BollingerBands

Did Bollinger Bands help you?

  • Yes

    Votes: 239 77.9%

  • No

    Votes: 68 22.1%
  • Total voters
    307
columbus

columbus

Well-Known Member
#1,432
#1,432
Last edited:
H

hills_5000

Well-Known Member
#1,433
#1,433
Nicely brought out.... makes me wonder that since our economy is in good shape , only an extraneous factor can bring this about .. viz ...drought / war / unexpected result in unexpected mid term polls / etc .... and it has been my observation as a trader the last 2 yrs that when the charts say something ... no matter how rosy the situation ... something happens globaly / locally to bring the charts to their logical conclusion (In the chart u ve posted , i forgot to mention it could be something global too which makes us react ).

So .. though a bull at heart seems like i will have to learn being a bear after all....

just my two bit... :)

4xpipcounter said:
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.
Click to expand...
 
4

4xpipcounter

Well-Known Member
#1,434
#1,434
I respect anyone that wants to use the fundamentals in trading, but personally, I have no regard for fundamental information. A look at our economy would bear that out. Ours has been tanking for the last 2 years (from the USA), and the stock market has been rising the last 2 years. The economy was still quite robust during the time the stock market descended from the all-time high at 13,198 to circa 6,500.

I think you, Columbus, and I all agree that Nifty is in for a bounce back up. I'll still hold to my original forecast of 5900 being the containment. I didn't plot the BB's on my Nifty chart, but I am wondering if the 5900 area is the mean on the 4-hour chart.


hills_5000 said:
Nicely brought out.... makes me wonder that since our economy is in good shape , only an extraneous factor can bring this about .. viz ...drought / war / unexpected result in unexpected mid term polls / etc .... and it has been my observation as a trader the last 2 yrs that when the charts say something ... no matter how rosy the situation ... something happens globaly / locally to bring the charts to their logical conclusion (In the chart u ve posted , i forgot to mention it could be something global too which makes us react ).

So .. though a bull at heart seems like i will have to learn being a bear after all....

just my two bit... :)
Click to expand...
 
H

hills_5000

Well-Known Member
#1,435
#1,435
Beg to differ here .... but since 2008 how has our economy being tanking ... since we ve had better GDP numbers .....i assume u are comparing it to the US from ur statement. And the stock market descended from 21.** to 8.5 ..so maybe the figures need a recheck ?

Pls do clarify ...

4xpipcounter said:
I respect anyone that wants to use the fundamentals in trading, but personally, I have no regard for fundamental information. A look at our economy would bear that out. Ours has been tanking for the last 2 years (from the USA), and the stock market has been rising the last 2 years. The economy was still quite robust during the time the stock market descended from the all-time high at 13,198 to circa 6,500.

I think you, Columbus, and I all agree that Nifty is in for a bounce back up. I'll still hold to my original forecast of 5900 being the containment. I didn't plot the BB's on my Nifty chart, but I am wondering if the 5900 area is the mean on the 4-hour chart.
Click to expand...
 
4

4xpipcounter

Well-Known Member
#1,436
#1,436
I'm from the USA, and the stock market I referred to was the US stock market (DJIA).
Unemployment for the country has gone way up, inflation is up, and our national debt has gone through the roof.
I got the charts handy to prove the numbers on the DJIA.
I hope that added some clarity.


hills_5000 said:
Beg to differ here .... but since 2008 how has our economy being tanking ... since we ve had better GDP numbers .....i assume u are comparing it to the US from ur statement. And the stock market descended from 21.** to 8.5 ..so maybe the figures need a recheck ?

Pls do clarify ...
Click to expand...
 
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