Pattern recognition ?

[Czar]

so in short you both are suggesting contradictory position

Tape : I agree as I see Dow making a similar move....

& here's your earlier post & I am your witness Spot on dude...

czar, atleast a test of the red line has very high probabilities, follow through is a bit difficult.

 

[Czar]

Aren't these 2 looking familiar ? so should we expect the same to happen in the 2nd ?

 

[mk4r8]

hi tape

on 7 nov post post no 236

pls explane what u see in icici chart ' last 3 days bar formation ' ?

with relcap chart i c engulf formation which indicate its fall by 180-190 poimts .. which it did

 

[the tape]

Aren't these 2 looking familiar ? so should we expect the same to happen in the 2nd ?

Hey man !!

see in this nasdaq chart i have posted now (zoomed), notice the sizes of average bars (white)(trend bars) and notice the size of the yellow bullish candle.

Most importantly notice the sizes of following candles...... the yellow candle is succesfully planted. also notice the formations in red. the size of that bullish engulfing over bears suggests reversal and also see the following candles.

If u look at the nifty chart then. most of the candles sizes are same because i believe that nifty on daily basis has no movement of it at all. its like a derivative of nasdaq and asian markets on EOD.( a lot of ppl will argue on that) For catching nifty, i think we shd atleast look at weekly or above.

And pls also give a second look at dj's 1 month chart. exactly the same as nasdaq. specially all those major formations.

And yes i think nifty shd follow the daily trend of nasdaq.

 

[mk4r8]

thanks tape

 

[Czar]

Hey man !!

see in this nasdaq chart i have posted now (zoomed), notice the sizes of average bars (white)(trend bars) and notice the size of the yellow bullish candle.

Most importantly notice the sizes of following candles...... the yellow candle is succesfully planted. also notice the formations in red. the size of that bullish engulfing over bears suggests reversal and also see the following candles.

If u look at the nifty chart then. most of the candles sizes are same because i believe that nifty on daily basis has no movement of it at all. its like a derivative of nasdaq and asian markets on EOD.( a lot of ppl will argue on that) For catching nifty, i think we shd atleast look at weekly or above.

And pls also give a second look at dj's 1 month chart. exactly the same as nasdaq. specially all those major formations.

And yes i think nifty shd follow the daily trend of nasdaq.

Ahh Just my thought though few people are ready to bash me if I say that again....

Thanks again for the explanation, appreciate the time...

Just posted Dow monthly on NF II thread, FYI: http://www.traderji.com/derivatives...trading-part-2-positional-525.html#post254409

 

[learn2trade08]

dear czar,
can u please take a look at this chart...since the volumes right before the formation of the left shoulder is high can we consider it as valid...
thanks

 

[the tape]

succesfull Bear plantation !

 

[the tape]

 

[mk4r8]

hi,tape
thank you
a short note on chart explaneing what u c can help new TA learner like me