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breakout

Discuss breakout at the Technical Analysis within the Traderji.com - Discussion forum for Stocks Commodities & Forex; Phenoix, Satya, Avinash Thanks for the kind words. It is really gratifying to know my ...


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  #81  
Old 8th September 2005, 04:13 PM
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Default Re: breakout

Phenoix, Satya, Avinash

Thanks for the kind words. It is really gratifying to know my posts have been useful.

Best regards

karthik
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  #82  
Old 8th September 2005, 08:08 PM
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Default Re: breakout

Quote:
Originally Posted by AMITBE
It is believed by some technical analysts that a successful breakout occurs in three phases.
It begins when price breaks through resistance on increased volume. This is called the Action Phase. Price increases by a few points, and then reverses as soon as buying interest fades.
From here begins the Reaction Phase. The market will sell off, and propagate the first pullback, where fresh buyers see a chance to get in close to the breakout price. If everything goes well, a second rally kicks in and raises the price above the initial breakout high.
This marks the Resolution Phase where the price creates new highs.
For the three phases of a breakout to succeed, much depends on certain volume action:
Demand must exceed supply during the initial breakout. Volume should drop sharply during the pullback of the Reaction Phase. And finally, fresh buyers should come in to successfully trigger the Resolution Phase.

A false breakouts occurs when these forces fall out of balance.
Hi

After all the knowledge we have gained about BREAKOUT, It would be quite interesting to monitor some the recent breakout candidates and see it they turnout to real breakout or false breakouts. We will see in which phase of breakout these stock are presently.

1. Ajantha Pharma. It broke through the resistance of 98 with a volume 0f 300K (not really Impressive) on the 1st and closed at 104.8 next day. Then the Reaction phase started . The stock has dropped to 99.9. Volume has also dropped. It will be interesting to see whether it will drop through the support of 98 or it will go to the resolution phase.

2. Mahindra Ugine – Shotup nicely from 105 to 126 in two session breaking the earlier resistance of 120. Then reacted now at 119. False Breakout?...not yet..I think so...

3. KCP – Still in Action phase. Dropped a tad in between , don’t know if we can consider it as a reaction.

4.IVP – broke through the resistance 0f 66. But since then it dropped trough the support of 66. False breakout ??.... Looks like one...

5. Eicher – Gapped up nicely from 110 to 124. In the reaction phase. Let us see if it takes the historical support at 121

It would be interesting to see how theory relates to practice. I will try to post more/Better examples later. Your comments please..

Best regards

karthik
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  #83  
Old 8th September 2005, 08:17 PM
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Default Re: breakout

Can Someone Explain Me What Is Meta Stock....... I Am New For This Forum...... I Am Trading For Many Years......... I Am Making Loooooooooooossssss Only.........
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  #84  
Old 8th September 2005, 08:45 PM
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Default Re: breakout

is there any free program for Elliott analysis ?

Quote:
Originally Posted by karthikmarar
Yes it is free. However some features do not work mainly the data plug-ins, like you cannot use metastock data. However you have register the software and they will e-mail the activation code.

karthik
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  #85  
Old 8th September 2005, 09:59 PM
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Default Re: breakout

Quote:
Originally Posted by karthikmarar
Yes it is free. However some features do not work mainly the data plug-ins, like you cannot use metastock data. However you have register the software and they will e-mail the activation code.

karthik
Hi! Kartik have you used that limited version & how are its features?.
Do you find it better than Metastock?

4candles
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  #86  
Old 8th September 2005, 10:11 PM
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Default Re: breakout

Quote:
Originally Posted by 4candles
Hi! Kartik have you used that limited version & how are its features?.
Do you find it better than Metastock?

4candles
Hi murali

I downloaded the limited version. When approached them for some doubts regarding using metastock data they gave me the full version for trial for a month.

Unfortunately my knowledge of Elliot theory is limited and so could not fully utlize or understand the software. TA is more like a hobby for me and I feel comfortable only when I understand what Iam doing and why i am doing. I am very comfortable with Metastock. Ofcourse it is a very subjective view.

regards

karthik
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  #87  
Old 8th September 2005, 10:34 PM
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Default Re: breakout

Quote:
Originally Posted by market_looser
Can Someone Explain Me What Is Meta Stock....... I Am New For This Forum...... I Am Trading For Many Years......... I Am Making Loooooooooooossssss Only.........
Metastock is a fairly advanced charting software and you will be able to get more info if you look under the software section of this forum.

Good luck.

Nautilus
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  #88  
Old 8th September 2005, 10:42 PM
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Default Re: breakout

Quote:
Originally Posted by karthikmarar
Hi murali

I downloaded the limited version. When approached them for some doubts regarding using metastock data they gave me the full version for trial for a month.

Unfortunately my knowledge of Elliot theory is limited and so could not fully utlize or understand the software. TA is more like a hobby for me and I feel comfortable only when I understand what Iam doing and why i am doing. I am very comfortable with Metastock. Ofcourse it is a very subjective view.

regards

karthik
Thanks Kartik for your opinion about the S/W & even i hardly know anything ElliotWave Theory.

And yeah TA is a hobby & to add, it is an ocean aswell, no matter how much we add to it, thou it looks full from the surface yet it yearns to take a lot more from every source. This will never end. And i/we do the same here.

Thanks to Traderji
regards,
Murali
(4candles)
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  #89  
Old 9th September 2005, 12:01 AM
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Default Re: breakout

Quote:
Originally Posted by market_looser
Can Someone Explain Me What Is Meta Stock....... I Am New For This Forum...... I Am Trading For Many Years......... I Am Making Loooooooooooossssss Only.........
Sorry about your lossesses, but i think you can still make it. Recollect your mistakes & avoid making thoses, trade less & take less exposure in your select stock untill you gain confidence.

About Metastock, you can know more about it at their website. Link:- http://www.equis.com/Default.aspx

Good Luck
4candles
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  #90  
Old 11th September 2005, 07:20 AM
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Default Re: breakout

do you think we can have a practical course on applying Elliot theory here?
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