|
|
| View previous topic :: View next topic |
| Author |
a layman's approach to break out and break down |
singh.ravee
Yellow Belt
Joined: 12 Aug 2010
Posts: 678
|
Post: #2266  Posted: Sat Mar 26, 2011 8:55 am Post subject: |
 |
|
| newinvestor wrote: | | Thanks, well explained. |
Newinvestor Hello,
Try to understand what price is doing on the charts. Be a good listener and listen to price, most of your questions will be answered by price only. All indicators are derivative of price only, hence give late signals.
I use no indicator except RSI for confirmaiton of divergence. I have marked my entry points in nifty 60min chart. Just compare entry points generated by your system with the one marked on the charts.
Its my personal view and may or maynot be applicable to you, coz trading is all about beliefs.
Thanks and Regards
Ravee
| Description: |
|
| Filesize: |
20.4 KB |
| Viewed: |
253 Time(s) |
|
|
|
| Back to top |
|
 |
|
| |
ridinghood
Yellow Belt
Joined: 16 Apr 2009
Posts: 724
|
| Post: #2267 Posted: Sat Mar 26, 2011 3:00 pm Post subject: |
|
|
hi casper
how r u? our market rocked on friday ! u must have enjoyed !!
but i will again bore u with a request for ur take on ranbaxy.
regs
ridinghood
|
|
| Back to top |
|
|
newinvestor
White Belt
Joined: 16 Feb 2010
Posts: 120
|
| Post: #2268 Posted: Sat Mar 26, 2011 4:37 pm Post subject: |
|
|
| singh.ravee wrote: | | newinvestor wrote: | | Thanks, well explained. |
Newinvestor Hello,
Try to understand what price is doing on the charts. Be a good listener and listen to price, most of your questions will be answered by price only. All indicators are derivative of price only, hence give late signals.
I use no indicator except RSI for confirmaiton of divergence. I have marked my entry points in nifty 60min chart. Just compare entry points generated by your system with the one marked on the charts.
Its my personal view and may or maynot be applicable to you, coz trading is all about beliefs.
Thanks and Regards
Ravee |
Thanks, Ravee.
So in your system, the trigger is an RSI Divergence, backed by a bottoming out candle like Hammer etc? Do you trade only RSi divergences in 60 mins and above. What if there is a divergence in a TF lower than 60 mins?
I am still testing out various systems. I was watching the ADX , which went above 20 only when Nifty crossed 5500.
Regards
|
|
| Back to top |
|
|
singh.ravee
Yellow Belt
Joined: 12 Aug 2010
Posts: 678
|
| Post: #2269 Posted: Sat Mar 26, 2011 6:10 pm Post subject: |
|
|
Newinvestor,
I trade only in 60min. As per my limited knowledge, all reversal will start with lower tf. 5min>10min>15min>30min n then 60min. If i have to check divergence in lower tf then i use 15min as lower tf.
Regards
Ravee
|
|
| Back to top |
|
|
casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
|
| Post: #2270 Posted: Sat Mar 26, 2011 8:18 pm Post subject: |
|
|
| ridinghood wrote: | hi casper
how r u? our market rocked on friday ! u must have enjoyed !!
but i will again bore u with a request for ur take on ranbaxy.
regs
ridinghood |
hi brother i am fine. but i am always unfortunate,  it seems that GOD has written on my fore head "u will earn consistently but will never earn lamp sum amount" with Chinese ink!! 
at 9.15-9.30 every day, i enter market to earn my living and irrespective of the nature of the movement, i some what manage to earn what i really eye for, and then either market moves dies down or i leave market due to personal preoccupation and Friday was not an exception to that rule......
there is an ancient Bengali idiom "tumi jao bonge,kopal tomar songe!!" meaning where ever u go ur luck will accompany u at every step
any ways....i hv left my luck to deal with itself and myself dealing with things which i can
now lets jump to ranbaxy
as i have mentioned, its at crucial juncture, now situation is not very different, we have same lows on that long term trend line but rsi has got divergence, see in the chart, while price made same low, rsi made higher low, which is a clear indication of b class div which, we ichartians famously call "nvk"
nvk contains various other rules too, and i am not fully aware of those rules, so i will call it a simple b grade div to avoid confusion
here rsi is at 38, a little higher than OS level of 30, had it been below 30, i would say buy here, with a sl of long term tl at 433 and target some 450 and 471 (only for a temporary pull back, we are not bullish any way)
if it breaks below 433, BEFORE giving a pull back, then this div will remain there, making a short below 433 risky one, if we take this short (in case of breaking below 433 before a pull back) we will use 433 as sl and 400-390 as target
but in normal case, going from here, in a short covering rally, upto 470 and then, another round of fall is more likely, so buying here with a sl of 433 and target of 450 and 470 is more likely, in fact now, we can go any ways from here, its in very crucial zone now
ps: in last post u wrote that u r novice, but i dont think so,i appreciate the way u track ranbaxy, its always good to stick to a hand ful of stocks than chasing all of them madly
i remember, rohit 44 also, who track hindalco like u track ranbaxy (though he seldom asks me  )
and u never bored me, whenever u asked me about ranbaxy i got a chance to smile to see at least some of us are following strict discipline in this impulsive market, so plz dont hesitate to knock me whenever u need in future
| Description: |
|
| Filesize: |
28.03 KB |
| Viewed: |
223 Time(s) |
|
|
|
| Back to top |
|
|
shaadoo
White Belt
Joined: 22 Jul 2010
Posts: 153
|
| Post: #2271 Posted: Sat Mar 26, 2011 11:51 pm Post subject: |
|
|
hi casper
i was really impressed by ur reply that u give such attention to ichartians.keep it up and do suggest me also whnever i need ur assistance.
regards
shaadoo
|
|
| Back to top |
|
|
casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
|
| Post: #2272 Posted: Sun Mar 27, 2011 9:14 am Post subject: |
|
|
| shaadoo wrote: | hi casper
i was really impressed by ur reply that u give such attention to ichartians.keep it up and do suggest me also whnever i need ur assistance.
regards
shaadoo |
hi buddy, thanks for ur kind words!!
u know i have no formal education in t.a, came in stock market accidentally, i learnt from others blog here and other websites,asked a lot of questions to senior traders.......unfortunately no body bothered to reply and elaborate
so i know very well the pain and agony of loosing and still staying focussed in ur learning by simple trail and error, kabhi khushi...kabhi gum method
so i always try to make it a point that any of ur questions, be it in forum be it in pm , does not remain unanswered....it has become such a habit that i feel guilty if i take long time to reply the queries
if u (any of u)want me to serve "ready to eat" calls, then i may remain silent becoz thats not my priority, i dont want to make u a dependent on me in ur trading career, but if u ask me "how to cook" calls and analyse the situations, a fast reply is always guaranteed
|
|
| Back to top |
|
|
chetan83
Brown Belt
Joined: 19 Feb 2010
Posts: 2036
|
| Post: #2273 Posted: Sun Mar 27, 2011 10:14 am Post subject: |
|
|
| casper wrote: | | shaadoo wrote: | hi casper
i was really impressed by ur reply that u give such attention to ichartians.keep it up and do suggest me also whnever i need ur assistance.
regards
shaadoo |
hi buddy, thanks for ur kind words!!
u know i have no formal education in t.a, came in stock market accidentally, i learnt from others blog here and other websites,asked a lot of questions to senior traders.......unfortunately no body bothered to reply and elaborate
so i know very well the pain and agony of loosing and still staying focussed in ur learning by simple trail and error, kabhi khushi...kabhi gum method
so i always try to make it a point that any of ur questions, be it in forum be it in pm , does not remain unanswered....it has become such a habit that i feel guilty if i take long time to reply the queries
if u (any of u)want me to serve "ready to eat" calls, then i may remain silent becoz thats not my priority, i dont want to make u a dependent on me in ur trading career, but if u ask me "how to cook" calls and analyse the situations, a fast reply is always guaranteed
|
Casper 
this is what I wud say..........
Now its time for me to see you soon, or else; I guess I need to wait for a long appointment from your secretary soon out of your busy schedule 
Regards,
Chetan.
|
|
| Back to top |
|
|
vishytns
White Belt
Joined: 26 Nov 2009
Posts: 206
|
| Post: #2274 Posted: Sun Mar 27, 2011 10:23 am Post subject: |
|
|
chetan,
Even i wanted an appointment from his personal secretary. U know till now i have not got it. 
Even i have to take darshan of our guru (Pattern guru). I wish that time comes soon.
regards
Vishwanath.
|
|
| Back to top |
|
|
chetan83
Brown Belt
Joined: 19 Feb 2010
Posts: 2036
|
| Post: #2275 Posted: Sun Mar 27, 2011 10:44 am Post subject: |
|
|
| vishytns wrote: | chetan,
Even i wanted an appointment from his personal secretary. U know till now i have not got it.
Even i have to take darshan of our guru (Pattern guru). I wish that time comes soon.
regards
Vishwanath. |
|
|
| Back to top |
|
|
casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
|
| Post: #2276 Posted: Sun Mar 27, 2011 2:16 pm Post subject: |
|
|
| chetan83 wrote: | | casper wrote: | | shaadoo wrote: | hi casper
i was really impressed by ur reply that u give such attention to ichartians.keep it up and do suggest me also whnever i need ur assistance.
regards
shaadoo |
hi buddy, thanks for ur kind words!!
u know i have no formal education in t.a, came in stock market accidentally, i learnt from others blog here and other websites,asked a lot of questions to senior traders.......unfortunately no body bothered to reply and elaborate
so i know very well the pain and agony of loosing and still staying focussed in ur learning by simple trail and error, kabhi khushi...kabhi gum method
so i always try to make it a point that any of ur questions, be it in forum be it in pm , does not remain unanswered....it has become such a habit that i feel guilty if i take long time to reply the queries
if u (any of u)want me to serve "ready to eat" calls, then i may remain silent becoz thats not my priority, i dont want to make u a dependent on me in ur trading career, but if u ask me "how to cook" calls and analyse the situations, a fast reply is always guaranteed
|
Casper
this is what I wud say..........
Now its time for me to see you soon, or else; I guess I need to wait for a long appointment from your secretary soon out of your busy schedule
Regards,
Chetan. |
| vishytns wrote: | chetan,
Even i wanted an appointment from his personal secretary. U know till now i have not got it.
Even i have to take darshan of our guru (Pattern guru). I wish that time comes soon.
regards
Vishwanath. |
i am too poor to hire a secretary ...... anna knows better about it now
|
|
| Back to top |
|
|
chetan83
Brown Belt
Joined: 19 Feb 2010
Posts: 2036
|
| Post: #2277 Posted: Sun Mar 27, 2011 2:36 pm Post subject: |
|
|
| casper wrote: | | chetan83 wrote: | | casper wrote: | | shaadoo wrote: | hi casper
i was really impressed by ur reply that u give such attention to ichartians.keep it up and do suggest me also whnever i need ur assistance.
regards
shaadoo |
hi buddy, thanks for ur kind words!!
u know i have no formal education in t.a, came in stock market accidentally, i learnt from others blog here and other websites,asked a lot of questions to senior traders.......unfortunately no body bothered to reply and elaborate
so i know very well the pain and agony of loosing and still staying focussed in ur learning by simple trail and error, kabhi khushi...kabhi gum method
so i always try to make it a point that any of ur questions, be it in forum be it in pm , does not remain unanswered....it has become such a habit that i feel guilty if i take long time to reply the queries
if u (any of u)want me to serve "ready to eat" calls, then i may remain silent becoz thats not my priority, i dont want to make u a dependent on me in ur trading career, but if u ask me "how to cook" calls and analyse the situations, a fast reply is always guaranteed
|
Casper
this is what I wud say..........
Now its time for me to see you soon, or else; I guess I need to wait for a long appointment from your secretary soon out of your busy schedule
Regards,
Chetan. |
| vishytns wrote: | chetan,
Even i wanted an appointment from his personal secretary. U know till now i have not got it.
Even i have to take darshan of our guru (Pattern guru). I wish that time comes soon.
regards
Vishwanath. |
i am too poor to hire a secretary ...... anna knows better about it now
|
Personal Secretary  
|
|
| Back to top |
|
|
anandrathi12
White Belt
Joined: 01 Dec 2010
Posts: 38
|
| Post: #2278 Posted: Sun Mar 27, 2011 6:08 pm Post subject: |
|
|
Hi Casper/ravee
Is it a bearish flag formation in Nifty Weekly chart...? please give ur views...
Thanks and Regards,
Anand
| Description: |
|
| Filesize: |
36.96 KB |
| Viewed: |
193 Time(s) |
|
|
|
| Back to top |
|
|
casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
|
| Post: #2279 Posted: Sun Mar 27, 2011 7:57 pm Post subject: |
|
|
| anandrathi12 wrote: | Hi Casper/ravee
Is it a bearish flag formation in Nifty Weekly chart...? please give ur views...
Thanks and Regards,
Anand |
hii mr rathi!!!
yes it is a bearish flag. and this pattern is seen in eod chart too, (attached chart in eod version)as per my assumption, 5700, to be precise 5725-5750 is going to be a trend decider
its a strong resi and from here, we can expect a fall, as of now, we have strong chance to become range bound, the pattern, depending upon upside/downside break will decide the future course of our market
ps: bearish flag, as per my exp, is not very reliable pattern, or may be i am yet to discover the proper way to trade it, so though i am still bearish some where in my mind, still i would like to wait for a break in either side to take a call
| Description: |
|
| Filesize: |
30.79 KB |
| Viewed: |
192 Time(s) |
|
|
|
| Back to top |
|
|
anandrathi12
White Belt
Joined: 01 Dec 2010
Posts: 38
|
| Post: #2280 Posted: Sun Mar 27, 2011 9:33 pm Post subject: |
|
|
| casper wrote: | | anandrathi12 wrote: | Hi Casper/ravee
Is it a bearish flag formation in Nifty Weekly chart...? please give ur views...
Thanks and Regards,
Anand |
hii mr rathi!!!
yes it is a bearish flag. and this pattern is seen in eod chart too, (attached chart in eod version)as per my assumption, 5700, to be precise 5725-5750 is going to be a trend decider
its a strong resi and from here, we can expect a fall, as of now, we have strong chance to become range bound, the pattern, depending upon upside/downside break will decide the future course of our market
ps: bearish flag, as per my exp, is not very reliable pattern, or may be i am yet to discover the proper way to trade it, so though i am still bearish some where in my mind, still i would like to wait for a break in either side to take a call |
HI Casper...
thanks for ur rply...
cn u tell what inference cn be obtained from following points...
1)in eod chart the breakout was accompanied with good volumes... (bt i thnk part of it may be due to short covering....)
2)in weekly charts we cn see a large green candle bt the very low volumes...
3)and u hv also mentioned in one post that adx did nt accompany the upmove in eod....
so overall ths looks like a kind of trap.. need ur expert view on the same....
thanks and regards,
anand
|
|
| Back to top |
|
|
|
|
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum
You can attach files in this forum
You can download files in this forum
|
Powered by phpBB © 2001, 2005 phpBB Group
|
|
|
FAQ
Search
Memberlist
Usergroups
Register
Profile
Log in to check your private messages
Log in
