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#53
19th May 2008, 07:50 PM
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Re: chart science.....
Quote:
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#55
19th May 2008, 08:11 PM
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Re: chart science.....
Nothing to b sorry sir.Opinions can differ.
But i think to qualify something as science,it has to be objective first,which is abscent here.
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#56
19th May 2008, 09:32 PM
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Re: chart science.....
First things, I belong to the cult who believes "there are no good systems or bad systems, there are just less noisy and more noisy price series".
I see a pattern common in his charts... a very good one for finding levels... volatility compression, small moves in the wrong direction (what is shown by wicks in candles or pipes), then the real move. The level of noise(wicks etc.) indicates the direction of real move as it shall occur. Obviously the noise which is undetectable will be caught as wrong signals (loss). Each stock has different behavior, found it good for somewhat thinly traded stocks, I did'nt find it to work for index futures (say NF). The pattern can definitely be coded, but wonder who will be willing to share the code...and why that person shall do so.
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#57
21st May 2008, 09:40 AM
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Re: chart science.....
In essar oil,
Stock entered a downtrend and gave two very justifying hammers ( witch itself is a bottoming out signal ) Then there's a NEAR pipe bottom and the reaction after the pipe is supportive : volumes are thin and sizes are small too suggesting that the bears are losing charge. http://img180.imageshack.us/my.php?i...ssaroiljf0.png Last edited by the tape; 16th June 2008 at 11:50 PM.
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#58
21st May 2008, 10:11 AM
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Re: chart science.....
Intraday chart of nifty : 10th oct
Nifty forms a symmetrical triangle in 5 min chart. which without a doubt attracts a lot of attention. which also means, that the probabilities of a false breakout are much higher than that of a succesfull breakout. But, whats noticable is: the volume on that breakout bar is even lower than the average volume on nifty on the same day PLUS The breakout candle is a perfect looking one ( complete filled body ) That suggests, most of the traders trading nifty at that time support upside ( The volume is small because no one is selling at that breakout ) Though, nifty came down to take out the stops, But, finally closed at the highest point of the day. The breakouts that are less louder, less volatile and less resisted are usually long lasting. http://img223.imageshack.us/my.php?image=wed4mo4.png
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| The Following User Says Thank You to the tape For This Useful Post: | ||
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#59
24th May 2008, 04:34 PM
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Re: chart science.....
Its a nice pipe top on icici bank on friday.
It is also a good example of thrust and consolidation............ http://img529.imageshack.us/my.php?i...7031674cg5.png
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#60
27th May 2008, 08:53 PM
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Re: chart science.....
This was a perfect pipe top in lanco infra today.
Just see the size of those pipes compared to surrounding babies. http://img367.imageshack.us/my.php?image=litlfh9.png
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