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Newbie Probable Trades - Tribute to our Teachers. |
chetan83
Brown Belt
Joined: 19 Feb 2010
Posts: 2036
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Post: #1  Posted: Sun Jan 23, 2011 1:32 pm Post subject: Newbie Probable Trades - Tribute to our Teachers. |
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My urge here will be to all newbies including me, to post a chart (whether right or wrong) with a probable target and SL & why we are going to take the trade (with the reason, of what Casper/Manju and Spec discuss, I mean the different set-ups).
I think this will refine our trade day on day basis and also by taking such steps we can go a step further.
{tabhi to chela guru ko Guru Dakshina de sakega}.
Be the first to ask such question on Why, When & How, by putting up the chart for simplicity.
I think it will be a tedious job for our Teachers, but I know they would be glad to polish us!!
Teachers please drop in with your views and we will respect your opinion on why, when & How.
I also urge Sumesh/Crome/Veeru Sir (if he is ready to post the same with charts) Sid/Ravee/Amit who are senior then us, to come up and share the knowledge with us.
Last edited by chetan83 on Sun Jan 23, 2011 11:01 pm; edited 1 time in total |
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casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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| Post: #2 Posted: Sun Jan 23, 2011 1:51 pm Post subject: |
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hi chetan 83
nice effort just keep it up
as far as i am concerned
i will be always with u in any constructive /educative effort and will share what lil bit i understand
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amitkbaid1008
Yellow Belt
Joined: 04 Mar 2009
Posts: 540
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| Post: #3 Posted: Sun Jan 23, 2011 4:19 pm Post subject: Re: Newbie Probable Trades - Tribute to our Teachers. |
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| chetan83 wrote: | My urge here will be to all newbies including me, to post a chart (whether right or wrong) with a probable target and SL & why we are going to take the trade (with the reason, of what Casper/Manju and Spec discuss, I mean the different set-ups). I think this will refine our trade day on day basis and also by taking such steps we can go a step further.
{tabhi to chela guru ko Guru Dakshina de sakega}.
Be the first to ask such question on Why, When & How, by putting up the chart for simplicity.
I think it will be a tedious job for our Teachers, but I know they would be glad to polish us!!
Teachers please drop in with your views and we will respect your opinion on why, when & How.
I also urge Sumesh/Veeru Sir (if he is ready to post the same with charts ) Sid/Ravee/Amit who are senior then us, to come up and share the knowledge with us. |
Nice thought Chetan |
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chetan83
Brown Belt
Joined: 19 Feb 2010
Posts: 2036
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| Post: #4 Posted: Sun Jan 23, 2011 11:23 pm Post subject: REC LTD. |
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Hi All,
Posted a chart of REC, with probable trade to sell it on 24/01/11.
Please correct if I am wrong. |
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casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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| Post: #5 Posted: Sun Jan 23, 2011 11:30 pm Post subject: |
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hi chetan83
it has not broken down yet
i see the lower tl a lil below of where u have drawn it
plz check the chart i am posting
sell below 280 with a candle close and roughly any candle close above bd level is ur sl |
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as4manju
White Belt
Joined: 22 Mar 2007
Posts: 390
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| Post: #6 Posted: Sun Jan 23, 2011 11:59 pm Post subject: Re: Newbie Probable Trades - Tribute to our Teachers. |
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Very good effort chetan sure i will always share my little exp what i have.. Here the only limitation for me is that i dont use intraday charts i specialise in EOD charts..
Regards
| chetan83 wrote: | My urge here will be to all newbies including me, to post a chart (whether right or wrong) with a probable target and SL & why we are going to take the trade (with the reason, of what Casper/Manju and Spec discuss, I mean the different set-ups).
I think this will refine our trade day on day basis and also by taking such steps we can go a step further.
{tabhi to chela guru ko Guru Dakshina de sakega}.
Be the first to ask such question on Why, When & How, by putting up the chart for simplicity.
I think it will be a tedious job for our Teachers, but I know they would be glad to polish us!!
Teachers please drop in with your views and we will respect your opinion on why, when & How.
I also urge Sumesh/Crome/Veeru Sir (if he is ready to post the same with charts) Sid/Ravee/Amit who are senior then us, to come up and share the knowledge with us. |
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as4manju
White Belt
Joined: 22 Mar 2007
Posts: 390
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| Post: #7 Posted: Mon Jan 24, 2011 12:05 am Post subject: Re: REC LTD. |
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Hi chetan,
When trendlines are drawn use the highs and lows to connect the trendlines what ever time frame u use.. usally a trendline should couver more than three candles to say it as a strong BO or BD.. there is no rule as such but its been my observation.. i m posting the charts of power grid have look at it
Regards
Manju
| chetan83 wrote: | Hi All,
Posted a chart of REC, with probable trade to sell it on 24/01/11.
Please correct if I am wrong. |
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chetan83
Brown Belt
Joined: 19 Feb 2010
Posts: 2036
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| Post: #8 Posted: Mon Jan 24, 2011 12:53 am Post subject: ADANI POWER |
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Hi,
Thanks for ur input Casper & Manju Ji, Same has been noted for my future ref.
Pls see the next chart on Adani Power both in EOD (where AT is formed and also a long symetrical triangle or Penant is getting build up, with flat MACD & RSI) and also in 60Mins where a huge Symetrical triangle is build.
Comment pls. |
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casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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| Post: #9 Posted: Mon Jan 24, 2011 8:15 am Post subject: Re: ADANI POWER |
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| chetan83 wrote: | Hi,
Thanks for ur input Casper & Manju Ji, Same has been noted for my future ref.
Pls see the next chart on Adani Power both in EOD (where AT is formed and also a long symetrical triangle or Penant is getting build up, with flat MACD & RSI) and also in 60Mins where a huge Symetrical triangle is build.
Comment pls. |
hi chetan bhaiyya
blame it on my trading style but whenever i see this kinds of very big pattern in 60 min chart i generally try to find a smaller version of the pattern or just avoid
u know if a pattern takes almost one month to complete then this will give a strong break out for sure, but when? this a a million dollar question and being a day trader, i cant afford to wait and watch so long
so here, going by technicals, i cant say any thing against ur ST in 60 min chart, but i will try to treat it like an AT where the break out level is around 125
again, in eod chart, u will see that the AT also has a bo level at 125 something, so my version in 60 min chart goes in tandem with the eod version which will make my position more strong
i am attaching my version, plz take a look, enter with a bo by a candle close, and then this bo level should act as ur potential sl |
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singh.ravee
Yellow Belt
Joined: 12 Aug 2010
Posts: 678
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| Post: #10 Posted: Mon Jan 24, 2011 9:13 am Post subject: |
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casper,
in adani power 60min and eod, ascending triangle is being formed. If u look at the volumes, the volumes are increasing in both time frame. Isnt it something against the criteria of triangle.
Kindly clarify.
rgds
ravee |
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casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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| Post: #11 Posted: Mon Jan 24, 2011 9:30 am Post subject: |
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| singh.ravee wrote: | casper,
in adani power 60min and eod, ascending triangle is being formed. If u look at the volumes, the volumes are increasing in both time frame. Isnt it something against the criteria of triangle.
Kindly clarify.
rgds
ravee |
though gradually increasing but it is some what maintaining a gross volume, so in order to qualify as a true bo, we will check its volume at bo candel, it should be much higher than the normal candle volume and if 125 is our bo zone, this candle should close above 128 so something like that, then we will consider its a true bo
ps given the at in eod chart, i hope the bo on eod chart will be much more stronger than which we usually get in 60 min chart
here also, vol will play a major role to identify the bo |
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trades4girish
White Belt
Joined: 10 Jul 2009
Posts: 22
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| Post: #12 Posted: Mon Jan 24, 2011 11:00 am Post subject: SBI - Can it be a Long Candidate in near terms ?? |
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Dear All Tech Gurus,
Please guide me for SBI for the following EOD chart. I wanna go Long in this as per the following observations ::
1> Falling Wedge in Down Trend
2> Divergence in Price & RSI marked with circle
3> Price is near to cross previous high. (Still to cross)
4> Volume is goood till this time. (Need to see @ Closing)
Positions will be taken if Point 3 & 4 satisfy terms.
Please let me know that whether the points take to get in the position are correct or not.
With Regards,
Girish V Hanchate
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casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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| Post: #13 Posted: Mon Jan 24, 2011 11:52 am Post subject: Re: SBI - Can it be a Long Candidate in near terms ?? |
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| trades4girish wrote: | Dear All Tech Gurus,
Please guide me for SBI for the following EOD chart. I wanna go Long in this as per the following observations ::
1> Falling Wedge in Down Trend
2> Divergence in Price & RSI marked with circle
3> Price is near to cross previous high. (Still to cross)
4> Volume is goood till this time. (Need to see @ Closing)
Positions will be taken if Point 3 & 4 satisfy terms.
Please let me know that whether the points take to get in the position are correct or not.
With Regards,
Girish V Hanchate
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Girish sir, all is well and the 3rd and 4th criteria, i hope, will be fulfilled by the end of the day.
but, as far as i am concerned, given the RBI policy due on tomorrow i am cautious on market in general and on banks in particular, so i am sorry, i wont be able to advise u to buy it before Wednesday |
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chetan83
Brown Belt
Joined: 19 Feb 2010
Posts: 2036
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| Post: #14 Posted: Mon Jan 24, 2011 4:53 pm Post subject: Re: ADANI POWER |
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| casper wrote: | | chetan83 wrote: | Hi,
Thanks for ur input Casper & Manju Ji, Same has been noted for my future ref.
Pls see the next chart on Adani Power both in EOD (where AT is formed and also a long symetrical triangle or Penant is getting build up, with flat MACD & RSI) and also in 60Mins where a huge Symetrical triangle is build.
Comment pls. |
hi chetan bhaiyya
blame it on my trading style but whenever i see this kinds of very big pattern in 60 min chart i generally try to find a smaller version of the pattern or just avoid
u know if a pattern takes almost one month to complete then this will give a strong break out for sure, but when? this a a million dollar question and being a day trader, i cant afford to wait and watch so long
so here, going by technicals, i cant say any thing against ur ST in 60 min chart, but i will try to treat it like an AT where the break out level is around 125
again, in eod chart, u will see that the AT also has a bo level at 125 something, so my version in 60 min chart goes in tandem with the eod version which will make my position more strong
i am attaching my version, plz take a look, enter with a bo by a candle close, and then this bo level should act as ur potential sl |
Hi All,
Adani power closed at 125.9.
Regards,
Chetan. |
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as4manju
White Belt
Joined: 22 Mar 2007
Posts: 390
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| Post: #15 Posted: Mon Jan 24, 2011 8:34 pm Post subject: Re: SBI - Can it be a Long Candidate in near terms ?? |
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Hi,
Good finding.. i guess most of the news is already in the price and mkts are always ahead of the events so looking at the charts i guess rbi policy would be just fine.. the compnay has come out with excelent results so i think any fall after the news can be bought in (for investing) how ever only above 2700 would mean the stock can go higher...
another observation is that after most of the rbi rate hikes banking stocks have rallied..
Regards
Manju
| trades4girish wrote: | Dear All Tech Gurus,
Please guide me for SBI for the following EOD chart. I wanna go Long in this as per the following observations ::
1> Falling Wedge in Down Trend
2> Divergence in Price & RSI marked with circle
3> Price is near to cross previous high. (Still to cross)
4> Volume is goood till this time. (Need to see @ Closing)
Positions will be taken if Point 3 & 4 satisfy terms.
Please let me know that whether the points take to get in the position are correct or not.
With Regards,
Girish V Hanchate
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