Analysis based on Ichimoku

[4xpipcounter]

Re: ABAN

Aban Offsho 541.99 515.08 498.86 466.44 450.22 423.31

Yes you can go long on the weekly kijun, but I wouldn't advise it--lol.
Keep in mind the tenken, and more so, the kijun are solid reference points for S 0r R, but the key point to remember is they are not guaranteed to contained.
Also you mentioned how the tenken are about to meet. That means even stronger R. The tenken is going to stay level on the daily up until Thursday, unless the peak or dip is broken. The kijun will also stay level, so both aren't going anywhere, except due east, ever coming days.

There is strong momentum pointing south. After chickening out after testing the cloud, the weekly cloud is now acting as R.
The daily chinkou has been flying above the cloud for quite awhile, and with the momentum pointing south, it can almost be anticipated it will find its way under the cloud.
If the recent peak at 505.55 is broken, then I take back everything I said. It's much greater odds that the swing low at 450.20 will be broken and the move will accelerate. We will know for sure which way this market is headed in the MT when this week is over.

* In weekly, kjun & tenken both are running parallel below cloud.
* Weekly kjun should be support for the 2nd time

* In daily kjun & tenken are about meet

* in both case chikoun is above candles

Can i go long @ weekly kjun?

 

[trade4joisar]

Re: BPCL

Weekly 2nd time tried to go into cloud OR tried to break the cloud but did not.

Daily now candle should go towards tenken.

Views on this.

 

[trade4joisar]

Re: ABAN

Aban Offsho 541.99 515.08 498.86 466.44 450.22 423.31

Yes you can go long on the weekly kijun, but I wouldn't advise it--lol.
Keep in mind the tenken, and more so, the kijun are solid reference points for S 0r R, but the key point to remember is they are not guaranteed to contained.
Also you mentioned how the tenken are about to meet. That means even stronger R. The tenken is going to stay level on the daily up until Thursday, unless the peak or dip is broken. The kijun will also stay level, so both aren't going anywhere, except due east, ever coming days.

There is strong momentum pointing south. After chickening out after testing the cloud, the weekly cloud is now acting as R.
The daily chinkou has been flying above the cloud for quite awhile, and with the momentum pointing south, it can almost be anticipated it will find its way under the cloud.
If the recent peak at 505.55 is broken, then I take back everything I said. It's much greater odds that the swing low at 450.20 will be broken and the move will accelerate. We will know for sure which way this market is headed in the MT when this week is over.

OK. So in this case what will be ultimate containment?
* Top of cloud?
* Bottom of cloud?
??

 

[4xpipcounter]

Re: ABAN

Nothing is ultimate containment at this point. WE just have to wait to see the nature of the next move south, then maybe we will get a handle on it.

I'll get with the other chart around 6:00pm your time. It's late here, and I'm not quite as sharp this time of the day. I don't want to be wrong just because I was half asleep while doing an analysis.

OK. So in this case what will be ultimate containment?
* Top of cloud?
* Bottom of cloud?
??

 

[4xpipcounter]

Re: BPCL

The market tried to challenge the recent peak but failed. The weekly cloud has contained, with the tenken and kijun leveling well below the cloud as seen in the future. This adds up to a reversal. If the current level of the daily kijun is touched, then look for the move south to accelerate even further. The only thing that will warrant a further look or even revision of current view is if the recent peak is broken.

Views on this.

 

[trade4joisar]

Re: JPAssociate

Originally Posted by trade4joisar
Here is update. We are very nears to your 66 target

* Seems like going to say hi to top of cloud
* In Weekly at present tenken is support
* Anything else?
Still, nothing much as changed. The market is still 3.95 away from the 66 level. If the chinkou break of the weekly is not a head fake, then 66 will hold.

At present ChartInk is not running, Can you look into your chart?

I think today it hit 66 & close around 69.

 

[rkgoyal_98]

Re: JPAssociate Charts

At present ChartInk is not running, Can you look into your chart?

I think today it hit 66 & close around 69.

By rkgoyal_98 at 2012-03-06

By rkgoyal_98 at 2012-03-06

By rkgoyal_98 at 2012-03-06

By rkgoyal_98 at 2012-03-06

 

[4xpipcounter]

Re: JPAssociate Charts

Watch for 64.50. If it is touched then it will abet a very strong move south. The candle will be pushed under the daily cloud, and it will be a free fall. Considering the look of the 4-hour just breaking under the cloud with heavy pressure from the tenken, that is the favorable scenario. At this point, it will take an extremely volatile reversal to get back in the UP.

By rkgoyal_98 at 2012-03-06

By rkgoyal_98 at 2012-03-06

By rkgoyal_98 at 2012-03-06

By rkgoyal_98 at 2012-03-06

 

[trade4joisar]

Re: JPAssociate Charts

Watch for 64.50. If it is touched then it will abet a very strong move south. The candle will be pushed under the daily cloud, and it will be a free fall. Considering the look of the 4-hour just breaking under the cloud with heavy pressure from the tenken, that is the favorable scenario. At this point, it will take an extremely volatile reversal to get back in the UP.

So in this case if i do like this
Long @ 65 SL 64.50 & else go long @ 55

 

[trade4putuval]

Re: JPAssociate Charts

Watch for 64.50. If it is touched then it will abet a very strong move south. The candle will be pushed under the daily cloud, and it will be a free fall. Considering the look of the 4-hour just breaking under the cloud with heavy pressure from the tenken, that is the favorable scenario. At this point, it will take an extremely volatile reversal to get back in the UP.

I assume you have recommended this price based on the daily chart, because none of the other charts shows this value.

So on daily chart, if the price touches the cloud, it should be considered as an interim support for the price, right (A signal for a bounce back)? But you are suggesting more downside if the cloud is touched. How do you decide this?