New Intermed Uptrend!!

jamit_05 · #**4071** 15th April 2008, 11:50 AM

Suzlon is in daily-up too? The charts never did really show a daily close above the pivot high of 282. But this just might happen today.

Tatatea is a buy in hourly chart above 894 with SL: 868?

Saint · #**4072** 15th April 2008, 01:53 PM

up in Divis Labs about 120 odd points.....flat on GMR......Up 50 odd on India Infoline.....TATA POWER up 60 odd.....

PARSVANATH looking yummy .....stalking it on the 60min.

Saint

uasish · #**4073** 15th April 2008, 02:04 PM

Gr8 ,as usual.

renu daga · #**4074** 15th April 2008, 02:13 PM

sir,,,saint,,,now ur view son nifty interim uptrend!!!

if look carefully teh weekly charts,,,,showed slightest sign of reversal ...but low did not pierecd,,,teh previouos low,,but was almost equal,,,

nifty still holding good in weekly indiacator,,,still upmove is left..
asish da u were talking of impule wave,,,can u specify the value,,,,i think u talked on eod basis.....
and tiodays -70 could be taken as an off,,,or the down leg moer sharp u think

renu

Saint · #**4075** 15th April 2008, 03:12 PM

Quote:

Originally Posted by renu daga

sir,,,saint,,,now ur view son nifty interim uptrend!!!

if look carefully teh weekly charts,,,,showed slightest sign of reversal ...but low did not pierecd,,,teh previouos low,,but was almost equal,,,

nifty still holding good in weekly indiacator,,,still upmove is left..
asish da u were talking of impule wave,,,can u specify the value,,,,i think u talked on eod basis.....
and tiodays -70 could be taken as an off,,,or the down leg moer sharp u think

renu

Not yet on daily uptrend,not yet an intermed uptrend......above 4968 ,Nifty Spot gets into a daily chart uptrend.

I am holding 60min longs though from 4677......would be sweet if that pivot high on the daily can get taken out.

Saint

Saint · #**4076** 15th April 2008, 08:43 PM

Quote:

So, you mean that if you are "combinationing" then you are not really as sure as when you are reacting. Therefore, you prefer to have a tighter stop. This is what you did for your recent entry in GMR Infra?

Amit.

Hi Amit,

I have a stock making a higher pivot low.......let us say we are talking abt GMR.It's been looking like basing and forming a higher pivot low.I then look to buy at 141-142,with a stop loss of 138-ish......But as is obvious I have yet to get my higher pivot lows confirming an uptrend as yet.

What I am looking for is to get in before the breakout happens.........and then to pile in during the breakout.

Yep,always more sure once the pivot highs are taken out.

Saint

Saint · #**4077** 15th April 2008, 08:57 PM

Quote:

Originally Posted by jamit_05

Hi Saint,

Divis Lab changed the daily trend to up on the 10th, and you made an entry on this day itself. My question is: The weekly is down, then why buy daily? However, if you wanted to trade the hourly chart, arent you supposed to wait for a pivot high break from an hourly downtrend?

Please clarify.

Amit.

Amit,

Once again,same answer as GMR........Moved in before the move,got the move past pivot highs therefore a confirmed uptrend on the daily charts........little more to go to say that this probably is an intermed uptrend.

NB:Only when I get patterns like these do I bother to anticipate a move......why anticipate,when you could wait and just react once the move happens?No harm in the latter.....but anticipating a high probable move before it happens allows me to enter nearer to my stops and therefore pile in more shares into that trade..........over the years,have seen certain patterns successful more times than not.....For example,a tight ascending triangle,I would anticipate a breakout and move in before the breakout happens.......it could fail,but more often,it doesn't.

Another example.......We have what looks like a double bottom....I wouldn't anticipate an entry till confirmation or pivot confirmation......why?Coz more often than not,it's just a descending triangle formation in progress that continues in its downward move.

Now,which ones are more reliable,............Ah,for that,I would tell you,pour through a 1000 charts or more!

Happy Trading!
Saint

Reji · #**4078** 15th April 2008, 09:35 PM

Quote:

Originally Posted by Saint

Robin,

Shall post a chart at a later time..........less reliance on trrendlines and more on pivots.......but trendlines are great when utilised in another way.

Shall post later!

Saint

Dear Saint,

Above lines are extract from one of your posts. When time permits, could you please brief why we should concentrate more on pivot than trendlines?

If you take the example of GMRINFRA, it is on the verge of daily breakout from the downtrendline and 20EMA, {seems to be a good chance to buy half}, but the prev. pivot high is around 158.

Thanks and Regards

Reji

Saint · #**4079** 15th April 2008, 09:45 PM

Quote:

Originally Posted by reji

Dear Saint,

Above lines are extract from one of your posts. When time permits, could you please brief why we should concentrate more on pivot than trendlines?

If you take the example of GMRINFRA, it is on the verge of daily breakout from the downtrendline, {seems to be a good chance to buy half}, but the prev. pivot high is around 158.

Thanks and Regards

Reji

Huff!Puff!Pant!Pant!......cannot explain about GMR all over again......suggest you read up last post and over the last 3 pages!

Nutshell:Pivot high is 158,buy once it crosses the 159 area and stop below the pivot low.But because this type of pattern happens again and again,we are anticipating a move and getting in early with a tight stop and then adding over pivot high ie 158

Trendlines suggest that a particular trend may be over,may soon be over,.....pivots confirm it.

Happy Trading!
Saint

Saint · #**4080** 15th April 2008, 09:55 PM

Quote:

Originally Posted by jamit_05

Suzlon is in daily-up too? The charts never did really show a daily close above the pivot high of 282. But this just might happen today.

Tatatea is a buy in hourly chart above 894 with SL: 868?

Stay clear of SUZLON....at a resistance point on the weekly charts......it either needs to go sideways here or give you a clear cut breakout....This would be a good example where you should NOT try anticipation,as the probability of this going down is as likely as a breakout.

If you are going to trade SUZLON,react to a move in either direction.

TATA TEA:If trading the 60min charts and 60min pivots.........yep,right!

All the best!
Saint

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