Your honest opinion please

RSI

Well-Known Member
#1
Ok friends. It is time to have some fun and education. Look at the chart below.



Name of the chart and X and Y axis values of the chart have been withheld for the time being. This is intentional. These have been omitted to avoid bias of whatsoever nature. Also, ignore the blue line appearing in the chart. Concentrate only on the candles and the volume histogram appearing in the background in light grey shade.

Can you make analysis of this chart? Kindly post here whatever you feel about this chart. Whatever it may be. Put it down in this thread. But only two conditions. They are

1. It must be your HONEST views/opinion

2. It must be YOUR OPINION. You should not be influenced by any one else’s opinion.

If you feel that you are having a plan or two to trade this chart, post your ideas as well.

Come on friends. Let us have some fun. I shall reveal the name and x axis and y axis value of this chart on 10th January 2009. I am not posting any comment on this chart now as it is not fair on my part since I have withheld the vital information as to name, x axis and y axis values of the chart.

Give it a try.

Wishing you all the best and also a very happy and prosperous new year

R. S. Iyer
 

RSI

Well-Known Member
#3
I forgot to mention that this chart is updated until today, i.e. 31 December 2008. Data for 31 December 2008 is included.
Sorry for the inconvenience
 

Sunil

Well-Known Member
#4


Assuming that it's a scrip with good liquidity & not a B2 grade stock, I'll buy it when it comes down at the black line drawn.
My stop would be below the low of the 8th bar from left.

At best, I'll wait for the next bar to form - a resting bar is expected after such WRB. The high & low of such resting bar will be an important clue for further direction.

Since earlier left bars are not shown, one cannot be sure that this is a case of breakout after bearish days, and had met a good resistance point at the high of the WRB.
 

Sunil

Well-Known Member
#5
I forgot to mention that this chart is updated until today, i.e. 31 December 2008. Data for 31 December 2008 is included.
Sorry for the inconvenience
Oh .. so this is an EOD chart???
I thought this is some old chart with a good point to learn when you will reveal the right side of the chart... I had given my reply thinking this.
:)

So, even you are unaware of its future price action...:D

Like Nifty at close today, it's at neutral zone for me... i'll wait for the next bar to form.
 

AW10

Well-Known Member
#6
Thanks RSI for throwing such a challenge. Just price action.
I am swing traders, i.e. I will stay in the position for few bars so accordingly I will interpret the given charts.

Though I am 60% bearish due to double bar bearish engulfing pattern with heavy volumn. This volumn could be near the topping pattern.

But at this long red bar, I have no confirm signal so I will stand on the side. Not in a hurry to trade.

Next Bar ,
a) if it makes new low, then on following bar I am going short below the low of next bar. My stops will be at the top of long red bar.
b) if it is within the red bar, then no action. watch for following bar .
c) If it makes new high, then again stand on the side and watch the battle of buyers and sellers.

In scenario, b)and c), My entry rules for long trade will be
1) atleast 2 continuous bars showing higher highs
2) high of last bar crosses the high of current long red bar.
My stop at the other end of long red bar.

Reverse the above 2 rules for short entry below the low of long red bar..and 2 continous bars with lower lows.

For me, as long as price is withing the boundries of Red candle, it is battleground of bulls and bears..so I prefer to stand on the side as it doesn't put odds in my favour.


Happy Trading.
 

Pattel

Well-Known Member
#7
I would have been short low of last green WRB with SL high of last day. Assuming this stock has good volumes to trade, just with high volume bars not sure on that part, other days it might have 5 shares traded and those high volume bars might represent like a 50 or 100 shares.
 

pkjha30

Well-Known Member
#8
Could,t resist the temptation.

Period is too short to predict much. But as of now it seems to be bearish engulfing pattern with increasing volume so likely to break down over the weak.

If it is a penny stock, a strict no no.

If it is blue chip, put it under watch list.Time to accumulate on long term basis would be coming soon.


pk:)
 

sudoku1

Well-Known Member
#9
Ok friends. It is time to have some fun and education. Look at the chart below.



Name of the chart and X and Y axis values of the chart have been withheld for the time being. This is intentional. These have been omitted to avoid bias of whatsoever nature. Also, ignore the blue line appearing in the chart. Concentrate only on the candles and the volume histogram appearing in the background in light grey shade.

Can you make analysis of this chart? Kindly post here whatever you feel about this chart. Whatever it may be. Put it down in this thread. But only two conditions. They are

1. It must be your HONEST views/opinion

2. It must be YOUR OPINION. You should not be influenced by any one elses opinion.

If you feel that you are having a plan or two to trade this chart, post your ideas as well.

Come on friends. Let us have some fun. I shall reveal the name and x axis and y axis value of this chart on 10th January 2009. I am not posting any comment on this chart now as it is not fair on my part since I have withheld the vital information as to name, x axis and y axis values of the chart.

Give it a try.

Wishing you all the best and also a very happy and prosperous new year

R. S. Iyer
CANDLESTCKS r like Street lights along d road ....They don't make d distance shorter but they light up the path & make the walk worthwhile ......



assuming this as an EOD of 12 sessions ,i will buy on dips to hedge my short positions in nifty futs :D with a stop @ the low of 12 day:)
 

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