BSE & Fibonacci

From the lil fibo knowledge i have.. i expect a bounce soon..

see charts

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Continuing from my previous posts on fibonacci and its tryst with NSE/BSE..

here i go again..



I have used simple Fibonacci time zones and retracement which i have used earlier and spoken of.

Cheers!

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Can you post your comments on the most likely scenerio for Monday using your studies?

Thanks.

i guess i m not well equiped for tht..
but the broad call is for a fall/drift down..
levels i have mentioned before in the charts..

enjoy

Ok Thanks.

I look forward to more of your comments.

1. I dont know E of elliot.. as far as i m concerned all the ellioticians r as good as the MET dept calling the tsunami wave after it happened! hope ur getting the point here. May be this the "X" wave.Thats the only wave i know.

2. I dont see any devil here.

3. I m not great by any means

4. Viratech

It means i use Virtatech's data feed obviously!!!!
i only accept thanks.. no cash!

Here is todays NSE Intraday chart with Fibo time zones and Andrews action/reaction lines, indicating major reversal points and possible targets.

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Serious stuff needs serious response im3vil, so no verse from me this time, only straight-from-the-shoulder prose for you. Here goes.........

Your Fibonacci write-ups seem to have captivated quite a few of our friends in this august forum. That speaks volumes on your grasp of his theories & practices. But, I say but......... almost all seem to be post-mortemish. I don't need M/S Leonardo Fibonacci, Elliot or Gann for that matter to tell me that we can expect a bounce-back soon. I can tell that too because everything that goes up comes down & vice-versa. No one can change that for sure. The million dollar question is When exactly will the reversal occur? Gurus & such will only hazard a guess, perhaps only a wee bit more accurately than me, an aspiring greenhorn T/A.

In my very humble opinion, the above reverred gentlemen may have evolved theories that they put into practice to achieve astounding success. That does not mean that everyone can repeat history, though the dictum says otherwise. If I am not mistaken as having read somewhere, Gann's analysis was based on theories practised by the ancient Egyptians to monitor & control the market prices of rice & other commodities in their times. That was'nt yesterday, was it? A cool 3000+ years ago. Gosh!! So much for our modern technology. Elliot has been both worshipped & condemned, in this very forum if you please. Fibonacci was a Mathematician whose series applied to far more applications than share trading. I know that for sure, not only because I've read about him & learned so but also because he was a pain-in-the-(you know what) while doing my Mech.Engg. T/A for me is to approximately, very, very approximately identify trends in certain on-the-move scrips & hazard a guess on probable entry & exit signals. Time frame would still be a shot-in-the dark.

Our very own Traderji is a Guru-par-excellence. No flattery here because I don't know him from Adam, except that he's our Moderator. Doing a damn fine job until now (since I joined this forum), both moderating & tipping so very accurately & so very often on good stock picks; charts, signals & all. On a different plane altogether. Someone tell me otherwise. He sure does have the gift of the occult, so it may seem. Then there are the other big-hearted T/As willing to share all they can. Their contributions have been astounding, informative, educative, morale-boosting etc. etc. to us novices. You, you, you, you..&.you can pat yourselves on your backs. You all know who I'm referring to.

No offence meant to anybody, both living or otherwise , but my essay above is only to tell all that I have been & am quite OK trying to prevent any losses & gunning only for profits, pennies they me be but profits all the same. That's my game & I'm quite happy playing it. All the while though, I'm trying my darnest to dabble with T/A with the guidance & encouragement that I derive from participating in this great forum of trading wizards. It is an art (or is it science?) that has elluded me thus far but I'll get there one day, you can bet on that.

Just leme know when u get there.. till that time my posts stop here. No more posts from my side. Time for my last chart.

PS: i assume ur a Mech Engg.. always wanted to know how did those Egyptians manage to lift tons of material and pile them one top of another.
There surely wasnt ur MEch engg. then.

As they say. Ignorance is Bliss

Bye ppl.

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