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

[Saint]

Hi Saint,

I was looking into the chart of COMPUAGE.It has recently formed a Wide range bar. Is it advisable to trade in it now? The volume is not very impresive.

Maddy

Vols not good.......but yes on the WRB.If vols were better,then it's a buy over 113.

Saint

 

[Saint]

Hello SAINT,

I am quite new to stock market and the forum too...yesterday fast_rizwaan told me about (Teach a man Fish). Till now I read up to 15 pages and I am a fan of yours. In one sentence I can say "YOU ARE ROCKING MAN"

I think you are the most Unselfish and knowledgeous person. The way you are explaining with example is really amazing. Thanks again for all the help and support you have been giving to newbies like me.

Regards,
bABIDASH

Thank you for your kind words,Abidash


Saint

 

[Saint]

Hi Saint,

I am new to technical analysis and I am trying to learn it reading this great thread of yours. I an looking for your insight into the script that I bought few days back.

If I read the charts correctly both weekly and daily charts were in uptrend on 20th May. I took my position aftert the previous pivot high (309) was taken out on daily charts. I bought at 320 thought it was late. I calculated Stop-loss as 267.1-1.1= 266.

It started to move downwards since 21st.

I would really be thankful if you can answer my following queries:

1) rights and wrongs that I did in the process of buying this script and

2) how about entering immediately after a higher pivot low has formed instead of waiting for previous pivot high to be taken out?

Thank-You,
Anil

Hi Anil,

Welcome to Traderji!

The right entry point in CAIRN would have been Apr 10th and all the rest were adds..........let us presume,as is your case,that you were trying to get into Cairn,you would have to buy the rally once previous pivot highs on the daily was taken out,which happened on 20th......your stop would be the low of 15th ie 267.Since this move is getting vertical,your stop would be the low of the candle 2 bars from the high ie 287.........So far you are yet to be stopped.......

Ques 1:Nothing wrong in the entry except that in an ideal situation,your entry would have actually been in April 2nd week........and one more indicator next time,don't buy when you notice the trendlines getting steeper,the gradient getting steeper,more volumes coming in after an uptrend.......buying at this point is a calculated risk,as is most of the time in trading......If it goes on to make new highs,great.Else,adhere to your stops if hit.

About Ques 2........nope on buying at pivot lows......Buy once newer pivot highs are made......Simply because at higher pivot lows,you do not know if this is just a decline or the start of a downtrend.Guessing that this is nothing but a pullback and not a downtrend can be dangerous.........

Saint

 

[Saint]

Some good stuff Amit,Nick,DJ........Thanx as always


Saint

 

[lvgandhi]

Nifty has made a lower pivot high and previous pivot low is broken. Can we say Nifty is in down trend?

 

[djsinha]

Nifty has made a lower pivot high and previous pivot low is broken. Can we say Nifty is in down trend?

The daily, weekly and the monthly charts of Nifty are attached. As is aparent, monthly is still in uptrend. Daily and weekly are in downtrend. Infact the daily pivot low got cracked on the downside yesterday only. So, NIFTY is in an intermediate downtrend, while the primary trend is still UP.

 

[lvgandhi]

The daily, weekly and the monthly charts of Nifty are attached. As is aparent, monthly is still in uptrend. Daily and weekly are in downtrend. Infact the daily pivot low got cracked on the downside yesterday only. So, NIFTY is in an intermediate downtrend, while the primary trend is still UP.

Current Pivot high in weekly is 5299 on week ending 2 may. Am I correct?

 

[djsinha]

Current Pivot high in weekly is 5299 on week ending 2 may. Am I correct?

Yep...absolutely. 5298.85 to be precise on the week ending 2/5/2008.

 

[xman_in]

saint or any senior member. as per saints strategy, can we enter bartronics as ,on weekly charts, it is in uptrend. keeping low of 12/5/2008 as stop loss. please correct me if i am wrong, as i am still in learning phase. so trying to learn trading on pivots.

 

[amitpethkar]

Hi Saint,

If you look at today's NIFTY fut 5 min chart, there was break of previous pivot low at around 11:56 am. So as per Pivot method we enter short with stop at pivot high and it immediately snapped back and covered the negative b/o bar completely and finally stopped out.

Let me know if we could have avoided this trade in any way. One thing is market had not broken day's high and low yet.

Thanks,
Amit