Timing The Markets
- Thread starter SavantGarde
- Start date
Hi All,
I am attaching a NIFTY chart with this post. Read the following with reference to the chart.
I was just trying to figure out a pattern in NIFTY SPOT chart. In the attached chart I have marked the area PQRS which is a parallelogram (almost) with the diagonals bisecting at O. NIFTY had fallen almost along the side PR and now it is falling along the oppsite parallel side QS. I have drwan a light blue line starting from the previous high on 7-12-2011 and passing through O which meets the side QS at value 5067.75 on 26-3-2012 (ignoring the intervening holidaya). The side QS joins the adjacent side RS at a price level of 4766.70 on 11-04-2012 (again ignoring the holidays).
Between August and October 2011 NIFTY faced stiff resistance at 5200 and today it has almost come near it. Therefore, 5200 should give a support or if broken would drag down to the support at 5065-5070 (the light blue line in the chart). If this also is broken, then the path along the side QS would be taken to reach 4766 around April 12th.
Today's fall was probably due to the Assembly election results. The coming events like Budget and RBI annoncement along with the US numbers may result in fall of NIFTY as marked in the chart.
-Anant
I am attaching a NIFTY chart with this post. Read the following with reference to the chart.
I was just trying to figure out a pattern in NIFTY SPOT chart. In the attached chart I have marked the area PQRS which is a parallelogram (almost) with the diagonals bisecting at O. NIFTY had fallen almost along the side PR and now it is falling along the oppsite parallel side QS. I have drwan a light blue line starting from the previous high on 7-12-2011 and passing through O which meets the side QS at value 5067.75 on 26-3-2012 (ignoring the intervening holidaya). The side QS joins the adjacent side RS at a price level of 4766.70 on 11-04-2012 (again ignoring the holidays).
Between August and October 2011 NIFTY faced stiff resistance at 5200 and today it has almost come near it. Therefore, 5200 should give a support or if broken would drag down to the support at 5065-5070 (the light blue line in the chart). If this also is broken, then the path along the side QS would be taken to reach 4766 around April 12th.
Today's fall was probably due to the Assembly election results. The coming events like Budget and RBI annoncement along with the US numbers may result in fall of NIFTY as marked in the chart.
-Anant
Re: Ttm - wip
Gold 240min Update:
I have drawn a Pink coloured Channel.... Price should have traded in this channel to keep the symmetry intact.... At the most, price shouldn't have dropped much below the low created on 29th Feb..... So, TTM Concept on this has been negated....
So, trade-wise, one should create a position only if it breaks the latest Swing High/Swing Low.... It didn't break the swing high, so trade wouldn't have been initiated on it.... Presently, same is the case with Nifty... we should initiate the trade only if it breaks the recent Swing High....
Gold 240min Update:
I have drawn a Pink coloured Channel.... Price should have traded in this channel to keep the symmetry intact.... At the most, price shouldn't have dropped much below the low created on 29th Feb..... So, TTM Concept on this has been negated....
So, trade-wise, one should create a position only if it breaks the latest Swing High/Swing Low.... It didn't break the swing high, so trade wouldn't have been initiated on it.... Presently, same is the case with Nifty... we should initiate the trade only if it breaks the recent Swing High....
Re: Ttm - wip
Nifty 5min - Update:
Okay guys.... Time for some brain-storming.... We can see that this one didn't work out as expected.... What went wrong? What could have been done differently? Anything that was missing in this chart?
Our trade would have been triggered once it broke the Swing High of 5253 that was formed in the morning today.... How should this trade have been managed....
Share your views and observations about the same....
Nifty 5min - Update:
Okay guys.... Time for some brain-storming.... We can see that this one didn't work out as expected.... What went wrong? What could have been done differently? Anything that was missing in this chart?
Our trade would have been triggered once it broke the Swing High of 5253 that was formed in the morning today.... How should this trade have been managed....
Share your views and observations about the same....
Re: Ttm - wip
Dear Aditya,
I did not expect it to work yesterday...
Such "Sudden","Quick" upmove yesterday is not a natural upmove... [ NF 45points in a single 1min bar.....]
What i thought was big guys were dumping the stocks... Well it turned out to be true when it broke yesterdays low...
I dont know how to fit this into TTM.... May be a different mechanism for such quick surges...
Regards
Dear Aditya,
I did not expect it to work yesterday...
Such "Sudden","Quick" upmove yesterday is not a natural upmove... [ NF 45points in a single 1min bar.....]
What i thought was big guys were dumping the stocks... Well it turned out to be true when it broke yesterdays low...
I dont know how to fit this into TTM.... May be a different mechanism for such quick surges...
Regards
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