Patterns + OBV = Right Target

[Luckytrader]

Hi friends,

In this thread I will post those charts in which diff. patterns are forming & I will analyse it with OBV indicator.

In Unitech Descending Triangle Pattern has formed
(confirmed with break-out).

One more imp point, just look OBV relationship with price.

Target according to pattern is 430 & if my OBV analysis is right than it may go up till 480

Comments / Views are always welcome.


Disclaimer: This thread is not for recommendation; this is simply for analysing purpose.

 

[Luckytrader]

Great!

Unitech Trgt according to pattern achieved.....

Today Closed around 436.....9% up

Come-on guys what are ur views?

 

[winstonn]

Hi luckyTrader,

your find was a good one!
i think the main reason was the upbreakout inspite of Descending triangle and that too on high volumes which added fuel to the fire.

looking for more scrips from you!

Regards,
Winston

 

[Luckytrader]

Thanks Winstonn for your prompt reply

Thats what I mean,

Most patterns break-out are on high volumes

Thats why I am using these combinations.

I hope it will be fruitful to all.

Regards,
Luckytrader

 

[Luckytrader]

Explanation: (Refer Chart)

Look at the OBV relationship with the prices.

Point No.1 There is a change in support/resistance level of OBV but, prices did not move as expected i.e., it remain in its same trend/level (sideways)

Point No.2,3, & 4 There was a decline / reaction in OBV as well as in prices but still, prices remain in the same trend/level (sideways)

Point No.5 There was another decline / reaction almost same as before in OBV but, look at the prices it went down below its support level.

By this I mean to say,
A change in support/resistance level of price which was already shown in OBV (at point no.1) actually took place after 3 months in prices (at point no.5 in OBV)

Now, the current level of OBV (point no.7) is increasing & if the volume also increases daily then, be sure (according to analyse) prices will definitely increase above 960.

One more thing, there is a Symmetrical Triangle Pattern formed with confirmation break-out on high volumes.
TRGT- 845,

OBV Target 960+ (OBV trend should not change)

Comments / Views are always welcome

 

[Luckytrader]

One more Chart to prove my concept.

Really a picture is worth a million words.

ONGC with Double Bottom..

Regards,
Luckytrader

 

[kroswal]

Hi friends,

In this thread I will post those charts in which diff. patterns are forming & I will analyse it with OBV indicator.

In Unitech Descending Triangle Pattern has formed
(confirmed with break-out).

One more imp point, just look OBV relationship with price.

Target according to pattern is 430 & if my OBV analysis is right than it may go up till 480

Comments / Views are always welcome.


Disclaimer: This thread is not for recommendation; this is simply for analysing purpose.

i want to read your view on rpg cables with above theory

 

[Luckytrader]

One more food for thought.....

Regards,
Luckytrader

 

[pgd]

Explanation: (Refer Chart)

Look at the OBV relationship with the prices.

Point No.1 There is a change in support/resistance level of OBV but, prices did not move as expected i.e., it remain in its same trend/level (sideways)

Point No.2,3, & 4 There was a decline / reaction in OBV as well as in prices but still, prices remain in the same trend/level (sideways)

Point No.5 There was another decline / reaction almost same as before in OBV but, look at the prices it went down below its support level.

By this I mean to say,
A change in support/resistance level of price which was already shown in OBV (at point no.1) actually took place after 3 months in prices (at point no.5 in OBV)

Now, the current level of OBV (point no.7) is increasing & if the volume also increases daily then, be sure (according to analyse) prices will definitely increase above 960.

One more thing, there is a Symmetrical Triangle Pattern formed with confirmation break-out on high volumes.
TRGT- 845,

OBV Target 960+ (OBV trend should not change)

Comments / Views are always welcome

Luckytrader,

where is the chart u r referring to in your OBV analysis?
Perhaps it is removed. can u please put it back along with any more on OBV based trade signals.

Thanks.

 

[Raju]

HI, Luckytrader,
Please post the chart !
Raju