iCharts Discussions

amitdate76 · White Belt Joined: 02 Feb 2009 Posts: 34

Shrikant Sir,

Can you please give the link to the old posts on this forum where you used to post charts to explain the strategy ?

Thanks,
Amit Date

SwingTrader · Posted: Mon Oct 11, 2010 7:16 pm Post subject:

SwingTrader · Posted: Tue Oct 12, 2010 9:11 am Post subject:

12.10.2010

NF has opened between BEAR & LOC and currently is at BEAR level. 89 EMA is flat so this move can go in any direction. A break below BEAR will take NF to test the key S1 level a break below which will accelerate the down move. On the other hand a break above LOC will be bullish.

SwingTrader · Posted: Wed Oct 13, 2010 9:30 am Post subject:

13.10.2010

NF between BULL & LOC. LOC is key support (both 34 & 89 EMA confluence), a break below it and we will see NF testing BEAR. Below BEAR the down move can accelerate. A break above BULL on the other hand will setup a test of the key R1 level above which we can see significantly higher prices.

SwingTrader · Posted: Thu Oct 14, 2010 9:18 am Post subject:

14.10.2010

NF in BULL-R1 band which is a major resistance when price is rising into it. Sustained up move is possible only above R1. Below BULL we can go into consolidation until the key 34/89 EMAs catch up with currently extended price.

SwingTrader · Posted: Fri Oct 15, 2010 9:06 am Post subject:

15.10.2010

NF hit hard resistance in the BULL-R1 band at open, 34 & 89 EMAs are also in this band which means the resistance there is major. This indicates weakness, at least for now. Significant up move now possible only above R1.

If market moves and stays below LOC a move to BEAR-S1 band may be imminent. How price behaves in that band will decide a possible upmove to test BULL-R1, a break below BEAR-S1 will accelerate the down move.

SwingTrader · Posted: Fri Oct 15, 2010 11:14 am Post subject:

As expected NF in BEAR-S1 band...finding some support here. We can expect a test of BULL-R1 if it breaks above BEAR. LOC, 34/89 EMAs are key resistances on the way to BULL-R1. Clear uptrend only above R1 now.

In the meantime if NF breaks below S1 then we will see down move accelerating...

SwingTrader · Posted: Fri Oct 15, 2010 12:43 pm Post subject:

NF still in BEAR-S1 band...just bouncing around. A break above bear will take us to LOC + 89 EMA resistance above which we are clear until Bull-R1 band. On the other hand, a break below S1 may take us quickly to S3 and further based on how price reacts to S3 support.

kanna · White Belt Joined: 03 Jan 2010 Posts: 91

excellent ST. NF just danced to your views clap

SwingTrader · Posted: Mon Oct 18, 2010 9:26 am Post subject:

18.10.2010

We are at the key support level - BEAR-S1. We can expect significant support here. If S1 breaks we go down further, if S1 holds and supports price then we can rally from here (at least until price catches up with the falling EMAs - 34 & 89), this could happen around BULL-R1 area.

SwingTrader · Posted: Mon Oct 18, 2010 10:43 am Post subject:

Significant resistance until BEAR....up move possible only above this level and that too major up move only when price clears 89 EMA which is current around BULL level.

Until then the direction is sideways to down...

SwingTrader · Posted: Tue Oct 19, 2010 12:51 pm Post subject:

19.10.2010

I was out of the office on some work since morning, just returned to my desk.

NF fell down to the BEAR-S1 band and found strong support, 34 & 89 EMAs also were in this band so support was strong. It was a buy on a close above bear level after price was supported in this band and also took support at 89 EMA. I will be bearish only on a break below BEAR (as price would break 89 EMA also when this happens), the last support strong being S1.

Until then bullish...

SwingTrader · Posted: Tue Oct 19, 2010 1:59 pm Post subject:

NF now in BULL-R1 band which is a major sup/res zone. A break above R1 will accelerate the up move, a break below Bull will result in a reversal of this up move or at a minimum put us in a sideways move between bull & loc.

SwingTrader · Posted: Tue Oct 19, 2010 2:41 pm Post subject:

Wow! what a reversal from BULL-R1....back to BEAR-S1. A break below S1 will continue the down move. Up move now possible only above LOC.

SwingTrader · Posted: Wed Oct 20, 2010 9:19 am Post subject:

20.10.2010

I am bullish above BULL (89 & 34 EMAs also around this area) and bearish below BEAR only. If NF stays between BULL & BEAR then we will be in a sideways move.