Teach A Man To Fish And.........

[riser3]

its here as uploaded

http://www.4shared.com/file/35182569/f5252717/Saint.html

 

[Saint]

Shall do,Asish......soon!

Saint

 

[Saint]

Hi Saint,

Hope you are doing fine....

I have some doubts about trading the pivots or trading the trendlines. Pls see the attached weekly chart of nifty futures - near month, for last 5 years. I have drawn a trendline which has upheld itself for the last 5 years. This time too, the market fall, after breaking pivot lows, has now come up to the trend line.

My confusion is : Can a bounce up from this trend line qualify as a start of uptrend, or should we wait for higher pivot highs to be formed? In other words, Can we trade this trend line or should we wait?

Basically, in other words, what is more important? Trendlines or pivots?

Also, since I consider this trendline to be a very basic trendline and which has upheld the test of time, is it more important than the shorter term trendlines.

Hope I have made myself clear.

Regards,
SKG

SKG,

Shall answer shortly......

All the best!
Saint

 

[Saint]

Below the chart of the DOW from early 1990's..........break in previous pivot low on monthly charts as of Jan 2008.Whether this is going to be a deep cut,or a grinding consolidation or a bit of both,the attitude now is to Sell the Rally.

As far as Dow is concerned,it has loitered into Bear terrain......unless huge volumes negate the last few bars,more downside is expected.

Saint

 

[Saint]

FTSE Charts as attached.....Same here.FTSE in Bear Terrain as well.

Saint

 

[Saint]

Same story with the DAX......Bear Terrain,and Sell the Rally Mode!

Saint

 

[Saint]

Hang Seng in Iffy territory.....not in Bear Terrain as yet,but the next rally must take out new highs.Lower pivot highs formed will see lower lows.

Saint

 

[Saint]

BRAZIL is still in Bull Territory........it's still Buy the Declines mode in the Bovespa.

Saint

 

[Saint]

SENSEX still in Bull Territory......an intermediate downtrend in progress.Like Brazil,however it looks right now,the time just has not come for Selling the Rallies......instead,it is still Buy the Declines Mode as far as the Sensex is concerned.

Saint

 

[Saint]

NIFTY same as above......Primary Bull intact going through an intermed dntrend.

Saint