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| Discuss Pattern Trading at the Technical Analysis within the Traderji.com - Discussion forum for Stocks Commodities & Forex; Hello all, Please have a look at the charts. Are these patterns reliable? 1. Centurial ... |
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#101
26th January 2007, 04:16 PM
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Re: Pattern Trading
Hello all,
Please have a look at the charts. Are these patterns reliable? 1. Centurial Bank - flag. The breakout doesn't have volume confirmation. 2. HDFC - breakout from symmetric triangle. No volume confirmation during the day where it broke out. But the volume sky rocketed the following day. Can this volume be considered as confirmation for breakout? Thanks, Praveen. 
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#102
27th January 2007, 10:23 PM
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Re: Pattern Trading
Hi,
Some more patterns identified. Most of the patterns which i've posted are for learning purpose. Please feel free to air your views. Regards, Praveen. Last edited by bvpraveen; 27th January 2007 at 10:24 PM. Reason: Added files
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#103
28th January 2007, 09:11 PM
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Re: Pattern Trading
Quote:
Centurion Bank- The period of flag formation was only 3 days and hence it's doubtful if we it can be considered a flag. However, if this formation is accepted as flag, the volume on breakout day,i.e., 23rd Jan is more than double of the volume on preceding bar. IMHO, this should be accepted as volume confirmation. On the breakout day, if volume is be substantially (1.5 to 2 times) higher to the volume on previous bar, it can be taken as valid volume confirmation. Best Regards, --Ashish http://tradingtalks.blogspot.com
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#104
28th January 2007, 09:16 PM
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Re: Pattern Trading
Quote:
Thanks a lot for your kind words. Inspiration & knowledge of seniors is the motivator as well as fuel of this thread and the blog. I am merely putting down on the pages what I have learnt from everybody. Hope this serves the interest of fellow traders. Thanks once again! Best Regards! --Ashish http://tradingtalks.blogspot.com
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#105
28th January 2007, 09:19 PM
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Re: Pattern Trading
Quote:
Thanks for taking time to visit & appreciate the blog. How is your current reserach going on? Best Regards, --Ashish http://tradingtalks.blogspot.com
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#106
28th January 2007, 09:50 PM
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Re: Pattern Trading
Quote:
My views on HindOil and Cummins are attached. Cummins is a poised case while the HindOil R:R is not favourable from Pattern view-point. Best Regards, --Ashish http://tradingtalks.blogspot.com
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#107
28th January 2007, 09:55 PM
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Re: Pattern Trading
Quote:
Hey Ashish Research is going great! Will post about it on the blog and get feedback as soon as its completed. Rgds CV 
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#108
28th January 2007, 10:43 PM
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Re: Pattern Trading
Triangles are the flavour of today.
Check-out the breakdown from descnding triangle on TVSMOTOR. Other triangle breakouts have taken place in Bank of Baroda, Chennai Petro, Glaxo, Nagarjuna Construction and punj-Lloyd. Best Regards, --Ashish http://tradingtalks.blogspot.com[/quote]
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#109
29th January 2007, 08:04 AM
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Re: Pattern Trading
Hello Ashish,
Thanks for your replies. Quote:
Quote:
Can you please explain? Thanks a lot, Praveen.
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#110
29th January 2007, 08:55 AM
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Re: Pattern Trading
Quote:
Just my two cents: Aren't your risk:reward ratio which you've quoted in the charts are too high. I mean in most of the cases, the risk% is around 10%. Also the reward% too is almost equal to the risk% in most cases. Are you trading with such risk:reward ratios? If so can you please explain your rationale behind trading stocks with such high ratios? (I hope you have posted them for learning purpose.) Meanwhile, from your charts which you've posted, I can see that you are using pivot high/low as your stop loss. Isn't it using pivots as stop loss in case of pattern trading will lead to higher risk%? One of my view is to place the stoploss below the trendline where the price brokeout, and once the prices closes at/below stoploss, we sell it. What's your opinion? Of course each one has their own strategy of placing stop loss. Thanks and regards, Praveen.
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