New Intermed Uptrend!!

Just to give an example of a pivot......look at your left hand.Imagine that each finger was a bar on the chart.Therefore we have the first bar(the little finger),the ring finger takes out the high of the little finger and forms anew high......a higher high.The middle finger has taken out the high of the ring finger.....a higher high.Then we have the index finger,this finger forms a lower high as compared to the middle finger......we now have a lower high.The ring,middle and index fingers have therefore formed a pivot.......hope this helped !

Happy Trading!
Saint

Originally Posted by saint
Just to give an example of a pivot......look at your left hand.Imagine that each finger was a bar on the chart.Therefore we have the first bar(the little finger),the ring finger takes out the high of the little finger and forms anew high......a higher high.The middle finger has taken out the high of the ring finger.....a higher high.Then we have the index finger,this finger forms a lower high as compared to the middle finger......we now have a lower high.The ring,middle and index fingers have therefore formed a pivot.......hope this helped !

Happy Trading!
Saint

Hey saint...really very nice, friend...
And to think all these years every time I looked at my hand, it was to see if my fate line was making any higher pivot lows!

Wonderful explanation Saint ! Simple and easy to understand.

Thanks,
nkpanjiyar

Hi Saint,
Nice explanation especially for newcomers to the market like me.Thank you for all the learning and guidance!

Avinash
ps:You have been silent last few days......hope all is well!

Hi Avinash,
Thx for those kind words.......I apologise for not being around for some time.My daughter's not been keeping well last 5 days and I have been struggling to focus.I apologise for not being able to answer all questions,etc.

Thx for asking,Avinash.

Saint

Hi Neeraj,
Super trade,my friend........very nice.Personally,would take 1/3rd profits here(why?If this one dumps,my mind is going to go into the would've,could've should've mode......so would satisfy that urge by taking a third off the table).Then I'd raise my stop loss to 90.5(a bit below the low of today) and try to squeeze out of this trend as much as possible.Great going,my friend......nice!!

Saint

Hi Saint,

Thanx for advising to take partial profits at 100+ level.Rest was stopped out at 91.5.Now it seems to be forming a two bar reversal.

regards
Neeraj

Hi Saint

I am back again

Saint, If you have the time can you please explain how to set the targets for a stock (Resistances?), esp.. when the stock is trading at its highest value and still going strong..(fibonnaci ratios?)

Thanks

karthik