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

[prabhu53]

Saint,Saintlier,Saintliest

,khudos to the man who has done so much to fellow traders....
thanks in advance

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

Saint

 

[Saint]

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

Hi Nick,

RANBAXY is in an intermediate uptrend.....importantly,it was in a primary downtrend as well.Over the 462 area,it sets up a primary uptrend and an intermed uptrend.Personally got in abt the late 470-ish area(saw it a bit late!)

That was the entry point....all else add points,or entry points if not in already.....Nope,no need to wait for a weekly dntrend.Buy over the previous pivot high on the daily with stops at previous pivot lows.The buy should have been over 518 with stops at 491.

Saint

 

[Saint]

Hi Saint,

Based on the current situation will this trend theory hold?

Maddy

Either downtrend or uptrend,trends will always be there........if not in this stock,may be that,or the other one.If not in the daily,there is a trend on the 60.Or the 5..............there will always be a trend somewhere.....and with it the traders capitalising on a trend.

Saint

 

[deb99891]

Either downtrend or uptrend,trends will always be there........if not in this stock,may be that,or the other one.If not in the daily,there is a trend on the 60.Or the 5..............there will always be a trend somewhere.....and with it the traders capitalising on a trend.

Saint

sir
may not be a true follower of ur method
as my time frame of most trades r too short
golden words for me
regards

 

[kapil1301]

Hi !

can anyone please give me the url from where i can download compilation
of teach a man fish thread i have tried 3-4 links mentioned on page 52 and earlier pages .
I will be very thankful

Kapil

 

[nick721156]

Hi Nick,

RANBAXY is in an intermediate uptrend.....importantly,it was in a primary downtrend as well.Over the 462 area,it sets up a primary uptrend and an intermed uptrend.Personally got in abt the late 470-ish area(saw it a bit late!)

That was the entry point....all else add points,or entry points if not in already.....Nope,no need to wait for a weekly dntrend.Buy over the previous pivot high on the daily with stops at previous pivot lows.The buy should have been over 518 with stops at 491.

Saint

dear saint,

thanks for your reply.
i gave you a PM yesterday. please go through it. would be very happy if you share your feelings and encourage me.

regards,

nick

 

[nick721156]

dear saint,

i am going to ask you a small thing clarified once again. you have told that many many times. yet when today i was refering to your previous posts here, i got a bit confused regarding BUY SET UP. in the EDUCOMP example(you attached the chart also-probably weekly one), you mentioned that we plan to buy once previous bar's high is taken out.
i have attached 02 charts of Bharti Airtel and queries are put in the weekly chart body itself.
please clear my confusion whenever you find time.

regards,

nick

 

[Saint]

dear saint,

i am going to ask you a small thing clarified once again. you have told that many many times. yet when today i was refering to your previous posts here, i got a bit confused regarding BUY SET UP. in the EDUCOMP example(you attached the chart also-probably weekly one), you mentioned that we plan to buy once previous bar's high is taken out.
i have attached 02 charts of Bharti Airtel and queries are put in the weekly chart body itself.
please clear my confusion whenever you find time.

regards,

nick

Hi Nick,

Open up your Bharti Airtel weekly charts.......Till the Oct 12th week,2007,we have an uptrend on the weekly charts.........higher pivot highs and lows.Strategy on the weekly uptrend:Every time you get a decline,each candle making lower highs and lows,the first candle that breaks last week's high,BUY!

From Oct 12th to March 19th week,2008,Bharti is putting in lower pivot highs and lows.......meaning Bharti is in an intermediate downtrend.Strategy:Either short the rally using the above strategy,or if only interested in longs as in position trading,you stay clear and wait for an intermediate uptrend to reemerge.In a downtrend,you can't buy over last week's high........you wait till weekly triggers an uptrend.

March 19th till now,it's trying to get back into uptrend territory,there are some trades off the daily charts,but still not an intermed uptrend ..Strategy if you are a position trader:Nothing.You are looking for the magic number of 979 to cross that would trigger an intermed uptrend.

So basically,decline within an uptrend,buy the previous bar high on the weekly chart.Downtrend,wait for a previous pivot high and then only dare to enter.These 2 statements are with reference to the weekly chart only.

Saint

 

[nick721156]

Hi Nick,

Open up your Bharti Airtel weekly charts.......Till the Oct 12th week,2007,we have an uptrend on the weekly charts.........higher pivot highs and lows.Strategy on the weekly uptrend:Every time you get a decline,each candle making lower highs and lows,the first candle that breaks last week's high,BUY!

From Oct 12th to March 19th week,2008,Bharti is putting in lower pivot highs and lows.......meaning Bharti is in an intermediate downtrend.Strategy:Either short the rally using the above strategy,or if only interested in longs as in position trading,you stay clear and wait for an intermediate uptrend to reemerge.In a downtrend,you can't buy over last week's high........you wait till weekly triggers an uptrend.

March 19th till now,it's trying to get back into uptrend territory,there are some trades off the daily charts,but still not an intermed uptrend ..Strategy if you are a position trader:Nothing.You are looking for the magic number of 979 to cross that would trigger an intermed uptrend.

So basically,decline within an uptrend,buy the previous bar high on the weekly chart.Downtrend,wait for a previous pivot high and then only dare to enter.These 2 statements are with reference to the weekly chart only.

Saint

Dear saint,

that means if we trade off the weekly chart, these two methods are to be followed.

In case of trading off the daily chart, it will be always after the previous pivot high being taken out in daily considering weekly in uptrend.

am i in line with you?

thanks for your explanation.

regards,

nick

 

[shrineha]

Hello Saint,

I also have similar questions. Sometimes while mentioning trailing stoplosses you mention about Pivot breaks and sometimes you mention about previous 2 bars method.

Will it be possible for you to to guide us on when to use previous 2 bars and when to use pivot breaks?

Once again many thanks for your help and teachings.

Kind regards,
shrineha