Pattern Trading [Actual trading, not educational]

[sunny_cool]

hi friends,

If you don't mind, i have a question here.

can we use just the trendlines/SR/BB along with one oscillator (either RSI or stochs) ?
will we be better off avoiding any trend following indicator like macd or adx or MA?
I feel it clutters our chartspace and distracts us, if we use more than this many indicators.

please let me your views on this.

I think trendline with one oscillator is good

but the most important thing is that U must b comfortable & confident with your system....
even i m new in trading but i feel comfortable with my trendlines,trend formation & RSI indicator...
But it would be highly appreciated if some seniors put some light on this subject....
Linkon sir,RnE,Babu,4xpip......

 

[sunny_cool]

EKC seems a good shorting opportunity...If it trades below 65.5 one can short with a SL of 67.5 & Target of 3-5% downside

 

[sunny_cool]

EKC Follow Up - Target achieve :thumb::clap:

 

[sunny_cool]

VIP Industries - Seems good opportunity for short...now trading below long term range...Seems good sell with SL of 880 & target of 760

 

[prst]

VIP Industries - Seems good opportunity for short...now trading below long term range...Seems good sell with SL of 880 & target of 760

good one sunny.
there seems to be a trendline break even on the weeklies..

 

[FanaticTrader]

EKC Follow Up - Target achieve :thumb::clap:

Good one..tough I have slightly different view on VIP. May be this is the time to enter VIP with price taking support at 3 point trednline.

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[sunny_cool]

Good one..tough I have slightly different view on VIP. May be this is the time to enter VIP with price taking support at 3 point trednline.

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Thanks Fanatic...
This is beauty of trend lines & Market...it can bring fool out of us anytime :annoyed:
Now i will be carefully watching ur trendline also...& will wait for it to break it...
though VIP is a good short in Ichimoku system also...lets see how it goes

 

[FanaticTrader]

Thanks Fanatic...
This is beauty of trend lines & Market...it can bring fool out of us anytime :annoyed:
Now i will be carefully watching ur trendline also...& will wait for it to break it...
though VIP is a good short in Ichimoku system also...lets see how it goes

Abs...my only point is that if we enter long here we would have better risk to reward ratio...however if trendline is breached, it really would compel me as well to go short in in this counter

 

[FanaticTrader]

Picked up another stock which just might give good returns in days to come.

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The price has given b/o from high made in August & September. Also price is supported by rising TL with huge increase in volume. RSI is trading in positive zone and stochastics have give a positive crossover. In my view counter can reach upto 440-446 in near short term and if taken out can also reach 500+

 

[prst]

Abs...my only point is that if we enter long here we would have better risk to reward ratio...however if trendline is breached, it really would compel me as well to go short in in this counter

i agree with your views.
mainly because VIP is a darling stock of traders and investors, our inner mindset tells us to grab it at the slightest of discount. we feel it may rise on every fall, and its partially true.
but as followers of TA , we should not go by fundamentals of a company (which I feel is already reflected in the charts by way of current price)
we should consider a VIP and ShreeAshtha on the same platter, while looking at the TA charts.