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

[ruchir131986]

hi i m new to TA... reading posts here regularly.... can anyone please guide me proper thread for learning of pivots.... also fibonacci retracements.....
thanx in advance.....

 

[nick721156]

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.]

dear friend sinha,

you are right when you said that on coming monday, it may go up instead of going down. the same thing was indicated by saying, "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. "

whatever it is, your suggestion for entry is the best one for the present scenario.

thanks for help.

regards,

nick

 

[djsinha]

whatever it is, your suggestion for entry is the best one for the present scenario.

thanks for help.

You are most welcome my friend Nick...but lets see what Saint has to comment. His advice will always be the perfect one.
Saint, please share your views.

Cheers
D J Sinha

 

[nick721156]

You are most welcome my friend Nick...but lets see what Saint has to comment. His advice will always be the perfect one.
Saint, please share your views.

Cheers
D J Sinha

dear sinha,

can i post a private message to you?

regards,

Nick

 

[maddy_invest]

Hi Saint,

Based on the current situation will this trend theory hold?

Maddy

 

[Saint]

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.

Hi xman,

BARTRONICS is in an intermed uptrend over 252.......but there are better looking ones out there,my friend.

Saint

 

[Saint]

Hi XMan,
Though I'm not a senior member.....still let's try answering your querry. As far as Bartronics is concerned, we can't say for sure that weekly is in uptrend...because we have got a higher pivot high but not a higher pivot low. The pattern in the weekly can as well be a double top pattern and can come all the way down to the previous pivot low and down furthur.

Now that doesn't mean that you can't go long on Bartronics. You can buy the daily above the previous pivot high of 252.50 keeping SL at 205.25 as you rightly mentioned and moving the SL up as more pivot highs and pivot lows form.

Or, you can do one more thing. You can wait until weekly prints a higher pivot low. You can buy on the immediate next candle to the candle forming the most recent pivot low on the weekly.

HTH.
Cheers
D J Sinha

Great going,DJ......


Saint

 

[Saint]

seniors please answer.

(1)In the attached chart, when double bottom D1 occured, Nifty did not go up which was expected by this pattern.

(2) when double top T1 occured Nifty did not go down !

Is it defiance of chart pattern or I have committed some mistake ?

waiting for your reply.

regards

Mahesh,Both the areas mentioned in the chart........neither a Double Top,nor a Double Bottom................... do have a look again at the posts on Double Top and Double Bottom earlier part of this thread.Or have a look at stockcharts.com


Saint

 

[Saint]

dear saint and other friends,

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

regards,

nick

Have a look at the gradient,Nick.....too steep to qualify it as aflag.

Saint

 

[Saint]

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

Thanks,
Amit

Yikes,Amit........same reply.

Good to have so many guys pitching in and helping each other out......Thanx!

Saint