Chart Patterns

[athma_shakti]

Greetings to all
i am a newbie to traderji
Beginner in trading and planning to trade whenever i have time
so i am going through this site
have few questions and doubts to ask

look this link http://www.google.com/finance?q=NSE:NIFTY&ei=0pdEVNDfD8zRkAWc9oGYCg
its a google link for Nifty today (20 oct 2014) 2Min chart
till 11:30 am its forming cup and handle pattern. but why it didn't follow the uptrend?
Thanks

 

[S_basavraj]

Greetings to all
i am a newbie to traderji
Beginner in trading and planning to trade whenever i have time
so i am going through this site
have few questions and doubts to ask

look this link http://www.google.com/finance?q=NSE:NIFTY&ei=0pdEVNDfD8zRkAWc9oGYCg
its a google link for Nifty today (20 oct 2014) 2Min chart
till 11:30 am its forming cup and handle pattern. but why it didn't follow the uptrend?
Thanks

Sirji you have to increase the timeframe from 2mins to something higher timeframe.

 

[athma_shakti]

Nifty mins chart
RSI14 60:40 ratio
looks like small double top formed within 15 mins and breakdown

Traderji is a good place to learn lot of things :thumb:

 

[athma_shakti]

price movements and numbers pure emotions swinging, churned and cooked to display as patterns in monitor.

patterns resistance support is the "Key"
knowing this we can sense the emotions at any "point of time"

many seniors here and successful traders should be doing this subconsciously at one point from their "experience"

and that's wat i think an ultimate or holy grail strategy :thumb:

 

[athma_shakti]

Nifty rising forever, if there was no 2008 it should have crossed 10k by now, it should be crossing next year i think

 

[raul12]

Greetings to all
i am a newbie to traderji
Beginner in trading and planning to trade whenever i have time
so i am going through this site
have few questions and doubts to ask

look this link http://www.google.com/finance?q=NSE:NIFTY&ei=0pdEVNDfD8zRkAWc9oGYCg
its a google link for Nifty today (20 oct 2014) 2Min chart
till 11:30 am its forming cup and handle pattern. but why it didn't follow the uptrend?
Thanks

Firstly the impact of TF is very significant....since you are using only 2min TF hence it's impact would also be short lived.

Also in field of TA....we deal in PROBABILITIES NOT CERTAINTIES. hence it's NOT a sure thing that patterns will work ALWAYS.....exceptions cases are also there

-bhavya

 

[khurshedmanjra]

Good morning dear Raul

Which according to you is the best and most suitable technical analysis aspect for short to medium term positional trades ? Thank you.

 

[raul12]

Good morning dear Raul

Which according to you is the best and most suitable technical analysis aspect for short to medium term positional trades ? Thank you.

I'm assuming that by "technical analysis aspect" you wish to know to time frame.

Also if by short to medium term you mean a holding period ranging from few days to few months I'd say go with 4hour, daily and weekly timeframes. In these TFs the movements will be substantial and noise will be less => fewer whipsaws but also fewer trading opportunities.

However if you're a long term positional trader then focus on monthly/weekly charts.

-bhavya

 

[khurshedmanjra]

I'm assuming that by "technical analysis aspect" you wish to know to time frame.

Also if by short to medium term you mean a holding period ranging from few days to few months I'd say go with 4hour, daily and weekly timeframes. In these TFs the movements will be substantial and noise will be less => fewer whipsaws but also fewer trading opportunities.

However if you're a long term positional trader then focus on monthly/weekly charts.

-bhavya

Thank you Raul12

My holding period or time frame is few days to few months. What I wanted to know is which TA tool is best suited for this?...like, moving averages, bollinger bands, etc...if you could throw some light on it.

Regards. Khurshed.

 

[amitrandive]

I'm assuming that by "technical analysis aspect" you wish to know to time frame.

Also if by short to medium term you mean a holding period ranging from few days to few months I'd say go with 4hour, daily and weekly timeframes. In these TFs the movements will be substantial and noise will be less => fewer whipsaws but also fewer trading opportunities.

However if you're a long term positional trader then focus on monthly/weekly charts.

-bhavya

Thank you Raul12

My holding period or time frame is few days to few months. What I wanted to know is which TA tool is best suited for this?...like, moving averages, bollinger bands, etc...if you could throw some light on it.

Regards. Khurshed.

Great Stuff Raul !!!
:clapping::clapping::clapping:

@ KhursheJi

TA is a vast ocean, the deeper you go into it , the more complex it becomes.

I would suggest you to use simple support,resistance,trendlines on Monthly,Weekly and Daily charts as Raul has pointed out.

Simplicity is the best sophistication.

As an example you can refer this thread.

http://www.traderji.com/technical-a...high-probability-breakouts-59.html#post951375