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| Discuss Model charts showcasing patterns at the Technical Analysis within the Traderji.com - Discussion forum for Stocks Commodities & Forex; Hi All, Here is one more symmetrical triangle. It is both on the weely charts(attached) ... |
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#11
14th December 2005, 01:57 AM
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Re: Model charts showcasing patterns
Hi All,
Here is one more symmetrical triangle. It is both on the weely charts(attached) and daily charts of GUJNRECOKE. BUY with a Trg = 130, SL=110. The 52 week low is 100.8. So not much downside. The triangle is a good example of trend reversal, which happens only 25% of the times. Notice the weekly stochs bellow. Do you see it coming out of the oversold zone? I have noticed that such triangles are formed when there are mixed news about the co. on the streets. Its not a bad idea to check the fundas of the co. before jumping in. Typically, there is a good news for the counter but bad for the sector/market. Or vice versa. Thanks, Mohan 
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#12
14th December 2005, 01:58 AM
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Re: Model charts showcasing patterns
Quote:
As usual, I forgot the attachment.  Check it out.
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#13
14th December 2005, 12:50 PM
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Re: Model charts showcasing patterns
The Classic Bollinger Band squeeze -
The purpose of Bollinger Bands is to provide a relative definition of high and low. By definition prices are high at the upper band and low at the lower band. This definition can aid in rigorous pattern recognition and is useful in comparing price action to the action of indicators to arrive at systematic trading decisions. 3 uses are - 1. Double bottom buy: A double bottom buy signal is given when prices penetrate the lower band and remain above the lower band after a subsequent low forms. Either low can be higher or lower than the other. The important thing is that the second low remains above the lower band. The bullish setup is confirmed when the price moves above the middle band, or simple moving average. 2. Double top sell: A sell signal is given when prices peak above the upper band and a subsequent peak fails to break above the upper band. The bearish setup is confirmed when prices decline below the middle band. 3. The Squeeze: Sharp price changes can occur after the bands have tightened and volatility is low. In this instance, Bollinger Bands do not give any hint as to the future direction of prices. Direction must be determined using other indicators and aspects of technical analysis. Check out the daily SHASUNCHEM charts. Notice the sexy squeeze (pun intended) for 3 days and then a nice breakout on the 9th of Dec. A classic case of the Bollinger Band squeeze. Beauty ! BUY with a SL of 84.3 Thanks, Mohan
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#15
14th December 2005, 05:15 PM
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Re: Model charts showcasing patterns
Quote:
Saint
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#16
14th December 2005, 07:37 PM
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Re: Model charts showcasing patterns
Thanks Roneeth and Saint.
Here is another bollinger band squeeze on SAIL. Went up 7% today before finally settling to 5.78% up.  Check out the attachment. I am making some gains with these squeezes now 
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#17
14th December 2005, 10:09 PM
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Re: Model charts showcasing patterns
Hi Mohan,
Great thread....esp the attachment. Really helps beginners like me. Keep up the great work. Looking forward to many more informational and lucrative post. Regards, Ashish.
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#19
15th December 2005, 01:53 PM
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Re: Model charts showcasing patterns
Quote:
Good find! See its easy, isnt it? Thanks, Mohan
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#20
15th December 2005, 02:09 PM
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Re: Model charts showcasing patterns
Quote:
Would like to see some examples about double bottom buy and double top sell.
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