frien , i intentionally avoided 2 share my methods as it could spark controversies......
but aftr so much of attention & from ur demand , i would certainly show it.
AIM:2 show how 17875 is derived
APPARATUS:sensex qtrly , monthly , weekly & daily close for a year.
RULES:everything is based on closing levels only.
PROCEDURE:v take the recent xample of 17875 , which i call fusion point.
first v start /\.....identify the daily tops from the peak of 21200......
here v see the tops made on 27/2 >17826
2/5>17600
16/5>17435
nxt ,v go for weekly close tops....
8/2>17465
22/2>17349
29/2>17579
16/5>17435
now for the monthly one's.....
feb>17579......
apr>17287
& finally the qtrly ones....
feb08> 17579
...........v have seen fusion in arts & music.....now u can see how fusion works in TA.....
from the abv data.....it is seen that sensex visited 17500 to 17700 range @ least 8 to 10 times in last 6 months......so v average all the abv close to form a fusion point.....if u recall my last point was 17775.....i edited it 2 17875 just when sensex was reaching it.why , it sometimes happens that near a recent point.....a few notch away....ther's a strong another point , so 2 save from the possible whipsaw...v ignore the recent one....now if 17600 is the point derived , why 17875......every stop should have a filter....some alaysts keep in % terms.....in my method.....a distant moving average is taken....in this case.....the 200dma & 50dma were available......v take the average of the abv 2 average & add the DIFF of the 2 ......it came 17775 earlier , but as told earlier , another fusion point was available abv , so v increase our point 2 17875 from the earlier 17775.
nowher in the world u must have seen chartists tracking qtrly charts....though i may b wrong.. , but in the url below , i had warned about the impending fall based on this method in bold....
http://www.traderji.com/equities/16313-rumour-post-halaal-street-59.html#post172411
sounded so easy friend , but u surely will sratch ur hair off in the end.....as it took nearly 5 yrs for me 2 arrive @ conclusion........
thats why i termed it as complicated.....
it can b used for any asset traded in the world.
just like any other method , this system also has a drawback.......
it is late in identifying the trend....but along with it u get less entry exists , less whipsaws.
even @ this juncture , i will never say that i m a 100% chartist....
the man who invented gun in front of ancient swords must have felt that this is the ultimate weapon for mankind that can kill without time......but then came the automatic pistols , ak 47 & even in future v may see robos in the battlefield......
in a nutshell , every trading day is a new battleground for any chartist 2 learn something @ keep on improving his methods......those who o not agree this r GODS.....i will worship them....
hope 2 answered ur demand rightly friend , though i must have confusedu a lot......but it is non con-FUSION...
