iCharts Discussions

[Sanchit]

Thank you Jai Bhai for the chart and the clarification..
Helps a lot !!

Happy Trading!!

[ConMan]

It would be wonderful if you can post a 15min and 30min chart

[suresh.punjani]

jaibhai

Atleast ap check to karo. i have shown chart to CP n talked with spec sir also

[Jai2000]

Suresh,

ok. Again.....4165 is the pivot for both 15& 30Tf. Pls explain how you arrive @ 4128, and one more thing is, in downtrend how 30Tf pivot is Lower than 15Tf pivot?????? Previous crude 30Tf pivot was 5097,nearly after 1 1/2 months it create new pivot@4674, then 4302 & now it's 4165. No change in my view......

Regards,
Jai

[suresh.punjani]

jai
ok fine can u upload 30 min chart here. it will make clear to me

[Speculator]

rsi,

Jai is correct. 4165 is the pivot.

When we make new recovery lows, find the highest point betwen the prior lows and the current lows and that will be your downswing pivot.

In case of crude, the prior low was 23 June 19: 30 candle. The recent low was 27th June 19:15 lows. The highest point between them is 24 June 10:45 candle, who's high is the pivot.

[suresh.punjani]

jai,

because of RSI(5) overbaught so pivot 4165 in 30min tf also otherwise it has not touched 34ema

[ConMan]

The pivot of Crude in USD was 92.4 which was broken immediately after the mkt closed (11.30 pm)...

So in USD terms Crude is in uptrend. So I think tomorrow we might break 4165 too

[Jai2000]

Suresh ,

hello really i cant get you what u want to say . I use his RSI5 very srtictly in all market more than 1 year. Still you are misunderstanding something, apart from RSI5 OB, 4128 would not be a pivot, even it's above 34ema. As spec sir mentiond, the highest point would be a pivot, so it's 4165. I wish to end this topic ,spec sir clearly explaind........

Regards,
Jai

[ConMan]

Hello Suresh/Spec/Jai

We have atlast broken the pivot ...

So now will the SL be 4116 or 4062?

[Jai2000]

QGM,

Yes the upswing pivot is 4062.I'm waiting for rejection to enter

Regards,
Jai

[suresh.punjani]

CP

The lowest point

[Sanchit]

Hello bhailog,
Seems I started quite a conversation yesterday!!
Anyways, hope every newbie like me learned from it..
Here's an update on the crude Pivots in the 15 and 30 mins TFs(Using 34 EMA)

and in the 60 Mins TF (Using 13 EMA)

hope my understanding is correct this time..

Comments and feedback are welcome as always..



Regards,
Sanchit

[Jai2000]

Sanchit,

Yes you are correct, Spec sir advised 13 ema for 60Tf.watch 24/06/'11 - 11hr candle in 60 TF. 13 ema is 4164.79 & the candle high is 4165. We got new low below 4067, so 4165 becomes 60Tf Pivot too based on 13ema.

Jai

[Sanchit]

Jai bhai,

What about RSI (5)?

shouldn't it be OB as well for a swing pivot?