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Spike and Channel |
vinst
Black Belt
Joined: 09 Jan 2007
Posts: 3303
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Post: #46  Posted: Tue Oct 08, 2013 4:49 pm Post subject: |
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| amitagg wrote: | yes, thats why i have not taken from some book but only observing and having own parameters....one way to modify this is by saying that 1 - 1.30 [we need to see backtesting time of breakpout?], it there is no breakout, then modify the stop nearer to base ...or entry level..
what happens that though the bresk is likely to come in direction of spike [standard TA], yet in this pattern if the break does not come by a certain time, then the down break is also possible..
so just that since i mentioned inititally itself 90% probability trade, if time elapses, the proability goes down but the risk reward is still fabvourable if stop is revised to a "tight stop"....
also note that players move it out of bank and break on "opposite side " also...since many ringe fencers are betting on volatilty break in ANY direction and are trapped.... thats also a risk is break is not within time
we can build on it...rules are not hard and fast...just that THIS SHOULD BECOME TRADEABLE FOR ALL if "WE" are able to IDENTIFY IN MORNING ITSELF |
fantastic !! |
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amitagg
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Joined: 01 Oct 2013
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| Post: #47 Posted: Wed Oct 09, 2013 11:38 am Post subject: |
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at last identified one...RCAP bought at 340..target futures 344....stop initial 335.5
spike and channel and last 5 days double bottom target at 342 spot
lets go along.... |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #48 Posted: Wed Oct 09, 2013 11:40 am Post subject: |
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| amitagg wrote: | at last identified one...RCAP bought at 340..target futures 344....stop initial 335.5
spike and channel and last 5 days double bottom target at 342 spot
lets go along.... |
how did you miss sam pattern in NF? |
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amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
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| Post: #49 Posted: Wed Oct 09, 2013 12:26 pm Post subject: |
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| yes "strict initial reaction to buy" was based on Nifty trend....but lacked confidence to trade nifty...it was up above 5920-5930...true...the uptrend shall continue through the day...long to exit near end of day only i suggest. |
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reachchirag
White Belt
Joined: 28 Nov 2012
Posts: 102
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| Post: #50 Posted: Wed Oct 09, 2013 12:46 pm Post subject: JPASSOCIATE |
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I believe there is a spike & Channel in JP Associates today... Can you confirm amitagg?
Thanks  |
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amitagg
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Joined: 01 Oct 2013
Posts: 4559
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| Post: #51 Posted: Wed Oct 09, 2013 1:00 pm Post subject: |
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not exact for me since it broken from channel twice to current position...but sure sure buy....pls note read the line thread...these stocks have formed base and would rally...punj jp all ignored high beta stocks..
by the way....RCap target met...i have booked 50% at 244.25 and TSL to cost since i expect market to move higher till end of day |
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amitagg
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Joined: 01 Oct 2013
Posts: 4559
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| Post: #52 Posted: Wed Oct 09, 2013 1:02 pm Post subject: |
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yes..  9 out of 9 ....i have benefitted from 50% since balance could not spot in morning......at least this pattern it gives consistent returns.....simple trend following pattern...nothing to do more |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #53 Posted: Wed Oct 09, 2013 1:03 pm Post subject: Re: JPASSOCIATE |
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| reachchirag wrote: | I believe there is a spike & Channel in JP Associates today... Can you confirm amitagg?
Thanks |
I haven't studied it lately but it is either accumulating or distributing for a big move soon, though I feel up. Being high beta, it will give good profits in trading. |
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EssJay
White Belt
Joined: 05 Sep 2012
Posts: 270
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| Post: #54 Posted: Wed Oct 09, 2013 1:07 pm Post subject: |
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| anyone seen SUn Pharma? |
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reachchirag
White Belt
Joined: 28 Nov 2012
Posts: 102
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| Post: #55 Posted: Wed Oct 09, 2013 1:08 pm Post subject: |
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Thank You Amitagg & Vinay28
| amitagg wrote: | not exact for me since it broken from channel twice to current position...but sure sure buy....pls note read the line thread...these stocks have formed base and would rally...punj jp all ignored high beta stocks..
by the way....RCap target met...i have booked 50% at 244.25 and TSL to cost since i expect market to move higher till end of day |
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amitagg
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Joined: 01 Oct 2013
Posts: 4559
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| Post: #56 Posted: Wed Oct 09, 2013 1:09 pm Post subject: |
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| booked 25% at 348 R cap...zoomed.....8 rs profit better than nifty obviously its rcap |
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amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
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| Post: #57 Posted: Wed Oct 09, 2013 1:16 pm Post subject: |
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| booked balance rcap lot at 350...all out...348 spot is 61.8 % retracement of downmove and resistance at 353-355...for position buy only above sustained uptrend after 355. |
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amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
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| Post: #58 Posted: Wed Oct 09, 2013 10:39 pm Post subject: |
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Sauraj posted at 9.34 in Read the Line Thread today.....broke at 2pm as last one yesterday
"Hi Amitagg,
Please throw some light on crompton greav.It is also beaten down.
Thanks"
its a spike and channel today and exact first target met..attached chart |
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amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
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| Post: #59 Posted: Thu Oct 10, 2013 10:43 am Post subject: |
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Bought Mcleod Russel at 276 ..spike and channel formation in making.......i shall count from now only trades taken as winning losing %....not after market analysis
target 284 stop 268..
lets see if this is the 10% losing one out of 10 since 9 have been successes  |
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RA2148
White Belt
Joined: 06 Jan 2012
Posts: 2
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| Post: #60 Posted: Thu Oct 10, 2013 1:31 pm Post subject: |
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amit ji
Please look at SSLT.Looks like it is forming the similar pattern.
Hazari |
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