Charts for the Day

[anil_s_trivedi]

Traders trading intraday, can have look at higher timeframe too with them, to have a multitime frame analysis with them
As seen from above chart, see how Nifty Spot got resisted at 50 SMA, and same weakness as seen from 5min chart, with bearish candle formations, and long tail candles,a sign of supply coming in at 5720-25 levels
In hourly 200 SMA is still rising, and with 50 SMA falling, is it already in consolidation phase,here moving averages are playing a role of catching prices, since prices got too much run away from moving averages
We will look at prominent support zone in area 5540-60 zone

 

[prst]

Traders trading intraday, can have look at higher timeframe too with them, to have a multitime frame analysis with them
As seen from above chart, see how Nifty Spot got resisted at 50 SMA, and same weakness as seen from 5min chart, with bearish candle formations, and long tail candles,a sign of supply coming in at 5720-25 levels
In hourly 200 SMA is still rising, and with 50 SMA falling, is it already in consolidation phase,here moving averages are playing a role of catching prices, since prices got too much run away from moving averages
We will look at prominent support zone in area 5540-60 zone

thanks bro.
seems like you use 34 and 50 EMA prominently for support.

 

[anil_s_trivedi]

thanks bro.
seems like you use 34 and 50 EMA prominently for support.

Hi prst,

Thanks..yes i look at moving average templates, to have a look at moving average setups..not exactly the crossovers, yes but setup like long term flattening and short term trying to move up...
What i observe is strong trends, correct only to 34 SMA,rather than 50 SMA and trend continuation goes on...as soon it tests higher degree MA it tells price rise is feeling fatigue and needed some cool down...on the same principle mean reversion is based on, where we try to see how much prices moved away from MA, and trend got over extended, and try a contra trade...
I use 50/200 sma;s on every timeframe, it reveals the underlying price strength/weakness...

You will not believed it, i started using TA in 2003, and in first year i focus only on MA and trendlines, support/resistances...after 2004 started to use/search every possible indicator/theories, wasted a lot of time...and i dont say its a bad experience, its a bull run so everything was clicking..real jolt happened in 2008, thanks i saved, as less trading during those days...now after that life came a full circle, and today i am in love with what i started with, i mean MA, trendlines,supp.Resis, and few patterns, pivots...rest all supplementary...so sometime i think why the hell, good books are not written around this only, rather than creating fancy indicators...barring 2/3 indicators i feel rest is all duplicates..one should have one momentum and other oscillator based..thats it...

'Bhav bhagwan che'

 

[anil_s_trivedi]

 

[Tharu]

Unable to see the last post..!!! Am i the one facing this probs.??

 

[timepass]

Unable to see the last post..!!! Am i the one facing this probs.??

Here, re-uploaded the image on imgur. Is it visible ?

 

[Tharu]

Here, re-uploaded the image on imgur. Is it visible ?

Yeah... Thanx...

 

[anil_s_trivedi]

Although i stopped trading intraday, but today i stepped in spotting good trade setup. As seen from chart, in opening i was bearish, but after 10 am closing and setup of MA's it seemed reverse gear gonna happen today. Market did reacted and upmove was a wild one.
Infact by trading on delivery basis, i observed my patience levels got improved, and it did allowed me to sit tight today. But really intraday trading is all about controlling nerves, and it seems i am not perfect for it.
Keeping fingers crossed for next time!

 

[mangup]

Hi Anil,

I guess red continuous line is hrly pivot & red dashed line is 5 HEMA, right?
If yes, what's the logic of making 5 HEMA horizontal line instead of curvy one.

 

[mangup]

Hi Anil,

Could u pl explain how to make a weekly & hourly pivot on ID chart in Metastock?