Nifty Entry ,Exit ,Target levels with Median Line Charts

[LivetoTrade]

@kavima,

I meant to ask if it was an indicator by itself.

Like you draw PitchForks, or Trendlines, or Fib levels, are the red lines any technical indicator or were they drawn manually.

Post 363 : EOD 5 min chart and projections for next day

a) Can you please tell me how you got 5 blue lines in that pitchfork instead of the regular 3 ?

b) What are the horizontal lines, how did you draw them, and if possible reasoning for them to be at that level.

 

[Kavima]

@LTT

It's not an indicator..All the lines are drawn manually ..
The parallel lines to the Blue PF are warning lines which are drawn when price moves out of the original PF drawn..
Can u chk out my other thread where I've given a brief explanation on warning lines...

 

[Kavima]

123 pattern breakdown in 5 min chart

 

[trade4joisar]

We have JP Associate & SAIL results today.

Looking @ daily, Seems results should not be good, Lets see.

 

[LivetoTrade]

123 pattern breakdown in 5 min chart

Is this what you are referring to ?

 

[Kavima]

@LTT

It didnt break out...still testing highs:annoyed:

i'll be happy if the red line breaks down

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

60 min chart intraday

@ TP
As explained in earlier post abt test and retest of UMLH to day's chart looks like a good setup.Let's see if it works out

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

This is how I would look at the 60 min chart for positional
Aggressive entry @ retest of UMLH
Normal entry as marked in chart

 

[timepass]

and the red line is placed at ?? 4848 ??

 

[Kavima]

In 5 min chart , the red line is broken .in 60 min chart 50 % is at 4838 but looks like price is is breaking down

 

[4xpipcounter]

Kavima, I don't know if you watch such things, but a possible 1-2-3 formation is happening. We had the peak (1), the recent dip (2). As long as the peak holds up, that is all we need for the formation to complete.
OTOH, it would be hard to see this being the impetus for the return to the LT DOWN that is about to take this market to the 4300's.

 

[Kavima]

Paul

Yes..there is a 123 formation in both 5 min and 60 min if recent high is not violated...
Price is still oscillating between supports and resistances and it makes me wonder when it decides to move in the direction it chooses to , it's going to be rather fierce
If 4800 is held,then still room for upmove.If 4780 breaks down , I would go with the greater fall probability.