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

[nick721156]

dear friends,

shall we consider the attached chart one in uptrend or one in sideway trend?
if yes, why?
if no, why?

regards,

nick

 

[bs_4v]

saint give call of buy/sell

 

[skarpio]

saint give call of buy/sell

You would learn a lot and probably generate yourself buy/sell calls from this thread. This thread is not about calls, its a level up. Use the forum's searching capabilities.

 

[Saint]

dear friends,

shall we consider the attached chart one in uptrend or one in sideway trend?
if yes, why?
if no, why?

regards,

nick

Till PH2 of your chart,it's an uptrend,now it's a dntrend........more importantly,have a look at the chart.It is a perfectly untradable chart,at least with pivots............Amit,if you are around,that's what I mean by an ugly looking chart.

Better piece of advice,Nick,from my end...............If you see such a chart,don't bother trying to decipher it.Chuck it,Move on to the next one.

Saint

 

[Saint]

dear friend,

although question was out to saint, i am trying to answer your question.

when the upward inclination of a chart is normal, we raise our stoploss to the next higher pivot low once higher pivot high is taken out. however, if the upward trend is very steep we put our stoploss at the low of previous 2 bars.

it is the steepness of the uptrend that differentiates both the stoplosses.

regards,

nick

Shrineha,

Same as what Nick stated above.....Thanx Nick.

Saint

 

[Saint]

Dear Mahesh
We here just purely follow the trend. No MACD, no RSI, no MA crossover. Just pure pivot play.
In ONGC, we find the weekly is forming lower pivot highs and lower pivot lows. So, an intermediate downtrend phase. Hence we'll short.
Next issue is when to short? Now we see that weekly is about to take a rally. So we'll wait for the rally on the weekly to get over. Then on the next to next candle to the candle (say, candle 'c') forming the pivot high, we'll look to short.
The next question that obviously comes is....on the entire week represented by the candle c+1, on which day will we short? For that we pull out the daily chart. Now the day on which the prev pivot low will get cracked...we'll short below the lowest pivot low...keeping SL at prev pivot high.

See...I've given a very detailed step-by-step procedure. Hope this helps.
Saint, pls see...have I missed anything?

Cheers
D J Sinha

Nothing to add,my friend.

Saint

 

[Saint]

Japanese candlesticks were used by rice traders in japan for whom tech. analysis term might as well be a rock's name on jupiter.It should be therefore visualized not memorized...TRAIN YOUR EYES..LISTEN TO YOUR HEART,,,THIS IS TRADING

Well put Ganesh......Welcome to Traderji!

Saint

 

[Saint]

Since above link not given properly here I am reesubmeeting my query of valid chart patterns, any senior memebers care to answer
http://www.traderji.com/technical-analysis/12686-kiss-like-mcgrath-41.html

Regards

Think the Wolfe-man of the forum is Ajax and a few others........best you ask them to give you a helping hand.

Saint

 

[Saint]

Dear Saint,

Is it the right time to enter CAIRN? Price closed above last week high of 298. Chart attached.


Regards

Reji

Yep Reji.....a buy over 306 with a stop loss at 281.5

Saint

 

[Saint]

You would learn a lot and probably generate yourself buy/sell calls from this thread. This thread is not about calls, its a level up. Use the forum's searching capabilities.

Once again,nothing to add to the above.....

Saint