My charts (and yours too........)

[timepass]

How about this chart...this seems some bullish pattern (Inv. HnS) in making..

:lol: the joys of TA
One thing common to both charts is :
The downtrending trendline in the first chart
which becomes the neckline in the second chart.

If/When nifty touches it, it would be interesting.
From here it could side-trend into it (kinda bearish) or
Ram into it (kinda bullish)

The price pattern may look like Inverse H&S, but do the volumes conform to it ?? There doesn't seem to be a major drop in the volume in the "head" part.

 

[vinst]

Hi,

Posting weekly pitchfork on sensex. The brown PF had been in place for many weeks now but sensex keeps approaching the upper PF line. Now it is going to touch it for the 3rd time. If not successful to overcome, the downside is shown by the yellow Dashed line. x-axis is number of trading days.

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regards
vin

 

[dhootankur]

Hi,

Posting weekly pitchfork on sensex. The brown PF had been in place for many weeks now but sensex keeps approaching the upper PF line. Now it is going to touch it for the 3rd time. If not successful to overcome, the downside is shown by the yellow Dashed line. x-axis is number of trading days.

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regards
vin

Can you give some dope on Pitchfork how to? Or any pointer from where can I get exhaustive material on it like name of book, or website related to it.

Thanks

 

[Romeo and Elliott]

The price pattern may look like Inverse H&S, but do the volumes conform to it ?? There doesn't seem to be a major drop in the volume in the "head" part.

I agree, did notice the volumes shown on yr chart, they make a strong argument.

As for volumes, For indexes i use "Traded Value" as my indicator of interest as opposed to "Traded volume", largely cuz theres reasonable price variation in NIFTY stocks.

Traded value on the first two rise days was in the order of 67xx cr. each. Above average. Indicates interest.

An instance of a down-wedge is happening on GAIL IMO as i type. Also demonstrates "side-trending into a point of contact with the trendline" its a lovely and fairly accurate point to take positions.
[Gail : so far so good, else confirmation is to come today EOD, i entered early, if it closes below, it would confirm a good short as per my strategy <- disclaimer ]

lets see what NIFTY does.

Will prolly post another of my "Just how accurate are trendlines" post later today

 

[Romeo and Elliott]

misred sequence

 

[Romeo and Elliott]

Just how accurate are trendlines :

 

[vinst]

Can you give some dope on Pitchfork how to? Or any pointer from where can I get exhaustive material on it like name of book, or website related to it.

Thanks

http://www.median-line-study.com/index.html

 

[babukraman]

,,,,,,,,,,,

As for volumes, For indexes i use "Traded Value" as my indicator of interest as opposed to "Traded volume", largely cuz theres reasonable price variation in NIFTY stocks.

.................

Nice point of discussion as RnE has pointed out here.

For the indices, the weightage differs with the market capitalisation of the respective constituents. Their volume also differs on the moods of the market. So, does the volume of the index as a whole reflect the true value of the transactions (in case of the index) or does the traded value give the much better picture?

Just a discussion; nobody is right or wrong here; pls. discuss!

Cheers!
Babu Kothandaraman

 

[babukraman]

20110628 PUNJLLOYD Weekly

 

[dhootankur]

Voltas in making of symmetrical triangle, watch for BO on either side.