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

[4xpipcounter]

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I was wrong about the kijun containing price action. I will not be wrong about the move south, and I think it is still in agreeing with the original view posted by Babu. The next red line up is my WR2. I don't think it can be hit. There is loss of upside momentum and lots of downside pressure that will force the bears to eventually have its way with this market.

 

[vinst]

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I was wrong about the kijun containing price action. I will not be wrong about the move south, and I think it is still in agreeing with the original view posted by Babu. The next red line up is my WR2. I don't think it can be hit. There is loss of upside momentum and lots of downside pressure that will force the bears to eventually have its way with this market.

4xpip,

How do u say loss of momentum? All 4 lines of ichimoku are in proper order.

 

[4xpipcounter]

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Manish, I like your chart.

I'm agreeing with you whole-heartedly. My MS3 at 5239 is highlighted by the purple star. IMO, that should serve up as containment. I also think it will be no easy path to get back in the DOWN. I think there is going to be another consolidative correction even after 5239 is hit. The whole thing is a buildup to the next MT collapse.

thanks for starting this thread, just wanted to share my view on nifty, resistance at 5200

 

[4xpipcounter]

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Vinst, good question!

One thing to consider with regards to the loss of momentum is price action, so I circled the candles on the recent move south, and then the ones on the recent move north. Look at the quantity of candles it took to move south as opposed to north. The bears are winning the battle.

Recently, the tenken and kijun have been all over the place. Bringing its plight up to date, the tenken and kijun are divergent. Picture the kijun as pulling down on the price. If this was an uptrend, the 2 would be agreeing on direction.

4xpip,

How do u say loss of momentum? All 4 lines of ichimoku are in proper order.

 

[4xpipcounter]

Nice call, Vinst. It looks like the top got blown off. I was wrong in calling the reversal point.
Everything from the hourly and up is OB, so its time to look for a reversal point....again.

 

[4xpipcounter]

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I just noticed something I thought was kind of interesting. It is history, and that is, in part what our probabilities for trading are based on.

With the recent push up for gold, it set 2 records (not referring to price.):
1. Gold has never ranged this far from the tenken in its entire history--260 points.
2. This month marked the largest high-low spread in its history.

This may sound like nonsense, but these facts also show it is time to correct.

Any new high made this month will only add to both records.

 

[manish01]

Hero Honda Technical view

 

[GULSHAN1987]

i went thru the chart after u posted , im just a newbie so please correct all the mistakes i make.i dunt know how volatile this stockis but i suppose it has broken out of an ascending triangle and the target is about 300 rupess upwards. Seniors and veterans please shed light on the chart.
Gulshan

 

[GULSHAN1987]

i went thru the chart after u posted , im just a newbie so please correct all the mistakes i make.i dunt know how volatile this stockis but i suppose it has broken out of an ascending triangle and the target is about 300 rupess upwards. Seniors and veterans please shed light on the chart.
Gulshan

 

[babukraman]

20110819 Divergences