Bulls, Bears & The Lion

[findvikas]

I am not sure if you are willing to learn or just asking questions like always.. but I have a heart to explain so here is a perfect example that suits here...

see a chart of AUROPHARMA couple of days back... everything was in downtrend right?

see the chart... and look at the volume of 28th Jan (highest since July 09), it was a Red close bar... what would you do in this scenario? Ofcourse short going by the trend all the indicators are telling to short as well..... not even VSA captured this move as the bar spread was not very big and it was not an attempt to fall according to VSA...

dull money shorted and booked their longs in panic... what happened?
it took only 5 days it met the target and see the volume the day it met the target line... once again above 50DMA... dull money might again feel that ohhh this stock is a star and buy again.. what happen next a correction as rally is completed and exact 50% correction of the quick bull move.

This is called Wolfe Wave... so trend is NOT always your friend... its the dominant wave which is your friend and you need to identify which wave is the dominant one rather than going blindly by the trend... but one need a Lion's Heart to go long in such falling market.


Hope I was able to tell you the importance of Volume and its role in Wolfe Wave.

 

[findvikas]

Nothing happens because of speculation, news, events... News does not make market but its the market that makes the news.. Mostly all the moves are preplanned and visible in charts unless there is a very severe natural calamity like the recent haiti disaster.

 

[aditya14]

your comparing auropharma with gold
now 1 thing can be manipulated easily while the other cannot

 

[findvikas]

I quit... sorry I was trying to teach a stone how to speak. :rofl:

 

[adultvish]

I am not sure if you are willing to learn or just asking questions like always.. but I have a heart to explain so here is a perfect example that suits here...

see a chart of AUROPHARMA couple of days back... everything was in downtrend right?

see the chart... and look at the volume of 28th Jan (highest since July 09), it was a Red close bar... what would you do in this scenario? Ofcourse short going by the trend all the indicators are telling to short as well..... not even VSA captured this move as the bar spread was not very big and it was not an attempt to fall according to VSA...

dull money shorted and booked their longs in panic... what happened?
it took only 5 days it met the target and see the volume the day it met the target line... once again above 50DMA... dull money might again feel that ohhh this stock is a star and buy again.. what happen next a correction as rally is completed and exact 50% correction of the quick bull move.

This is called Wolfe Wave... so trend is NOT always your friend... its the dominant wave which is your friend and you need to identify which wave is the dominant one rather than going blindly by the trend... but one need a Lion's Heart to go long in such falling market.


Hope I was able to tell you the importance of Volume and its role in Wolfe Wave.

hi bro
pointed noted
one simple question
how you decided to pick point no 1 in the chart?
why it couldn't be the previous bar to be taken for point no. 1
thanks

 

[findvikas]

point one is adjusted and there is no official hard & fast rule about that. I personally usually take all the red candles. see what hapened on friday night in states where I said buy 4700put on Saturday's session...

URL DELETED


I picked at 95 and just sold that @ 135... what to do with profit... pick some RIL.. see ya in evening

 

[findvikas]

Public Apology to TraderJi

I was posting links to my blog, not with any intention to earn back links or anything of that sort but being lazy of copying paste the entire content here as well.

I have deleted all the links that I could remember, atleast from this thread. Please let me know if you find any and I will delete them as well. Thanks for reminding me Trader Ji.

 

[hiteshsjoshi]

Public Apology to TraderJi

I was posting links to my blog, not with any intention to earn back links or anything of that sort but being lazy of copying paste the entire content here as well.

I have deleted all the links that I could remember, atleast from this thread. Please let me know if you find any and I will delete them as well. Thanks for reminding me Trader Ji.

You have one in your signature bro.

 

[findvikas]

not anymore.. thanks

 

[findvikas]

a quick update on my trades..

GOLD Long
USD Short (USD/CHF)

Gold has confirmed the pattern in intraday but a daily move back inside the channel is very much needed ... USDCHF is in gain of 40pips and I put a SL of just 10pips in profit and riding the rest of them

7 lots of 4500PE taken at avg of 31.75 or approx 35 (including brokerage on both side)... expecting a target of 60-80 or SL @ 20