Chart patterns

[AW10]

My pleasure guys to share this simple but powerful approach.

Vishal, on your comment below

AW10 - To interpret this, either red channel has to be broken or respected. If it were to be broken then prices need go above this, test the channel boundry and stay above that. In that condiition, we will be back to major white uptrending channel.

Vishal - so 4920 as it was tested couple of time last 4 trading sessions

If this channel is broken on the upside, then market needs to break the upper channel line and prove us thru retest that this break is successful.

As long as price remains in the channel, the short term trend is going down or sideway.

This will be lot more clear if we zoom onto 60m charts of last 8 or 10 days price action.

On friday we closed near strong (had 4 touch points in the past) primary TL. 21 day MA is around 4940 level. Nifty is at interesting point now.. Lets see what follows in next few days.

Happy Trading

 

[DR N K MISRA]

MY OWN TRAINGLES HE HE

Dear Vishal ,

Thanks for this chart . Yur triangles are very informative.

 

[bunny]

Dear Vishal ,

Thanks for this chart . Yur triangles are very informative.

:lol:
:rofl:

 

[vishalalluri]

dear vishal ,

thanks for this chart . Yur triangles are very informative.

hi dr ji

wanted to bring to ur notice that this chart was only for my own purpose and i was just playing with making my own line

i mentioned above the post "my own traingles"
to be frank i don kno why u thought that post to be informative
i was just playing around in that chart

bunny bhai control ho jao thoda

 

[vishalalluri]

LETS START SOMETHING NEW

HARMONIC PATTERNS

ABC PATTERN

JUST READ ABOUT IT IN A BOOK FOUND IT INTRESTING ANLYSED AND CALCULATED SOME THING IN REAL CHART AND FOUND RESULTS SUPPORTING SO WOULD LIKE TO POST ABOUT THIS PATTERN

The "ABC" patterns forecast key market turning points and profit targets for traders.

"ABC"patterns pinpoint important pivot levels with high and low prices and identify key tradingzones.

The key point in identifying a "ABC" is correctly finding the A, B, and C pivot points in a chart.
.

Once A, B, and C pivots are identified,

WE determine the TARGET "D".

This area is called "Potential Reversal Zone" (PRZ).

The "C" pivot in "ABC" patterns are determined by the Fibonacci
retracement of (38.2 to 61.8 percent) of AB swing.

The projection from "C" level is measured using fib-ratios of AB and
BC swings.

SO WHAT IT LOOKS LIKE IS

THE RATIO'S GIVEN IN THE DAIGRAM ARE IMPORTANT

I WOULD LIKE TO DISCUSS A CHART OF SBIN WITH THE PATTERN FORMATION

IN THE CHART GIVEN BELOOWWWW

WE SEE AND ABC PATTERN

A = 1973
B = 1644

WE IDENTIFY C IN THE PATTERN AND IF HAS RETRACED BEETWEEN
38.2 -61.8 % OF THE AB SWING

WE C IS B/W 38.2 TO 50 SO IT CONFIRMS AS C

C = 1809

NOW WHAT WE DO ................................................
CALCULATE THE RATIOS AND IDENTIFY A POINT D WHERE A TREND IS GONNA REVERSE

HOW DO WE DO

AB = 329
BC = 165
AC = 164

THE RATIOS ARE

AC= (0.382 TO.886 ) OF AB

AC/AB = 164/329=0.45 WHICH IS IN RANGE REQUIRED TO US

Next we calculate
BD = (1.232 TO 2.6 )BC
= (1.23 to 2.6) 165
range = 1.23* 165 to 2.6 * 165
= 198 TO 400

to find the point D where we could find a reversaL

IF BD = 198 THEN D = 1644-198 =1446 REVRSAL POSSIBLE

AS PER THE CHARTS WE SAW A REVERSAL AT 1536

VARIATION OF 100 POINTS :annoyed:

THE CRUX OF THE ISSUE IS IF WE ARE FINDING A ABC PATTERN

ONCE WE ARE FINDING THE POINT C

WE CAN GO SHORT AT AT BAR LOWER THAN 38.2% OF AB 1745 AND WAIT FOR TAGETS OF 1446 AT POINT D TO COVER


I TRIED MY BEST TOOK A LOT OF TIME BUT IT MADE SENSE TO ME SO WANTED TO SHARE

COMMENTS AND CORRECTIONS IF ANY PLEASE DO POST

 

[Sunny1]

Vishal ,
I Will read that book and than discuss.. The index of book seems to be interesting.

 

[vishalalluri]

deletedddddddddddddd

 

[vishalalluri]

 

[vishalalluri]

another of a chart felt like posting

 

[Sunny1]

Hey, I wanted you discuss tata steel . you are good at reading our mind