Recent content by descartes

  1. descartes

    Incisive Nifty Trend Analysis

    Nice to see your post. Always wondered where you had been :) Rgds
  2. descartes

    M6 - Man, Mind, Money, Markets, Method & Madness

    i think a must read is the YTC Price action trader. He asks a trader to look at three timeframes while making a decision. Although we get fewer trades but the hit ratio is higher.
  3. descartes

    Observations & Ideas

    Observation Log: 22, 23 and 26th of May 2014 22, 23 & 26 May 2014 Higher highs in the last 3 days. The uptrend continues and looks solid. Monthly Solid green candle indicating an upward move Weekly Although today in the last hour we had a lot of profit booking overall the weekly uptrend is...
  4. descartes

    Observations & Ideas

    Observation Log: 20th & 21st May 2014 20 May 2014 & 21 May 2014 20 May appears to be a SH in the last upward leg (ignoring the high volatility of the election result day). A lot of bearish pressure existed today but a good fight put up by the bulls towards the close. Volumes are decreasing...
  5. descartes

    Observations & Ideas

    Observation Log: 19th May 2014 19 May 2014 Volume fell and the day closed 13 odd points in the red although we nifty touched newer heights. Close at 7263. Monthly Same as last log Weekly The first day of the week is a red hammer and signals a trend reversal in an uptrend but this is...
  6. descartes

    Observations & Ideas

    Observation Log: 16th May 2014 16 May 2014 With the picture turning out to be as expected we did not see any circuit break but rather a nice booking of profits. Volumes were heavy. Nifty peaked at 7563 before 11am on friday, this was the lifetime high. From here on we might see some correction...
  7. descartes

    Observations & Ideas

    Observation Log: 15th May 2014 15 May 2014 Tomorrow is the day! We had lower volumes. 25 points up and close at 7123. Lets see if the circuit breaks tomorrow. Monthly Same as last log Weekly Same as last log Daily 3 birds up in the air. The gap would close sooner or later...
  8. descartes

    Observations & Ideas

    Observation Log: 14th May 2014 14 May 2014 A doji day. Today was a waiting day for the 16th. Nobody emerged as the winner. Its still wait and watch. Options might be indicating the direction from here on. Monthly Same as last log Weekly Same as last log Hourly Sideways channel...
  9. descartes

    Observations & Ideas

    Re: Observation Log: 13th May 2014 Thanks Amit! Seems very odd. I read on the forum that there was a lot of swing in the IV too. I think all correlations and theoretical concepts have gone for a toss in this emotionally charged market :)
  10. descartes

    Observations & Ideas

    Ideas: Three River Evening Star Candlestick patterns emerged from rice traders in the 16th and 17th century in Japan. A historical background: The complete name of an 'evening star' is 'three-river evening star'. Nobunaga Oda was a Japanese military figure in the late 16th century. He was...
  11. descartes

    Observations & Ideas

    Observation Log: 13th May 2014 13 May 2014 A 66 point gap up which was more than I anticipated after seeing the SGX in the morning. 7172 is the new record! But I think the party might be just getting over and we need to be very cautious. A classic 'Evening Star' pattern formation might come...
  12. descartes

    Observations & Ideas

    Observation Log: 12th May 2014 12 May 2014 Nifty reaches its highest ever at 7020. This is another day of election result euphoria. This is not going to last for more than a few sessions in my humble opinion but then everyone's got one. Its a safe bet to short July/August futures contract from...
  13. descartes

    Observations & Ideas

    Thanks Amit for the links.
  14. descartes

    Observations & Ideas

    Spent the day reading theory on options and thought of sharing one nice article called "Holes in Black Scholes Model". It can be found here. I am not sure in the Indian context if option traders use pricing models as I have observed people trading in a fashion as if options are the leading...
  15. descartes

    Observations & Ideas

    Re: Observation Log: 7th May 2014 Hi Happy Sorry again for the delayed reply. I will briefly try to cover the points which help us in knowing what the volumes of different participants were in the market and what kind of positions they are holding onto inferring from the open interest of...