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Butterfly Pattern |
sureenderkalra
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Joined: 11 Dec 2012
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Post: #91  Posted: Wed Sep 25, 2013 10:02 pm Post subject: |
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I saw +ww of reliace in "Running With The Wolves" posted by rk_a2003 today. By looking this chart, it clicked in mind that it might be a bullish butterfly as well so I checked the same and found that Reliance is holding Bullish Gartley Pattern as well as Bullish Butterfly pattern too.
I am attaching a chart which is self explanatory. |
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amitagg
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Joined: 01 Oct 2013
Posts: 4559
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| Post: #92 Posted: Sun Jan 05, 2014 1:56 am Post subject: |
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something very interesting.....
i) look at reliance chart below for seeing similar pattern/ projection for current Nifty
ii) see attached Butterfly Bullish Pattern [ wherein we are forming D leg down] - to waht extent "down move" shall continue
iii) look at attached Nifty chart
iv) look at excel cals.....
any thoughts welcome.
confluence of my earlier analysis of "one wave down" and this one recently seen [again Gartley / butterfly similar to EW] suggests bottom around 6000 region......4 values [meaning possible counts] fall within 5970-6116....
views welcome.... |
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amitagg
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| Post: #93 Posted: Sun Jan 05, 2014 2:00 am Post subject: |
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| Excel calculations attached further to below |
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sureenderkalra
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Joined: 11 Dec 2012
Posts: 174
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| Post: #94 Posted: Sun Jan 05, 2014 4:28 pm Post subject: Nifty Bullish Gartley or Bearish Butterfly |
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| amitagg wrote: | something very interesting.....
i) look at reliance chart below for seeing similar pattern/ projection for current Nifty
ii) see attached Butterfly Bullish Pattern [ wherein we are forming D leg down] - to waht extent "down move" shall continue
iii) look at attached Nifty chart
iv) look at excel cals.....
any thoughts welcome.
confluence of my earlier analysis of "one wave down" and this one recently seen [again Gartley / butterfly similar to EW] suggests bottom around 6000 region......4 values [meaning possible counts] fall within 5970-6116....
views welcome.... |
Hi Amit,
Thanks for uploading excel cals...
Amit, In my opinion, it will be too early to say whether nifty is forming bullish gartley pattern or bearish butterfly pattern this time.
If it is forming bullish gartley then it should touch 6089 and reverse or in case, it is forming bearish butterfly then it might touch 6180 max and reverse to form D pivot point that sits above 6500.
so i suggest one should wait for couple of days to get it formed.
Chart is attached |
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vinay28
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Joined: 24 Dec 2010
Posts: 11748
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| Post: #95 Posted: Sun Jan 05, 2014 5:01 pm Post subject: Re: Nifty Bullish Gartley or Bearish Butterfly |
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| sureenderkalra wrote: | Hi Amit,
Thanks for uploading excel cals...
Amit, In my opinion, it will be too early to say whether nifty is forming bullish gartley pattern or bearish butterfly pattern this time.
If it is forming bullish gartley then it should touch 6089 and reverse or in case, it is forming bearish butterfly then it might touch 6180 max and reverse to form D pivot point that sits above 6500.
so i suggest one should wait for couple of days to get it formed.
Chart is attached |
any which way ..... result in Jan is clear. |
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dynamite_munda11
Yellow Belt
Joined: 14 Nov 2010
Posts: 681
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| Post: #96 Posted: Sat Feb 08, 2014 8:38 pm Post subject: tata steel |
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| tatasteel AB=CD bearish keep stop loss of 391/394 |
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dynamite_munda11
Yellow Belt
Joined: 14 Nov 2010
Posts: 681
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| Post: #97 Posted: Sat Feb 08, 2014 9:37 pm Post subject: reliance daily |
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| reliance daily bullish butterfly pattern long at 792 with stop at 790/784 |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #98 Posted: Sun Feb 09, 2014 10:49 am Post subject: Re: reliance daily |
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| dynamite_munda11 wrote: | | reliance daily bullish butterfly pattern long at 792 with stop at 790/784 |
interesting since RIL is in a range of 800 to 850 so one can trade accordingly with SLs just below/above daily close below/above 800/850. Your chart means three things, namely, either (a) it will go to 792 and, if butterfly pattern has to form and give results, it must close above 800 or (b) it may not go to 792 and butterfly may be invalid, or (c) it may keep sliding down to about 760. Right? |
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dynamite_munda11
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Joined: 14 Nov 2010
Posts: 681
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| Post: #99 Posted: Sun Feb 09, 2014 11:47 am Post subject: Re: reliance daily |
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| vinay28 wrote: | | dynamite_munda11 wrote: | | reliance daily bullish butterfly pattern long at 792 with stop at 790/784 |
interesting since RIL is in a range of 800 to 850 so one can trade accordingly with SLs just below/above daily close below/above 800/850. Your chart means three things, namely, either (a) it will go to 792 and, if butterfly pattern has to form and give results, it must close above 800 or (b) it may not go to 792 and butterfly may be invalid, or (c) it may keep sliding down to about 760. Right? |
would look at for long at 805 and 802 , since 805 is 1.618 of the move from 840-897 and 802 is 1.13of XA from 816-927 and 805/798 are gann supports too , if breaks 798 next addition would be at 792 |
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sureenderkalra
White Belt
Joined: 11 Dec 2012
Posts: 174
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| Post: #100 Posted: Sun Feb 09, 2014 12:23 pm Post subject: Butterfly chart of Abirlanuvo |
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Posting a chart of abirlanuvo that is holding butterfly pattern.
I noticed it today. I too could not trade. This is already on the way.
Chart is self explanatory and help you how to trade in butterfly pattern.
In butterfly pattern, B pivot is a decisive point and it confirms whether any chart is holding butterfly pattern or not. I mean, B pivot point should be .786 of XA or very very near to it. If B pivot is .618 or .886 of XA then one should not consider this as a butterfly. |
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amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
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| Post: #101 Posted: Sun Feb 09, 2014 4:46 pm Post subject: Re: reliance daily |
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al in all Bullish Butterfly for both Nifty and Reliance which i posted few weeks back in this thread as seen below......if 5940 hold for February, in my view, it would not be breached.....if i am wrong, March breach would be low "for next few months".....for both reliance and nifty...again based on this pattern
| dynamite_munda11 wrote: | | vinay28 wrote: | | dynamite_munda11 wrote: | | reliance daily bullish butterfly pattern long at 792 with stop at 790/784 |
interesting since RIL is in a range of 800 to 850 so one can trade accordingly with SLs just below/above daily close below/above 800/850. Your chart means three things, namely, either (a) it will go to 792 and, if butterfly pattern has to form and give results, it must close above 800 or (b) it may not go to 792 and butterfly may be invalid, or (c) it may keep sliding down to about 760. Right? |
would look at for long at 805 and 802 , since 805 is 1.618 of the move from 840-897 and 802 is 1.13of XA from 816-927 and 805/798 are gann supports too , if breaks 798 next addition would be at 792 |
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dynamite_munda11
Yellow Belt
Joined: 14 Nov 2010
Posts: 681
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| Post: #102 Posted: Sun Feb 09, 2014 6:30 pm Post subject: Re: reliance daily |
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| amitagg wrote: | al in all Bullish Butterfly for both Nifty and Reliance which i posted few weeks back in this thread as seen below......if 5940 hold for February, in my view, it would not be breached.....if i am wrong, March breach would be low "for next few months".....for both reliance and nifty...again based on this pattern
| dynamite_munda11 wrote: | | vinay28 wrote: | | dynamite_munda11 wrote: | | reliance daily bullish butterfly pattern long at 792 with stop at 790/784 |
interesting since RIL is in a range of 800 to 850 so one can trade accordingly with SLs just below/above daily close below/above 800/850. Your chart means three things, namely, either (a) it will go to 792 and, if butterfly pattern has to form and give results, it must close above 800 or (b) it may not go to 792 and butterfly may be invalid, or (c) it may keep sliding down to about 760. Right? |
would look at for long at 805 and 802 , since 805 is 1.618 of the move from 840-897 and 802 is 1.13of XA from 816-927 and 805/798 are gann supports too , if breaks 798 next addition would be at 792 |
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nifty first to touch 5865/5845 lvl and than probabily may rise |
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dynamite_munda11
Yellow Belt
Joined: 14 Nov 2010
Posts: 681
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| Post: #103 Posted: Sun Feb 09, 2014 7:04 pm Post subject: nifty daily |
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| 1.27 of BC is 5850 and .786 of 5690-6415 is 5845 |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #104 Posted: Sun Feb 09, 2014 7:28 pm Post subject: Re: reliance daily |
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| dynamite_munda11 wrote: | | would look at for long at 805 and 802 , since 805 is 1.618 of the move from 840-897 and 802 is 1.13of XA from 816-927 and 805/798 are gann supports too , if breaks 798 next addition would be at 792 |
right thanks |
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dynamite_munda11
Yellow Belt
Joined: 14 Nov 2010
Posts: 681
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| Post: #105 Posted: Mon Feb 10, 2014 6:26 pm Post subject: IDEA daily |
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| idea daily bullish butterfly with D point at 123/124 , keep stop for long at 121 |
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