Ichimoku Kinko Hyo trading system...!
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Gold Update:
Had covered half @1680 the other day and the remaining half today @1675.....
Looking for action around 1690 region (converging point of Horizontal Line @1690 and the Orange coloured Downsloping Line) for further action..... If it breaks the low of 1666, then would like to enter Shorts only on Retest of that Support turned Resistance
Regards
Had covered half @1680 the other day and the remaining half today @1675.....
Looking for action around 1690 region (converging point of Horizontal Line @1690 and the Orange coloured Downsloping Line) for further action..... If it breaks the low of 1666, then would like to enter Shorts only on Retest of that Support turned Resistance
Regards
Gold Update:
Looking to take away some profits and a possible retest of the Downsloping Trendline and Double Bottom formation over there.... It has also formed a Flag sort of structure whose target is around 1672-73...... If it pans out as expected would like to go Long thereafter....
Looking to take away some profits and a possible retest of the Downsloping Trendline and Double Bottom formation over there.... It has also formed a Flag sort of structure whose target is around 1672-73...... If it pans out as expected would like to go Long thereafter....
S&P CNX Nifty - Monthly - FollowUp Post
As was said earlier, Nifty likes to retrace back to Kijun Sen and then tries to touch the cloud........ It performed the first part of retracing back to KS pretty well and then fell from the highs of 5400 to break 24month lows of 4640......
If history wants to repeat itself, then 4300 looks well on the cards...... Even yesterday, inspite of such a huge Gap Up opening, there was no euphoria in the Bulls Camp and no panic in the Bears Camp.... Infact Bears looked much stronger yesterday....
As was said earlier, Nifty likes to retrace back to Kijun Sen and then tries to touch the cloud........ It performed the first part of retracing back to KS pretty well and then fell from the highs of 5400 to break 24month lows of 4640......
If history wants to repeat itself, then 4300 looks well on the cards...... Even yesterday, inspite of such a huge Gap Up opening, there was no euphoria in the Bulls Camp and no panic in the Bears Camp.... Infact Bears looked much stronger yesterday....
S&P CNX Nifty - Monthly - FollowUp Post
As was said earlier, Nifty likes to retrace back to Kijun Sen and then tries to touch the cloud........ It performed the first part of retracing back to KS pretty well and then fell from the highs of 5400 to break 24month lows of 4640......
If history wants to repeat itself, then 4300 looks well on the cards...... Even yesterday, inspite of such a huge Gap Up opening, there was no euphoria in the Bulls Camp and no panic in the Bears Camp.... Infact Bears looked much stronger yesterday....
As was said earlier, Nifty likes to retrace back to Kijun Sen and then tries to touch the cloud........ It performed the first part of retracing back to KS pretty well and then fell from the highs of 5400 to break 24month lows of 4640......
If history wants to repeat itself, then 4300 looks well on the cards...... Even yesterday, inspite of such a huge Gap Up opening, there was no euphoria in the Bulls Camp and no panic in the Bears Camp.... Infact Bears looked much stronger yesterday....
Thanks for the chart. From this monthly chart, it looks like the Secular Bull is still in place. The cloud gave good support for the deep fall in 2008 so should expect the same now, but now the cloud is very thin, for 2012 that should be the concern.
Its interesting to watch it unfold, although its not our trading TFs even by a long shot
, do keep posting the follow up chartsThanks
Edit: I will consider the Span B value from 2010, when it is flat, as a major support, if it comes to that the CS should find good support there.
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On the daily Kinjun is flat forming the strong R at 5015, a flat kinjun normally indicates that the market is highly consolidative ,dead, sideways you can also look at the Bollinger bands volatility ! The area That I would look for is first 5015 (Kinjun Strong R)- then 5059 which is the bottom of the daily cloud Span-B ! If these areas are broken then we headed higher ! Momentum is getting overbought ! doesn't look like that is is going to hold north ! The break of the trend line that I have drawn will indicate a move south towards the recent good support areas 4750 if broken with a candle body I think 4418 comes into the view !
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