Trading With Chart Pattern

[sam_chinks]

HDFC still a lot of downmove left.....

guys I think its making a Complex Head n Shoulder pattern, along with a descending Triangle. But M more concerned abt Head & Shoulder, since its implication of reversal r much more. Want your views on my analysis, so to 'v more views n confirmation.

Thanks n regards....

 

[venkatpersonal]

Satyamcomputer Technicall strong.
RSI Make double bottom formation.

 

[uasish]

Hope Soumya will enrich us with his views.

 

[soumya_b]

Head & Shoulders Bottom In Hourly Chart of Nifty Future.

 

[djsinha]

Re: HDFC still a lot of downmove left.....

guys I think its making a Complex Head n Shoulder pattern, along with a descending Triangle. But M more concerned abt Head & Shoulder, since its implication of reversal r much more. Want your views on my analysis, so to 'v more views n confirmation.

Thanks n regards....

In head and shoulders, Volume on the left shoulder should be the highest. Then will be the volume under the head. And finally, volume under the right shoulder should be equal to or less than the volume under the head. Volume doesn't follow this pattern here. I'm in doubt...

Cheers
djsinha

 

[djsinha]

Soumya, I want to ask you a question. How do you manage to scan thousands of charts with Patternz? Infact I also have downloaded Patternz and tried to see 2 yr nifty daily to scan for patterns. Mainly, it's doing a candle by candle analysis and giving when a doji, engulfing pattern or stars are forming and according it's giving the immediate next day target with a particular probability.

Cheers
djsinha

 

[sam_chinks]

Re: Trading With Chart Pattern...Nifty Hrly Chart

Might be, its making a head n Shouler Bottom, but look at this white trendline, where two rallies got stopped. Whats your take Soumya.

 

[soumya_b]

Re: Trading With Chart Pattern...Nifty Hrly Chart

Might be, its making a head n Shouler Bottom, but look at this white trendline, where two rallies got stopped. Whats your take Soumya.

Hi,

its all depend on one's method of analysis. I BELIVE chart pattern is more reliable than simple trendline method. so i go for it.

regards,
Soumya

 

[soumya_b]

Soumya, I want to ask you a question. How do you manage to scan thousands of charts with Patternz? Infact I also have downloaded Patternz and tried to see 2 yr nifty daily to scan for patterns. Mainly, it's doing a candle by candle analysis and giving when a doji, engulfing pattern or stars are forming and according it's giving the immediate next day target with a particular probability.

Cheers
djsinha

i am not using Pattrenz for searching pattern. other than double top/bottom, triple top/bottom accuracy power of finding complex chart pattern is very poor in Patternz. currently the best tool available for chart pattern searching is your EYES.

regards,
Soumya

 

[sam_chinks]

Beautiful Brk-out in Bharti

Target 900(approx)............Need sum feedback from u Soumya..........