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| Discuss Pattern Trading at the Technical Analysis within the Traderji.com - Discussion forum for Stocks Commodities & Forex; Hi, What Type of Triangle ? Price Implication plz. Asish... |
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#342
17th April 2007, 01:07 PM
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Re: Pattern Trading
Hi Ashish,
Would like to know your comments on GESHIPPING looking good to me. Awaiting your reply. Cheers 
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#343
17th April 2007, 09:19 PM
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Re: Pattern Trading
Quote:
GE Shipping had a failed descending triangle. The pattern has achieved its target today. If you want to enter the stock, waiting for a pivot can be a good option. Today it presented such an opportunity. Alternatively, plot a 4 day moving average on the chart and if the low of any bar touches the moving average line and bounce backs to close above the low you can buy high of that bar to gain a favourable entry in the stock. Best Regards, --Ashish
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#344
17th April 2007, 09:22 PM
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Re: Pattern Trading
Quote:
As the price is making pivots on the upper side at almost the same level, I am more inclined to consider it an Ascending Triangle. The breakout has yet to take place, IMHO. Lets wait for the breakout. Best Regards, --Ashish
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#346
17th April 2007, 11:05 PM
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Re: Pattern Trading
Hi all
An object means different thing to different people. GS ship case in point I spotted H & S pattern in GE SHip hourly chart. and got in after piercing of neckline and first draw back. After target achieved my position is open with trailing stop loss. see chart Ashish spotted failed descending triangle in GE ship & acts accordingly In fact in the daily chart I see Wolfe wave pattern (current hot pattern) with target just met today. Interesting , is it not!!!!! regards Ajax Last edited by Ajax; 22nd October 2008 at 10:55 PM.
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#347
18th April 2007, 09:24 AM
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Re: Pattern Trading
Quote:
Congratulations on the nice catch! I have not studied Wolfe Wave so far but as is appearing from the charts attached by esteemed members, it appears to be using the diagonal of triangles, channels and diamonds (Tata Steel) to project the profit targets. Looks interesting and I am planning to start studying it. Best Regards, --Ashish
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#348
18th April 2007, 09:24 AM
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Re: Pattern Trading
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#349
18th April 2007, 09:37 AM
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Re: Pattern Trading
Quote:
I may sound thetrical stating "All Religions leads to the Almighty".See now how will the "Disbeliver of Pattern Trading" negate this ? The basic reason why these "TA Disbeliver" chant on is becoz they can't code these "Patterns" as Signals & do Backtesting,hence they outrightly denounce this Viatal branch of TA.Same thing for Elliot Wave . Asish
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#350
18th April 2007, 09:40 AM
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Re: Pattern Trading
Quote:
WOW My God ,Congratulation
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