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

[Saint]

Hello Saint,

Now my question:

Pivot highs are broken in two ways.

Case 1: by making a previous higher pivot low.
Case 2: by making a previous double bottom or a lower pivot low.

Therefore, do I enter at the break of a pivot high irrespective of the above two cases?

My argument really is, Case 1 sounds more solid but then again we want to cathc trends. So there is chance that due to addition of such a filter we might lose out on few such trends. As a result we might be in a situation where we'll end up with a comparatively longer streak of losses.

Please comment.

Amit.

Hi Amit,

If we get a higher pivot low and then a break above previous pivot highs,much yummier..........But either way,we are waiting for that pivot high to crack before entry.....even if we get a lower pivot low and then a blast off move above previous pivot highs.

There is,basically,no change in that downtrend till that previous pivot high is taken out.

So,as far as pivot method is concerned,we wait till pivot highs are taken out........but do have a look whether a breakout from a falling wedge or a descending triangle failure gets you into the trade even before pivots crack.

Saint

 

[Saint]

Tapaswi, right mostly saint is very calm, but he can get angry at times, i remember a thread where saint had a very heated discussion with another member, i don't remember if that member is still in or out . may be this same thread, but long back

hahahaha .......are we having discussions now about my temper or lack of it?About saintliness or the lack of it?

As said before,a human like any other with the full package of weaknesses......no different from anyone here!


Now let's get back to trading talk...

Saint

 

[Saint]

Great stuff Amit,

Thanks for explaining it with clear points marked. It cleared my doubt about Pivot with more clarity.

Hello Saint, based on your teaching today I have tried to Fish 'Kaushalya Infrastructure', would keep a watch on how it goes. My entry was at 37 and stoploss at 28.

Thanks once again.

Kind regards,
shrineha

Hi Shrineha,

I wouldn't trade it because of the low volumes.........if I were planning an entry,I would be looking to enter only on a break of 44.5(43.4 being the previous pivot high)with a stop at 33.

Saint

 

[Saint]

Dear Saint,
I am a new member and also a newbie. I hope by joining your forum will improve my knowledge and skill in stock trading. Thank you for welcoming my membership.
Best regards
Wong Benwae

A warm welcome to the forum,Benwae........wishing you all the best!

Saint

 

[Saint]

what a words of wisdom!!!...write it & paste it on my pc table

no words are enough to thanx u boss...

regards

Most welcome,Vineet.....and thank you for the kind words.

Saint

 

[Saint]

Dear Saint,

I refer to the above post by Shrineha. Considering the "low volume"of this scrip, I presume you would avoid this one. Kaushalya being in the downtrend for some time, had it been better, if he could wait till the previous weekly pivot high of 40.85 to be taken out to enter?


Regards

Reji

P.S. Congrats.You joined the "5000"Club

Ah,Reji ,you've already answered the question......

Sorry for the ignorant question....Which 5000 club?

All the best!
Saint

 

[Prabhjeet]

Ah,Reji ,you've already answered the question......

Sorry for the ignorant question....Which 5000 club?

All the best!
Saint

Saint he's congratulting you for 5000 posts, dont know what size the cake should be for accomodating 5000 candles, coz. each of your post was just like a candle lightened.

Thanks for great work

 

[myvineet]

Most welcome,Vineet.....and thank you for the kind words.

Saint

saint plz.make some space in ur pm ....

regards

 

[Saint]

saint plz.make some space in ur pm ....

regards

Done!!


Saint

 

[Tapaswi.S]

Dear Saint,
This is SENSEX Daily chart. does this qualify a falling wedge?

regards,
Tapaswi.S