General Trading Chat

[niftygupshup]

Today NR7 day for

BN and BNF
NS and NF

 

[amitagg]

ST sir, posting a chart of tatamotors in reference to TD point reversal, here Tatamotors was in a downtrend. Then a big bullish engulfing candle which also forms a pivot low, followed by another bullish candle that takes out the highest close of preceding 4 candles (from mpl) i.e candle no.3.
my question is whether the setup is correct as per your description?

Should be since if u count from the top (around 519) there are 9 consecutive down bars with closes lower than previous 2nd candle close and then we have 9+14 =23 approx bars down to your big red candle marking end of the sequential or whatever. ??????.

 

[rip07]

Should be since if u count from the top (around 519) there are 9 consecutive down bars with closes lower than previous 2nd candle close and then we have 9+14 =23 approx bars down to your big red candle marking end of the sequential or whatever. ??????.

Dear Amit, can you please elaborate with chart your explanation.

Thanks
rip07

 

[wisp]

 

[vivektrader]

Wisp bhai, plenty of great quotes on pi startup screen.

 

[wisp]

Wisp bhai, plenty of great quotes on pi startup screen.

cant post them all no?

 

[Smart_trade]

ST sir, posting a chart of tatamotors in reference to TD point reversal, here Tatamotors was in a downtrend. Then a big bullish engulfing candle which also forms a pivot low, followed by another bullish candle that takes out the highest close of preceding 4 candles (from mpl) i.e candle no.3.
my question is whether the setup is correct as per your description?

Marking is correct. This reversal did not work well. In such cases market makes another ( possibly lower) bottom and then reverses from there.

Smart_trade

 

[wisp]

Marking is correct. This reversal did not work well. In such cases market makes another ( possibly lower) bottom and then reverses from there.

Smart_trade

ST Da, Good morning. you had said this was effective only when there has been some good move. In the TM chart, we have a big upmove followed by some gliding, is this supposed to work even in this chart?

 

[niftygupshup]

will be looking for 19111 and 8777
should hold above todays low

will be looking for 19111 and 8777
should stay above todays low

 

[Smart_trade]

ST Da, Good morning. you had said this was effective only when there has been some good move. In the TM chart, we have a big upmove followed by some gliding, is this supposed to work even in this chart?

It would have triggered the end of drifting down correction and upmove to resume. It did not give good reversal yesterday...is it reversing today ? The stops in such a case is a pivot low or the bar 0 low.

ST