Let us try a cheap lesson. Interactive.

[linuxguy]

AND WATCHING THE CHART THE NEXT RESITENCE WOULD BE AT 811 (50% RETRACEMENT LEVELS)

Well, excuse me asking questions in your discussion, but in whatever I have read until now, I didnt come across 50% retracement level. Would anyone please explain?

810 WOULD HAVE TO BE WATCHED

Again, why 810?
I am a little confused.

 

[vishalalluri]

Well, excuse me asking questions in your discussion, but in whatever I have read until now, I didnt come across 50% retracement level. Would anyone please explain?



Again, why 810?
I am a little confused.

HI LINUX

I AM TALKING ABOUT A BIT SHORTER TERM PERSPECTIVE

I HAVE DRAWN THE FIBONACI LEVELS BY TAKING THE HIGH OF THE SCRIP AS 0%OCT(2007) LEVELS AND LOW 365(OCT 2008 ) AS 100 %

NOT DETAILED BUT FOR U TO GET A PICTURE OF IT

http://www.metaquotes.net/techanalysis/linestudies/fibonacci_retracement





ITS THE FIBONACCI RETRACEMENT LEVELS IN WHICH EACH LEVEL ACTS AS SUPPORT OR RESISTANCE AS WE AN SEE IN THE CHART 38.2% HAS BEEN CROSSED IN MAY AND AFTER THAT THE STOCK HAS BEEN MOVING TOWARDS THE 50 %LEVELS(YELLOW LINE) CROSSED IT(JUNE) THEN RETRACED BACK A BIT THEN AGAIN CROSSED IT IN AUGUST
IN SEPTEMBER ENDING WE AGAIN SAW THE PRICE MOVING NEAR TO 50% LEVELS BUT RETRACED FROM DER WHICH SHOWS THE RESITANCE

I POST WHAT I THINK MAKES A LITTLE BIT OF SENSE TO ME I MIGHT BE WRONG BUT ALWAYS LOOK FORWARD TO BE CORRECTED IF WRONG THATS WHERE I LEARN

IM POSTING THE CHART OF LARGER FRAME


IN THE SMALLER TIME FRAME THE STOCK IS IN DOWNTRED BUT WHEN IT BREACHES ABOVE THE 100 MA THEN WE NEED TO WATCH FOR A BREAK ABOVE 810 (50% LEVELS) AS ACOORDING TO ME

I hOPE I COULD BRING A CLEARER PICTURE

 

[linuxguy]

I hOPE I COULD BRING A CLEARER PICTURE

Thanks a lot!!!
In just 5 minutes of reading your post I got it.
Just one doubt:
It seems I am going wrong somewhere, but I calculated Fibo retracements for H=1313, L=365 at the site:

http://www.traderknowledge.com/free-online-fibonacci-retracement-calculator.php

and I am getting some diff values.

Retracing an Up-Trending Range
38%: 952.7600
50%: 839.0000
62%: 725.2400

Retracing a Down-Trending Range
38%: 725.2400
50%: 839.0000
62%: 952.7600

So here it says 50% is 839, whereas on your chart its 810.
Please tell me where I am going wrong.

Thank you once more for all the explanation.

 

[vishalalluri]

thanks a lot!!!
In just 5 minutes of reading your post i got it.
Just one doubt:
It seems i am going wrong somewhere, but i calculated fibo retracements for h=1313, l=365 at the site:

http://www.traderknowledge.com/free-online-fibonacci-retracement-calculator.php

and i am getting some diff values.

Retracing an up-trending range
38%: 952.7600
50%: 839.0000
62%: 725.2400


retracing a down-trending range
38%: 725.2400
50%: 839.0000
62%: 952.7600

so here it says 50% is 839, whereas on your chart its 810.
Please tell me where i am going wrong.

Thank you once more for all the explanation.

hi linux i dint use fibo calculator i just joined the highs n low and aprroximations were given

high are 1315 and 365 as per my visuals

i ll check on these levels i might be wron too

 

[linuxguy]

hi linux i dint use fibo calculator i just joined the highs n low and aprroximations were given

high are 1315 and 365 as per my visuals

Oh sorry. I didnt know that levels were approximate.

 

[bharatk8]

collective effect of volumes,BB,RSI suggests that breach of 100DMA may turn out to be false.which will be confirmed by price action in coming weeks. Likely price range for next week is between 803.70 and 753.Close above 803.70 will confirm reversal of down trend.close below 753 will carry price further down.But odds favour halt of down trend.

 

[vishalalluri]

acc cmp 790

i though there would be lots of action here in the thread

what haapened to all

 

[veluri1967]

acc cmp 790

i though there would be lots of action here in the thread

what haapened to all

Hi..vishal...
Its not a race. Cool man. Donot expect this thread to attract so many people at this stage.
I am sure... all the people who have burnt their fingures using quick rich formulas will finally find a place here. (If not all, a majority of them).
This thread is like a narrow stream but its ending is like a big ocean.
Donot worry.
The lessons we learn here is not quick but solid ones.
I suggest u to visit this thread only once in a day. Not more than that.
Have a race in your usual threads.:thumb:

 

[vishalalluri]

Hi..vishal...
Its not a race. Cool man. Donot expect this thread to attract so many people at this stage.
I am sure... all the people who have burnt their fingures using quick rich formulas will finally find a place here. (If not all, a majority of them).
This thread is like a narrow stream but its ending is like a big ocean.
Donot worry.
The lessons we learn here is not quick but solid ones.
I suggest u to visit this thread only once in a day. Not more than that.
Have a race in your usual threads.:thumb:

hey veluri

i wasnot talking about any race though

i just thought their would be lots of views and new intepretations to see but dint find many the thing is i start expecting people to comment and which would help us learning more n more
thats my only motive

 

[AW10]

Here is the chart of ACC.
Use your own tech indicators, strategies and post them here.

My approach to trade ACC will depend on my timeframe of trade. So my analysis and trade identification is addressing various timeframe.
It is a learning excercise hence I am describing my approach to take trade. Hope my approach will be of help to others in terms of trade planning.
I might be wrong, people can challange it cause they don't agree with me.. that is fine. Though I would love to get cricism/discussion on my approach so that atleast I can also learn from it.
But that is not going to change my view. Only person that can change my decision is Market. and I have placed stops at the points where my view and markets reaction are not in synch..so I should be out the the trade.
I can very well these orders for swing trade/ position trade after hour and let market take care of my trade.
For daytrade, I will have to see the action tomorrow but my plan is ready for whatever 2 or 3 conditions I can visualise now..

I am not using any indicator to take decision ..but just price action and bars. At one place, I have used a trendline drawn from the low of 600 to low of 725.
Sorry, I am not mentioning any price levels.. but if you have any question then plz post here and I will try to post the chart with more details.


Disclaimer - Please don't take trade based on what I am writing below. It is not professional advice.

======================
Time frame - Day trade (5 min) Trend =Sideway after downtrend...Tomorrow it could go eitherway so be prepared to trade breakout.
Trade Bias = Last 4 bars are showing a setup that is one of my faviourite which is NR7 .. I am anticipating wide range bar tomorrow so ready to take breakout.
I don't know how 5 min bar will shape tomorrow (lack of info from this chart)..so no idea about stop/target etc from this chart. But if price stays above prev days high, then trade long
on 5min chart, else if it stays below prev days low then trade short.
Stay away, i.e. no trade, if price does not break.. Can't risk my money on such narrow range stock.. where there is limited profit potential. Reward risk is not in my favour.

Time frame - Multiday / Swing Trend =Sideway in Downtrend...Near lower end of channel support which is my buy zone.
Trade Bias = Take long.
Entry = Go long only when price breaks the high of prev day and stays above that.,
Stop = 3 points below the recent pivot low.
Target = 9 points below Upper channel line

Note - I am not going to take short trade as my stop will be above the swing high and target will be at xxxx giving me reward risk of xxx. Doesn't attract me.. so no short trade.
But if price reaches near upper channel line then I will look to short. So wait for few days and let market show me that.

Time frame - Positional / buy and hold Trend = Downtrend...Made lower high and Lower low. Trend line is broken. TL retested from below but price couldn't cross it.
Trade Bias = Take Shorts
Entry = Go Short at open tomorrow.
Stop = 6 points above the the recent pivot high.
Target = No target as of now. Trail to next pivot high whenever it is formed. till then my stop remains at current pivot high. (it has potential to godown till 600.. so as it reaches near 650/625 zone..I will revisit this part of my plan)

Note = As trend is down making lower pivot high and trend line is broken. So it will take few days to generate buy signal for me. So going positional long is ruled out at this stage.

======================

Happy Trading