New Intermed Uptrend!!
- Thread starter Saint
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Dear all,
As we know tht the weekly of the NF is in downtrend, and daily is in uptrend... So for this daily to get into downtrend it has to breach 4670 right? And suppose, we move up from here and take of the high of 5271... then our "higher pivot low" for daily would be 4923 right?
And if this happenes and if the pivot of 5450 on weekly is taken out, then will the weelky have a pivot low of 4923? I want to know does such a short decline to 4923 qualify for a "higher pivot low" on weekly?
Please guide!
Regards
As we know tht the weekly of the NF is in downtrend, and daily is in uptrend... So for this daily to get into downtrend it has to breach 4670 right? And suppose, we move up from here and take of the high of 5271... then our "higher pivot low" for daily would be 4923 right?
And if this happenes and if the pivot of 5450 on weekly is taken out, then will the weelky have a pivot low of 4923? I want to know does such a short decline to 4923 qualify for a "higher pivot low" on weekly?
Please guide!
Regards
One stock that recently started out on a primary uptrend was Ranbaxy as discussed before.
Another one that triggered a change of trend to the Up is HERO HONDA....In at 804.Stops a bit below 745..........Entry if noticed before should have been above 785.A bit late in the entry.Will look to add over previous pivot highs as always.Rest all same.
And as always exit on a break of previous pivot lows or low of 2 candles back if vertical.
Saint
Another one that triggered a change of trend to the Up is HERO HONDA....In at 804.Stops a bit below 745..........Entry if noticed before should have been above 785.A bit late in the entry.Will look to add over previous pivot highs as always.Rest all same.
And as always exit on a break of previous pivot lows or low of 2 candles back if vertical.
Saint
Sorry.....not getting you here.... Current pivot low on Daily at 790 (yesterday) and before that pivot low around 730 area..... how come 745 is derived?
Secondly... y'day high was 814..so how come buy above 785 (unless taken on 60 min charts).
So it shd be buy above 814 with stop below 788. Am I seriously missing something. Kindly educate at your convenience.
Thanks aton for your time.
Secondly... y'day high was 814..so how come buy above 785 (unless taken on 60 min charts).
So it shd be buy above 814 with stop below 788. Am I seriously missing something. Kindly educate at your convenience.
Thanks aton for your time.
Nope,Rakesh.........take a look at HERO HONDA on the monthly,we have a downtrend and then a sideways move till last month.You are not wrong if you anticipated an uptrend and moved into HERO in September,but more or less sideways from then.
So we have a monthly in sideways trend,now take a look at the weekly chart.We are trying to catch the intermed uptrend in HERO HONDA........Both monthly and weekly triggerring an uptrend above previous pivot high on the weekly......ie 785.
Of course,we didn't catch it then..........therefore moving in as close to it as possible.Don't forget....This is an intermed uptrend trade.
Stops at 725 previous pivot low of the HERO HONDA weekly.....
Saint
So we have a monthly in sideways trend,now take a look at the weekly chart.We are trying to catch the intermed uptrend in HERO HONDA........Both monthly and weekly triggerring an uptrend above previous pivot high on the weekly......ie 785.
Of course,we didn't catch it then..........therefore moving in as close to it as possible.Don't forget....This is an intermed uptrend trade.
Stops at 725 previous pivot low of the HERO HONDA weekly.....
Saint
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