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

[djsinha]

Re: Queries From students of Saint

Hello Everybody,

I am a long term investor, but i want to keep track of important long term trend reversals to ensure that i exit at the right time. I have invested in the indian stock market using some good mutual funds. I have been tracking the sensex's long term chart based on the saint's thread to ensure that the sensex continues to be in a long term untrend while i am invested. Also I had done a trendline on the sensex chart to ensure timely exit in case the trendline is broken.

Have a look at the chart attached. Clearly the long term trendline that i was following is broken. So i have booked some profits in my MF portfolio aleardy. But the last pivot low PL1 is still greater then the one before it (PL2) i.e. PL1 > PL2. So the uptrend is still not broken? There is no new pivot high that has been formed after PH1 according to me, so we wil need to wait and see if the new pivot high is lower then PH1 to confirm if the uptread is broken.

My dilemma is how do I confirm that a new pivot high is formed? I want to exit my remaining position if the pivot high is lower then PH1. Is there a way to know how much time it may take to form a new pivot high and how do we confirm that a pivot high is formed.

I have marked other Pivot High and Pivot Lows based on my understanding of the chart. You are welcome to correct the same.

All comments welcome.

Sachin

Hi Sachin,
First of all very good job done for attaching the chart of Sensex with Phs and PLs marked absolutely correctly.
You can confirm the occurence of new pivot high on seeing a couple of bars to the right side of the new pivot high. If the high of one particular candle is found to be higher than the candles to the left as well as to the right of that particular candle (as u have pointed the PHs and PLs in the attached chart)...then u can say a lower PH is formed.
Regarding time, no one can really say what will be the expected time required to form a new pivot high.

 

[uasish]

Re: Queries From students of Saint

As Saint said in Kolkata;for identifying a 'Pivot' & what i understood.......

Now plz actually put your palm on the moniter screen,see the middle finger,2 fingers at left of middle finger & 2 fingers on the right of middle finger denotes that the middle finger is the Pivot High,now place the plam upside down,you get the 'Pivot' Low.

 

[robin_malihan]

Re: Queries From students of Saint

As Saint said in Kolkata;for identifying a 'Pivot' & what i understood.......

Now plz actually put your palm on the moniter screen,see the middle finger,2 fingers at left of middle finger & 2 fingers on the right of middle finger denotes that the middle finger is the Pivot High,now place the plam upside down,you get the 'Pivot' Low.

This is what i read in teach a man to fish and try to use them most of the time.

Robin

 

[sachin_jain3]

Hello Saint,

I have posted my query in this thread.

http://www.traderji.com/trading-technicals/7747-queries-students-saint-4.html#post180145

Please find time to reply the same.

thanks,
Sachin

 

[myvineet]

saint is not posting these days ...hope everything is fine at his end...we are missing his intraday trade very much ..

 

[Satyen]

saint is not posting these days ...hope everything is fine at his end...we are missing his intraday trade very much ..

yes everybody missing him and waiting his new thread bsed on 60 min chart

regards
Satya

 

[rakeshluthra430]

yes everybody missing him and waiting his new thread bsed on 60 min chart

regards
Satya

If you observe, Saint is always missing before the markets starts falling...his absence can be taken as an indicator of an immenent fall in the markets..... someone shd work on the 'Saint-away' indicator as well

 

[deb99891]

If you observe, Saint is always missing before the markets starts falling...his absence can be taken as an indicator of an immenent fall in the markets..... someone shd work on the 'Saint-away' indicator as well

allways difficult to connect one ofour teachers as the pm box is allways full.

 

[Satyen]

If you observe, Saint is always missing before the markets starts falling...his absence can be taken as an indicator of an immenent fall in the markets..... someone shd work on the 'Saint-away' indicator as well

Regards
Satya

 

[rakeshluthra430]

allways difficult to connect one ofour teachers as the pm box is allways full.

Since he is also the moderator...cant his pm quota be increased....but I guess he already has his hands full...with so many questions on the forums... pms woulld be an added burden. He must already be short of time.