Chart Science.....

the tape · #**171** 26th September 2008, 03:09 PM

Hi all !

This is again simple technical analysis. lower lows and lower highs this time along with taking cues from the volume.

Right after the opening in essar oil. a swing high (A) is made and a swing low(B) is made. i call them swing highs and lows because the price is not making new highs and lows for the day but, it definitely looks like an attempt to do so.

(A) was the first high made which never got violated.

(B) got violated and that too deeply with above average volumes.

Now the volumes were not great so the price moved in other direction but, could not touch (A) and made another swing high(C).

Then the price went sideways and one more attempt by the bulls. not even able to violate the the recently made high (C) and forget (A) now

Range is formed and Bulls are dead.

Now the low (D) that was made by violating (B) is again violated deeply. Just checkout the volumes. lots of traders entered their.

Would also like to throw light on the continuation rally. Its a one sided 6-7 rs move. So its worth putting so much effort in analyzing every single move. Scientists are in the house

mahesh2007 · #**172** 26th September 2008, 05:20 PM

Quote:

Originally Posted by the tape

Hi all !

This is again simple technical analysis. lower lows and lower highs this time along with taking cues from the volume.

Right after the opening in essar oil. a swing high (A) is made and a swing low(B) is made. i call them swing highs and lows because the price is not making new highs and lows for the day but, it definitely looks like an attempt to do so.

(A) was the first high made which never got violated.

(B) got violated and that too deeply with above average volumes.

Now the volumes were not great so the price moved in other direction but, could not touch (A) and made another swing high(C).

Then the price went sideways and one more attempt by the bulls. not even able to violate the the recently made high (C) and forget (A) now

Range is formed and Bulls are dead.

Now the low (D) that was made by violating (B) is again violated deeply. Just checkout the volumes. lots of traders entered their.

Would also like to throw light on the continuation rally. Its a one sided 6-7 rs move. So its worth putting so much effort in analyzing every single move. Scientists are in the house

one interesting thing specially in second chart of essar oil -
trend is changing with doji's or spinning tops(at pivots) which indicates indecision at that moment.

the tape · #**173** 27th September 2008, 11:23 AM

(A) is the range formed right after opening and big volume action.

(B) is the attempt by the bulls to break on the upside. notice the weak volumes and it failed.

(C) is the bears turn now. notice the deep test of all the swing lows at once with convincing volumes(specially compared to previous attempt B)

the tape · #**174** 29th September 2008, 11:47 AM

In RPL, a size difference can be seen in primary move and following candles. Definitely more to go........

the tape · #**175** 1st October 2008, 07:49 PM

czar, atleast a test of the red line has very high probabilities, follow through is a bit difficult.

Czar · #**176** 1st October 2008, 09:27 PM

I cant imagine this scenario Tape... what is the reasoning for this conclusion ? come on this is an index... not stock, give me something to believe..

the tape · #**177** 2nd October 2008, 09:41 AM

Quote:

Originally Posted by Czar

give me something to believe..

Well ok. the formation that i have marked in arrows has appeared in such a way and at such levels that it will attract the price. now if you ask me a why on that, i don't know it myself.

Plus you don't have to believe anything, like i always say, its just another view. you can ignore it.

the tape · #**178** 2nd October 2008, 10:52 AM

Hi all !

When i started this thread, i posted some of the early stuff that i began to recognize. now its been a couple of months and most of that stuff is out. i am watching the market everyday for hours and have understood the importance of behavioral analysis, which i believe is much more reliable than the traditional technical analysis therefore much more difficult to understand. Not talking about trading here, just the art of seeing...

I Hope this little material will be able to catch attention of the open minded ones but, unfortunately i can't continue as the latest material is far more advanced ( on the basis of behavior reading only and not TA) than the previous and i don't think it would be appropriate to post it since the old material was not understood by the members.

I do not mean to challenge anyone or anyway of analyzing and i totally respect each and everyone here. That is why i am calling it the art of seeing, no brains envolved !

Thanks to everyone for their interest and the knowledge they provided me. Keeping it up with the pace would be difficult for me if i keep observing and posting what i don't trade now....

the tape · #**179** Yesterday, 12:59 PM

Quote:

Originally Posted by the tape

czar, atleast a test of the red line has very high probabilities, follow through is a bit difficult.

A target of 800 pts achieved on nasdaq in less than 2 months

piece of cake

Czar · #**180** Yesterday, 02:19 PM

Always the Boss, Pied Piper

The Following 2 Users Say Thank You to the tape For This Useful Post:
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