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

[nick721156]

dear saint and other friends,

is Flag getting formed in daily chart of cairn? volume is contracting, too.

regards,

nick

 

[amitpethkar]

dear saint and other friends,

is Flag getting formed in daily chart of cairn? volume is contracting, too.

regards,

nick

You can't call it a flag because the gradient is steep. Already 6 down bars which negated almost all the upmove.

Thanks,
Amit

 

[maddy_invest]

Hi Saint,

I'm having problem understanding buy setup.
Can you explain it once more?
What have you meant by buying when the previous bar's top is taken out?Can we buy at any price once the top is taken out? or something specific needs to be considered?
Will this previous bar be a bullish one or a bearish one or can be both?
and what about this current bar?

sorry for so many questions.

Maddy

 

[Satyen]

Hi Saint,

I'm having problem understanding buy setup.
Can you explain it once more?
What have you meant by buying when the previous bar's top is taken out?Can we buy at any price once the top is taken out? or something specific needs to be considered?
Will this previous bar be a bullish one or a bearish one or can be both?
and what about this current bar?

sorry for so many questions.

Maddy

hi maddy
he also explained all the time frame buy set up i his new thread 60 min flow in equity section you can check there

Regards
Satya

 

[deb99891]

Hi Saint,

I'm having problem understanding buy setup.
Can you explain it once more?
What have you meant by buying when the previous bar's top is taken out?Can we buy at any price once the top is taken out? or something specific needs to be considered?
Will this previous bar be a bullish one or a bearish one or can be both?
and what about this current bar?

sorry for so many questions.

Maddy

go through this thread from beginin "Teach A Man To Fish And........
i think ur doubt ll be clear

 

[nick721156]

You can't call it a flag because the gradient is steep. Already 6 down bars which negated almost all the upmove.

Thanks,
Amit

dear amit,

thanks for the clarification.

regards,

nick

 

[nick721156]

dear saint & other friends,

i have a little confusion about buy set up in Ranbaxy. in weekly chart, Ranbaxy is in uptrend. so, we should buy over the previous pivot high in daily chart. today(30/05/08), ranbaxy has made new high of 535 in daily chart. its previous pivot high was 517.90. in case, we want to buy on monday in the coming week, shall we buy over the previous pivot high i.e. 517.90 or over today's high of 535 or wait for a decline. if we wait for a decline in daily, when to take position? or shall we wait for a decline in weekly - which might not happen for some more time?

i am attaching both the charts.

regards,

nick

 

[djsinha]

dear saint & other friends,

i have a little confusion about buy set up in Ranbaxy. in weekly chart, Ranbaxy is in uptrend. so, we should buy over the previous pivot high in daily chart. today(30/05/08), ranbaxy has made new high of 535 in daily chart. its previous pivot high was 517.90. in case, we want to buy on monday in the coming week, shall we buy over the previous pivot high i.e. 517.90 or over today's high of 535 or wait for a decline. if we wait for a decline in daily, when to take position? or shall we wait for a decline in weekly - which might not happen for some more time?

i am attaching both the charts.

regards,

nick

I think you shud wait for a decline in daily. The daily has shoot up too much today. Alteast you can be sure that it'll drop in the next 3-4 days. Just wait and see. When you find the first green candle after 3-4 red candles and if the green candle has higher high and higher low than the preceding candle, you can say that the decline has completed itself and you can buy.

Nothing will be wrong if you buy even on Monday. But, if you wait some more days, you can get the same at a somewhat lower price....making the fruit taste a little but more juicy.


[ Few words on the above......Had you wanted to put your buy order today itself on intraday basis...you cud have put those resting abv prev pivot high of 517.90. But since the price has zoomed past this level and has risen too much......it would be advisable to wait for it to fall a little.]

Cheers
D J Sinha

 

[nick721156]

I think you shud wait for a decline in daily. The daily has shoot up too much today. Alteast you can be sure that it'll drop in the next 3-4 days. Just wait and see. When you find the first green candle after 3-4 red candles and if the green candle has higher high and higher low than the preceding candle, you can say that the decline has completed itself and you can buy.

Nothing will be wrong if you buy even on Monday. But, if you wait some more days, you can get the same at a somewhat lower price....making the fruit taste a little but more juicy.


[ Few words on the above......Had you wanted to put your buy order today itself on intraday basis...you cud have put those resting abv prev pivot high of 517.90. But since the price has zoomed past this level and has risen too much......it would be advisable to wait for it to fall a little.]

Cheers
D J Sinha

Dear friend sinha,

you are absolutely right that it will come down in 3-4 day's time.

for my knowledge, i want to get a couple of things clarified. as we know here that once weekly and daily are in uptrend, we should wait for daily to decline and then buy over the high of "previous pivot high" in daily chart. if we straightway go by this method/concept, then we will end up buying at least over 535, considering a gradual decline from next trading day and then upward movement with no other "pivot high" in between. Of course, if the stock moves upward from next trading day, it would be altogether a different story.

in the present scenario, i also feel that your suggestion is better suited sothat we get it at a lower price than 535!

please, correct me, all you friends, if i am missing something.

regards,

nick

 

[djsinha]

Dear friend sinha,

you are absolutely right that it will come down in 3-4 day's time.

for my knowledge, i want to get a couple of things clarified. as we know here that once weekly and daily are in uptrend, we should wait for daily to decline and then buy over the high of "previous pivot high" in daily chart. if we straightway go by this method/concept, then we will end up buying at least over 535, considering a gradual decline from next trading day and then upward movement with no other "pivot high" in between. Of course, if the stock moves upward from next trading day, it would be altogether a different story.

in the present scenario, i also feel that your suggestion is better suited sothat we get it at a lower price than 535!

please, correct me, all you friends, if i am missing something.

regards,

nick

Yep, what you have said is mostly correct. But Nick, I want to point out one thing. You're saying that 535 is the latest pivot high and you should buy above it (See the bold portions of the quoted text above). But, you see, we can't say for sure that the pivot high is at 535, 'coz on Monday it can form a new high.
[Remember one basic thing...to identify a pivot high you need to see the candles on both sides of the pivot candle.]