Queries From students of Saint

lvgandhi · #31 21st June 2007, 06:02 AM

I have gone through the collection of posts by saint. Really it is very much helpful. I would like to know a few more things. All my questions pertains to swing trade.
Reward risk ratio is most important for going into any trade. when a new high is made with a breakout like in federalbnk today(I hope I am not wrong), how to estimate the target?
Second how one fixes entry price. Whether it should be pivot or S1 or R1? Or any other method is used?

Alleppian · #32 1st July 2007, 10:58 AM

Quote:

Originally Posted by Alleppian

Hi Saint !
Thanks for keeping up the good work through different threads and educating us.
Can you please verify the chart I attached and tell me whether my understanding of 'Bump And Run Reversal pattern' in this case of NDTV is correct or not?
Also I would like to know is this pattern is commonly used for analysis?
Thank you saint in advance

Hi Allepian,

Not been around the last few weeks,taking a well deserved break for body and mind......as for NDTV,not too clean,both phases(lead in and bump)although I see what you are looking at.

Have not been looking at Indian stocks individually,but have a look at GMR INFRA....the full pattern has not formed as yet,but very much in the process,isn't it?

Take care,and all the best!

Saint

Thanks saint for the reply

sachin_jain3 · #33 17th May 2008, 01:48 PM

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

djsinha · #34 18th May 2008, 02:45 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 of all very good job done for attaching the chart of Sensex with Phs and PLs marked absolutely correctly.
You can confirm the occurence of new pivot high on seeing a couple of bars to the right side of the new pivot high. If the high of one particular candle is found to be higher than the candles to the left as well as to the right of that particular candle (as u have pointed the PHs and PLs in the attached chart)...then u can say a lower PH is formed.
Regarding time, no one can really say what will be the expected time required to form a new pivot high.

uasish · #35 18th May 2008, 07:14 AM

As Saint said in Kolkata;for identifying a 'Pivot' & what i understood.......

Now plz actually put your palm on the moniter screen,see the middle finger,2 fingers at left of middle finger & 2 fingers on the right of middle finger denotes that the middle finger is the Pivot High,now place the plam upside down,you get the 'Pivot' Low.

robin_malihan · #36 18th May 2008, 01:04 PM

Quote:

Originally Posted by uasish

As Saint said in Kolkata;for identifying a 'Pivot' & what i understood.......

Now plz actually put your palm on the moniter screen,see the middle finger,2 fingers at left of middle finger & 2 fingers on the right of middle finger denotes that the middle finger is the Pivot High,now place the plam upside down,you get the 'Pivot' Low.

This is what i read in teach a man to fish and try to use them most of the time.

Robin

Saint · #37 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

sachin_jain3 · #38 22nd May 2008, 10:26 PM

Quote:

Originally Posted by Saint

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

Thanks for the Reply Saint,

As far as I am concerned i am trading the Primary uptrend and not the weekly trend. In that case should i be looking at the monthly chart rather then the weekly chart. I have tried to identify the pivot highs and lows in the nifty monthly chart this time. Please have a look at the chart attached. I have identifed the Pivot Lows (yellow circles), pivot highs (sky blue circles) and the entry (red circle). Is this looks good? Also since the last pivot low, PL1 (4468) was higher then the one before, PL2(4448), so this uptrend is still intact. Is that interpretation correct.

And if i were to do a trendline on this chart (marked blue), the trendline is still valid and the uptrend continues by that standard also. Is that correct?

I couldnt understand this statement of yours "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." Maybe its a more advanced concept, and i need to read the thread again to understand.

Thanks,
Sachin

mahesh2007 · #39 27th May 2008, 07:42 PM

Hi saint!

I am new to TA but i managed to learn a layman's knowledge about chart patterns-ascending/descending triangles,double top/bottom,head &shoulder etc.

How I should start implementing my learning-by using

(1) charts on nse
charts on in.yah oo.com
or
(2) should i go for online broker and start using its charts.
or
(3)should i buy charting s/w Amibroker/fibotrader(i had downloaded it's trial version but could not do much for want of data.
threads on amibroker need to be updated and instead of different links which turns into ******, all contents should be given in thread itself in step-by-step manner just like a book written on Amibroker.

[

Code:

please let me know is there any good book written on amibroker/fibotrader.

(4) Anything else u would like to recommend, please let me know.
waiting desperately for your reply!
mahesh

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