New Intermed Uptrend!!

[Reji]

Robin,

Shall post a chart at a later time..........less reliance on trrendlines and more on pivots.......but trendlines are great when utilised in another way.

Shall post later!

Saint

Dear Saint,

Above lines are extract from one of your posts. When time permits, could you please brief why we should concentrate more on pivot than trendlines?

If you take the example of GMRINFRA, it is on the verge of daily breakout from the downtrendline and 20EMA, {seems to be a good chance to buy half}, but the prev. pivot high is around 158.

Thanks and Regards

Reji

 

[Saint]

Dear Saint,

Above lines are extract from one of your posts. When time permits, could you please brief why we should concentrate more on pivot than trendlines?

If you take the example of GMRINFRA, it is on the verge of daily breakout from the downtrendline, {seems to be a good chance to buy half}, but the prev. pivot high is around 158.

Thanks and Regards

Reji

Huff!Puff!Pant!Pant!......cannot explain about GMR all over again......suggest you read up last post and over the last 3 pages!

Nutshellivot high is 158,buy once it crosses the 159 area and stop below the pivot low.But because this type of pattern happens again and again,we are anticipating a move and getting in early with a tight stop and then adding over pivot high ie 158

Trendlines suggest that a particular trend may be over,may soon be over,.....pivots confirm it.

Happy Trading!
Saint

 

[Saint]

Suzlon is in daily-up too? The charts never did really show a daily close above the pivot high of 282. But this just might happen today.


Tatatea is a buy in hourly chart above 894 with SL: 868?

Stay clear of SUZLON....at a resistance point on the weekly charts......it either needs to go sideways here or give you a clear cut breakout....This would be a good example where you should NOT try anticipation,as the probability of this going down is as likely as a breakout.

If you are going to trade SUZLON,react to a move in either direction.

TATA TEA:If trading the 60min charts and 60min pivots.........yep,right!

All the best!
Saint

 

[Saint]

Entered PARSVANATH today at 201.3.......same reasons as before......stops a few rupees away,will take stops if hit....stop below the daily pivot low,as always planning to add once pivot highs are taken out and confirms a daily uptrend.

For all those who feel that the downtrend is not officially over,intermediates still in downtrend,daily has not confirmed an uptrend......you are not wrong.
Stay clear and then wait for confirmation.


Saint

 

[Reji]

Huff!Puff!Pant!Pant!......cannot explain about GMR all over again......suggest you read up last post and over the last 3 pages!

Nutshellivot high is 158,buy once it crosses the 159 area and stop below the pivot low.But because this type of pattern happens again and again,we are anticipating a move and getting in early with a tight stop and then adding over pivot high ie 158

Trendlines suggest that a particular trend may be over,may soon be over,.....pivots confirm it.

Happy Trading!
Saint

Dear Saint,

Sorry if you felt annoyed by my query. I should have read the previous posts before raising this query.

Thank you for your quick response.

Regards

Reji

 

[vvvv]

Entered PARSVANATH today at 201.3.......same reasons as before......stops a few rupees away,will take stops if hit....stop below the daily pivot low,as always planning to add once pivot highs are taken out and confirms a daily uptrend.

For all those who feel that the downtrend is not officially over,intermediates still in downtrend,daily has not confirmed an uptrend......you are not wrong.
Stay clear and then wait for confirmation.


Saint

failed to understand why u bought..have u entered anticipating a pattern breakout??
weekly chart is almost static,same for dailies.last pivot high is at 225.95 on 31/3/2008.pls corect me im wrong.

 

[Satyen]

Stay clear of SUZLON....at a resistance point on the weekly charts......it either needs to go sideways here or give you a clear cut breakout....This would be a good example where you should NOT try anticipation,as the probability of this going down is as likely as a breakout.

If you are going to trade SUZLON,react to a move in either direction.

TATA TEA:If trading the 60min charts and 60min pivots.........yep,right!

All the best!
Saint

Hi Saint ,Amit ... i have attched suzlon daily chart with my veiw please give comment

Love to be corrected

Regards
Satya

 

[jamit_05]

Parsvanath-Mystery.

failed to understand why u bought..have u entered anticipating a pattern breakout??
weekly chart is almost static,same for dailies.last pivot high is at 225.95 on 31/3/2008.pls corect me im wrong.

Moreover, VVVV, the hourly is on its way to continue from a descending triangle, which is a fairly strong bearish continuation pattern.

Saint, resolve this Parsvanath-Mystery. Pupils are watching with dilated pupils.

grateful as always.
Amit.

 

[jamit_05]

Let Suzlon be bygone

Hi Saint ,Amit ... i have attched suzlon daily chart with my veiw please give comment

Love to be corrected

Regards
Satya

No corrections are seeming. After a fresh look at the chart, which is the first thing I did in the morning, I understand what saint is saying.

The daily pivot high got broken on 7/4/08, but it was unable to take out the weekly resistance. Therefore, it is likely that if we make an entry in this chart our stops will be hit at least a few times. Moreover, if the overall sentiment reverses then this seeming dormant resistance will definitely cause a gap down or something.

So why even bother when you have better charts out there.

 

[jamit_05]

Similar story of AmtekAuto. The hourly is gearing up to give us an entry but... but... it seems the weekly resistance of 333 will stand its ground.

So I ask can it still be a candidate for intraday trend following till 330 ONLY?

Amit.