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Trading With Chart Pattern

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  #171  
Old 20th July 2008, 09:09 PM
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Default Re: Trading With Chart Pattern

A falling wedge is seen in nifty.
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File Type: png falling wedge.png (14.4 KB, 56 views)
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  #172  
Old 20th July 2008, 11:43 PM
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Default Re: Trading With Chart Pattern

sincerly appreciate your posting sir,definitely would be helpful if more people post their views...
Please find the attached chart...would like your views as well...
thanks

Quote:
Originally Posted by rajatheroyal View Post
A falling wedge is seen in nifty.

Last edited by learn2trade08; 14th August 2008 at 11:14 AM.
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  #173  
Old 21st July 2008, 04:28 PM
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Default Re: Trading With Chart Pattern

Quote:
Originally Posted by learn2trade08 View Post
sincerly appreciate your posting sir,definitely would be helpful if more people post their views...
Please find the attached chart...would like your views as well...
thanks
Though it does not seem to be a head and shoulder it is similar to a ascending triangle.what ever pattern it may be it can be bought if it breaches the upper resistance line. use 60 min charts for entry and strict stop below the support line.
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  #174  
Old 21st July 2008, 07:53 PM
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Default Re: Trading With Chart Pattern

Quote:
Originally Posted by rajatheroyal View Post
A falling wedge is seen in nifty.
double bottom is also there.
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  #175  
Old 22nd July 2008, 12:45 AM
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Default Re: Trading With Chart Pattern

Quote:
Originally Posted by citrus View Post
double bottom is also there.
Exactly.I forgot to mention in my last post.
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  #176  
Old 24th July 2008, 10:13 PM
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Default Re: Trading With Chart Pattern

Quote:
Originally Posted by rajatheroyal View Post
Though it does not seem to be a head and shoulder it is similar to a ascending triangle.what ever pattern it may be it can be bought if it breaches the upper resistance line. use 60 min charts for entry and strict stop below the support line.
dear friend,

although it is not a very classic inverted H&S pattern, yet we can call it one because volume is decreasing gradually as right soulder is forming. you have said that ascending triangle is forming; what i have read is ascending triangle forms in an uptrend and not in a downtrend. please clarify if i am missing something somewhere!

regards,

nick
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  #177  
Old 25th July 2008, 12:37 AM
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Default Re: Trading With Chart Pattern

Quote:
Originally Posted by nick721156 View Post
dear friend,

although it is not a very classic inverted H&S pattern, yet we can call it one because volume is decreasing gradually as right soulder is forming. you have said that ascending triangle is forming; what i have read is ascending triangle forms in an uptrend and not in a downtrend. please clarify if i am missing something somewhere!

regards,

nick
Dear nick
i wonder how would u call that a head and shoulder (h and s without left shoulder).As far as ur view on ascending triangle, you are absolutely correct accordin to theory.Theory says that ascending triangle is an continuation pattern.But there are instances when it also becomes reversal pattern.for eg head and shoulders are theorotially reversal patterns but do u know there is one such thing as head and shoulder continuation patters? yes there is h and s continuation.(u can see them clearly illustrated on ashwini gujral's book on chartpatterns.)
see the link provided below
http://stockcharts.com/school/doku.p...ing_triangle_c
The CHART PATTERNS ARE NOTHING BUT THE COMBINATION OF SUPPORTS AND RESISTANCE LINES. so no need to argue, we just need to follow the support and resistance only.

Last edited by rajatheroyal; 25th July 2008 at 01:04 AM.
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  #178  
Old 25th July 2008, 06:48 PM
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Default Re: Trading With Chart Pattern

Quote:
Originally Posted by rajatheroyal View Post
Dear nick
i wonder how would u call that a head and shoulder (h and s without left shoulder).As far as ur view on ascending triangle, you are absolutely correct accordin to theory.Theory says that ascending triangle is an continuation pattern.But there are instances when it also becomes reversal pattern.for eg head and shoulders are theorotially reversal patterns but do u know there is one such thing as head and shoulder continuation patters? yes there is h and s continuation.(u can see them clearly illustrated on ashwini gujral's book on chartpatterns.)
see the link provided below
http://stockcharts.com/school/doku.p...ing_triangle_c
The CHART PATTERNS ARE NOTHING BUT THE COMBINATION OF SUPPORTS AND RESISTANCE LINES. so no need to argue, we just need to follow the support and resistance only.
dear friend,

i am not arguing. as the left S was not prominent, i said not a classic H&S pattern. you are right when you say CHART PATTERNS ARE NOTHING BUT COMBINATION OF SUPPORTS AND RESISTANCES.

we need to follow support & resistance only keeping a close eye on price.

regards,

nick
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  #179  
Old 28th July 2008, 06:38 AM
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Default Re: Trading With Chart Pattern

Hi all
There is a double bottom formation in 3iinfotech and chamblfertilizer.wait for the breach of upper resistance line for buying.Further we can suspect a head and shoulder in i-flex. see the charts below.
Attached Images
File Type: png 3infotech.png (13.7 KB, 26 views)
File Type: png chambl.png (13.8 KB, 24 views)
File Type: png i-flex.png (14.1 KB, 20 views)
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  #180  
Old 1st August 2008, 08:03 PM
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Default Re: Trading With Chart Pattern

Hi Raja,

According to me Reliance has formed inverted H&S on daily charts. could u pls check and correct me if i am wrong

thanx
veena
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