My daytrading

[Raghavacc]

This is not a double top , a double top occurs in an extensive upmove on high volumes , what we might call a oversold condition , here a lot of people look to sell thats y a double top occurs , in this case its a retracement on weakness.

Noted your point sir.

Do note that we are all novice traders and we do not understand any hi fi terms/funda :lol:.Hence we use very vague language. We do not understand if some one says "Father in law".So we call him "father of his wife".

Hope you got my point.

 

[abhilashg]

Hello everbody.

I'm a forex trader and planning to start with Indian stocks and futures trading.

Can i know where i can get the futures , commodites ,stocks charts to do technical analysis as we get it on metatrader for forex .

Regards.

 

[Raghavacc]

 

[Raghavacc]

Thats how our way of TA works.

Big. gap and then a red bar cuts the consolidation down.All the signs of rain. We are short.

A wind comes and takes away the cloud.Loss of 15 Points .our SAR is at high of the day +3

It ends up in sunshine.Our SAR caught at 5595 and it goes all the way till 5650.Net + 40 Points .

Does it make any difference to us whether it rains or sunshines?

Thats what I conveyed in post no.873.

 

[Raghavacc]

Hello everbody.

I'm a forex trader and planning to start with Indian stocks and futures trading.

Can i know where i can get the futures , commodites ,stocks charts to do technical analysis as we get it on metatrader for forex .

Regards.

Sorry,

Not a right place to ask such questions. I have menationed this several times earlier.

Dear moderators,

Going forward ,I will be gratefull if such irrelevant questions can be deleted as soon as noticed from the thread .They just add to the data!!!Nothing more.

 

[Raghavacc]

The beauty of price action was apparent today with a massive resistance coverting in to a massive support.i.e:5570-5580

Above is yestardays chart where I have drawn a line stating as massive resistance.

Just see todays chart and look at the point of reversal .Bulls strength for the day was visible once that point proved as support.

 

[Raghavacc]

5Min chart
IMG]http://i54.tinypic.com/4ljzo0.jpg[/IMG]

30 Min chart

60 Min chart

 

[Raghavacc]

Above is a 60 Min chart by which we can gauge the strength of the parties by looking at at lasrge bars with volume

Bar A is a bearish Engulf .It could not produce the results as expected by Bhalloos. In next 2 says we had bar B which closed just near the close of Bar "A".This bar also could not produce the result.

Very next day we had bar C which closed below the close of Bar B which was an opportunity for the bhalloos to tame the bulls.It has a moderate move. However by the end of y'day it could not close convincigly below the established support with volume. At the same time y'days action at the established support did not signal any strength of bulls.

Today bulls had other thought .They took out resistance by gapping up and then pulled the price up when the price dropped to the same important zone.
Bar D also closed exactly at the open of bar C .However the massive consolidation,hidden divergence,OB>5bars in 5,30 amd 60 later shows that bulls have dominanated of late.

Are going to see a gap up on monday?

 

[Raghavacc]

Regards
Raghav

Above is a chart of 29-Jul-2010

Below is todays chart.As per our analysis the divergence has not yet finished its job if not Bhalloos have any other ideas..Lets wait till monday.

 

[Raghavacc]

Ok.Now by end of this week, kids have learnt when to expect big movements in the market.