My charts (and yours too........)
- Thread starter babukraman
- Start date
- Tags inv hns sffp wipro
Dear preethi,
It's for you real time...but not WW....will going to enter in it..in some days...I allready bought some @ 641
[/URL] Uploaded with ImageShack.us[/IMG]
It's for you real time...but not WW....will going to enter in it..in some days...I allready bought some @ 641
Vjay, you have acquainted me with a new term-- "Wolfe wave". I found a site that describes goes into detail concerning your methodology.
Always glad for a new learning experience.
[/URL] Uploaded with ImageShack.us[/IMG]
Always glad for a new learning experience.
The better the symmetry of wolfe wave's bars better would be possibility and better would be result and better would be reward. 14 - 24 is really a good difference bar, may be your target will come but that would not be because WW. Let me give you the reasons from charts attached below of Torrent Power -
1. Trendline which makes WW should always be converging instead of diverging. At least parallel but not diverging.
2. Trendline should be drawn from swing high's and swing low's. Not from congestion zones or area where multiple bottoms or tops has been made.
3. Bar symmetry is most important for a better WW. Little divergence accepted but not 14 - 24.
Am giving ongoing trade of chennai Petroleum and ABG Shipyard with WW. These are not exactly a live but yeah ongoing and chances for target and SL have 50 - 50. Now both have some deviance from symmetry but acceptable difference. This symmetry part is quite debatable like one will accept this much % of deviation but rules are rules and you have to follow it.
By the I am in into both. There are many without symmetry but this are having acceptable symmetry as per me so entered.
Sorry ABG's chart is bit old so kindly bear with that as I was having that already on my sys.
I hope I have given things in right direction and right spirit :thumb:
Will try to post more WW if encountered any.
Thanks Jagankris
Was wondering along the lines of :
Is NIFTY in a wait n watch phase watching for a break to a new high.. OR
Does it harbinger a reversal, given the S/R at aorund these levels.
Was wondering along the lines of :
Is NIFTY in a wait n watch phase watching for a break to a new high.. OR
Does it harbinger a reversal, given the S/R at aorund these levels.
Now a days I am not bothering too much about TA from a positional view.
Nifty direction - I don't try to predict as IMO there is no perfect way of doing so.I just try to follow my gut.
I have decided to position my self as day trader which IMO is the safest of day,swing,positional trading.It suits me and requires the least analysis skills.
TA for day trading is the area I am trying to focus and learn more.
Best regards,
JK
GBP/USD confluence of R
http://img256.imageshack.us/i/gbpusdy.png/
This might seem like I am looking in the rear view mirror after the fact, but I posted this on my blog, then was working with someone on the PM, and then finally made it here.
The circled candle shows what a strong confluence will do for an obviation for an entry. The candle made its way under the cloud, with the tenken and kijun following sharply on its heels to form a confluence of R. This produced a clear path to what I call me WS1 (1st weekly support). That was my TP. There was a spike on the other side, but the hourly candle closed above the line. If there is a close below the line, then we get the drop to the WS2 at 1.5319. As of this writing, there was a slight move upwards.
What should happen if 1.5319 is hit is that we should get a strong reversal from there. The pair is still due a correction because of the OS condition on the daily.
BTW, I know my methodology does not follow the norm on this thread, so the thread starter can feel free to let me know if I am out of place.
http://img256.imageshack.us/i/gbpusdy.png/
This might seem like I am looking in the rear view mirror after the fact, but I posted this on my blog, then was working with someone on the PM, and then finally made it here.
The circled candle shows what a strong confluence will do for an obviation for an entry. The candle made its way under the cloud, with the tenken and kijun following sharply on its heels to form a confluence of R. This produced a clear path to what I call me WS1 (1st weekly support). That was my TP. There was a spike on the other side, but the hourly candle closed above the line. If there is a close below the line, then we get the drop to the WS2 at 1.5319. As of this writing, there was a slight move upwards.
What should happen if 1.5319 is hit is that we should get a strong reversal from there. The pair is still due a correction because of the OS condition on the daily.
BTW, I know my methodology does not follow the norm on this thread, so the thread starter can feel free to let me know if I am out of place.
Eur/usd
http://img148.imageshack.us/i/audusdo.png/
This pair is giving mixed signals, but the attached 4-hour chart is giving what should be at least the intraday bias before something far more reaching happens.
There is a cluster event that is waiting the EUR/USD on this 4-hour chart at 1.3196. After a deep decline, the pair is trying to correct the bigger picture which is the downtrend. The cluster event consists of the bottom of the cloud, and the WR2. Projected into the future, the cloud is still very bearish. The hourly (not posted) is flying high above the cloud, which means the altitude is too high, and it needs to come DOWN a bit.
The part where the mixed signals come in is on the weekly and daily chart, which are indicating OS conditions, and ready to correct the big picture.
Notice the tenken and kijun. That should be containment on the DOWN. Topside cluster area should be containment on this leg. After the downside is complete, then a strong leg north should ensue.
Here's another point: Many people think forex, or general markets are confusing. This is an excellent case of being aware and knowing what is going on on all TF's. We still have a long ways to go on the longer term downside, as per the monthly. A strong correction is going to ensue as per the conditions on the daily and weekly. A correction within the correction is about to happen because of the described condition on the hourly and 4-hour.
http://img148.imageshack.us/i/audusdo.png/
This pair is giving mixed signals, but the attached 4-hour chart is giving what should be at least the intraday bias before something far more reaching happens.
There is a cluster event that is waiting the EUR/USD on this 4-hour chart at 1.3196. After a deep decline, the pair is trying to correct the bigger picture which is the downtrend. The cluster event consists of the bottom of the cloud, and the WR2. Projected into the future, the cloud is still very bearish. The hourly (not posted) is flying high above the cloud, which means the altitude is too high, and it needs to come DOWN a bit.
The part where the mixed signals come in is on the weekly and daily chart, which are indicating OS conditions, and ready to correct the big picture.
Notice the tenken and kijun. That should be containment on the DOWN. Topside cluster area should be containment on this leg. After the downside is complete, then a strong leg north should ensue.
Here's another point: Many people think forex, or general markets are confusing. This is an excellent case of being aware and knowing what is going on on all TF's. We still have a long ways to go on the longer term downside, as per the monthly. A strong correction is going to ensue as per the conditions on the daily and weekly. A correction within the correction is about to happen because of the described condition on the hourly and 4-hour.
Re: GBP/USD confluence of R
Hi 4xpipconter,
Your views on Forex with Ichimoku charts are always welcome. You're making it as an informative as well as an educative view. Now, Vijay, Preethi and Dhootankur are taking us into the field of harmonics. These are new avenues of learning for us as RnE is into EW. And there has been many other contributors like Kaly, (and many others I couldn't recall at this moment). I appreciate each and everyone of your participation. This is becoming a multi-faceted thread.
As I've mentioned in my very first post, I've understood (a.k.a learnt) TA from Saint's writing and from the members of various forums. Once I got my foothold, I thought of giving back something to the community and this thread is born. Now, I'm glad that quite a few like minded members have joined me to make this thread what it is today. I thank all of you for your valuable contributions. You're all doing self-less service to the beginners. I'm sure there will be cross-learning among us (certainly, I'm learning a lot from the others' views).
And most importantly, quite a few among those who learn from this thread might as well be inspired and motivated to share their knowledge with the others (if not today, at the least, in the near future).
Just my 2 cents.
Cheers!
Babu Kothandaraman
PS: Please include time, price and volume on the charts as some of the info. are cropped off from a few of members' charts.
Please include the name of the scrip on the content or the title of the message so that it will aid in the future "search"
Hi 4xpipconter,
Your views on Forex with Ichimoku charts are always welcome. You're making it as an informative as well as an educative view. Now, Vijay, Preethi and Dhootankur are taking us into the field of harmonics. These are new avenues of learning for us as RnE is into EW. And there has been many other contributors like Kaly, (and many others I couldn't recall at this moment). I appreciate each and everyone of your participation. This is becoming a multi-faceted thread.
As I've mentioned in my very first post, I've understood (a.k.a learnt) TA from Saint's writing and from the members of various forums. Once I got my foothold, I thought of giving back something to the community and this thread is born. Now, I'm glad that quite a few like minded members have joined me to make this thread what it is today. I thank all of you for your valuable contributions. You're all doing self-less service to the beginners. I'm sure there will be cross-learning among us (certainly, I'm learning a lot from the others' views).
And most importantly, quite a few among those who learn from this thread might as well be inspired and motivated to share their knowledge with the others (if not today, at the least, in the near future).
Just my 2 cents.
Cheers!
Babu Kothandaraman
PS: Please include time, price and volume on the charts as some of the info. are cropped off from a few of members' charts.
Please include the name of the scrip on the content or the title of the message so that it will aid in the future "search"
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