New Intermed Uptrend!!

[avinash]

Hi Saint,

I use candle sticks .....I was just wondering,since you are now doing reversal Patterns,if you can touch on some of the reversal patterns using candlesticks.

thx in adv,
regards

Avinash

 

[Saint]

Hi saint...my target from here 500 first in 4-6 weeks.
Cheers.

Thanx Amit........

 

[Saint]

Hi Saint,

I use candle sticks .....I was just wondering,since you are now doing reversal Patterns,if you can touch on some of the reversal patterns using candlesticks.

thx in adv,
regards

Avinash

Hi Avinash,

Good idea........was thinking about starting continuation patterns tomorrow.But will do some Jap Candlestick Reversal Patterns first.

Thanx!
Saint

 

[karthikmarar]

Hi Saint

Candle stick Reversal patterns ...Always found it confusing...nice names they have....Abadoned baby, three black crows etc etc.. Looking forward to your post to clear my fundas...

Meanwhile my screener picked the following....

Varun Shipping : Had been moving sideways for the last two weeks. Dropped more than 10% during the so-called correction. In the last two sessions it took out all the loss. Today it Broke out with huge volume. May be better to wait for the pullback to enter.

Canfina Homes.: was moving side ways form march. There was an attempted breakout in august. Could not cross the resistance at 53. Today surged with a huge volume to 57. Should face resistance at 57. Crossing 57 could see 70. Wait and watch

Crompton Greaves : looks poised for a breakout. But have to take out the resistance at 650. (by the way TRIX is also turning up .)

Or maybe one should still wait and see market is still confusing me..

If you get time please look up the above

Regards

Karthik

 

[Saint]

Hi Saint

Candle stick Reversal patterns ...Always found it confusing...nice names they have....Abadoned baby, three black crows etc etc.. Looking forward to your post to clear my fundas...

Meanwhile my screener picked the following....

Varun Shipping : Had been moving sideways for the last two weeks. Dropped more than 10% during the so-called correction. In the last two sessions it took out all the loss. Today it Broke out with huge volume. May be better to wait for the pullback to enter.

Canfina Homes.: was moving side ways form march. There was an attempted breakout in august. Could not cross the resistance at 53. Today surged with a huge volume to 57. Should face resistance at 57. Crossing 57 could see 70. Wait and watch

Crompton Greaves : looks poised for a breakout. But have to take out the resistance at 650. (by the way TRIX is also turning up .)

Or maybe one should still wait and see market is still confusing me..

If you get time please look up the above

Regards

Karthik

Hi Karthik,

All neat breakouts.......but as you said let's just wait n watch for now.Risk manage the present holds......let's stand aside and watch for now.

Saint

 

[Saint]

REVERSAL PATTERNS(CONT.)

8.RISING WEDGE

-This pattern usually a continuation pattern.
-happens in the middle of a downtrend.
-But when it happens after a strong uptrend,expect it to act as areversal pattern.(In an uptrend,we see falling wedges.In adowntrend,we see rising wedges.......when we get a rising wedge after an uptrend,it's bearish).
-Again,in wedges,volume decreases in the wedge,and increases on breakdown.

9.FALLING WEDGE

-Opposite to the above.
-usually happens in an uptrend.Acts as a continuation pattern.
-when it happens after a downtrend,acts as a reversal pattern.

Either way,Falling wedges are bullish......Rising Wedges are Bearish!

How do we make out if this pattern is a wedge or not?
-Connect the tops,then connect the bottoms.......in a Rising wedge,the top line has to be rising,and the line below would also be rising upwards.In a Falling wedge,the line connecting the peaks will be a downward slanting line.The line connecting the troughs would also be slanting downwards.

Happy Trading!!
Saint

 

[joy_verma]

hi
my pics HMT, PETRONETLNG,PTC AND ICICI BANK.
THANKS

 

[Saint]

hi
my pics HMT, PETRONETLNG,PTC AND ICICI BANK.
THANKS

Hi Joy,

What about those pics?

Saint

 

[joy_verma]

Hi saint
all in uptrend HMT has in fact broken out of flag pattern and could
go to 130 level

 

[Saint]

hi
my pics HMT, PETRONETLNG,PTC AND ICICI BANK.
THANKS

Hi saint
all in uptrend HMT has in fact broken out of flag pattern and could
go to 130 level

Hi Joy,

Would most appreciate if you could give a bit more data....as in are you planning to buy,or bought and planning to hold?Are you looking at short term charts or long term charts?

PTC:Still all over the place........forget about this one.May go up,may go down,most likely sideways,most definitely will be all over the place.....Better to look for something neater.

PETRONET LNG:Nice breakout in July,nice uptrend so far.If you are a trend player and want to get in,you could enter with a stop loss of 53.....and share size accordingly!

ICICI BK :If in,still a hold.Nice uptrend....looks good.If planning to get in,wait for a p/b.

HMT:Still within a rectangle........eod close over 95 is confirmation.Wait n watch for now!

Happy Trading!!
Saint