Pattern Trading

bvpraveen · #**191** 8th February 2007, 11:20 PM

Hello all,

Couple of nice breakouts. Any views are welcome.

Regards,
Praveen.

rajekc · #**192** 8th February 2007, 11:23 PM

Hi Ashish,

Cummins India has given breakout today, looks like cup and handle on weekly chart, what will be entry and target. I am starter in pattern trading please comment.

Regards
Raj

aca_trader · #**193** 9th February 2007, 08:47 AM

The patterns for today are:
Cummins - Ascending Triangle
Ind Swift Lab - Rounding Bottom
Hind Motor- Trendline
TNPL, SEAMEC Ltd., ITI - Triangle

Please check out the charts.

Enjoy Trading!
--Ashish
http://tradingtalks.blogspot.com

aca_trader · #**194** 9th February 2007, 09:03 AM

Quote:

Originally Posted by rajekc

Hi Ashish,

Cummins India has given breakout today, looks like cup and handle on weekly chart, what will be entry and target. I am starter in pattern trading please comment.

Regards
Raj

Hi Raj!

Cummins has given the Breakout which to my mind formed an Ascending Triangle. The entry and Exit along with charts have been marked in another post.

While looking out for a Cup & Handle Pattern, it's better to look for U-shaped and not V-Shaped pattern. Check out the Ind Swift Lab Chart.

Best Regards,
--Ashish
http://tradingtalks.blogspot.com

aca_trader · #**195** 9th February 2007, 09:08 AM

Quote:

Originally Posted by game4trade

Hi Ashish,

First of all many thanks for starting such a good thread and sharing your work with all of us. I am learning a lot from your charts and a regular visitor of your blog.

Can you share your comments on JETAIRWAYS.

Regards,
Ashish.

Hi Ashish!

Thanks a lot for your words of appreciation. I am just following the traditon of the forum.

JETAIRWAYS made a good Cup & Handle and brokeout. Now facing resistence at 800 Level. Let it cross 800 and then we will analyze further.

Best Regards,
--Ashish
http://tradingtalks.blogspot.com

aca_trader · #**196** 9th February 2007, 09:13 AM

Quote:

Originally Posted by bvpraveen

I'm sorry Ashish. Couldn't get what you are telling. When did it achieve its target? Yesterday?

Praveen.

Hi Praveen!

In Infosys, the range of rectangle was Rs. 133. Hence, the traget after BO at 2260 was around Rs. 2390. The Big Bar on 07/02 made a high of Rs. 2370 leaving little scope for pattern based trading though the move may take it to much higher levels. That is why the comment was made. In absolute terms, the target is yet a few rupees away but the risk:reward is highly unfourable.

Best Regards,
--Ashish
http://tradingtalks.blogspot.com

bvpraveen · #**197** 9th February 2007, 11:23 AM

Quote:

Originally Posted by aca_trader

Hi Praveen!

In Infosys, the range of rectangle was Rs. 133. Hence, the traget after BO at 2260 was around Rs. 2390. The Big Bar on 07/02 made a high of Rs. 2370 leaving little scope for pattern based trading though the move may take it to much higher levels. That is why the comment was made. In absolute terms, the target is yet a few rupees away but the risk:reward is highly unfourable.

Best Regards,
--Ashish
http://tradingtalks.blogspot.com

Hi Ashish,

I too was trying to tell the same thing in my previous post. Anyway thanks for the clarification.

Praveen.

kkseal · #**198** 9th February 2007, 02:05 PM

Quote:

Originally Posted by bvpraveen

Hello Kalyan,

Thanks for your information. As I'd said in my previous post, I don't know much about fibonacci. At present I'm learning patterns in depth. Should I need to learn fibonacci now? How much important are they?

Thanks,
Praveen.

Learning has no end my friend - just when you think you've learned everything there is to learn you'll find that you've only managed to scratch the surface. [Like my current obsession with data transformations which is one way (& only one of the basic ways) Neural nets work].

You can stick to P/V based S/R lvls for the time but Fib extensions is my preffered method (apart from perhaps pattern tgts) to gauge the next S/R lvl for a stk when it is in uncharted territory (i.e. after a new all-time High or Low). Confluences help in marking out the high-probability (but not certainty) zones.

And it's not all that difficult to master - just about learning a few ratios (for retracements & extensions) and most of the work is done by the s/w (Even iCharts now has a Fib calculator You can figure out the cluster zones by noting down the figs it returns for the high-low swing pivots).

Regards,
Kalyan.

bvpraveen · #**199** 9th February 2007, 02:51 PM

Quote:

Originally Posted by kkseal

Learning has no end my friend - just when you think you've learned everything there is to learn you'll find that you've only managed to scratch the surface. [Like my current obsession with data transformations which is one way (& only one of the basic ways) Neural nets work].

You can stick to P/V based S/R lvls for the time but Fib extensions is my preffered method (apart from perhaps pattern tgts) to gauge the next S/R lvl for a stk when it is in uncharted territory (i.e. after a new all-time High or Low). Confluences help in marking out the high-probability (but not certainty) zones.

And it's not all that difficult to master - just about learning a few ratios (for retracements & extensions) and most of the work is done by the s/w (Even iCharts now has a Fib calculator You can figure out the cluster zones by noting down the figs it returns for the high-low swing pivots).

Regards,
Kalyan.

Thanks Kalyan.

I will concentrate on P/V behavior along with patterns for time being. Will look into fibonacci some time later.

Of course softwares does the major part. I will be totally lost without a charting software.

Meanwhile I will check out the fib. calculator in iCharts.

Thanks,
Praveen.

yeomanly · #**200** 9th February 2007, 04:47 PM

Hello Friends,

Do you find any pattern in these stocks,

Gupta synthetics
Gujarat alkalies

The stock price is in its 52 week low.

Sudharsan

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