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| Discuss Teach A Man To Fish And......... at the Technical Analysis within the Traderji.com - Discussion forum for Stocks Commodities & Forex; the Quote is Good has simple and deep meaning to it... |
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#1161
2nd February 2008, 12:29 PM
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Re: Teach A Man To Fish And.........
the Quote is Good has simple and deep meaning to it
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#1162
2nd February 2008, 08:21 PM
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Re: Teach A Man To Fish And.........
Hi Saint,
Hope you are doing fine.... I have some doubts about trading the pivots or trading the trendlines. Pls see the attached weekly chart of nifty futures - near month, for last 5 years. I have drawn a trendline which has upheld itself for the last 5 years. This time too, the market fall, after breaking pivot lows, has now come up to the trend line. My confusion is : Can a bounce up from this trend line qualify as a start of uptrend, or should we wait for higher pivot highs to be formed? In other words, Can we trade this trend line or should we wait? Basically, in other words, what is more important? Trendlines or pivots? Also, since I consider this trendline to be a very basic trendline and which has upheld the test of time, is it more important than the shorter term trendlines. Hope I have made myself clear. Regards, SKG |
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#1163
2nd February 2008, 11:53 PM
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Re: Teach A Man To Fish And.........
Quote:
Though it's addressed to Saint, I'll try to answer your question, offcourse if Saint doesn't mind. Since the price touched the trendline and bounced from it, you are getting an idea that this long term trendline still acts as a support. In simple words this means that the long term uptrend is still intact. Having got this idea, now you shud now look into the daily chart/ weekly chart to find out pivot points and trade those pivot points accordingly. Saint pls point out if I'm wrong. Cheers djsinha |
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#1164
3rd February 2008, 07:28 PM
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Re: Teach A Man To Fish And.........
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#1166
8th February 2008, 01:31 AM
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Re: Teach A Man To Fish And.........
Quote:
Shall answer shortly...... All the best! Saint
__________________
"You cannot change the direction of the wind,but you CAN adjust the sail..." |
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#1167
8th February 2008, 01:40 AM
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Re: Teach A Man To Fish And.........
Below the chart of the DOW from early 1990's..........break in previous pivot low on monthly charts as of Jan 2008.Whether this is going to be a deep cut,or a grinding consolidation or a bit of both,the attitude now is to Sell the Rally.
As far as Dow is concerned,it has loitered into Bear terrain......unless huge volumes negate the last few bars,more downside is expected. Saint
__________________
"You cannot change the direction of the wind,but you CAN adjust the sail..." |
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#1168
8th February 2008, 01:52 AM
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Re: Teach A Man To Fish And.........
FTSE Charts as attached.....Same here.FTSE in Bear Terrain as well.
Saint
__________________
"You cannot change the direction of the wind,but you CAN adjust the sail..." |
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#1169
8th February 2008, 01:55 AM
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Re: Teach A Man To Fish And.........
Same story with the DAX......Bear Terrain,and Sell the Rally Mode!
Saint
__________________
"You cannot change the direction of the wind,but you CAN adjust the sail..." |
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#1170
8th February 2008, 02:09 AM
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Re: Teach A Man To Fish And.........
Hang Seng in Iffy territory.....not in Bear Terrain as yet,but the next rally must take out new highs.Lower pivot highs formed will see lower lows.
Saint
__________________
"You cannot change the direction of the wind,but you CAN adjust the sail..." |
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