iCharts Discussions

[Amigo]

Thanks RVG for ur suggestion.

Regards

[nsk1371]

nifty-1m.5tf new usp 5325

[enroute]

spec sir/jai...plz confirm the pivot of nifty-1m in 15tf....a lot of confusion at shout box on this today..
according to me its 5427-dsp

regards,
enroute

[smartcancerian]

@ Enroute..DSP was shifted to 5278..at 11.30 am bar of 7th march when rsi5 became OB..& new low @ 5201.60 was made after that..today nf opened beyond dsp..so uptrend starts..in 15tf..valid bullish rejection has nt happened yet..so now usp is 5201.60..wait for 34 rejection..may be on monday..a chance may arise..

[kiranlegend]

[Jaii]

KL,

09/05/'11 .............

I just saw that chart......! Those are not contra trades......reason is very simple on 09/05/'11 15TF was in Downtrend & 5 TF was in Uptrend, so i've played both. I was using this 5TF for my intra trades earlier!( Golden days!). Usually wat i do is, -say 15 s in dwn & 5 s up then i'l wait 15Tf RSI5 to get OB zone & will trade 5TF Rej. When i trade intra i fix my trget to 30 to 40 points only.Slowly i moved to swing & started using this 5TF for TSL. If you are intrested in intra trades you can try this....... !

Jai

[kiranr]

Does the recovery high/low after a rejection need a CC above/below the previous high/low to qualify as one?

[smartcancerian]

@ kiranr----NO

[kiranlegend]

[chetan83]

[ashis]

Dear Jai sir / Speculator sir,

I aggree with enroute's view.
I found invallied rejection on 7th.
Please find an attachment and guide us. So confussion will be clear.

Regards
Ashis

[enroute]

jai sir,
plz reply for the query that what is the pivot of nifty-1m according to ssps in 15tf?according to me its 5427-dsp...
regards
enroute.

[Jaii]

Enroute sir,

I would like to copy paste from this documents!

kanna-

Spec,
Why cant we consider 5884.55 as Downswing pivot, which is on 11.45 candle on 8th April. it is very close to 34 ema in 15min charts. (Missed 34 ema by just 4 pts). I thought that is a pivot and if we consider that as a pivot , now we have broken downswing and we are in upswing with pivot at 5753. pls confirm when u are free

Kanna,

Sorry for interfere......usually in this kind of confusion( price closer to 34ema but not touching) i use his RSI 5 -OB OS signals.For ex I attach 2 recent charts. Both reliance & Educomp didnt touch 34 ema, but RSI 5 OB & price made new Low, so we may consider that recent high as a valid Pivot.It just my observation.........me too waiting for Spec sir's answer. Tks!

Regards,
Jai

Speculator
Kanna,

When in doubt, consult Dr RSI(5).

I do not like to bring RSI(5) into discussion as it confuses the newbies in most cases.

When we get a proper touch of the EMA, then without any ambiguity we can say that it was a clear rejection.

When we come close, but not touch the ema, then it's very "iffy". One cannot say with certainity whether it was a true rejection or not. In those cases check the RSI(5). If the rejection failed to touch the 34 ema (but came close to it), but came from a RSI OB/OS mode, then it can be qualified as a valid rejection. Otherwise, ignore it.

In the current case, which we are discussing neither did we touch the 34 ema nor did we reject from a RSI(5) OB on 15-min. So i would not call that a valid rejection.

Now you can decide!
(According to me 5278 was a valid Pivot )

Jai

[sherbaaz]

There is an issue of how data is shown on chart. TT charts are not continuous charts in futures Where as icharts charts are continuous charts. Due to this the calculation differ marginally. But it creates big trouble at critical place like the one we are discussing.

This is the prime reason why TT is not showing RSI ( such things happened in TT either it shows 34 EMA rejection which has actually not happened or rsi ob/os which has actually not happened) ob where as I think i icharts its 70.63, which is OB.

Now the Q is which one to take. Technically icharts continuous chart is right. As its more logical as per my understanding. Due to candles/data being shown on continuous basis. So there will be no break.

I think as per icharts charts we are in up trend.

Regards,

[enroute]

jai,

thanx a lot 4 the xplanation. n plz dont cal me sir...

rgds,
enroute