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Teach A Man To Fish And.........

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  #1541  
Old 17th April 2008, 11:34 PM
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Default Re: Teach A Man To Fish And.........

dear saint,

posting an image of cipla daily chart. it is gradually forming rising wedge- bearish indication. so we need to be careful! am i correct?

regards,

nick

Last edited by nick721156; 28th May 2008 at 08:24 PM.
  #1542  
Old 17th April 2008, 11:51 PM
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Default Re: Teach A Man To Fish And.........

Quote:
Originally Posted by Saint View Post
Both are pivot lows.........but the one that's important to you as a trader is the first pivot low at the rising wedge top.Short the break of that pivot low.

But yes,theories wise,both are pivot lows.

Great job on the trendlines,my friend.......well done!!

Saint
dear saint,

i am indebted to you for your guidance.

regards,

nick
  #1543  
Old 18th April 2008, 12:49 AM
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Default Re: Teach A Man To Fish And.........

Quote:
Originally Posted by lvgandhi View Post
Dear Saint
CNXIT has broken previous pivot high on 16/10/08 on weekly. But it has not formed higher pivot low still on weekly thought on daily it has borken previous pivot high on 25/03/08 and formed pivot low on 01/04/08. Can we say that weekly of CNXIT is in uptrend only now or earlier sothat we can trade/go long in daily? When we should have gone long in daily?
I would have caught that breakout over 3945 although weekly gave no confirmation,more as a short term trade.........From here,there are only 2 things that it can do......go on to make higher highs,or it stalls here,and makes a mild pullback.

I'd look to go partial long if next week's candle can take out the high of this week......and then add later once weekly gets into pullback mode and makes higher pivot lows.


Saint
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  #1544  
Old 18th April 2008, 12:59 AM
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Default Re: Teach A Man To Fish And.........

Quote:
Originally Posted by nick721156 View Post
dear saint,

posting an image of cipla daily chart. it is gradually forming rising wedge- bearish indication. so we need to be careful! am i correct?

regards,

nick
Yep,some sort of a rising wedge..........more clear on the monthly charts......not looking good at all....Keeping it on a 'short' watchlist,...........CIPLA is in a Primary Downtrend,not Intermed but Primary...aka Bear Market.....meaning this rally is a relief rally of sorts within a bigger decline.

If you like to trade short as much as you like to go long,keep this on your watchlist for a short when it dumps.

Saint
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  #1545  
Old 18th April 2008, 01:12 AM
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Default Re: Teach A Man To Fish And.........

Quote:
Originally Posted by nick721156 View Post
dear saint,

i am indebted to you for your guidance.

regards,

nick
Most welcome,Nick...

Saint
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  #1546  
Old 18th April 2008, 01:16 AM
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Default Re: Teach A Man To Fish And.........

RANBAXY opposite of CIPLA.......in a Primary Downtrend the last 3+ years,now taking out previous pivot highs on the monthly......giving indications of a change in trend and the start of a new Bull Market in Ranbaxy.

Saint
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  #1547  
Old 18th April 2008, 11:19 AM
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Default Re: Teach A Man To Fish And.........

SAINT ..sorry to bother u again ....its just a humble reminder for a query sent ....hope u will find some time in ur busy schedule ...

thanx

vineet

[as usual ur pm is full...so have to post here ...sorry]
  #1548  
Old 18th April 2008, 11:38 AM
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Default Re: Teach A Man To Fish And.........

Shall do,Vineet!

Saint
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  #1549  
Old 19th April 2008, 06:08 PM
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Default Re: Teach A Man To Fish And.........

Quote:
Originally Posted by Saint View Post

TRADING THE WEEKLY-----LOOK AT MONTHLY UPTREND------YOU ARE LOOKING AT WEEKLY DECLINES TO ENTER,MEANING THE MOMENT THE PREVIOUS BAR'S HIGH IS TAKEN OUT,WE ARE IN.
Dear Saint Sir,

I would be obliged if you could give some clarification on the above statement. In the current downtrend nifty has gone above the prev week's high on 3 occassions and on 2 of these above occassions it has closed below the prev week's high and continued with the downtrend. So what should the strategy be for an intermediate trader. Thanks

Sandeep
  #1550  
Old 19th April 2008, 06:37 PM
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Default Re: Teach A Man To Fish And.........

Quote:
Originally Posted by Saint View Post
Yep,some sort of a rising wedge..........more clear on the monthly charts......not looking good at all....Keeping it on a 'short' watchlist,...........CIPLA is in a Primary Downtrend,not Intermed but Primary...aka Bear Market.....meaning this rally is a relief rally of sorts within a bigger decline.

If you like to trade short as much as you like to go long,keep this on your watchlist for a short when it dumps.

Saint

dear saint,

thanks a lot.

regards,

nick
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