Nifty Futures Trading

[aca_trader]

Re: Time to Stick my Neck Out ,Nifty 7300

Ashish,

Any pattern that puts money in your pocket is a great pattern.......but traditionally,an inverse head and shoulder MUST happen after a downtrend in that time frame.

Same pattern after an uptrend.....and it doesn't qualify.....but again,not that you won't make money off it either way.

Saint

Very right Saint. Earlier I also used to think that Inverse H&S should not form as a continuation pattern. On the forum, had posted a lengthy piece about it replying to Dusant but then I read "Edward & Magee" once again and they agree that an Inverse H&S may form during a bullish rally as continuation pattern but it can not be relied upon to objectively decide the target.

Regards,
--Ashish

 

[kkseal]

Re: Time to Stick my Neck Out ,Nifty 7300

4861 spot impt

 

[Saint]

Re: Time to Stick my Neck Out ,Nifty 7300

Very right Saint. Earlier I also used to think that Inverse H&S should not form as a continuation pattern. On the forum, had posted a lengthy piece about it replying to Dusant but the read "Edward & Magee" once again and they agree that an Inverse H&S may form during a bullish rally as continuation pattern but it can not be relied upon to objectively decide the target.

Regards,
--Ashish

New info for me........thanks!

Always learning something new from this forum.

Saint

 

[Saint]

Re: Time to Stick my Neck Out ,Nifty 7300

4861 spot impt

Kalyan,

Do you trade full time?

Think there is great value in your posts......you really ought to post more often for the benefit of us all.

Saint

 

[debdeeps]

Re: Time to Stick my Neck Out ,Nifty 7300

Finally the upmove started!! Great analysis Ashish..Congrats.

 

[aca_trader]

Re: Time to Stick my Neck Out ,Nifty 7300

Long 4880, SL 4860.

 

[aca_trader]

Re: Time to Stick my Neck Out ,Nifty 7300

Finally the upmove started!! Great analysis Ashish..Congrats.

Thanks deb! But no great analysis on my part. If you would have followed Saint, you would have been up by more than 30 points when my Entry triggered.

Regards,
--Ashish

 

[kkseal]

Re: Time to Stick my Neck Out ,Nifty 7300

Looks highly overbght now - better to book?

 

[aca_trader]

Re: Time to Stick my Neck Out ,Nifty 7300

Looks highly overbght now - better to book?

At the hourly resistence line of consolidation.

 

[aca_trader]

Re: Time to Stick my Neck Out ,Nifty 7300

Pennant breakout on 60-min; let's see if it hold, matures and materializes or fizzles out as the H&S breakdown of 2 days ago.