Analysis of charts - discussion share ur views

[anayash]

hi vishal,

I observed you have used ichimoku cloud in one of your charts.

how effective is ichimoku cloud on shorter time frames such as 5/15/30 min?

 

[vishalalluri]

Was just exploring fibonacci

thought this would strike some

Fibonacci Fans

These use Fibonacci ratios based on time and price to construct support and resistance trendlines; also, Fibonacci Fans are used to measure the speed of a trend's movement, higher or lower.

If prices move below a Fibonacci Fan trendline, then price is usually expected to fall further until the next Fibonacci Fan trendline level; therefore, Fibonacci Fan trendlines are expected to serve as support for uptrending markets (see: Support & Resistance).
Likewise, in a downtrend, if price rises to a Fibonacci Fan trendline, then that trendline is expected to act as resistance; if that price is pierced, then the next Fibonacci Fan trendline higher is expected to act as resistance.

 

[vishalalluri]

 

[vishalalluri]

 

[vishalalluri]

 

[vishalalluri]

Was just exploring fibonacci

thought this would strike some

Fibonacci Fans

These use Fibonacci ratios based on time and price to construct support and resistance trendlines; also, Fibonacci Fans are used to measure the speed of a trend's movement, higher or lower.

If prices move below a Fibonacci Fan trendline, then price is usually expected to fall further until the next Fibonacci Fan trendline level; therefore, Fibonacci Fan trendlines are expected to serve as support for uptrending markets (see: Support & Resistance).
Likewise, in a downtrend, if price rises to a Fibonacci Fan trendline, then that trendline is expected to act as resistance; if that price is pierced, then the next Fibonacci Fan trendline higher is expected to act as resistance.

 

[vishalalluri]

lOOKS LIKE Nifty will touch 5660 Levels soon

 

[vishalalluri]

Inrtrestingly Pidilite touched an intraday low of 137 and bounced back
Open 141 LOW 137 close 144 50 % acted as good support should will wait n watch

 

[vishalalluri]

I think this chart is gona take me to newer levels lol i really dont know if theres anything called Primary and secondary fibonacci fans .

Its purely my own intrepretation of the chart gota wait and watch . learning charts never ends ,intrepreting it on our levels tooo never ends .

 

[veluri1967]

Vishal,

You are still using Chartnexus. Not switched over to Amibroker? Chartnexus shows some data faults.