Did U find these systems/tools useful......

[RSI]

Trends are visible in every timeframe. One will have to learn to recognise them. Agreed that a "trend" in 1 minute chart may not be a "trend" in a daily chart. Making decision after carefully analysing multi timeframe charts is different from taking trade on the basis of single timeframe chart.

Here is what I meant by trend in 1 minute chart and daily chart portion of my quoted post. See the chart of Maruti. First chart is 5 minute intraday chart. I have marked selling climax and test which has succeeded. Agreed, we did not see base formation there. But when previous pivot high was taken out, trade could have been taken on that timeframe with strict stop. See 5 minute chart

Now see the daily chart of Maruti. Do you see any such selling climax and trend reversal there? Do you see any selling climax there?

In the daily chart you will see an attempt to break the low made on 15/07/2008. First attempt was made on 27th Oct and a new low was established. This new low is being retested now. But whether this retest is successful (I mean whether this low will hold or not), time will tell. It is too early to comment on that now.

 

[RSI]

To clarify my earlier post with regard to tests of lows. This post needed because of a horrible typing mistake committed by me in my earlier post. I have corrected my earlier post. In the erroneously typed post I said "What this evidence could be? Repeated tests of lows which ends in failure". It should have been "What this evidence could be? Repeated tests of lows which ends in success".

See the maruti daily chart for clarification

 

[Cactus]

View attachment 10668 Identifing the volumes is too hard specially on a chart provided by PIB or other software like that........at-least for me.

Actually volume direction is the most important part but In my view........it is prior part rather than latter.........If one can identify only volumes direction....it gives approx 60% correct result.......(unless there is a trap) I use a diffrent tool for that....

for intraday have a look at enclosed files......

an EOD chart of DEC future indicating a possible upmove is here.

http://tudaaldalmainpaatpat.blogspot.com/2008/11/volume-strength-index-vsi-indicate.html

sorry for not giving details about indicator as am not authorise.

 

[Cactus]

Some prob in opening excle file, download from here.....

http://rapid share dot com/files/166493714/New_Microsoft_Excel_Worksheet.xls.html

 

[the tape]

I guess........u r reffering individual stock/index and not entire market......?


..........?? little confused.......if identifying direction is latter part.....how will u identify directional move.......?

offcourse few tools are available on volumes to identify direction .........but those are not available for majority.

here we are talking about tools ......available for every-one

A stock is also a market in itself

i am talking about identifying the INTENSITY of that directional move. stocks are breaking highs and lows all the time.... does'nt mean that all of them will give us money. the abilty of reading volumes can help us in deciding which directional move to enter..

was only my 2 cents for the volumes. did,nt knew it was for majority or minority. sorry

 

[RSI]

One priceless post from my collections of posts from some other forums. This one is for newbies, who rely too much on indicators and oscillators to take decision. Please note views expressed herein are not mine.
------------------------------------------------------------------------------------------

Most common mistakes in using technical analysis

I would like to have everyone understand the most common mistakes that occur using technical analysis.

(1) Incorrect use of an indicator---lack of understanding as to what it does.

(2) Using indicators and oscillators in the wrong context. The most common being looking for buy opportunities in a falling stock using OVERSOLD from an oscillator. (Oscillators are to be used WITH the prevailing trend---the only exception being Divergence with oscillator and price, Type A, B, or C).

(3) A signal from an oscillator means NOW----simply any oscillators signal means AROUND now unless proven otherwise. Think of it as a CIRCLE around a price area and not a DOT.

(4) Oscillators and indicators are made up of PAST data and as such cannot be predictive.

(5) Signals remain valid for an infinite time. (There is a time when a signal is clearly wrong--- you must know when and take action).

(6) Analysis should start from monthly or weekly and move toward daily and then intraday.

(7) Over use of analysis. Many try to find something, anything to justify their position---

(8) Price action DOESNT LIE.

 

[Czar]

One priceless post from my collections of posts from some other forums. This one is for newbies, who rely too much on indicators and oscillators to take decision. Please note views expressed herein are not mine.
------------------------------------------------------------------------------------------

Most common mistakes in using technical analysis

I would like to have everyone understand the most common mistakes that occur using technical analysis.

(1) Incorrect use of an indicator---lack of understanding as to what it does.

(2) Using indicators and oscillators in the wrong context. The most common being looking for buy opportunities in a falling stock using OVERSOLD from an oscillator. (Oscillators are to be used WITH the prevailing trend---the only exception being Divergence with oscillator and price, Type A, B, or C).

(3) A signal from an oscillator means NOW----simply any oscillators signal means AROUND now unless proven otherwise. Think of it as a CIRCLE around a price area and not a DOT.

(4) Oscillators and indicators are made up of PAST data and as such cannot be predictive.

(5) Signals remain valid for an infinite time. (There is a time when a signal is clearly wrong--- you must know when and take action).

(6) Analysis should start from monthly or weekly and move toward daily and then intraday.

(7) Over use of analysis. Many try to find something, anything to justify their position---

(8) Price action DOESNT LIE.

Regarding 1st 2 points Very true couldn't agree more

Regarding point 8. Price action DOESNT LIE. - Price actions may lie sometimes, but its more difficult to fool indicators....

My 2 cents...

 

[columbus]

One priceless post from my collections of posts from some other forums. This one is for newbies, who rely too much on indicators and oscillators to take decision. Please note views expressed herein are not mine.
------------------------------------------------------------------------------------------

Most common mistakes in using technical analysis

I would like to have everyone understand the most common mistakes that occur using technical analysis.

(1) Incorrect use of an indicator---lack of understanding as to what it does.

(2) Using indicators and oscillators in the wrong context. The most common being looking for buy opportunities in a falling stock using OVERSOLD from an oscillator. (Oscillators are to be used WITH the prevailing trend---the only exception being Divergence with oscillator and price, Type A, B, or C).

(3) A signal from an oscillator means NOW----simply any oscillators signal means AROUND now unless proven otherwise. Think of it as a CIRCLE around a price area and not a DOT.

(4) Oscillators and indicators are made up of PAST data and as such cannot be predictive.

(5) Signals remain valid for an infinite time. (There is a time when a signal is clearly wrong--- you must know when and take action).

(6) Analysis should start from monthly or weekly and move toward daily and then intraday.

(7) Over use of analysis. Many try to find something, anything to justify their position---

(8) Price action DOESNT LIE.

RSI,

Have a look at RSI.(middle chart)

 

[Czar]

RSI,

Have a look at RSI.(middle chart)

my god Columbus how did u get chart for 27 nov 2008 ????? you are my best friend from today

 

[columbus]

my god Columbus how did u get chart for 27 nov 2008 ????? you are my best friend from today

It is NIFTY future-month.1 chart.For date look at Top right corner.