New Intermed Uptrend!!

[Saint]

Hmm...Interesting chart developing on the DOW.....Presently 365 pts down,a close here negates that breakout bar formed on the 12th of July,pushing Dow into that area of congestion again.

A breakout bar failure can lead to a further fall from here if it does not hold this area of congestion.Breaking 13250,that high of that breakout bar becomes a near term top ending this current intermed uptrend .....at least for the DOW!

Wonder if it can hold....

Shall post the chart tomorrow after updating.

All the best!
Saint

ps:Take stops if hit tomorrow.......please don't get into the hope and pray mode!

 

[sathyapriyasriram]

hello,
thanks for ur posting,i am new tothis forum,can u pls., tell me which method of technical analysis will help me to do intraday trading successfully,if time permits pls.,explain me about that method.thank u so much

 

[Saint]

hello,
thanks for ur posting,i am new tothis forum,can u pls., tell me which method of technical analysis will help me to do intraday trading successfully,if time permits pls.,explain me about that method.thank u so much

Hi Sathya,

A Warm welcome to you..............which method of ta,hmmm......why not instead make a first step in educating yourself.Just go to a thread in the Technical Analysis Section called"Teach a Man to.....",probably could pick up something from there.

As you go along,you will,by yourself ,figure out what you are most comfortable with,and choose accordingly.

Just a friendly piece of advice.........there is no one absolute right method,right path,a holy grail......although there IS a right path for YOU.As you go along,you will figure that one out by yourself.......For now,take that first step!

All the best!
Saint

 

[Satyen]

Hi
Saint we have still Trailing SL at point 1 or shud upgrade ????


Regards
Satya

 

[rajesh.sadhanala]

Hi
Saint we have still Trailing SL at point 1 or shud upgrade ????


Regards
Satya

I believe the Trailing SL point should be around 4500, a little bit upwards. Saint will confirm it.

Regards
Raj

 

[lvgandhi]

Hmm...Interesting chart developing on the DOW.....Presently 365 pts down,a close here negates that breakout bar formed on the 12th of July,pushing Dow into that area of congestion again.

A breakout bar failure can lead to a further fall from here if it does not hold this area of congestion.Breaking 13250,that high of that breakout bar becomes a near term top ending this current intermed uptrend .....at least for the DOW!

Wonder if it can hold....

Shall post the chart tomorrow after updating.

All the best!
Saint

ps:Take stops if hit tomorrow.......please don't get into the hope and pray mode!

Thanks for the post. i was also observing DOW. I am enclosing NIFTY chart showing Divergent rectangle or reverse traingle. Does this signfy Nifty will go upto 4800 or today is D-day

 

[alok]

Hey Saint... Good to see you back here with posts...

 

[renu daga]

hi
lv gandhi,,
ur point of observation is quite ,,high and quite broader way u are looking at teh chart..secondly by this trend line it means we are quite near to our tgt,,,with few days,,say,,
i dont agree,,,,nifty will take some ,,fall down befroe reaching new ,,highs,,
and since teh dow news of crash..

renu

 

[Saint]

Hi
Saint we have still Trailing SL at point 1 or shud upgrade ????


Regards
Satya

Hi Satya,

Correct if you are comfortable with it.This is what I meant by "discomfort" levels that day.The markets are dumping but you are no where near your pivot stop,so you hold.Your mind is counting the amount of "potential gains" lost.Basically,you leave quite a bit on the table in a bid to stay with the trend as long as possible.You are out only when trends confirm so.

A piece of advice:We stay with the trend as much as possible,but have a look at the charts...........as discussed before in the other thread,the trendlines get steeper and steeper,as excited greedy money gets in.If such a scenario occurs -----all time highs,multiple positive weeks in a row,divergences on many indicators,price still shooting to new highs,trendlines getting steeper,-----get out on the break of the green trendline and look to reenter later.

We should have got out at 4555 and below.......in this case,a gap down and therefore get out at the open.

If you are a hard core pivots player,you are now watching,and out totally at 4452.

All the best!
Saint

 

[shashank]

Saint,

Plz could you tell at which level this fall will stop?How much lower will this go??!!

Shashank