Do you see what I see?

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babukraman

Well-Known Member
#1
#1
Putting these things together in one place from the other thread. From next post onwards, it'll be newer charts. Sorry for making you to read over the same charts again.

babukraman said:
Hi all,
As is with the most of the charts, we invariably insert the indicators, markings, lines, etc., to interprete them. Well, for a change I'm trying to present the charts without any markings on them; let's see how well we can let our imagination run wild!
I present the 20110228 Nifty tick chart (courtesy: Yahoo Finance), sans the volume.
What a beauty to note the finer points of TA without any words. However, I'm just jotting down what I see over there. Let's see if you can spot them too! Cheers! Sit back, browse through the chart & Enjoy!


First, looking for a shallower up trendline, it's break down to form the H of Inv HnS, the extension of the 1st up trend line becoming Resistance for the Head to form the RS of the Inv HnS, Inv HnS b/o and subsequent pull back to the neck line, from there onwards achieving the Inv HnS's target with a much steeper 2nd up trend line, then break down of the second up trend line for a reversal.

Regards,
Babu Kothandaraman
Click to expand...
babukraman said:
Do you see what I see? - Image 02

NSE Nifty Tick chart of 2011 03 09
Image courtesy: Yahoo Finance!

Please take a look at the below image and try to gather your thoughts; then, go through my comments. Your feedback is always welcome!


There is an Inv. HnS with a bearish slanting NL; NL b/o; retest is only till that b/o level as NL is a bearish slanting one; from this retest level, first a gradual, shallow up move followed by a much steeper up move resulting in (a conservative levels of) reaching the Inv. HnS target; and once this steeper uptrend line got broken down, then a down move reached almost the NL b/o cum retest level.

What a beauty, oh boy! :salute: to TA

Regards,
Babu Kothandaraman
Click to expand...
babukraman said:
Additions on 12th May, 2011
As I keep looking at it again and again, I see there are two down trendlines.

The first one is very deeper which got broken out and it's extenstion provides the S for the pullback of the break out to form the Inverted Head

The second down trend line is much shallower; and it's extension turns into S for the Inverted Right Shoulder

Please note that the origin of both the down trend lines is the same price level. Make a guess :) :D
Click to expand...
 
B

babukraman

Well-Known Member
#2
#2
20110314 Nifty tick chart
Cortesy: Yahoo fincance



An uptrend to begin with; once it’s broken down, a double bottom is seen; break out of this double bottom pulls back subsequently to retest the R turned S level; and the bounce off of this level results another uptrend; it breaks out the earlier day’s high to form a new day’s High; after this day’s High, the second uptrend line is broken down resulting in a range bound gyration; then, the day’s High is broken out; this break out pulls back to retest the R turned S level; and the bounce off from this level results in another uptrend and reaches a new High. Have fun!
 
B

babukraman

Well-Known Member
#3
#3
20110317 Nifty tick
Image courtesy: Yahoo Finance

Initial upmove corrected to form a nice round bottom and the rally of this round bottom made a breakout taking out the day's high; but this proved to be a false breakout and the downtrend from that High sustained; for once, the low of the round bottom provided Support for a bounce off; eventually it was broken down; and got retested for the down trend to continue. During this down move, there is a smallish double bottom with the second one as an Inv HnS. The double bottom and Inv HnS breakout did achieve their target but facing the Resistance from the down trend line, it was south bound for the trend to continue.
Cheers!
Babu Kothandaraman
 
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B

babukraman

Well-Known Member
#4
#4
20110318 Nifty tick
Image courtesy: Yahoo! Finance


After the initial, steep downtrend line was broken out, it was a gyating, range bound market through out the day. However, I see a couple of double bottom formations; both of which achived their targets; however, from the second target, it was a south bound journey to end the day!
Do you see it?

Cheers!
Babu Kothandaraman
 
B

babukraman

Well-Known Member
#5
#5
20110323 Nifty tick
Image courtesy: Yahoo Finance



After the initial burst, do you see the S and R of the trading range which must have frustrated those who entered late?
 
B

babukraman

Well-Known Member
#6
#6
20110325 NIFTY tick
Image courtesy: Yahoo! Finance
http://img638.imageshack.us/img638/1621/20110325niftytick.png

Today also, it has been gyrating as the past two days, frustrating the tranders with its clueless, directionless moves. However, once the trading range is broken on the upside, the next Resistance came in the form of the day's High (happened in the early trades); then, it's also broken out and gotretested for a rally from there onwards for the delight of those who all have got frustrated (aka got burnt with whipsaws) in those past two days.

Cheers!
Babu Kothandaraman
 
B

babukraman

Well-Known Member
#7
#7
20110328 NIFTY tick
Image courtesy: Yahoo! Finance

For those who are not able to see the below image: http://img847.imageshack.us/img847/8109/20110328niftytick.png

Hi all,
Today I'm not going in details. There are quite a few trendlines; and these trendlines got broken; once the previous pivots are taken out after these trendline breaks, the trend reversals got confirmed. With these trend reversals, hope the traders had a good day. And, there is a bullish ascending traingle as well.
Regards,
Babu Kothandaraman
 
B

babukraman

Well-Known Member
#8
#8




I've illustrated both the 20110331 NIFTY tick as well as candle 5 min here.
Image courtesy: Yahoo! Finance

What do I see here?
Initial up move; then, a retracement; day's high tested twice more; once broken out, it was a shallow up trend; as with the true nauture of a rally, another vertical climb (much sharper up move); once, this steeper up trend line and the shallower up trend lines were broken down, then it's a down trend, all the way; (you can see this from the 5 min time frame chart; there were black candles all over the place); then, this down trend line got broken out for a pull back rally; it turned south as well; surprise! this down move took support at the previous down trend line; it bounced off from there for a positive finish.
Well! A good day for the nimble footed traders. Isn't it?
Cheers!
Babu Kothandaraman
 
B

babukraman

Well-Known Member
#9
#9
First the 20110401 NIFTY 5min candle


and the TICK chart here below.


The 5min candle chart shows the initial double top and a break down from there; once broken down, the trough of the double top held its Resistance through out the day; though, there was a brief breakout in the late afternoon; alas! that break out was immediately followed by a "bearish engulfing" pattern; that too, at the Resistance level. True to its nature, the price went southwards proving the break out to be a false one. By looking at this 5 min chart, one may conclude that it must have been an utterly frustrating day for the traders. Well! The market teaches the aspect of being disciplined in its own way. It's up to us to learn from the market. Isn't it?

Do you see a nice Inv. HnS in the tick chart? Not a break out in a sight though!

Cheers!
Babu Kothandaraman

Image courtesy: Yahoo! Finance
 
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