Trading Strategies Using Technical Analysis
- Thread starter SwingKing
- Start date
- Tags trading strategies
Raunak,
I am a bit confused on your statement - Voltas now has lost its price structure , I am trying to compare the Chart of Voltas to Sterlite ( Mentioned in point 6 i.e Final Price Analysis ).
When i check the retracement "I think" its Weakly Bullish - Retraces more than 38.2% but less than 50% (50% retracement Price is 206 ). I do Not see any drastic decrease in Volume as well. Currently there has been a pullback from 215.
The first RED line is marked at 38.2% Retracement i.e at 218.
The second RED line is at 61.8% Retracement i.e at 193.5( Which was NOT breached ).
The chart data is from NOV 09 to date ( Daily Chart ), On the Weekly Chart the Current Price is above 38.2% retracement which is 214.5 .
I have posted a Crude Chart...
.....Below , could you please explain Reason(s) for your conclusion that Voltas has Lost its price structure.
( Seeing your statement on Price structure I am having Second Thoughts on My interpretation of Charts .....i.e AM I improving OR....
......)
Thank you for your Reply,
Best Wishes,
Nithin.
I am a bit confused on your statement - Voltas now has lost its price structure , I am trying to compare the Chart of Voltas to Sterlite ( Mentioned in point 6 i.e Final Price Analysis ).
When i check the retracement "I think" its Weakly Bullish - Retraces more than 38.2% but less than 50% (50% retracement Price is 206 ). I do Not see any drastic decrease in Volume as well. Currently there has been a pullback from 215.
The first RED line is marked at 38.2% Retracement i.e at 218.
The second RED line is at 61.8% Retracement i.e at 193.5( Which was NOT breached ).
The chart data is from NOV 09 to date ( Daily Chart ), On the Weekly Chart the Current Price is above 38.2% retracement which is 214.5 .
I have posted a Crude Chart...
.....Below , could you please explain Reason(s) for your conclusion that Voltas has Lost its price structure.( Seeing your statement on Price structure I am having Second Thoughts on My interpretation of Charts .....i.e AM I improving OR....
......)Thank you for your Reply,
Best Wishes,
Nithin.
Dear nitin,
May be some data problems.....here is my chart for voltas...
[/URL] Uploaded with ImageShack.us[/IMG]
May be some data problems.....here is my chart for voltas...
Hi Friends,
It is my view about voltas by Using multiple Fib levels and emas.
Can be bought at 210 levels with a stop lose some where around 198-199on closing basis. Please reffer the chart. URL=http://img3.imageshack.us/i/voltas.jpg/]
Regards,
Gangadharan
Last edited:
Nithin,
Pure price Analysis suggests Voltas is now trading below the recent pivot low, which it did not do for last 6-7 months (breached on intraday only). Hence till this gets in shape again, I will stay away from it. Stock remains in watch list because on higher time frame its structure is good.
Keeping it very simple.
Tc
Pure price Analysis suggests Voltas is now trading below the recent pivot low, which it did not do for last 6-7 months (breached on intraday only). Hence till this gets in shape again, I will stay away from it. Stock remains in watch list because on higher time frame its structure is good.
Keeping it very simple.
Tc
Raunak,
Here i Come again to Nag you again on Voltas,
-All the RED lines marked on your chart are at Pivot Lows ( Low of the Respective day ) except for the 4th Red Line and the Blue Line.....Is it Because the low could have been due to non Limit order(Market Price ) placed before market opened causing the low(Hence ignored).
-The recent Pivot low, if low of the respective trading day is considered then it is 213 i.e on 29th , and if close of a day is considered then it is 215.05 on 30th . On 31st Both were taken Out at Close, i.e it was 217.70 , And Today I see a WRB Closing at 225.95, ( I Know they are Now on your watchlist, But would it have been appropriate to buy on EOD on 31st since the closing price was Obviously above 213 and 215 !!! ).
Am i making things too complicated in reading the Charts .....
Thanks for your Reply,
Best Wishes,
Nithin.
Here i Come again to Nag you again on Voltas,
-All the RED lines marked on your chart are at Pivot Lows ( Low of the Respective day ) except for the 4th Red Line and the Blue Line...
..Is it Because the low could have been due to non Limit order(Market Price ) placed before market opened causing the low(Hence ignored). -The recent Pivot low, if low of the respective trading day is considered then it is 213 i.e on 29th , and if close of a day is considered then it is 215.05 on 30th . On 31st Both were taken Out at Close, i.e it was 217.70 , And Today I see a WRB Closing at 225.95, ( I Know they are Now on your watchlist, But would it have been appropriate to buy on EOD on 31st since the closing price was Obviously above 213 and 215 !!! ).
Am i making things too complicated in reading the Charts .....
Thanks for your Reply,
Best Wishes,
Nithin.
Nithin,
Pure price Analysis suggests Voltas is now trading below the recent pivot low, which it did not do for last 6-7 months (breached on intraday only). Hence till this gets in shape again, I will stay away from it. Stock remains in watch list because on higher time frame its structure is good.
Keeping it very simple.
Tc
Pure price Analysis suggests Voltas is now trading below the recent pivot low, which it did not do for last 6-7 months (breached on intraday only). Hence till this gets in shape again, I will stay away from it. Stock remains in watch list because on higher time frame its structure is good.
Keeping it very simple.
Tc
Last edited:
Similar threads
-
-
Trading the S/R Flip - Strategies around this widely used concept
- Started by ASB
- Replies: 4
-
I am tradingview paid user and want to use their strategies for algo trading
- Started by curiousv
- Replies: 9
-
-