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RUNNING WITH THE WOLVES |
rk_a2003
Black Belt
Joined: 21 Jan 2010
Posts: 2734
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Post: #391  Posted: Sat Sep 10, 2011 9:44 am Post subject: |
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A fresh look In to WW in NIFTY ( EOD ).
Longs can be initiated and carried only above Line 135
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rk_a2003
Black Belt
Joined: 21 Jan 2010
Posts: 2734
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jjm
White Belt
Joined: 17 Mar 2010
Posts: 411
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| Post: #393 Posted: Sat Sep 10, 2011 11:46 am Post subject: Re: NF_30 min TF |
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| adsingh101 wrote: | Dear JJM/Sumesh,
Kindly correct me if i am wrong. |
Adsingh,
Pattern is perfect ..do add vol indicator and observe the the volume @ all pts when you get a probable pattern which has formed pt 3 and 4..
On vol interpretation I am still learning. Mr. Muthuswamy might throw some light on Volume spread analysis at Pts..
Mr.Muthuswamy/Jayaraman requested to have your comments on VSA
Tata steel is invalid pattern as pt 4 is not lying between Pt 1 and 2
For + WW we need TL joining pt 1&4 shld be in upward direction
JJM
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jjm
White Belt
Joined: 17 Mar 2010
Posts: 411
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| Post: #394 Posted: Sat Sep 10, 2011 11:49 am Post subject: |
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| ronypan wrote: | | jjm wrote: | 
JJM |
dear jjm,
does precision follow this method?
rony |
Dear Rony,
I did not get you?? 
JJM
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ronypan
White Belt
Joined: 07 Aug 2010
Posts: 197
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| Post: #395 Posted: Sat Sep 10, 2011 12:03 pm Post subject: |
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I saw your old posts with charts of precision software.. so I thought you might have learnt the method of them.. So was just asking you that Do you still follow that method and software?
Rony
| jjm wrote: | | ronypan wrote: | | jjm wrote: |
JJM |
dear jjm,
does precision follow this method?
rony |
Dear Rony,
I did not get you??
JJM |
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jjm
White Belt
Joined: 17 Mar 2010
Posts: 411
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| Post: #396 Posted: Sat Sep 10, 2011 12:20 pm Post subject: |
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No
They do not use this. I have stopped their services.. reason no need to pay rs. 10,000 for yearly subscription that too only for EOD data.. when one can have both EOD as well as Intra from I chart for much lesser price...
Regards,
JJM
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ronypan
White Belt
Joined: 07 Aug 2010
Posts: 197
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| Post: #397 Posted: Sat Sep 10, 2011 12:30 pm Post subject: |
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That's absolutely true... I was using it before a year But stopped it because It was too expensive and before Wasn't aware about all the methods, patterns and all.. But iChart is the best place to learn and its web based application..
By the way thanks for reply.. Happy Trading.
| jjm wrote: | No
They do not use this. I have stopped their services.. reason no need to pay rs. 10,000 for yearly subscription that too only for EOD data.. when one can have both EOD as well as Intra from I chart for much lesser price...
Regards,
JJM |
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jjm
White Belt
Joined: 17 Mar 2010
Posts: 411
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| Post: #398 Posted: Sat Sep 10, 2011 1:57 pm Post subject: |
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Wanting to share a recent observation in WW patterns..
A bar that forms Pt 5 in pattern not necessarily touching TL drawn from pt 1 to 3
One has to see the value of bar...if we are getting HH/LL value at pt 5..still Waves are considered and respective tgts are met..
For illustration posting few charts..
Now request to all those who has been studying can share their views or write up if they have any..
Do we have a valid Pt 5 always touching to TL or overshooting TL ..Can it be considered valid pt 5 even if undershoots..
If we have three conditions ;
a) touching TL
b) overshooting TL
c) undershooting TL
Where the hell am I going to create my position..this is the dilemma I am still facing
Regards,
JJM
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rk_a2003
Black Belt
Joined: 21 Jan 2010
Posts: 2734
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| Post: #399 Posted: Sat Sep 10, 2011 2:17 pm Post subject: |
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The classical WW pattern explains overshooting at point 5 and convergence of line 1 3 5 and line 2 4 . It also accepts without overshooting at point 5 and without convergence of lines.
I have not read any thing about undershooting .Still as per your charts it appears even undrshooting is possible. Logically also we can say when overshooting is possible why not undershooting. We need to back test it on several times then only we can conclude.
One more observation is if we take wicks as reference we get optimistic price targets, and if we take real body as reference we get conservative targets.
| jjm wrote: | Wanting to share a recent observation in WW patterns..
A bar that forms Pt 5 in pattern not necessarily touching TL drawn from pt 1 to 3
One has to see the value of bar...if we are getting HH/LL value at pt 5..still Waves are considered and respective tgts are met..
For illustration posting few charts..
Now request to all those who has been studying can share their views or write up if they have any..
Do we have a valid Pt 5 always touching to TL or overshooting TL ..Can it be considered valid pt 5 even if undershoots..
If we have three conditions ;
a) touching TL
b) overshooting TL
c) undershooting TL
Where the hell am I going to create my position..this is the dilemma I am still facing
Regards,
JJM |
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ronypan
White Belt
Joined: 07 Aug 2010
Posts: 197
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| Post: #400 Posted: Sat Sep 10, 2011 2:19 pm Post subject: |
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OIL - Is it valid>???
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ronypan
White Belt
Joined: 07 Aug 2010
Posts: 197
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| Post: #401 Posted: Sat Sep 10, 2011 2:32 pm Post subject: |
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M&M--- Is is valid pattern and right time to short M&M in weekly chart?
Experts please comments..
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vinst
Black Belt
Joined: 09 Jan 2007
Posts: 3303
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| Post: #402 Posted: Sat Sep 10, 2011 2:52 pm Post subject: |
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| ronypan wrote: | M&M--- Is is valid pattern and right time to short M&M in weekly chart?
Experts please comments.. |
this pattern is neither a channel, nor a wedge. it looks more like a symmetric triangle (shape wise). i guess, it is not a valid pattern.
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rk_a2003
Black Belt
Joined: 21 Jan 2010
Posts: 2734
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| Post: #403 Posted: Sat Sep 10, 2011 2:56 pm Post subject: |
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Ronypan!
I am not an expert,still I would like to say that for a bearish ww pattern line 1 3 5 and line 2 4 also should be a rising .In this case it was not.
In fact line 135 appeared to be falling. In my view it is not a valid ww
In OIL case the lines should be falling , it is not the case, In fact they appeared to be rising, therefore this is also not a valid bullish ww.
Remember one thumb rule , for Bullish WW upper and lower trend lines should be falling for Bearish WW they should be rising . Basically WW is a reversal in trend.
| ronypan wrote: | M&M--- Is is valid pattern and right time to short M&M in weekly chart?
Experts please comments.. |
Last edited by rk_a2003 on Sat Sep 10, 2011 3:05 pm; edited 2 times in total |
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jjm
White Belt
Joined: 17 Mar 2010
Posts: 411
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| Post: #404 Posted: Sat Sep 10, 2011 2:58 pm Post subject: |
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| ronypan wrote: | M&M--- Is is valid pattern and right time to short M&M in weekly chart?
Experts please comments.. |
Rony we need HH ..pt5>pt3>p1 for bullish and LL for bearish : Pt5< pt3<pt1
Most important : Pt 4 lies betn pt 1 and 2
Hope it is clear
Regards,
JJM
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jjm
White Belt
Joined: 17 Mar 2010
Posts: 411
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| Post: #405 Posted: Sat Sep 10, 2011 3:03 pm Post subject: |
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Rony
oops..  it has to be exactly in reverse manner
Sorry for typo
Regards,
JJM
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