Nifty Futures Trading

[Sunil]

Which timeframe are you looking at,Sunil?And at 1:33pm,.....a Dbl Bottom??

Do you mean Double Top......if Dbl Bottom,and breaking "neck" means Bullish move.

And tough to assoc.the neck to the bottom

Neck is the term used in a H&S pattern,in the Double Top,it's peaks and troughs.

Saint

na sirji...
dbl bottom at ard 4262 FUt at 10:45 & 11:38...

actually, i didn't know what to call the highs of such dbl bottoms, so i refer it to as "neck", though i knew it's a term assoc with H&S...
thank u for correcting me.. so, it's "PEAKs" need to break for a dbl bottom, and "Troughs" need to break in case of dbl top...

it was becoz of this dbl bottom, which led me to go long

 

[Saint]

na sirji...
dbl bottom at ard 4262 FUt at 10:45 & 11:38...

actually, i didn't know what to call the highs of such dbl bottoms, so i refer it to as "neck", though i knew it's a term assoc with H&S...
thank u for correcting me.. so, it's "PEAKs" need to break for a dbl bottom, and "Troughs" need to break in case of dbl top...

it was becoz of this dbl bottom, which led me to go long

ah,gotcha now.......great going,Sunil.

We call it neck in a H&S,a trough in a DT.......would like to know what the classical guys call in a Double Bottom.

Anyway,for trading,none of this is required(definitions and academics).Just sharing some inane stuff.

Great going as always.

Saint

 

[learn2trade08]

booked half at 4322 since a big sell order at 4324...

exiting half at 4324...rest same stop...

 

[Sunil]

saint sir, since u r here..
in today's dbl bottom at 4262, what should be considered as PEAK - 4293 na?
(intraday chart)

 

[learn2trade08]

small hurdle at 4330 above which 4360(i must be dreaming?)

booked half at 4322 since a big sell order at 4324...

 

[Saint]

saint sir, since u r here..
in today's dbl bottom at 4262, what should be considered as PEAK - 4293 na?
(intraday chart)

Actually,Sunil.....I wouldn't classify this as a Double Bottom.A triangle formation at the bottom of a downtrend on the 5min charts and what we expect that triangle to do is to continue its preexisting trend.In short what was expected was a breakdown to new lows.

Instead we got ourselves a breakout from that pattern......which makes it doubly bullish.

Again to qualify,........looking at the 5min charts.

Saint

 

[Sunil]

these wedges & triangles i have not studied...

so, got my homework for weekend from sirji

 

[learn2trade08]

exited the rest at 4322 and placed stop buy order at 4333...

small hurdle at 4330 above which 4360(i must be dreaming?)

 

[Sunil]

now, times for today's pivot's test spot 4325-30

 

[Czar]

great trades learned2