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

deb99891 · #**1621** 21st May 2008, 10:57 AM

Quote:

Originally Posted by rakeshluthra430

If you observe, Saint is always missing before the markets starts falling...his absence can be taken as an indicator of an immenent fall in the markets..... someone shd work on the 'Saint-away' indicator as well

allways difficult to connect one ofour teachers as the pm box is allways full.

satya_pinku2003 · #**1622** 21st May 2008, 10:59 AM

Quote:

Originally Posted by rakeshluthra430

If you observe, Saint is always missing before the markets starts falling...his absence can be taken as an indicator of an immenent fall in the markets..... someone shd work on the 'Saint-away' indicator as well

Regards
Satya

rakeshluthra430 · #**1623** 21st May 2008, 11:00 AM

Quote:

Originally Posted by deb99891

allways difficult to connect one ofour teachers as the pm box is allways full.

Since he is also the moderator...cant his pm quota be increased....but I guess he already has his hands full...with so many questions on the forums... pms woulld be an added burden. He must already be short of time.

Saint · #**1624** 22nd May 2008, 02:36 AM

Quote:

Originally Posted by maddy_invest

Hi Saint,

I was looking at the Arvind mill daily chart. After the great crash in January it is now forming a cup like shape with a pullback to form a handle.Am I correct in my analysis that it has formed a cup and handle pattern? Will it be a reversal pattern now as it is after a downtrend? The pattern also has completed more than 7 weeks. Volume has also cotracted in handle.

Thanks again for your great effort.

Maddy

Yep,Maddy.........but confirmation only above 57.5

Saint

Saint · #**1625** 22nd May 2008, 02:48 AM

Quote:

Originally Posted by jamit_05

Hi Saint,

Could you please refer to the attached chart. I have arranged the question there itself. This sort of an occurence is very bothersome as it is a little tricky to deceide the trend.

Amit

What you described in your chart is the way it is done..........trail stops raised on new highs formed.......but in that particular example you had posted,the other rule kicks in.....7 up days in a row + steep gradient......raise stops to 2 candles back till stopped.

All the best!
Saint

Saint · #**1626** 22nd May 2008, 02:51 AM

Quote:

Originally Posted by sachin_jain3

Hello Saint,

I have posted my query in this thread.

http://www.traderji.com/trading-tech...tml#post180145

Please find time to reply the same.

thanks,
Sachin

Shall do,Sachin...

Saint

Saint · #**1627** 22nd May 2008, 03:13 AM

Quote:

Originally Posted by sachin_jain3

Hello Everybody,

I am a long term investor, but i want to keep track of important long term trend reversals to ensure that i exit at the right time. I have invested in the indian stock market using some good mutual funds. I have been tracking the sensex's long term chart based on the saint's thread to ensure that the sensex continues to be in a long term untrend while i am invested. Also I had done a trendline on the sensex chart to ensure timely exit in case the trendline is broken.

Have a look at the chart attached. Clearly the long term trendline that i was following is broken. So i have booked some profits in my MF portfolio aleardy. But the last pivot low PL1 is still greater then the one before it (PL2) i.e. PL1 > PL2. So the uptrend is still not broken? There is no new pivot high that has been formed after PH1 according to me, so we wil need to wait and see if the new pivot high is lower then PH1 to confirm if the uptread is broken.

My dilemma is how do I confirm that a new pivot high is formed? I want to exit my remaining position if the pivot high is lower then PH1. Is there a way to know how much time it may take to form a new pivot high and how do we confirm that a pivot high is formed.

I have marked other Pivot High and Pivot Lows based on my understanding of the chart. You are welcome to correct the same.

All comments welcome.

Sachin

Hi Sachin,

First it's important to analyse if you are trading the weekly charts......which means we honour previous pivot lows and highs on the weekly charts......If it's the weekly pivot low that you are looking at,the last pivot low before the dntrend was on the week ending 20/12/07 at 5676.70.....If and when this pivot breaks,the uptrend is over......No such thing as making lower pivot highs to confirm the end of an uptrend......Break of prev pivot lows and you are out of that trade.

On the other hand,if you are a long term trader,benefitting from the Primary Uptrend,your entry was in July 2003 and still in the trade.........If lower pivot highs are made and then previous pivot lows are broken at 4468,your trade that started at 1140 would have come to an end as the Bear takes over.

And if you were trading the weekly chart uptrend using the monthly as backdrop,then again you would have exitted in the third week of Dec and probably reentering soon once 5300 is taken out.

Any of the ways,the break of previous pivot lows is the end of that uptrend on that time frame........no more confirmation is required.

And remember,in an uptrend we are looking at previous pivot lows.......in a dntrend we are looking prev pivot highs........Break of pivot lows is what we are looking for to exit.

Hope this helps to clear some doubts........do get back if doubts persist.

All the best!
Saint

Saint · #**1628** 22nd May 2008, 03:15 AM

Quote:

Originally Posted by rakeshluthra430

If you observe, Saint is always missing before the markets starts falling...his absence can be taken as an indicator of an immenent fall in the markets..... someone shd work on the 'Saint-away' indicator as well

lol

Saint · #**1629** 22nd May 2008, 03:18 AM

Piyush,Maddy,Ruchir,

Welcome to Traderji and to the world of Trading!

Saint

Saint · #**1630** 22nd May 2008, 03:19 AM

Quote:

Originally Posted by deb99891

allways difficult to connect one ofour teachers as the pm box is allways full.

PM's cleared........sorry abt that!

Saint