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#1
1st May 2007, 11:21 PM
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KISS like McGrath
Glen McGrath ..... In Game of cricket which sees usage of highly technical, scientific?, & ultra modern techniques , Glen McGrath stands out for his exploits by following & sticking to the basics. Nobody believed him when he revealed his secret of success i.e. thruout his carrier he only aimed to bowl at / around the off stump & knock it off. Period.
A remarkable example of KISS (Keep it simple stupid). Stock markets are no different. In the complex world of technical analysis, there must be some simple methods to make money. Hence this new thread: I look for patterns / wolfe wave / gartleys based on only price action and will post here when I spot one...... and track the results Post here trading opputunity based on simple analysis (Basic price action / pattern formation / oscillator divergence, crossover / trendline etc etc). Only one criteria here ..... (KISSES) Keep it simple stupid er sir. Ajax 
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#2
2nd May 2007, 08:48 AM
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Re: KISS like McGrath
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hi ajax, wonderful thread my friend. I too will work hard to post the related patterns in your post. But we need to be careful that we are not forcing the patterns and special care must be taken while employing wolfe waves. If more people could take pain and find the above patterns, post here, then we all could benefit by KISS. Regards, Winston 
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#3
2nd May 2007, 01:09 PM
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Re: KISS like McGrath
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Regards, Kalyan.
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#5
3rd May 2007, 12:13 AM
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Re: KISS like McGrath
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Was there a valid wolfe wave (in the chart posted by you) begining from August end and completing point no. 6 on December beginging? More importantly do you see any wolfe wave now? Regards R. S. Iyer
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#6
3rd May 2007, 08:55 PM
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Re: KISS like McGrath
Dear rsi , winstonn & other wolves
Lets attempt to study bull bear action in Satyam hourly... Down load the attached Satyam chart and read on side by side Blue letters denote swing points. Smaller yellow numbers are Wolfe numberings I have used Slow stochastics to show over bought/sold conditions 1.. Bulls push the price to point 1 2.. Bears pull it down to point 2 3.. Bulls 'laborously' pull back the price to point 3 (But not above 1) 4.. Bears agains hammer down the price to 4 (Below point 2) 5.. Bulls 'again struggle' but can push price to only 5 (Below 3) 6. Bears again pull it down to 6 In this battle between bulls & bears -- wolves make an appearance From point 6 onwards there appears to be Wolfe formation marked ( 1 2 3 4 5 in smaller yellow letters) At point 10 (small yellow 5 ) Satyam is extremely oversold (red arrow) and..... Bulls are back with vengence ( ~ around Infy results day)..... And push the price upto point A ( now over bought - ) Concerns of appreciating rupee brings it to B.... This confusion between 'expected bright future performance' and 'Rs vs $ rate appreciation' has resulted in Sym triangle formation. Break out in either direction will confirms which view wins. whats your take regards Ajax PS : Dear RSI - no wolfe pattern in traingle area..Do I smell some greed on ur part??
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#7
4th May 2007, 12:00 AM
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Re: KISS like McGrath
Hi Ajax,
nice work! As you are viewing hourly trend as lower time frame, the daily is in upward to sideways trend. So any shorting on hourly time frame would not be advisable. Also see the second chart in which the pattern has formed. So, in conclusion if there is a Breakout with expectionally huge volumes on hourly chart on upside, i would enter on break of ross hook. But if the breakout is on downside , i would wait for further confirmations as the main trend is not downward. Regards, Winston 
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#8
4th May 2007, 03:55 PM
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Re: KISS like McGrath
Hi Ajax and Winston,
Nice and logical explanation. Thanks a lot for that. Somehow, wolfe wave does not go out of my head. As the gentleman in Bajaj Auto thread, it seems, I am also seeing wolfe waves every where (many times at wrong places). Trying to identify that pattern correctly. No fear, no greed, as I do not have any position in Satyam either long or short. Regards R. S. Iyer
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