Pattern Trading

kkseal · #**361** 30th April 2007, 01:42 AM

Quote:

Originally Posted by Ajax

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

Excellent observation Ajax.

This lower timeframe - higher timeframe thing is really getting interesting.

Ajax, can you post the last 10-12 days hourly chart (with the volume bars) for TechMahindra please .

Thanks in advance.

Regards,
Kalyan.

Ajax · #**362** 30th April 2007, 09:01 PM

Hi kkseal
There was sharp upmove today.
I had noted a triangle and got in after breakout & pullback
Today there was sharp up move

Pl keep posted of ur own view on TechMeh

Ajax

kkseal · #**363** 1st May 2007, 03:14 PM

Dear Ajax,

Your hrly charts of GEShipp & TechM were enlightening (I use iCharts for i/day charts but was having some problem logging in). Thanks.

You're doing great man! Catching them all with surgical precision

Congrats!!
(Perhaps this is due to the fact that you're using the right tactic - that too intuitively Great Keep it up.)

The trigger for IT stks came in the form of a slide in the rupee - but the outperforming manner in which TechM has responded to this little trigger shows its inherent strength.

However imo there's resistance around 1700 & 1800 lvls (+ 1-2% maybe). Also that move on the hourly seems too steep for sustainance. So expect some pullback on Thursday.

Fundamentally it's a fine co. Apart from the rising Re (which is a sectoral threat) the only little drawback i see is in the relatively smaller client base. On the other hand, it's relationship with its main client BT is so strong it's almost an implicit JV. Being cash rich with a fine mgmt it also has the capability to scale up quickly as & when the need or opportunity arises.

You're on a winning spree Enjoy!

Regards,
Kalyan.

Ajax · #**364** 1st May 2007, 10:07 PM

Hi kkseal

A picture is worth a thousand words. How true???

I didnot know there was so much info hidden in chart pattern of TechM
before your post .
I spotted TechM chart pattern , sensed an oppurtunity, jumped in.

I firmly believe in KISS strategy ( Keep it simple stupid er sir)
No fundas, no oscillators, no open interest, nothing but Price action.
Not even targets.
See a favourable trade, get in , no upside targets for me. Only
manage the down sides (Stop losses- trail them).

Its bit like Glen McGrath. (He just concentrated @/about off stump thru out
his carrier ~15 yrs) . See the results he achieved. And no body believed him.

Regards

Ajax

anilbalaji11 · #**365** 1st May 2007, 11:19 PM

can u teach me day trading? i am willing to pay

J_D · #**366** 3rd May 2007, 09:05 AM

Hello,

The charts for these scripts appear to be the following:

Tata Teleservices -- Rounding Bottom breakout

Mercator Line -- Cup and Handle

Seniors pls comment..

John..

aca_trader · #**367** 4th May 2007, 12:48 PM

Quote:

Originally Posted by anilbalaji11

can u teach me day trading? i am willing to pay

Hi Anil!

Where do you stay?

Best Regards,
--Ashish

sunny_shares · #**368** 4th May 2007, 01:25 PM

even im new to this day trading, so can anyone help me frnds...

Luckytrader · #**369** 9th May 2007, 07:00 PM

Hi Ashish,

How are you?

Missed your patterns.....

Your blog has not been updated after 10th April..

Regards,
Luckytrader

aca_trader · #**370** 10th May 2007, 08:13 PM

Quote:

Originally Posted by Luckytrader

Hi Ashish,

How are you?

Missed your patterns.....

Your blog has not been updated after 10th April..

Regards,
Luckytrader

Hi!

I ve been been moving to a few new areas and hence have not been able to track the markets. If everything goes as planned, in a couple of months' time much more information would be provided to the breatherns of the community.

Please bear with the absence till that time.

Best Regards,
--Ashish

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