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| Discuss New Intermed Uptrend!! at the Position Trading Stocks within the Traderji.com - Discussion forum for Stocks Commodities & Forex; Originally Posted by avinash Hi Saint, I use candle sticks .....I was just wondering,since you ... |
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#881
27th September 2005, 09:27 PM
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Re: New Intermed Uptrend!!
Quote:
Good idea........was thinking about starting continuation patterns tomorrow.But will do some Jap Candlestick Reversal Patterns first. Thanx! Saint 
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#882
28th September 2005, 01:26 AM
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Re: New Intermed Uptrend!!
Hi Saint
Candle stick Reversal patterns ...Always found it confusing...nice names they have....Abadoned baby, three black crows etc etc.. Looking forward to your post to clear my fundas...  Meanwhile my screener picked the following....  Varun Shipping : Had been moving sideways for the last two weeks. Dropped more than 10% during the so-called correction. In the last two sessions it took out all the loss. Today it Broke out with huge volume. May be better to wait for the pullback to enter. Canfina Homes.: was moving side ways form march. There was an attempted breakout in august. Could not cross the resistance at 53. Today surged with a huge volume to 57. Should face resistance at 57. Crossing 57 could see 70. Wait and watch Crompton Greaves : looks poised for a breakout. But have to take out the resistance at 650. (by the way TRIX is also turning up…  .)Or maybe one should still wait and see …market is still confusing me..  If you get time please look up the above… Regards Karthik
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#883
28th September 2005, 11:41 AM
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Re: New Intermed Uptrend!!
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All neat breakouts.......but as you said let's just wait n watch for now.Risk manage the present holds......let's stand aside and watch for now. Saint
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#884
28th September 2005, 11:52 AM
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Re: New Intermed Uptrend!!
REVERSAL PATTERNS(CONT.)
8.RISING WEDGE -This pattern usually a continuation pattern. -happens in the middle of a downtrend. -But when it happens after a strong uptrend,expect it to act as areversal pattern.(In an uptrend,we see falling wedges.In adowntrend,we see rising wedges.......when we get a rising wedge after an uptrend,it's bearish). -Again,in wedges,volume decreases in the wedge,and increases on breakdown. 9.FALLING WEDGE -Opposite to the above. -usually happens in an uptrend.Acts as a continuation pattern. -when it happens after a downtrend,acts as a reversal pattern. Either way,Falling wedges are bullish......Rising Wedges are Bearish! How do we make out if this pattern is a wedge or not? -Connect the tops,then connect the bottoms.......in a Rising wedge,the top line has to be rising,and the line below would also be rising upwards.In a Falling wedge,the line connecting the peaks will be a downward slanting line.The line connecting the troughs would also be slanting downwards. Happy Trading!! Saint Last edited by Saint; 28th September 2005 at 12:27 PM.
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#886
28th September 2005, 12:03 PM
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Re: New Intermed Uptrend!!
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What about those pics? Saint
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#888
28th September 2005, 01:30 PM
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Re: New Intermed Uptrend!!
Quote:
Quote:
Would most appreciate if you could give a bit more data....as in are you planning to buy,or bought and planning to hold?Are you looking at short term charts or long term charts? PTC:Still all over the place........forget about this one.May go up,may go down,most likely sideways,most definitely will be all over the place.....Better to look for something neater. PETRONET LNG:Nice breakout in July,nice uptrend so far.If you are a trend player and want to get in,you could enter with a stop loss of 53.....and share size accordingly! ICICI BK :If in,still a hold.Nice uptrend....looks good.If planning to get in,wait for a p/b. HMT:Still within a rectangle........eod close over 95 is confirmation.Wait n watch for now! Happy Trading!! Saint
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