Queries From "Teach a Man to..." thread!!

[Alleppian]

Hi
I have only limited knowledge in TA that too from Saint's popular thread.But as I learn I get doubts and wanted to clear it in between .Also i would like to get opinions from seniors also. So that these silly doubt's may not spoil the flow of that beatiful thread ,Teach a man how to fish... ..
Ok Today I have come across this chart of Garnet (attached) and i noticed a reverse H&S pattern with volumes increasing. I have entered the trade at 42.80. So i would like to know is my judgemnent of the chart is correct or not?
Thanks in advance
Alleppian

[marcus]

Great idea Alleppian, I too well post my questions for saint from his lessons here, ........

[jraj]

Great idea Allepian.Thanks.Have a few doubts myself that I can put to Saint without spoiling the "Teach a ...."thread.

Jay Raj

[rahulg77]

Originally Posted by Alleppian

Hi
I have only limited knowledge in TA that too from Saint's popular thread.But as I learn I get doubts and wanted to clear it in between .Also i would like to get opinions from seniors also. So that these silly doubt's may not spoil the flow of that beatiful thread ,Teach a man how to fish... ..
Ok Today I have come across this chart of Garnet (attached) and i noticed a reverse H&S pattern with volumes increasing. I have entered the trade at 42.80. So i would like to know is my judgemnent of the chart is correct or not?
Thanks in advance
Alleppian

Hi Allepian,

Nice set up. MACD just had a crossover on the breakout from the neck line. RSI also just crossed over 50 before the breakout. A down trend line on RSI also is broken just bfore the breakout.

Volumes are good on the formation on the right shoulder as well on breakout.

But still be careful as the chart has too many gaps which might show that it is operator run script and hence in case of markets slipping you might get caught. When markets went down it slipped nealtr 50% from 19th may to 16th june in nearly one month.

But again I am a learner just like u. pls take advice from more seasoned traders

Rgds

Rahul

[Alleppian]

Thanks for the analysis by Rahul and responses from marcus and jraj. Hope Saint also will have a say at his convenience.
Thank you

[Saint]

Originally Posted by Alleppian

Hi
I have only limited knowledge in TA that too from Saint's popular thread.But as I learn I get doubts and wanted to clear it in between .Also i would like to get opinions from seniors also. So that these silly doubt's may not spoil the flow of that beatiful thread ,Teach a man how to fish... ..
Ok Today I have come across this chart of Garnet (attached) and i noticed a reverse H&S pattern with volumes increasing. I have entered the trade at 42.80. So i would like to know is my judgemnent of the chart is correct or not?
Thanks in advance
Alleppian

Hi Allepian,

Good idea,my friend,..........doubts a part of the learning process,no doubt is silly.What I can clear,shall do from my end.And if not possible,many great minds that grace this forum,so am sure someone will look into them.Importantly,get them clarified at all cost......like said before a million times,do it NOW before the market clarifies things for you(painfully!)

From my end,am caught up in a few things as of now......so answers may not come in as regularly as before.If you don't mind,will look into this thread at least once a week.......let's put it at Friday evenings for now.

Shall look into Garnet today evening.....

All the best!
Saint

ps:The title of your thread is a wee bit embarassing.......no teachers or students on this path.We are just friends helping each other out....

[marcus]

dear Saint,

In your lessons you had talked about a time stop.

Could you briefly tell us the time period it should be for


a)Swing trades?
b)short term trades?
3)Positional mid term trades?

thanks

Marcus

[Saint]

Originally Posted by Alleppian

Hi
I have only limited knowledge in TA that too from Saint's popular thread.But as I learn I get doubts and wanted to clear it in between .Also i would like to get opinions from seniors also. So that these silly doubt's may not spoil the flow of that beatiful thread ,Teach a man how to fish... ..
Ok Today I have come across this chart of Garnet (attached) and i noticed a reverse H&S pattern with volumes increasing. I have entered the trade at 42.80. So i would like to know is my judgemnent of the chart is correct or not?
Thanks in advance
Alleppian

Hi Allepian,

Regarding Garnet............thanks to its low volumes and upper/lower circuits,not looking as clear cut.When I get a neater reverse h&s ,shall post it in this thread.

As far as the trade is concerned,it is making higher pivot highs and lows on the daily.Therefore,it has broken the downtrend for now and is currently in an uptrend.Nothing wrong with the trade.........Your stop should currently be at 35.Once this goes to new highs over 47.4,raise stop to 40.5.

Saint

[Saint]

Originally Posted by marcus

dear Saint,

In your lessons you had talked about a time stop.

Could you briefly tell us the time period it should be for


a)Swing trades?
b)short term trades?
3)Positional mid term trades?

thanks

Marcus

Hi Marcus,

More of a personal decision.........since the entry is timed to catch a breakout,I basically expect to be in the profit zone immediately.Now the word immediate differs slightly as per the time frame.

For example ,we have a breakout of an asc triangle.Bought the breakout.Now it reverts back and goes back into the triangle and then goes sideways for what seems an eternity(now the word eternity is again a personal assessment).I'd rather pull the plugs and look elsewhere for profits.

But a trend positional move,a trade off the weekly charts,that's quite different..........willing to wait in a sideways move for weeks on end.

Saint

[nayadalal]

Hello guys,
I have no idea what you are talking about.
Where should a complete novice start?
Thanks
Naya Dalal