Chart Science.....

the tape · #91 21st June 2008, 09:59 PM

nick721156 · #92 30th June 2008, 02:58 AM

Quote:

Originally Posted by the tape

this is the chart of 5 min essar oil (intraday) . Perfect example of pipe bottoms formation.
Look at candles no 14 and 15.

http://img527.imageshack.us/my.php?i...5741323qj0.png

dear friend tape,

today only i have come across this thread and going through it. quite interesting. however, i am not able to see the images posted in the first few posts.

would you mind uploading them once again?

regards,

nick

uasish · #93 2nd July 2008, 08:15 PM

Quote:

Originally Posted by segul

hello tape,

Very nice charts with candle-volume relation.

do u think pattern on nifty-futures, the candle-vol relation indicating a new low.

regards.

The Red candel (which has 2 arrows in your chart highlighting the Vol),
prior to that candel the White one which closed in the High point of that candel's Range ,with Avg Vol this is the 'Upthurst Bar'.
I got a perfect example in your posted chart.

the tape · #94 6th July 2008, 10:00 PM

Hi !

I have kept this chart with me specially to post here ! ( lots of action ) this is also one of the most winning formations I have discovered :

We will see the movement from the opening :

In blue : The price opened and kept moving, every candle was making a new high or a new low, no stops at all……

In yellow : Price movement paused and it is nearly 15 min of congestion, no aggressive high or lows and a very visible range formation.

This consolidation occurred after the strong bear rally at the end of blue.

This is a rally and consolidation. Recognition of these ranges after the rallies give us a hint of who is under control, bulls or bears, mainly can be recognized by the contraction in closing of the candles………..

The red part : long build up with a downtrend. Forming a triangle, this formation makes this trade a bread and butter .

The sentiment became so bearish that the stock gave an on market gap down of 3-4 rs.

rkripal · #95 7th July 2008, 05:21 PM

Quote:

Originally Posted by the tape

Hi !

I have kept this chart with me specially to post here ! ( lots of action ) this is also one of the most winning formations I have discovered :

We will see the movement from the opening :

In blue : The price opened and kept moving, every candle was making a new high or a new low, no stops at all……

In yellow : Price movement paused and it is nearly 15 min of congestion, no aggressive high or lows and a very visible range formation.

This consolidation occurred after the strong bear rally at the end of blue.

This is a rally and consolidation. Recognition of these ranges after the rallies give us a hint of who is under control, bulls or bears, mainly can be recognized by the contraction in closing of the candles………..

The red part : long build up with a downtrend. Forming a triangle, this formation makes this trade a bread and butter .

The sentiment became so bearish that the stock gave an on market gap down of 3-4 rs.

very nice work, tape,
keep it up

kripal

amritak1952 · #96 7th July 2008, 07:50 PM

rkripal,
nice work and educative i just want to know how many days it will take to fill up the gap left
amit

the tape · #97 7th July 2008, 09:10 PM

ssup !

A day like today can be very helpful in the process of determining the current trend and sentiment, etc.

All asian markets did good, europe rallied bigtime, but our market, which at one time, used to decouple n stuff, used to usually close up 1 % at even flat asian markets, went up ! but, gave all it up ! ( usually does not do so ! )

This bear rally on nifty can be compared to any past big bull rallies. From 5250 to 3800, 1450 points down, it cannot be called a bull market correction any more.

The yellow line is the contraction that took place in nifty after the rally, price did not move ( as explained in previous post ).

Now this, cannot give us a trade but it can give us an idea of who is in charge , bulls or bears, so that we can trade with the trend and not jump in pullbacks.

the tape · #98 8th July 2008, 09:39 PM

Hi robin !

I am posting in the thread as it can be helpful to others also !

If you are looking forward to trade pipe tops and bottoms, you should be first able to recognize them, according to me, they can be amazingly helpful in taking an entry with the overall trend and playing for bigger moves because the stops of pipes are something that......... i mean a trader can easily bet the amount that is required if the stop loss gets triggered, on a move in which, he can possibly make a killing ! ( after all, only fewer breakouts are able to become home runs )

Anyways robin, if you think you can catch some of those pipes in charts, first, i would say that you post the chart here, i will tell you the leaks !

Don't just start trading them !

Now,

In rnrl, there are two pipe bottoms in rnrl

first one is the 6 and 7 candle, in this pipe bottom we go long at 10 or 11 candle because a pipe is confirmed not only by the participants but also the followers ( a pipe is ALWAYS confirmed after two or three candles, the following candles should be smaller and they should be tighter ).

Stop loss is placed at the bottom of the formation ( around 115........ )

Stop loss triggered.

Another pipe at the BOTTOM OF THE DAY,

Stop loss will be the same ( it is always the same : the bottom of formation in case of pipe bottom and the top of formation in case of a pipe top ).

This stop loss did not trigger.

In litl, 4th and 5th candle is a pipe bottom, though it cannot be called a bottom as the stock never went down, but, that is what the formation is called..........lol

The stop loss did not trigger.

In indiabulls,

(a) is a pipe top, pipes also work a continuation pattern, i vote yes for this trade.

stop loss triggered, but, it took a lot of volumes and time and difficulties for indiabulls to get that stop, its visible.

robin_malihan · #99 8th July 2008, 10:49 PM

Thanks for the reply

here is one chart which i sported today but have nt traded, i traded jp associate which i think is not a proper setup

.

Also u must be having some statergies to trade share giving tighter range as u have given some of the charts for those also .

Robin

the tape · #**100** 9th July 2008, 11:25 PM

Nifty has taken support from a multiple year long trendline.