Chart Science.....

the tape · #71 16th June 2008, 12:53 AM

hi there........you see..........until the 8th candle in unitech............there was a rhythm in the volume..........there was a consistent no of volumes traded until the 8th candle..........but.........after the 8th candle..........the volume muted.......quite visible...........and the action happened in those 8 candles is bull action...........bulls in control

If you look closely...........after the 8th candle............the sizes of the candles also shrunk for a bit.........(retail trades) i guess !!!!!!!!!!!

8th candle can be called climax candle for that action..........and that is green.

Then the action began again in candles 18 to 22..........outstanding volumes again.

The climax candle is 22...........closed at the extreme top..............volumes out again

so,

The climax of the real action was bullish (green) both the times. plus........its a visible uptrend.

The result in the next post..........

the tape · #72 16th June 2008, 12:59 AM

what a breakout ??

if you can recognize that stuff...........good for u

the tape · #73 16th June 2008, 05:41 PM

Today,

Bulls had completely lost their interest in bombay dyeing, volumes got thin and the price gave an amazing pipe top WHILE APPROACHING A NEW HIGH.

It was the reversal point and a short would have been initiated after the next few bar consolidation. stop is marked as A.

This setup is a high probability one........

uasish · #74 16th June 2008, 09:18 PM

Good effort ,actually seen this today,cheers plz continue your effort.

the tape · #75 17th June 2008, 04:18 PM

Hi guys,

Today was a good day, everything went up ! the good thing is that the entries taken with very tight stop losses also work wonders on days like this.

DLF gave a fantastic trade today:

1. After the morning huge bull action, mainly dominated by 2nd candle, the volumes gave a climax............bullish.........at the 12th candle..........

2. After the climax, price started to inch upwards with hardly any volumes(retail). that is called "ease of move"

3. The stop loss for a long is extremely small(S). you are hardly putting anything on the table.

Again

there was another entry as the price was in uptrend, so it was favorable, with a stop of course(S).............

Guess what !!!!!!!!!!

Both the stops never got triggered.........

Traderji · #76 17th June 2008, 04:35 PM

Very informative thread. Beginners and intra-day traders can learn a lot from these charts with your comments.

Keep it up!

the tape · #77 17th June 2008, 10:22 PM

thanks traderji and uasish................

the tape · #78 17th June 2008, 10:26 PM

TRADING THOUGHTS.............

Hey people,

There is this one thing I have noticed in past several months. So I thought, I should share the same with you

Everyone who is trading Indian stocks would have noticed cairn in past few days, reason being its performance against the bear market. Everyday the market was hammered down and cairn was giving big percentage up moves…………

For past few sessions, market is going up and cairn is doing the opposite………..

Fundamental reasons made it go up, crude price, I don’t understand them completely though……..

The point is, if you are a day trader always keep these “odd ones out” in your watch list even if you don’t trade them because these stocks have the tendency to tell you the whole market trend. For past few sessions, whenever the market gave an up move, cairn was the first thing that moved in the morning continuously breaking its lows. Understanding this behavior can give you an edge. After all humans are creatures of habit, and humans are trading these markets.

I have noticed this before when the IT used to trend down. On days when the market used to break down big time IT used to outperform.

You can watch these very recent charts of nifty and cairn compared on same days, when nifty moved up and cairn exactly opposite.

ON 12.06.08…………..

TODAY………..

sunbim31 · #79 17th June 2008, 10:41 PM

Hello

Please be kind enough to enlighten us on the SW "Unicon Swift" (made by Cognizance) RT data speed, their brokerage structure , back office service, tech indicators & scans available.Overall how is your experience on using this.
Regards

Sunando

the tape · #80 17th June 2008, 11:13 PM

Hi sunbin31,

The data speed is fine................brok i m paying .02 intraday...................lots of indicators.............no scans................i m using it for 2 years and pretty satisfied............for me the custom timeframe settings it provides is the best part........

Nifty giving multiple hammers...............may be it is the bottom....