Nifty Entry ,Exit ,Target levels with Median Line Charts

[Kavima]

Bearish reverse divergence will be price making Lower highs and oscillator making higher highs.The dominant trend will resume.

 

[artoftrade]

Thanx Kavima for such a wonderful thread and will like to know whether you are a direct student of Tim??

He's the real guru and make such a great person, like you, to help us analyze the PF.

Great!!:thumb:

 

[vikrit]

Yes, I see what you mean - the stochastics are making lower lows while the price is making higher lows.

you are comparing two charts having different time frame. kavima's is 1 hour and yours daily. i think it is giving different result.

and one more thing. i am also using tt. i found easy to spot divergence on daily chart specially by standard settings (14,3,3) of stoch rather than default (5,3,3). in tt it will looks (3,14,3). %k=14.

 

[Kavima]

9.11.2011_Wednesday

Price moved upto resistance and then into the support zone today and broke down the trendline / orange PF trigger line , below 5270-5250 negating any upmove for now.We have to watch out for the downside supports at 5200 and 5140 ( 38.2%R ) - 5120 zone (support at Red LMLH) .

 

[kartthik]

Hi kavima
I am very thankful and I also appreciate you for the most comprehensive information on median lines with real chart examples!! keep it up

A little tip for all members: Use MACD divergence to spot the 3 pivots to plot the pitchfork

 

[at145]

Karthik, would you please provide an example, thanks.

 

[Kavima]

11.11.2011 Friday

Daily chart

Looking at the daily chart , a correction to the upmove is going on and a deeper fall will be triggered once 5100 breaks down, when price will move out of the red Pitchfork.The previous swing low at 5000 area should hold the fall ,levels meeting at the median line of the new descending PF (shown in red/yellow).
Hour Chart

Today's low was supported well at the junction of the Blue Median line and parallell line to the trigger line.(Channel formed between the trigger line and parallel line)
The Cyan lines are Sliding parallel lines.These are lines drawn parallel to the UML / LML when price overshoots them.The top line has been drawn first and the parallel is drawn below.The Line is expected to provide support for the downfall.
Possible scenarios shown in chart.

 

[Kavima]

14.11.2011_Monday

60 min Nifty chart
Levels projected in Friday's chart were perfect today!!! :thumb:

 

[Kavima]

16.11.2011 Wednesday

Daily chart

60 min chart

 

[NANDAMAD]

Now I have st arted understanding the stuff. Thank you very much. Please keep helping and educating us. A BIG THANK YOU and GOD BLESS YOU.