simply stock future charts

[Somatung]

BULLISH WOLF WAVE IN TATA STEEL

What about "Bearish Wolf Wave"? as to me it looks bearish. But this is individual choice like I see your chart and your ranges you post in this chart.

Have a nice day / Dan

 

[sangram1705]

What about "Bearish Wolf Wave"? as to me it looks bearish. But this is individual choice like I see your chart and your ranges you post in this chart.

Have a nice day / Dan

Hi Dan,
pl refer to the images:

sorry to reply late. I saw ur post long back, but before replying I wanted to do further analysis.

Thanks a lot !!!!!!!!
Just after I saw ur post, I was in a little confusion, & after further analysing I am more confident.
It took time to reply coz:
1) I was referring to Street smart- Linda
2) On weekly & daily charts I found confluence.

So I would like to go ahead with my plan.
Thanks

 

[vijaim]

hi sangaram
I see you use mt4 platform for your stock future analysis.. do you pay for this platform usage or your broker provide this for free?
regards
vijai

 

[mastermind007]

BULLISH WOLF WAVE IN TATA STEEL

Sangram

AFAIK Wolfe waves upper and lower lines are not supposed to be parallel to one another... They are meant to intersect each other... Lower points helps you get ETA and upper point gets you EPA.

Entire shape is like this.

 

[mastermind007]

HCLTECH expected to fall after a very rapid ascent ....

Butterfly Bearish Pattern...

 

[sangram1705]

Sangram

AFAIK Wolfe waves upper and lower lines are not supposed to be parallel to one another... They are meant to intersect each other... Lower points helps you get ETA and upper point gets you EPA.

Entire shape is like this.

Thanks for your detailed observation.
Ye, you are absolutely correct. The lines cannot be parellal, since parellal lines don't converge.

But after getting 1& 3 points. I connect them with a line. At Point 2 High, I draw a line parellal to 1 & 3. Pl note we have not yet got point 4. After a top is formed at point 4, it should in no case cross the parellal line that we have drawn earlier.

Thanks

 

[sangram1705]

hi sangaram
I see you use mt4 platform for your stock future analysis.. do you pay for this platform usage or your broker provide this for free?
regards
vijai

DEar Vijai,
I pay for the data feed only. The platform is available for free download.
Thanks,

 

[Somatung]

Hi Dan,

sorry to reply late. I saw ur post long back, but before replying I wanted to do further analysis.

Thanks a lot !!!!!!!!
Just after I saw ur post, I was in a little confusion, & after further analysing I am more confident.
It took time to reply coz:
1) I was referring to Street smart- Linda
2) On weekly & daily charts I found confluence.

So I would like to go ahead with my plan.
Thanks

Hi and thanks for your profound reply. With the charts you added it looks a bit different and the bullish view can be token after you showed and explained it with an expanded view. But thats the problem in general with all the charts when seeing only one time frame. Now market must prove it and if entered the trade around your shown level, then you are fully with the move. :thumb: And yes, Linda Br. is great. I did read the mentioned book a long time ago.

Take care and have a nice day / Dan

 

[Riskyman]

Thanks for your detailed observation.
Ye, you are absolutely correct. The lines cannot be parellal, since parellal lines don't converge.

But after getting 1& 3 points. I connect them with a line. At Point 2 High, I draw a line parellal to 1 & 3. Pl note we have not yet got point 4. After a top is formed at point 4, it should in no case cross the parellal line that we have drawn earlier.

Thanks

Hi Sangram, Just take a look at the black line i have drawn. It was resistance on 3 occasions and price eventually broke out. The stock should have ideally been making HH and HL after the breakout but unfortunately price fell below this previous resistance (which was now support) and trading much below that. Demand area is somewhere around that 350 area. I would initiate a buy only if i see some consolidation around this level with stops just below the lowest low. CMP is about 375 so expect price to drift down to 350 levels soon.

 

[rajesh0000]

So does this negate BULLISH WOLF WAVE IN TATA STEEL.