iCharts Discussions

[amitagg]

WELGROs 2817 level held very well today . Just like expanded triangle pattern could not break on upside ( 2 points shy of 2825) and ( yesterday my stop level 2870 level was not hit by 2 points)........

It seems downtrend is continuing to hit triangle pattern target of 2725 and then 42 dollars ( some 70 percent retrace from top on monthly) equi 2600 levels
Cmp 45 use

But break of 2770 is important to open the bear targets ....cmp 2790

It seems 44.9/44.3 level shall go in a gap down only for MCX

[amitagg]

I was whipsawed twice or thrice over the past 2-3 days on my SELF crude trades which usually add to the kitty otherwise.

Important observation

Should I read this as a PRECURSOR to change in trend for CRUDE . Time will tell

( last time NIFTY and CRUDE were at important resistances (7700-7800) and supports respectively , despite what I anticipated there was a BREAKOUT in both on opposite sides)

This time I am feeling similar ( timing)

Crude declines have become more narrower after 5 months of declines. It has touched 43.75.

While 33 is one number to go by, if that hits Nifry should hit 9700-10300 which are longer pattern targets ( see various posts of mine, RK etc.) but no one anticipates so quickly

I believe though that both shall not break in opposite directions with crude rallying 300-500 points and again falling back to these levels and nifty halting at 9200-9300 ( or top already made) and falling back below 7700.......

Time shall tell. This is only to say that we are at important TIMING wise reversal moment.

Note that ALL or MOST highs for Nifty are made only in JAN

[AMBY]

IN DEPTH OBSERVATION AND ANALYSIS.

[amitagg]

Following trail posts

Today after a while Rohans bull trigger happened and I am carrying my longs at 2800 with stop at 2680.... Yes 2680 not 2780. Target 2930/3070.

Rahul triggered just a while back to bull for intra day .... Let's see

Irrespective tomorrow closing above 2830 on consecutive hourly basis Important for bull run for tomorrow

Never know crude can fool all.....

After a while higher high higher low daily..... Conservative stoop which can trigger in whipsawing fashion if someone cannot risk 120 points is 2760

Target 47/49 conservative . CMp 45.

[amitagg]

after further analysis....have booked 25 points profit......since below weekly / monthly resistances.......shall play Rohan / Rahul one day at a time.........2870 is critical to clear......point is it can hit 2893-2910 and then fall to 2865 etc....... a bearish WW can give 2770-2750..........just because there is a 'sense' let price support it as well......

[amitagg]

Missed it!!!!! Sadly.

45 to 48.33 over 180 points in one day and 120 gain after market closed mix

Was unwell and and they say you are not the best to trade when that happens ( SL could have been used better .... Since that was wider did not want to keep the trade open and 2830 was not being crossed and being somewhat unwell could not wait and watch till end of day.)

Could just however " sense" the move earliest and amidst all odds and hence did open this thread.

Actually taking mostly intra day trades I can guess the " initiation" of move ( which happens on intra day time frame only) but need to be disciplined enough to transgress to positional trades

It is discpline and money management that makes the money but predicting direction is somewhat easier. And end of day results count not ifs and buts!!!!!

Would seek pleasure some other day.

[AMBY]

SIMPLY SUPERB, CRUDE HIGH 3100, $ 50.32.

[amitagg]

[AMBY]

I COULD NOT TRADE AS I AM TRAVELING, BUT YOU DESERVE CONGRATS FOR CLEAR CUT DIRECTION.

[amitagg]

300-500 point rally shall face a retrace sooner.....cmp 3236

3280-3330 is resistance with SL as 3390 for positional shorts........wanting crude to go back to 44 or 33 or 20........

tomorrow I shall short in small quantity in "grade prices" if there is a decent gap up to 3280-3300 levels.......

otherwise.....shall wait for 3270-3277 or above AND see intra day price action .....although 3330-3350 can be touched.

cmp 53....55 USD is resistance. (figures should be taken in decimals for trades these are approximations)

morning can take advantage of bull spikes......and shall not short small breakdowns......

[amitagg]

As anticipated 500 point rise came from 2800, then 300 point fall

now back to 3250 plus. Still bullish and shall target 3350 plus minimum. Cmp 3280

Still not getting bullish impulse like waves so this is a bear trend correction. As per EW can rise much more to 59 etc levels cmp 52-53. Nymex

3280 is start of some time frame supply zone so likely move down before the uptrend

Now guessing every move is difficult so errors are possible

[amitagg]

[amitagg]

CMP 3254.....

seems like a Wedge break today and minor intra wedge break can happen below 5230.......

target 3340-3248= 90 -3248=3158......some 3170/3181......

also ABC retrace possible for C on "downside".....with C starting 3340
A ending 2960
B ending 3340......

but monthly weekly shall support at 3150-3170 levels......that's what

buy lower and sell higher for THIS week.....since crude not our of woods.....

[amitagg]

[amitagg]