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Trading Divergences... |
singh.ravee
Yellow Belt
Joined: 12 Aug 2010
Posts: 678
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Post: #106  Posted: Wed Feb 02, 2011 10:54 am Post subject: |
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thank u so much for your reply.
candlestick point noted.
regards
ravee
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casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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| Post: #107 Posted: Wed Feb 02, 2011 11:18 am Post subject: |
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| Ravi_S wrote: | Singh.ravee, i noticed the divergence yesterday and entered at 900, today came out at 921.5... As I said I'm not good in candlesticks... 
| singh.ravee wrote: | Ravi gm,
i m attaching 60min reliance chart.
there is a morning star as well as bullish divergence.
can we go long.
your valuable comments please.
regards
ravee |
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as u said u r not good in candle stick, but most of the time, in various threads, i have seen u bagging good trades regularly,
what else a trader can want?
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Ravi_S
Yellow Belt
Joined: 15 Jun 2009
Posts: 569
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| Post: #108 Posted: Wed Feb 02, 2011 12:40 pm Post subject: |
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Casper 
| casper wrote: | | Ravi_S wrote: | Singh.ravee, i noticed the divergence yesterday and entered at 900, today came out at 921.5... As I said I'm not good in candlesticks...
| singh.ravee wrote: | Ravi gm,
i m attaching 60min reliance chart.
there is a morning star as well as bullish divergence.
can we go long.
your valuable comments please.
regards
ravee |
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as u said u r not good in candle stick, but most of the time, in various threads, i have seen u bagging good trades regularly,
what else a trader can want? |
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Padkondu
White Belt
Joined: 23 Jan 2008
Posts: 120
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| Post: #109 Posted: Wed Feb 02, 2011 12:46 pm Post subject: yesbank divergnece |
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dear friends
in the following chart yes bank showed the habbit of obeying divergences. but in previous cases the price was much away from the 34 ema, a place where a reversal can be expected. but this time the divergence formed along the ema. hope this time is both long and short case. please check up and advice. i made profit two times using divergence. but this time i am doubtful about using divergence, rather follow the pattern.
regards
padkondu
| Description: |
| 60 min, rsi(5) divergence |
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42.58 KB |
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460 Time(s) |
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casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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| Post: #110 Posted: Wed Feb 02, 2011 1:14 pm Post subject: Re: yesbank divergnece |
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| Padkondu wrote: | dear friends
in the following chart yes bank showed the habbit of obeying divergences. but in previous cases the price was much away from the 34 ema, a place where a reversal can be expected. but this time the divergence formed along the ema. hope this time is both long and short case. please check up and advice. i made profit two times using divergence. but this time i am doubtful about using divergence, rather follow the pattern.
regards
padkondu |
whts ur rsi setting? my rsi is not showing any div. but we have strong resi in upper level as weekly piv and 89 ema is present here
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Padkondu
White Belt
Joined: 23 Jan 2008
Posts: 120
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| Post: #111 Posted: Wed Feb 02, 2011 1:43 pm Post subject: Re: yesbank divergnece |
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| casper wrote: | | Padkondu wrote: | dear friends
in the following chart yes bank showed the habbit of obeying divergences. but in previous cases the price was much away from the 34 ema, a place where a reversal can be expected. but this time the divergence formed along the ema. hope this time is both long and short case. please check up and advice. i made profit two times using divergence. but this time i am doubtful about using divergence, rather follow the pattern.
regards
padkondu |
whts ur rsi setting? my rsi is not showing any div. but we have strong resi in upper level as weekly piv and 89 ema is present here |
Hi casper!
HOW ARE YOU NOW?
look at the red lines (in the chart), at the top or the price pattern and negetive divergence of rsi 5period on 60 min chart. but the price pattern indicates upward pressure resisted by the weekly pivot. so it is a long above weekly pivot on closing basis and short below the break of previous swing low. am i right? please guide.
padkondu
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casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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| Post: #112 Posted: Wed Feb 02, 2011 2:31 pm Post subject: |
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| hi brother, u r almost right, just for long, wait until a close above 89 ema too, its also a strong level
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Padkondu
White Belt
Joined: 23 Jan 2008
Posts: 120
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| Post: #113 Posted: Wed Feb 02, 2011 2:52 pm Post subject: |
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| casper wrote: | | hi brother, u r almost right, just for long, wait until a close above 89 ema too, its also a strong level |
yes casper!
waiting for a strong close above 89 ema. i was doubtful about the divergence, and it was proved. but as a matter of fact looking for a long in bear rally is a sin.
tks
padkondu
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girishhu1
White Belt
Joined: 17 Aug 2009
Posts: 316
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| Post: #114 Posted: Wed Feb 02, 2011 7:29 pm Post subject: Re: yesbank divergnece |
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| Padkondu wrote: | dear friends
in the following chart yes bank showed the habbit of obeying divergences. but in previous cases the price was much away from the 34 ema, a place where a reversal can be expected. but this time the divergence formed along the ema. hope this time is both long and short case. please check up and advice. i made profit two times using divergence. but this time i am doubtful about using divergence, rather follow the pattern.
regards
padkondu |
dear padkondu,
from whatever little i understand from various threads, it should be long above resistance and short below support holds in bullish phase only.in bearish phase like at present, it should be exactly opposite.
regards,
girish
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chetan83
Brown Belt
Joined: 19 Feb 2010
Posts: 2036
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singh.ravee
Yellow Belt
Joined: 12 Aug 2010
Posts: 678
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| Post: #116 Posted: Wed Feb 02, 2011 11:45 pm Post subject: |
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chetan,
in eod chart tata chem has broken 340= a long term support. tomm session will tell is it a puncture below support or broken below support.
in the chart that u posted, the last candle is not a bottom since for a bottom a bearish candle should be followed by a bullish candle. one bullish divergence i have tried to drawn, which is already discounted.
the last candle has a new low for the move. i think playing on the short side will be a better option.
Ravi, kindly correct me, if i m making a mistake.
thanks and regards
ravee
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chetan83
Brown Belt
Joined: 19 Feb 2010
Posts: 2036
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| Post: #117 Posted: Thu Feb 03, 2011 11:29 am Post subject: TATA CHEMICAL - DARE TO TRADE |
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| singh.ravee wrote: | chetan,
in eod chart tata chem has broken 340= a long term support. tomm session will tell is it a puncture below support or broken below support.
in the chart that u posted, the last candle is not a bottom since for a bottom a bearish candle should be followed by a bullish candle. one bullish divergence i have tried to drawn, which is already discounted.
the last candle has a new low for the move. i think playing on the short side will be a better option.
Ravi, kindly correct me, if i m making a mistake.
thanks and regards
ravee |
Hi Ravee,
Mata ka naam leke, Now I am bullish here in Tata Chem at 338 for at least 342. Pls cross check the chart in 60 mins, + ive divergence now. Confirmed with casper too, Late to post chart, as had IT issue at my office, now resolved.
Regards,
Chetan.
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Last edited by chetan83 on Thu Feb 03, 2011 11:38 am; edited 1 time in total |
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singh.ravee
Yellow Belt
Joined: 12 Aug 2010
Posts: 678
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HPS AHUJA
White Belt
Joined: 02 Dec 2010
Posts: 1
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| Post: #119 Posted: Wed Feb 09, 2011 3:47 pm Post subject: |
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Ravi hello,
Is it a bullish divergence in bank nifty 60min.
thanks and regards
ravee
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Ravi_S
Yellow Belt
Joined: 15 Jun 2009
Posts: 569
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| Post: #120 Posted: Wed Feb 09, 2011 3:51 pm Post subject: |
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Yes it is... But as sherbaaz said, in a trending market beware....
| HPS AHUJA wrote: | Ravi hello,
Is it a bullish divergence in bank nifty 60min.
thanks and regards
ravee |
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