now also
just keep it up, success is not a far away !!!
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