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Discuss Nifty Futures Trading at the Derivatives within the Traderji.com - Discussion forum for Stocks Commodities & Forex; Originally Posted by Saint Ashish, Any pattern that puts money in your pocket is a ...


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  #2601  
Old 28th March 2008, 02:15 PM
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Default Re: Time to Stick my Neck Out ,Nifty 7300

Quote:
Originally Posted by Saint View Post
Ashish,

Any pattern that puts money in your pocket is a great pattern.......but traditionally,an inverse head and shoulder MUST happen after a downtrend in that time frame.

Same pattern after an uptrend.....and it doesn't qualify.....but again,not that you won't make money off it either way.

Saint
Very right Saint. Earlier I also used to think that Inverse H&S should not form as a continuation pattern. On the forum, had posted a lengthy piece about it replying to Dusant but then I read "Edward & Magee" once again and they agree that an Inverse H&S may form during a bullish rally as continuation pattern but it can not be relied upon to objectively decide the target.

Regards,
--Ashish

Last edited by aca_trader; 28th March 2008 at 02:23 PM.
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  #2602  
Old 28th March 2008, 02:17 PM
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Default Re: Time to Stick my Neck Out ,Nifty 7300

4861 spot impt
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  #2603  
Old 28th March 2008, 02:17 PM
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Default Re: Time to Stick my Neck Out ,Nifty 7300

Quote:
Originally Posted by aca_trader View Post
Very right Saint. Earlier I also used to think that Inverse H&S should not form as a continuation pattern. On the forum, had posted a lengthy piece about it replying to Dusant but the read "Edward & Magee" once again and they agree that an Inverse H&S may form during a bullish rally as continuation pattern but it can not be relied upon to objectively decide the target.

Regards,
--Ashish
New info for me........thanks!

Always learning something new from this forum.

Saint
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  #2604  
Old 28th March 2008, 02:18 PM
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Default Re: Time to Stick my Neck Out ,Nifty 7300

Quote:
Originally Posted by kkseal View Post
4861 spot impt
Kalyan,

Do you trade full time?

Think there is great value in your posts......you really ought to post more often for the benefit of us all.

Saint
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  #2605  
Old 28th March 2008, 02:19 PM
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Default Re: Time to Stick my Neck Out ,Nifty 7300

Finally the upmove started!! Great analysis Ashish..Congrats.
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  #2606  
Old 28th March 2008, 02:20 PM
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Default Re: Time to Stick my Neck Out ,Nifty 7300

Long 4880, SL 4860.
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  #2607  
Old 28th March 2008, 02:24 PM
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Default Re: Time to Stick my Neck Out ,Nifty 7300

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Finally the upmove started!! Great analysis Ashish..Congrats.
Thanks deb! But no great analysis on my part. If you would have followed Saint, you would have been up by more than 30 points when my Entry triggered.

Regards,
--Ashish
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  #2608  
Old 28th March 2008, 02:28 PM
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Default Re: Time to Stick my Neck Out ,Nifty 7300

Looks highly overbght now - better to book?
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  #2609  
Old 28th March 2008, 02:30 PM
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Default Re: Time to Stick my Neck Out ,Nifty 7300

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Originally Posted by kkseal View Post
Looks highly overbght now - better to book?
At the hourly resistence line of consolidation.
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  #2610  
Old 28th March 2008, 02:39 PM
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Default Re: Time to Stick my Neck Out ,Nifty 7300

Pennant breakout on 60-min; let's see if it hold, matures and materializes or fizzles out as the H&S breakdown of 2 days ago.
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