iCharts Discussions

[rk_a2003]

OK! Got it.Thanks! Casper.

[rk_a2003]

Casper

Please see the attached Chart of ONGC(EOD). I see a desc.triangle formation and it appears that it took a break out in opposite direction therefore a failed one.

In case you found any thing worth commenting...... please .

[singh.ravee]

[casper]

[rk_a2003]

Casper

I love to be a Rebel

Reason - This World is Upside Down and to be a Rebel is a rational way to see it properly (and make it proper too).

Therefore your suggestion is very well in tune with my outlook.

Thanks!

RK

[S.S.]

hi casper


i m posting tatapower chart . . . . .actually thankx to DH he had posted the chart 4 –WW in RUNNING WITH THE WOLVES topic. i saw some other thing also so i want to share and ask and also correct me where i was wrong . . . .

let me share first

Stock falls quick 35 rs getting support arnd 95 (61.8% of retracementn monthly s1) n now its consolidate n creating rounding bottom(its looks AT also). . .multiple tops arnd mnthly r1(106)


Now my question

can we buy this stock abv 110-111(monthly r2) 4 the target of 125. (if any other target then plz indicate it) ????

what could be the SL (as per me its 106....)????

In the chart t had draw two green line can we call it a divergence ????

Plz reply with ur trade mark

regards,

[casper]

ok saumik, replying one by one here

1. u can buy even above 105, for a target of 110 then after 110, u can buy some more

above 110 it should go up for 15-18 rs more

2. if it reaches there, then it will be around 125-130 range, which will make a proper rounding bottom,

3. if in future it sustain above 135 too, then there is a possibility for going up for another 40-50 rs from 135 range, for a rounding bottom break out

4.u can keep 105 as sl, no problem, normally i keep "a candle close below the break out level" as sl, as i follow it "by closing" so i hardly have my sl hit, but at the same time, i run into the risk of paying more if it ever it hits
(simply bcoz u cant help but to wait for a close even if it is going down), so here, choice is urs.

5. finally, the green line is not a divergence, here stock and rsi both are going up, hence no divergence

(some ppls follow "hidden divergence" concept, i am not familiar with it and for me its still confusing, so cant say if its any form of hidden div or not, but its not a regular div for sure, and it does not shows any chance of major fall as of now, form eod chart at least)


and here is my (un)registered trade mark

[S.S.]

thank u dada...but still not clear abt the divergence

[S.S.]

sorry casper but once again i m posting tata power

first drawing ia bearish n 2nd is bullish div is it correct ???? (if no then plz explain it)
if yes then there is two chart tatapower daily n weekly why cant we consider it as divergence????

[casper]

saumik

a big mistake u r committing

in ur chart, what u marked as a bullish div is not at all a bullish div, bcoz in bullish divs u consider BOTTOMS, and in bearish div, u consider TOPS, so, ur bullish div cant be valid any way as u considered tops and saying its bullish, hence weekly div that u posted as bullish is not valid

secondly

we look at div in EXTREMES

for bullish div, its a sort of mandatory to look for div when rsi is OS

for bearish div , it should be OB,

if u cant find OB/OS still u have to be near that range like looking for bullish one around rsi 30 but not above , say 35

and looking for bearish one around rsi 70 but not below 65 or so
(though i personally follow OB/OS rule RELIGIOUSLY)

hence, the chart u marked as bearish in daily is not at all bearish in this tf as rsi is much lower than 70

to have a safe journey, never look for div when rsi is not OB/OS



by the way, if u look at the tata power in smaller real time charts like 5 to 60 min charts, u may find some div there, i hv not checked, but it looks like...

but try to make sure that rsi MUST BE ob/os when u find a div

[casper]

[S.S.]

[ronypan]

[codered]

Vinst are you alive?

[sumesh_sol]