Hi Vinod,
I have been following your thread for a while. As much as, this disciplined trading reduces the potential indecisive exits and reduces losses, it will show best results in a confirmed trending movement, i.e. if the market moves up or down 1000 points.
I too subscribed to the fact, as Robin mentioned on the double top, but if the double top situation was to indicate bearishness, we would have not seen a pull-up on December derivatives (probably a triple top in a couple of days????). My model shows about 6300 as December close, but we should see a bottom somewhere 5350 before that.
Robin, Vinod - thanks for your analysis, that helps me re-look at my readings.
I have been following your thread for a while. As much as, this disciplined trading reduces the potential indecisive exits and reduces losses, it will show best results in a confirmed trending movement, i.e. if the market moves up or down 1000 points.
I too subscribed to the fact, as Robin mentioned on the double top, but if the double top situation was to indicate bearishness, we would have not seen a pull-up on December derivatives (probably a triple top in a couple of days????). My model shows about 6300 as December close, but we should see a bottom somewhere 5350 before that.
Robin, Vinod - thanks for your analysis, that helps me re-look at my readings.