iCharts Discussions

[kvram]

In yahoo basic chart page we see 5,10,20 etc levels but if we want our specific setups like 3,15,550,1030 etc ,please change to those levels in tool bar ,simple

[kvram]

[vinst]

BNF spot in NVK setup to sell (13-nov-2009)

vin

[shekharinvest]

HI,

Posted below is the chart for BNF on 15 min TF.

Chart is showing negative divergence at the critical juncture, that is, just below the 50 sma and on both the occasion it has formed inverted hammer with increased volumes. Trendline starting from yesterdays low has been breached convincingly. ADX is quite low at 11 indicating end of consolidation and the start of new trend is nearby. One can reasonably hope that the trade will be fruitful.



SHEKHAR

[sherbaaz]

[vinst]

BNF 5 (spot) min chart of 13-Nov-2009.
negative divergence between 11:45 and 12:15. subsequently, setup triggered around 12:30, though did not achieve its usual target.

vin

[sherbaaz]

[shekharinvest]

Hi Sherbaaz,

Thanks for your veiws.

I still reiterate my views for the following reasons.

1. The high of the two candles referred to are 9224 and 9215, the candles are formed on 15 min TF Jcharts NEW, ( candles at 12:25 pm and 2:20 pm). The difference between the high price is insignificant 10 points considering the value of BNF at 9000+, double top may be assumed safely.

2. The coressponding values of RSI (5, 20,80) and STS (8,3,5) are more than 15% lower for the corresponding peaks and the divergence is starting from over bought area.

3. Other than the academic details, the setup is quite visible and to be relied on.

Divergences do fail regularly and it can not stop us from trading. Let us leave the rest to the market.

SHEKHAR

[saikat]

Hello,

Hope you all guys are rocking....

Here are 2 charts with NVK setup in SWIING Trading

The short trade (Bajajhind) - I didn't take as I don't do Stock future. But I did happen to book my delivery position @ 240 there.

But the Long one (HCC) I took and it rocked.

The SETUP and rules for SL and Entry are exactly same as before

I am using 60 minutes TF and the analysis are done on Amibroker.

(I still see lots of charts posted in this thread with absolutely wrong setups. I am simply unable to understand what is there so difficult to understand in this setup.. anyway...... )

The rules for EXIT (profit booking) has been tweaked little bit using FIBO retracements or Extensions. As it is SWING - so I thought it was necessary. I would suggest booking part by part - say
- 30% at 61.8%
- 30% at last top (bottom)
- rest at 161.8 % or TL cut

Good stong charts continuously make 161.8% - so it is worth to keep atleast a part for that. Recent case was RENUKA ( 241 was 161.8% of last swing 217.2 -178.5 ).
Incidently Renuka made this setup (on 60 mins TF) on last friday when it hit 222 at 1 pm. I went long there @ 222.5 and hoping for a fast rebound, placed a square off sell order @ 232.5 (no reason for this figure other than I wanted a nice round figure of 10 ) - and Renuka did hit my sqr off order ). Now it may go to 241 again soon. (the chart of Renuka is of 7 minutes TF - just to show the things clearly - but I did take that trade using 60 mins TF only)

Cheers !!!!!

Saikat

[Ravi_S]

[Ravi_S]

[sherbaaz]

Hi Ravi,

Nice efforts putting the divergence in a logical manner. Start a new thread with the same name the i think people would be more benefitted.

Saw the charts which you have attached. I might be wrong but apart from TATAMOTORS class A divergence there is no divergence in other two charts.

Another thing use current chart to explain the divergence so that we all would see what is happening after divergence to price we can track the chart and also learn.

Good going keep it up.

Regards,
Sherbaaz

[Ravi_S]

Hi

I've created a new thread on how to trade divergences... As Sherbaaz suggested did not want to clutter this thread which is specifically for NVK Setup

Regards
Ravi

[venkchandra]

[joshiga]

Hi Saikat,

THanks for the nice explanations on divergence setup.

But, how do you know that the divergence is happening on a particular stock chart. Is there any automatic alert available in amibroker or any other software? Other wise its bit difficult to keep tracking stocks and watch out for divergences.

Girish