Nifty Entry ,Exit ,Target levels with Median Line Charts

[timepass]

Kavima, a request. Could you also display stochastics in your chart, even if you are not trading by them ? I am fascinated by your setting of 50,35 in the stochs. Is 50 the average period and 35 the %K period ? What setting do you use for %K slow ?

 

[Kavima]

hi timepass

Hi JD

It's Full stochastic oscillator 35,3,3 settings.

 

[darshanshukla]

Hi 4xPip,
Regards.
110% agreed with you and I myself sold 5400 CE when it hit Gap Up opening (@ 104) as per Ichimoku cloud pierce as I expected sideways/Consolidation movement around this level for long so -P give us best earning during this time
I'm Hardcore follower of TA since my birth in Stock market.
If we go to trader's Psychology and the biggest rule of market which I remember everyday when I start my trading terminal is "Market is '0' sum Game" it tells us whole truth behind trading.
Reminding this rule there is Big money and Short Money for trading purpose and the small trader (not telling money wise, small means who do not follow any kind of analysis and trading just for earning they are small........)
always trapped to give money to who do some what sensible trading,
Anyways still agreed with you and believe in TA always dear,
Happy trading ahead,
Dr.Darshan

Darshanshukla, IMO, it is a very common misnomer to focus on the big money or small money moving the markets.
Let me direct your attention Kavima's post in #139. With the strong spike, it was still contained by the median on the larger fork. He is also calling for consolidative movement at the state area. Big money and small money has nothing to do with solid technical views on market movement.

Personally, I called for a move to the 4600's when Nifty was in the 6000's. AS we got closer, I honed the number to 4666, and possibly 4592. The dip was 4720, so I missed it by a slight amount. My question is, "What did Gates and Buffet's money have to do with the drop? It was already foretold by solid TA's."

As I muse here at Kavima's thread, I can still adhere to one technical principle. Solid technical analysis produces more or less the same result. Kavima uses pitchforks. I use ichimoku. Someone else might use Elliot Wave, and etc, etc. Who has all the money, and who is putting it where and how is more hype than anything.

LOL, now that I shared an opinion, I'll go back to being a silent viewer.

 

[Kavima]

31.10.2011_Monday

Drawn a minor ascending Pitchfork ( pivots matching OB / OS in stoch)to assess the downside supports
for the consolidation area.Price attempting to close the gap can retrace till the point where it meets the
ascending trendline from previous two minor swing highs.5200-5250 zone is probable support area.

 

[Kavima]

New post in my other thread
http://www.traderji.com/advanced-trading-strategies/59403-trading-median-lines-andrews-pitchfork-4.html#post601311

 

[Kavima]

01.11.2011_Tuesday

5200 -5250 zone is support area.
If 5200 fails, we have a another support trendline at 5150 levels.

 

[rkgoyal_98]

Dear Kavima

When do consider the upmove has ended and new down move is started
is it failure of 5150 support.
Regards

 

[Kavima]

2.11.2011_Wednesday

@rkgoyal, breaking 5200 levels will be a trigger for another move down.So longs are out and Selling on a retracement wave after price crossing 5200 - 5150 will be my preference.Target would be 5050 zone.

 

[Buster83]

Kavima, nice work. I just checked on AmiB for NFuture and MT4 for NSpot, both have a bull engulf on H4. Scenario 1 and 3 (bullish) on your chart has more probability, imho.

 

[Kavima]

3.11.2011_Thursday

Price has been moving exactly on the path planned in the past one week.Refer yesterday's chart.. Today price hit 5200 zone, we got the stoch divergence and price is moving upwards towards 5320 resistance.
Let's watch how it further unfolds...