BollingerBands
- Thread starter columbus
- Start date
Hi Raju,
As far as Bollinger Bands go,I found 1min and 2 min are quite NOISY.Candles
will touch the bands quite often.But in initial stages they are OK.For getting
TREND ,5 min is OK.More than 5min the width of Bands in LARGE and targets
of often reached.I think anything between 3~6 is good.
If you are talking in general,then the set-up used on one day may not helpful
on other days.
As far as Bollinger Bands go,I found 1min and 2 min are quite NOISY.Candles
will touch the bands quite often.But in initial stages they are OK.For getting
TREND ,5 min is OK.More than 5min the width of Bands in LARGE and targets
of often reached.I think anything between 3~6 is good.
If you are talking in general,then the set-up used on one day may not helpful
on other days.
Last edited:
Columbus, you're point is valid, and proves your success in trading Nifty.
My specialty is forex, and I understand the cycles perfectly in forex, which is why I presented as an overture the 28.3 setup.
With the accuracy of your setup, it is my understanding you could almost use the BB's as a standalone.
I'm curious what your thoughts are concerning the longer term for Nifty. I applied my actual methodology to the pair, and could see while it was around 6200 that the fall was very predictable. The pullback it is undergoing today was also predictable. 5900 in containment, and a fall to circa 5088, maybe lower, is what I'm seeing.
Since I've been on this forum, I've noticed many following this market, which is why I decided to pull out my chart and follow along.
I can tell you are astute in your observations, which is why I was asking what you think.
My specialty is forex, and I understand the cycles perfectly in forex, which is why I presented as an overture the 28.3 setup.
With the accuracy of your setup, it is my understanding you could almost use the BB's as a standalone.
I'm curious what your thoughts are concerning the longer term for Nifty. I applied my actual methodology to the pair, and could see while it was around 6200 that the fall was very predictable. The pullback it is undergoing today was also predictable. 5900 in containment, and a fall to circa 5088, maybe lower, is what I'm seeing.
Since I've been on this forum, I've noticed many following this market, which is why I decided to pull out my chart and follow along.
I can tell you are astute in your observations, which is why I was asking what you think.
HI 4Xpipcounter,
In continuation to our previous chat , I am posting this data.
Dark bands pertain to BB(20,2) and Light Bands to BB(28,3).
As you can see I feel nifty follows BB(20,2) whereas may be FOREX follow
the other.
In continuation to our previous chat , I am posting this data.
Dark bands pertain to BB(20,2) and Light Bands to BB(28,3).
As you can see I feel nifty follows BB(20,2) whereas may be FOREX follow
the other.
http://img171.imageshack.us/i/40686293.png/
Hi Vinst. I thought about that, but my methodology does not pertain to this thread, and I wanted to be respectful of it.
There are more obviations that just what appears on the chart. Attached is the weekly, but the monthly even confirms this move all the more, but does not have enough data on my chart to properly show my point.
The monthly chart is showing an extreme stochastic divergent pattern. It has already crossed, and still shows plenty of momentum left to thrust a move south.
The 2 red TL's on the weekly have been drawn off the monthly, and the top TL has already been broken, which indicates the uptrend is over.
There is solid momentum and plenty of room for the move south on the weekly, and the top of the cloud is 5088. At that point the weekly stochastics should be tired, and ready to reverse. That point would be a decision point, as it could be a correction, only, that will last 1-4 weeks, or a complete reversal.
Looking at the monthly, it is showing over the next few months, there is potential for a drop to circa 4700.
After the sharp drop, the market would be due for a correction, and this is why I talked about 5900 earlier as being containment. That is the circa area of the bottom of both the 4-hour and daily clouds. I figure it will hold because the trend has reversed, in accordance with my observation above.
The observation above is my opinion, but I am highly confident, because my methodology has proven itself over the years. My methodology can be applied to any market, even though this is the first time I have looked at Nifty.
Hi Vinst. I thought about that, but my methodology does not pertain to this thread, and I wanted to be respectful of it.
There are more obviations that just what appears on the chart. Attached is the weekly, but the monthly even confirms this move all the more, but does not have enough data on my chart to properly show my point.
The monthly chart is showing an extreme stochastic divergent pattern. It has already crossed, and still shows plenty of momentum left to thrust a move south.
The 2 red TL's on the weekly have been drawn off the monthly, and the top TL has already been broken, which indicates the uptrend is over.
There is solid momentum and plenty of room for the move south on the weekly, and the top of the cloud is 5088. At that point the weekly stochastics should be tired, and ready to reverse. That point would be a decision point, as it could be a correction, only, that will last 1-4 weeks, or a complete reversal.
Looking at the monthly, it is showing over the next few months, there is potential for a drop to circa 4700.
After the sharp drop, the market would be due for a correction, and this is why I talked about 5900 earlier as being containment. That is the circa area of the bottom of both the 4-hour and daily clouds. I figure it will hold because the trend has reversed, in accordance with my observation above.
The observation above is my opinion, but I am highly confident, because my methodology has proven itself over the years. My methodology can be applied to any market, even though this is the first time I have looked at Nifty.
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