Some of my forecasts

[4xpipcounter]

Thank-you Irfan. I do love math, but really, I only consider myself a student of the charts. Just "one of the boys".
I had my 7th anniversary this month in trading. Even though this is now my only job I have, I still spend the greater part of my day studying the charts, and studying indicators and their functionality. I always want to keep an edge. I'm good at what I do, but I never want to take it for granted.

Just to prove I am not a genious (lol), I don't know what "Heera", "Koyle Kee Khan" means. I'm form the USA, so I am assuming it has something to do with the Indian culture.

Mr 4xpipcounter,

You are A Man among the Boys. Are you a mathemtician or a genious or both ?

Looks like my patience have paid off on this forum after reading your "Heera" posts in "Koyle kee khan".

I plan to read your complete thread in next few days.

Here is My Salam to you !

-Irfan

 

[sanjosedesi]

Heera ... Diamond in a coal mine.

 

[4xpipcounter]

E-mail query

I received the following query in an e-mail, " Do your Weekly S & R's change based on Timeframe.. YOur published S&R's (Nifty NSE 5761 5706 5672 5606 5573 -5517) slightly change in your hourly Nifty chart you have posted.(5683,5650,5617,5584,5550)."

My S&R's remain stable for that entire TF, whether they be 4-hour, daily, weekly, monthly, yearly, or the decade.
The noticeable difference in the charts that are published are 2 things: 1. The software and how it plots my S&R's; 2. There are also certain times where the week begins with a strong spike, and the software takes that into account after the fact.
The chart's look is what I may refer to at times as the "a" levels.

 

[4xpipcounter]

THanks SJD. Then there is plenty of room for us all to be diamonds. That way we'll cover up the coal and you'll never know it is there.

Heera ... Diamond in a coal mine.

 

[4xpipcounter]

Sbi

This market will be continuing lower after the upside objective at the weekly kijun at 2539 (Actual peak was 2528, but that is good enough.)The move lower should continue to the daily tenken at 2315, with a likelihood of the dip heading to 2275. It will be that circa area that should be treated as a decision point. If broken, then the move south would accelerate.

 

[4xpipcounter]

Eur/usd

As per request:

This pair is nearing what should be a downside containment level for the week, which should be the MS1 at 1.4320. If it does not hold, then we could see a drop down to 1.4255, and then things could go sideways, so the MS1 is preferable.

 

[4xpipcounter]

Gbp/usd

As per request:

This pair has much stronger implications to the south than its cousin, the EUR/USD. This pair is headed to at least the MR1 at 1.6199. The circa area is very solid S, but it could be broken. There is nothing much blocking the fall to that point, and it will be strong initial S.

 

[4xpipcounter]

Nifty

In the recent update, I mentioned to look for a move to the bottom of the cloud at 5474 being containment. The dip today was .5469.
I might be wrong as far as containing is concerned. There seems to be enough steam in the tank to take this pair to the MS2 at 5386, which is another confluence of events.

 

[4xpipcounter]

Usd/chf

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This pair is looking scary. It is all the earmarks of a tremendous splashdown to .7500, and even lower. That being said, that TL break needs to be correct, but there is tremendous pressure against it.
I'll go with my conventional outlook and say overhead obstacles get taken out, and we get the correction back to the WS1 at .8145 before another break south.

 

[4xpipcounter]

GBP/USD--ichimoku

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The most recent forecast I was talking about the drop this pair would have to 1.6199. I wanted to show the combination of the ichimoku cloud along with it forming a confluence with the stochastics.

First of all, the settings should be 5,5,5 and the parameters set at 85-15. The daily chart is showing the candle being at the top of the cloud with stochastics crossing over in OB territory. It is also showing a bearish indication because the tenken and kijun are at the bottom of the cloud.
A good portion of the time you can expect a move to at least the tenken, if not the kijun when the stochastics are OB. Using the top of the cloud as a confluence that is your strong indication of the move. The tenken is 1.6220, and by the time price action gets there, the tenken will be even with the bottom of the cloud which will also make a good confluence of support.

The 4-hour is showing a combination of support at the 1.6200 area. Because the move was not quite as powerful as anticipated, it is going to take a break through the cloud, and to the bottom, which could make for a bumpy ride if the pair makes it that far.

If price hits that cluster area of 1.6200, you could expect a strong reversal after arriving. This is because the support area on the daily is also solid, and we could expect only a wick spike on the other side of that. This is why it is important to know what is going on with more than just one TF.