My charts (and yours too........)
- Thread starter babukraman
- Start date
- Tags inv hns sffp wipro
http://img337.imageshack.us/i/ivrcl4.png/ according to these patterns ivrcl is now a buying candidate
Hi Babu & R&E,
do you guys do intraday trading as well?
if yes, why not post chart patterns with 5/15/30 min time frames as well which will help all of those who trade intraday, to make some gains?
another query, how effective do you think are candle stick patterns such as morning/evening star, bearish/bullish harami, bearish/bullish engulfing on 5/15/30 min time frames?
Today morning, Educomp made a northern doji on 5 & 15 min timeframes at around 584. I had shorted it & kept a SL above the Doji high at 587. I was waiting for a candle to close below 580 but it didn't & as u can see, my SL was hit soon & Educomp went up to make a high of around 619.
Though my loss was not much, I was wondering whether northern doji pattern works on 5/15 min time frames?
do you guys do intraday trading as well?
if yes, why not post chart patterns with 5/15/30 min time frames as well which will help all of those who trade intraday, to make some gains?
another query, how effective do you think are candle stick patterns such as morning/evening star, bearish/bullish harami, bearish/bullish engulfing on 5/15/30 min time frames?
Today morning, Educomp made a northern doji on 5 & 15 min timeframes at around 584. I had shorted it & kept a SL above the Doji high at 587. I was waiting for a candle to close below 580 but it didn't & as u can see, my SL was hit soon & Educomp went up to make a high of around 619.
Though my loss was not much, I was wondering whether northern doji pattern works on 5/15 min time frames?
Last edited:
Hey, Anayash,
Nah i dont do intraday, thats ace-level i think. Im still trying to just 'Hold' my EOD positions 'omg-omg!!' is my fav uttrance during mkt hours [with all the special effects thrown in].
"candle stick patterns such as morning/evening star, bearish/bullish harami, bearish/bullish engulfing on 5/15/30 min time frames? "
I think the larger picture needs to be seen even for intraday swings [will post some charts illustrating that point. But i think the larger the frame, better the indication, and of-course 'where' it happned is paramount. But i got miles to go before intraday. But as such no ID trading experience here.
Do you keep pivot points in mind when doing intraday ?
Re Educomp, interesting cuz just today someone i know wanted to short it, this was in the morning, i told him it should touch 610 (conservative)/620 (optimistic) [cash] that would be a better shorting price, he went short at about 610, rode it up, then rode it down.. made about 10Rs on two lots.
The force comes from this :
strong candlestick setup on the three bottom days.
Day 1, low vol
Day 2, higher volume, conflict, prices couldnt be held down
Day 3, Smart ones went long here. [Not me]
The larger setup seems like a 5 wave downside, but stopping at 161 of the last to last major downside, and reversing sharp gave some indication of a major price reversal on a larger scale.
Why 620? watch the trendline. [stock made a high at 619]
Why 610? Its been a support in the past and the run up of three days may not be able to take it out.
(not resized due scale)
Trendline explanation : The second point on the trendline is not on the high of the red body.. why ? Because it wasnt a 'fought-out' price, that day markets registered the open / high price there on the first tick, the actual traded price was much much lower. The white candle before it, however was an acutally traded price. Its the trading and fighting that make supports and resistances.
** Last candle shows ~LTP, not the registered close price **
I continued my stupidity tho, was short on fortis, exited the short (why why why) and re-entered short at a slightly lower price [omg omg].
Nah i dont do intraday, thats ace-level i think. Im still trying to just 'Hold' my EOD positions 'omg-omg!!' is my fav uttrance during mkt hours [with all the special effects thrown in].
"candle stick patterns such as morning/evening star, bearish/bullish harami, bearish/bullish engulfing on 5/15/30 min time frames? "
I think the larger picture needs to be seen even for intraday swings [will post some charts illustrating that point. But i think the larger the frame, better the indication, and of-course 'where' it happned is paramount. But i got miles to go before intraday. But as such no ID trading experience here.
Do you keep pivot points in mind when doing intraday ?
Re Educomp, interesting cuz just today someone i know wanted to short it, this was in the morning, i told him it should touch 610 (conservative)/620 (optimistic) [cash] that would be a better shorting price, he went short at about 610, rode it up, then rode it down.. made about 10Rs on two lots.
The force comes from this :
strong candlestick setup on the three bottom days.
Day 1, low vol
Day 2, higher volume, conflict, prices couldnt be held down
Day 3, Smart ones went long here. [Not me]
The larger setup seems like a 5 wave downside, but stopping at 161 of the last to last major downside, and reversing sharp gave some indication of a major price reversal on a larger scale.
Why 620? watch the trendline. [stock made a high at 619]
Why 610? Its been a support in the past and the run up of three days may not be able to take it out.
(not resized due scale)
Trendline explanation : The second point on the trendline is not on the high of the red body.. why ? Because it wasnt a 'fought-out' price, that day markets registered the open / high price there on the first tick, the actual traded price was much much lower. The white candle before it, however was an acutally traded price. Its the trading and fighting that make supports and resistances.
** Last candle shows ~LTP, not the registered close price **
I continued my stupidity tho, was short on fortis, exited the short (why why why) and re-entered short at a slightly lower price [omg omg].
Last edited:
Hi Anayash,
Sorry to disappoint you! I don't do intraday. Though I prefer the 3 screen trading system to look at a chart. Any pattern for that matter, on any time frame is not a sure success! But I've observed some patterns (like ascending triangle b/o, trendline b/o, channel bounce between R and S, HnS, etc.,) on some of the Nifty stocks on intraday charts. Very simple things by all means but seems to be rewarding!
Cheers!
Babu Kothandaraman
Sorry to disappoint you! I don't do intraday. Though I prefer the 3 screen trading system to look at a chart. Any pattern for that matter, on any time frame is not a sure success! But I've observed some patterns (like ascending triangle b/o, trendline b/o, channel bounce between R and S, HnS, etc.,) on some of the Nifty stocks on intraday charts. Very simple things by all means but seems to be rewarding!
Cheers!
Babu Kothandaraman
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