Nifty Entry ,Exit ,Target levels with Median Line Charts

[timepass]

Kavima, we may be using different parameters for the stochs, because my chart shows that the stochs have turned down before reaching the OB zone, which is a negative sign. The RSI is also trending downwards. But since 15/21 MAs are providing the support, and ADX too is way above 20, I am cautiously positive. Let's see what tomorrow's first hour brings.

 

[Kavima]

@timepass

yes...positive bias with caution as sudden reversals are very fast and take us by surprise when everybody is looking out for a breakout ...

 

[SavantGarde]

Hi Kavima,

Need a big favour from you..... !!!

How do I get to snap the 'exact' points of say a Trend line to a candle on MT4

Thanks..!!!

SG

 

[Kavima]

Hi SG

I thk I'm the wrong person to ask as I'm not using MT...Though I have Amibroker ,I'm using Icharts only as can access it through the web...

And drawing lines on charts is second nature to me as I draw them day in and day out ( I'm an architect by profession and trader by passion :lol

Only disadvantage in using Icharts is the lines get skewed when we add margins to the chart everyday and I have to redraw the lines and also the lines reflect only in the time frame drawn, whereas in Amibroker this problem does not occur..Hoping to find some time to graduate to more professional software charting.

 

[Kavima]

price near support level of 4690 zone at LMLH.

5 min chart

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Entered long at 4700NF - SL 4675 NS target NS 4800 ++

 

[murthyavr]

Kavima,

You have hit the bull's eye so precisely! Congratulations!!

 

[Kavima]

price near support level of 4690 zone at LMLH.

5 min chart

[/URL] Uploaded with ImageShack.us[/IMG]

Entered long at 4700NF - SL 4675 NS target NS 4800 ++

EOD Update

Just see the support at LMLH , testing it a few times and the zoom to reach the resistance line above.Stochastics breakout from Oversold zone gave a clue for entering longs.My entry was at 4700 near breakout of the dynamic swing resistance line at the support zone.

[/URL] Uploaded with ImageShack.us[/IMG]

 

[4xpipcounter]

Kavima, I got a question.
As you know, I have struck up an interrelationship between your forks and my TL's. I have a way of determining when a TL is going to be broken, but until it is broken, it acts as containment. (I could go into detail concerning that, but would not want to in your thread, with all due respect.). As per your most recent conversation, you nailed the reversal perfectly.
I believe we are sharing the same views the circa area of 4875 contains before a strong reversal into the DOWN. This means my TL gets broken and the bottom of the fork (Pardon my terminology.) that so aptly contained today, will be broken.
Is there something underlying, or a fork of a greater degree that would determine the support on the fork gets taken out?
I was also wondering if you use your stochastics in conjunction with that determination.

Thanks for taking the time to read.

 

[Kavima]

6.01.2012 _Friday
60 min chart



Price gapped down to test the support zone at LMLH ,and zoomed upto the resistance line at 4780 zone.It has reversed from 50 SMA giving a positive sign for the upmove to continue.

Current Swing Targets at 4885 - 4900 zone where there is a confluence of

1.Major Red median line resistance and minor green median line resistance
2.Downsloping resistance trendline
3.61.8% R of previous major previous swing

 

[Rish]

Simply Amazing Level

EOD Update

Just see the support at LMLH , testing it a few times and the zoom to reach the resistance line above.Stochastics breakout from Oversold zone gave a clue for entering longs.My entry was at 4700 near breakout of the dynamic swing resistance line at the support zone.

[/URL] Uploaded with ImageShack.us[/IMG]