My charts (and yours too........)

[preethi21]

Shorted nifty fut @ 5372 sl 5390 risk 1000 rs aprx

 

[dhootankur]

Looks like it has came out of consolidation and might perform again for 175...128 is acting as good support and can be taken as SL...

Any inputs...?

 

[4xpipcounter]

Dhootankur, nice call!
Expect some R at 149 that will force the market to go east for awhile, Afterward, the UP will continue to 165.
The latter is a conservative target.

Looks like it has came out of consolidation and might perform again for 175...128 is acting as good support and can be taken as SL...

Any inputs...?

 

[dhootankur]

Dhootankur, nice call!
Expect some R at 149 that will force the market to go east for awhile, Afterward, the UP will continue to 165.
The latter is a conservative target.

Thanks Paul da...that boosts...:clap:

 

[4xpipcounter]

No problem, dhootankur!
Within the scope of price action, notice the recent swing low and the recent swing high. That last candle broke the recent swing high, so the odds are finite that the swing low will be touched before you get a 100% continuation on the move from the swing high.
By 100%, I mean to measure the distance from the swing low to the swing high, then extend that from the swing high.
That is something that can be backtested. You might be surprised to see how common it is.

Thanks Paul da...that boosts...:clap:

 

[dhootankur]

No problem, dhootankur!
Within the scope of price action, notice the recent swing low and the recent swing high. That last candle broke the recent swing high, so the odds are finite that the swing low will be touched before you get a 100% continuation on the move from the swing high.
By 100%, I mean to measure the distance from the swing low to the swing high, then extend that from the swing high.
That is something that can be backtested. You might be surprised to see how common it is.

In your spare time would you mind telling how did you taken out that 149 would be resistance from price and yeah it is acting as a resistance now...so would like to know your thinking what made you think like that so I can also apply that in my future studies...

 

[4xpipcounter]

You actually threw me for a loop on that. I was looking at your chart and thinking how did I come up with that 149. There was nothing on your chart to suggest that. But then, that's what you get when you spend your life staring at charts. Many get lost in the shuffle.

I have a chart of it on chartink.com. The bottom of the weekly cloud is at 149. The initial hit of it is forcing it to go sideways.

It's only temporary, though, as per overall momentum and the properties of the swing high I mentioned earlier.

In your spare time would you mind telling how did you taken out that 149 would be resistance from price and yeah it is acting as a resistance now...so would like to know your thinking what made you think like that so I can also apply that in my future studies...

 

[sanjivdhir]

Hi...a pattern similar to EXIDE was seen in RCOM today......

 

[sanjivdhir]

No problem, dhootankur!
Within the scope of price action, notice the recent swing low and the recent swing high. That last candle broke the recent swing high, so the odds are finite that the swing low will be touched before you get a 100% continuation on the move from the swing high.
By 100%, I mean to measure the distance from the swing low to the swing high, then extend that from the swing high.
That is something that can be backtested. You might be surprised to see how common it is.

Mr Paul I have a query......I am posting todays daily chart of EXIDE IND...will the price come down to touch the first line at 144 or the second line at 126.69.. ...I am quite new and hope you'll bear with me...

 

[4xpipcounter]

Sanjivdhir, being new is never a problem. That is why we have forums just like this one.

The swing high was broken, so the market should rise higher, therefore, 126.69 should not be touched.

Mr Paul I have a query......I am posting todays daily chart of EXIDE IND...will the price come down to touch the first line at 144 or the second line at 126.69.. ...I am quite new and hope you'll bear with me...