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a layman's approach to break out and break down |
ravionlinek
White Belt
Joined: 11 Jun 2010
Posts: 97
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Post: #586  Posted: Fri Dec 03, 2010 11:14 am Post subject: |
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Casper just chek Ntpc last 5 days chart is there Head and Shoulders Top (Reversal)
pattern lookalike 182 is neck line............ 
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casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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ravionlinek
White Belt
Joined: 11 Jun 2010
Posts: 97
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| Post: #589 Posted: Fri Dec 03, 2010 11:57 am Post subject: |
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Thanxxxxx
will wait 4 it
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casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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| Post: #590 Posted: Fri Dec 03, 2010 12:02 pm Post subject: |
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| casper wrote: | | ravionlinek wrote: | Casper just chek Ntpc last 5 days chart is there Head and Shoulders Top (Reversal)
pattern lookalike 182 is neck line............ |
bullish eye hit ravi bhai 
a break below 180 will confirm the formation, but we have to be careful at the weekly pivot at 180, it will choke the downfall for sometime atleast
when it is also broken. u can add more shorts |
sorry made a mistake!!!
breaking below 182 will confirm the pattern but below 180 u can add more shorts
i wrote both number as 180,
sorry for confusion
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ravionlinek
White Belt
Joined: 11 Jun 2010
Posts: 97
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| Post: #591 Posted: Fri Dec 03, 2010 12:17 pm Post subject: |
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| casper wrote: | | casper wrote: | | ravionlinek wrote: | Casper just chek Ntpc last 5 days chart is there Head and Shoulders Top (Reversal)
pattern lookalike 182 is neck line............ |
bullish eye hit ravi bhai
a break below 180 will confirm the formation, but we have to be careful at the weekly pivot at 180, it will choke the downfall for sometime atleast
when it is also broken. u can add more shorts |
sorry made a mistake!!!
breaking below 182 will confirm the pattern but below 180 u can add more shorts
i wrote both number as 180,
sorry for confusion |
...................................................................................................
Its ok sir
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ragarwal
Yellow Belt
Joined: 16 Nov 2008
Posts: 582
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| Post: #592 Posted: Fri Dec 03, 2010 12:18 pm Post subject: |
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| dear casper cn u tell me wat can b d possible trgets fr gspl in d near term.
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casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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| Post: #593 Posted: Fri Dec 03, 2010 12:30 pm Post subject: |
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| ragarwal wrote: | | dear casper cn u tell me wat can b d possible trgets fr gspl in d near term. |
its forming a descending triangle in eod chart. price will oscillate between upper and lower tl for sometime now
then it may give a break down from 105 level, roughly target will be around 80
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vrushabh123
White Belt
Joined: 18 Nov 2010
Posts: 39
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| Post: #594 Posted: Fri Dec 03, 2010 1:54 pm Post subject: hii casper.. |
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i just saw ur post for ABG n ALOK...its a diff type of flad na..can u pl explain abt it also how to calculate tgt for it.. In EOD for ALOK its a small flag formed but every candle higher than the previous..u to know abt it..n u talked abt some encyclopedia...is it on icharts or some other site..pl tell wanna read too..it will be of great help...
THANKS...
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vrushabh123
White Belt
Joined: 18 Nov 2010
Posts: 39
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| Post: #595 Posted: Fri Dec 03, 2010 3:34 pm Post subject: hii |
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| and pl see EOD of orient abrassive is it S.T a perfect and BO has occured at 37..tgt for which comes 49..hope i m right..
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casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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| Post: #596 Posted: Fri Dec 03, 2010 4:13 pm Post subject: Re: hii casper.. |
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| vrushabh123 wrote: | i just saw ur post for ABG n ALOK...its a diff type of flad na..can u pl explain abt it also how to calculate tgt for it.. In EOD for ALOK its a small flag formed but every candle higher than the previous..u to know abt it..n u talked abt some encyclopedia...is it on icharts or some other site..pl tell wanna read too..it will be of great help...
THANKS... |
1. for calculating a flag or pennant target u have to draw a line from the top part of the pattern up to the immediate resistance/support it has broken,
its known a s flag pole
then u have to project the flag pole form break out or break down point
that should be ur rough target. plz see the aloke chart i posted for girish bhaiya for an example
2.the encyclopedia we are talking abot is a book written by thomas bulkowasky . he is an international "guru" of pattern trading,
his personal home page is http://www.thepatternsite.com/
his book is available for free(!!!!!!!) in various sites which i cant not name here 
in fact i wrote about his site only after st sir's permission in which he wrote to vishy tht pattern site link is okey. or else i wont dare to post this link also
anyway, his site also contains various informations about the patterns and if u want to get a free copy(????!!!!) of his book then just search it in google
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casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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| Post: #597 Posted: Fri Dec 03, 2010 4:24 pm Post subject: Re: hii |
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| vrushabh123 wrote: | | and pl see EOD of orient abrassive is it S.T a perfect and BO has occured at 37..tgt for which comes 49..hope i m right.. |
yes u r right, but its more of a pennant than a sym. tri as it has formed over a smaller time, but personally i dont like this chart, seems to me too much volatile
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girishhu1
White Belt
Joined: 17 Aug 2009
Posts: 316
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| Post: #598 Posted: Fri Dec 03, 2010 7:19 pm Post subject: Re: hii casper.. |
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| casper wrote: | | vrushabh123 wrote: | i just saw ur post for ABG n ALOK...its a diff type of flad na..can u pl explain abt it also how to calculate tgt for it.. In EOD for ALOK its a small flag formed but every candle higher than the previous..u to know abt it..n u talked abt some encyclopedia...is it on icharts or some other site..pl tell wanna read too..it will be of great help...
THANKS... |
1. for calculating a flag or pennant target u have to draw a line from the top part of the pattern up to the immediate resistance/support it has broken,
its known a s flag pole
then u have to project the flag pole form break out or break down point
that should be ur rough target. plz see the aloke chart i posted for girish bhaiya for an example
2.the encyclopedia we are talking abot is a book written by thomas bulkowasky . he is an international "guru" of pattern trading,
his personal home page is http://www.thepatternsite.com/
his book is available for free(!!!!!!!) in various sites which i cant not name here
in fact i wrote about his site only after st sir's permission in which he wrote to vishy tht pattern site link is okey. or else i wont dare to post this link also
anyway, his site also contains various informations about the patterns and if u want to get a free copy(????!!!!) of his book then just search it in google |
hi casperji/vrushabh,
just a little additional info.
htf discovered by o;neil.
first condition for this pattern is stock should have moved up by 100% in last months.
casperji, pl note the rule for fixing targets.
measure the rise leading to the flag and project half of it upward, using the flag low.
this is one of the most reliable patterns having failure rate less than 10% and avg rise about > 69%. and rated no 1among all patterns by bulkowsky.
other details can be found on sites.
regards,
girish
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sumesh_sol
Brown Belt
Joined: 06 Jun 2010
Posts: 2344
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| Post: #599 Posted: Fri Dec 03, 2010 8:39 pm Post subject: GPIL : DAILY.... |
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Here is a Ascending pattern in GPIL (daily chart)... Today it saw huge volume, so chances are it may blast on monday if breaks out (above 195)
RSI Buy mode, MACD still not in buy zone but turning up !!
Target could be 210..may be in 2-3 days depending on mkt momentum...
-Sumesh
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spurt
White Belt
Joined: 12 Jan 2010
Posts: 13
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| Post: #600 Posted: Fri Dec 03, 2010 9:07 pm Post subject: GPIL Target and Dena Bank |
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Hi Sumesh,
Thanks ! How did you calculate the target for 2-3 of 210 can you please help explain thanks.
Can you check the Dena Bank,, I believe its showing a downtrend.
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