Pattern Trading

swagat86 · #71 21st January 2007, 12:10 AM

Quote:

Originally Posted by aca_trader

I have used John Murphy's pattern recognition pulg-in for metastock. But, it's very poor in identifying the patterns.

I have downloaded Patternz of Thomas Bulkowski but this program generates error and hence I have not been able to use it so far.

Best Regards,
--Ashish

HI Ashish thanx for all the explanations. Still im curious abt somethin. pls hav a look at the chart along with this. I find it is matching wat u explained above. For SWs relatin pattern recognition try Pattern Smasher. hav heard its one of the best. imalso inclusidng a few AFL's here for pattern recognition.

THAnx

kkseal · #72 21st January 2007, 03:08 AM

Quote:

Originally Posted by aca_trader

Hi Dhana!
You are right about the symmetrical triangle target. But this is usually the minimum and not maximum target.
The stock is trending finely, has earlier given positive signals on a number of indicators, the trendline is intact & it has crossed 6-month long resistence line; hence one can still enter the stock with good MM principles. As the previous pivotal high was at 166, you can enter the stock at 167 with SL at 160.

The only point of concern is that RSI is in Overbought Zone but in a bull run the stock may remain in OB zone for long periods of time.

Best Regards,
--Ashish

Beautiful Analysis

As cogent & clear as can be.

The chart also look goods to me. The trend is smooth ...the brkout from the brief consolidation has been on good volumes. Even if it pulls back the top boundary of the triangle will act as a support & it's unlikely to break 160 (unless off course the mkts start tanking!).

As for RComm if it's a Flag then a downside brk is more likely (maybe some inside news of them loosing the Hutch bid!).

A wonderful thread started by Ashish. Learning from it.

It's a pity though we don't have a reliable s/w that can scan for those patterns.

Regards,
Kalyan.

kkseal · #73 21st January 2007, 03:33 AM

Quote:

Originally Posted by kkseal

Consolidation on the top boundary, extending to the apex, adding credence to the Sensex ascending triangle.

Hi Friends,

Please disregard this crap i had posted earlier (if you had paid any attention to it in the first place - which i hope you didn't). There's no ascending triangle Made the fundamental error of projecting the boundaries too far (blame my stupidity & inexperience for it).

There was an ascending triangle in formation earlier that failed presumably due to the Gartley formation within. We subsequently went down to 13300 lvls & have since managed to push up above the lvls of the former triangle's upper boundary.

But the fact of the matter is the triangle is no longer valid & no new triangle has formed. What we do have now is an upward channel that, if we were to move up from here, would offer resistance at around 14500 lvl & support around 13600 lvl.

However all this can be better confirmed by Ashish.

I sincerely apologise if i have caused any inconvenience to anyone through my mistake.

Regards,
Klayan.

dhanasubbu · #74 21st January 2007, 08:35 AM

Hi Ashish,

Thank you very much for the guidance.

Regards
Dhana

bvpraveen · #75 21st January 2007, 10:57 AM

Quote:

Originally Posted by swagat86

pls hav a look at the chart along with this. I find it is matching wat u explained above.

Swagat and Ashish,
I would like to share my views on RCOM which you two were discussing:
1. I think the way you two have drawn flag portion is wrong. The flag should start from the pivot low/high. But you have drawn them by ignoring those black and white candle (plz refer to the attached chart).
2. During the formation of the flag, the volume initially drops and then increases. So as Ashish had told, I too believe its not flag.(plz refer to the attached chart).

Quote:

For SWs relatin pattern recognition try Pattern Smasher. hav heard its one of the best. imalso inclusidng a few AFL's here for pattern recognition.

Have you tried them - software and those AFL's?

Any comments are welcome,
Praveen.

bvpraveen · #76 21st January 2007, 11:02 AM

Hello all,

I've attached some charts with my views. The charts are self explanatory.
Any comments are welcome.

Regards,
Praveen.

bvpraveen · #77 21st January 2007, 11:59 AM

Hi all,

Here are some more charts. Please share your views.

Thanks,
Praveen.

swagat86 · #78 21st January 2007, 12:02 PM

Quote:

Originally Posted by bvpraveen

Swagat and Ashish,
I would like to share my views on RCOM which you two were discussing:
1. I think the way you two have drawn flag portion is wrong. The flag should start from the pivot low/high. But you have drawn them by ignoring those black and white candle (plz refer to the attached chart).
2. During the formation of the flag, the volume initially drops and then increases. So as Ashish had told, I too believe its not flag.(plz refer to the attached chart).

Have you tried them - software and those AFL's?

Any comments are welcome,
Praveen.

Sure Praveen, i hav very less idea of pattern trading. and iv just started learning a few of them. Pls ignore my mistakes. yes i was lookin at the chart ysterday night and found that iv drawn the line on just one candle which is naive. I accept my mistake.

And regarding the SW no i cudnt get it or its Demo, becs the company's site is under construction. Cudnt get it anywhere. Yes iv tried the AFL's. Actualy RCOM was picked by the AFL for the flags and pennants.
Although there is something interesting in the Rcom chart besides Flags etc. If we draw a Fib retracement from high of 492.45 to low of 403(the pivots) ul find that its just touched the 50% retracement. This is called ABCD pattern using Fibs. TARGET 380 and 350 (possibly). Also its formed Dark Cloud Cover las t two bars. Thats again Confirmatory.

RCOM's weigtage on Sensex is 3.06. Can pull it down.

Thanks

bvpraveen · #79 21st January 2007, 12:05 PM

Quote:

Originally Posted by swagat86

If we draw a Fib retracement from high of 492.45 to low of 403(the pivots) ul find that its just touched the 50% retracement. This is called ABCD pattern using Fibs. TARGET 380 and 350 (possibly). Also its formed Dark Cloud Cover las t two bars. Thats again Confirmatory.

I don't know much about Fib. retracements. Got to learn them. So can't comment on this, Swagat.

Thanks,
Praveen.

swagat86 · #80 21st January 2007, 12:10 PM

http://www.************/network/searc...ntion=&start=0

All the three books are the same. Check them

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