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| Discuss Pattern Trading at the Technical Analysis within the Traderji.com - Discussion forum for Stocks Commodities & Forex; Originally Posted by swagat86 http://www.************/network/searc...ntion=&start=0 All the three books are the same. Check them Thanks ... |
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#81
21st January 2007, 12:17 PM
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Re: Pattern Trading
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Praveen. 
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#83
21st January 2007, 05:40 PM
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Re: Pattern Trading
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First of al, thanks for your kind words. I am a learner like all others and just trying to share and learn from each other in the process. I do not think that I can confirm anything better than you but IMHO, the price on Sensex is moving in a channel and it's not an ascending triangle, When drawing the ascedning triangle, we are ignoring some of the pivots and hence even if the pattern is identified as Ascending Triangle, the large white area may negate the post-breakout results. Renu, I hope this carifies my views on ascending triangle on NIFTY also. Best Regards, --Ashish http://tradingtalks.blogspot.com
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#84
21st January 2007, 06:13 PM
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Re: Pattern Trading
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I had drawn those lines just to demonstrate that even if the formation appears to be a flag, the volume behaviour is not conforming. However, in the process, I overlooked the original flag being formed. Thanks for bringing it to attention. Best Regards, --Ashish http://tradingtalks.blogspot.com
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#85
21st January 2007, 07:03 PM
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Re: Pattern Trading
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I would be glad if you can go through those 7-some charts posted by me, and give your comments. Thanks, Praveen.
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#86
21st January 2007, 07:10 PM
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Re: Pattern Trading
Quote:
Please have a look on chart. In SAIL & KEC, we should wait for pivots to be formed to check later on. BankBaroda, BankIndia, BEML, ACC, KEC, SAIL I do agree with the patterns. Tatasteel, IMHO is an ascending triangle. TATASTEEL chart is enclosed herewith. Best Regards, --Ashish http://tradingtalks.blogspot.com Last edited by aca_trader; 21st January 2007 at 07:35 PM.
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#87
21st January 2007, 07:33 PM
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Re: Pattern Trading
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Meanwhile after ref. Radico on your blog, I've some issues on the same: 1. Do we first of all consider this stock? -- Very low volume coupled with lots of noise due to the first reason. 2. I feel we are trying to force the ascending triangle to be plotted on the chart. -- Look at the second pivot high in the ascending triangle. Praveen.
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#88
21st January 2007, 07:46 PM
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Re: Pattern Trading
Quote:
Well, I am not trying to force the ascending triangle. For me, a supply or demand line is one around which most of the price action is concerned. If it differs from the exact high or low, IMHO, we may take it as a deviation. Further, the pivot bars of 28/11/06 and 23/12/06 may be the results of freak trades as is evident by the Open/Close positions on the chart. Best Regards, --Ashish
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#89
22nd January 2007, 07:46 PM
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Re: Pattern Trading
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even i ahve looked today at tisco chart,,,its forming ascending triangle,,,and tgr looking worth...if crosses 490 then only we can look ,,to 555... anyone comment on that.. renu daga
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#90
23rd January 2007, 05:41 PM
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Re: Pattern Trading
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Thanks for your explanation. Learnt a couple of key points from your reply. Thanks once again, Praveen.
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