Today is an evening star

[AW10]

rajputz, great siganature line.. Does that mean technical analysts look at rear view mirror whereas traders look thru the windshield ?

 

[rajputz]

rajputz, great siganature line.. Does that mean technical analysts look at rear view mirror whereas traders look thru the windshield ?

Precisely!!!!
A Swinger might be the person looking and acting on rear view mirror, where as a trader working through windshield.

A trader might get impacted by the current state what he sees every day on terminal, where as a Analyst takes the Decision and Sticks to it cause he know he has the right Position and exits at his point, whatever may be the current state.

IMO, the traders selling at panic are traders looking through the windshield, and the one still holding on the TA are looking through Rear View mirror and stick to it.

 

[AW10]

IMO, the traders selling at panic are traders looking through the windshield, and the one still holding on the TA are looking through Rear View mirror and stick to it.

Rajputz, IMO, trader selling at panic is still looking at rear view mirror. ie selling has happened in past few bars and created steep fall to panic now.

Forward looking trader / professionals know it pretty well that what comes after panic selling or what comes after bull market exuberance.

This is typical characteristic of novice or ignorent player who buy/sell after professional buying/selling is already over. In other words, buying after steep rise and selling after sell-off.
There would be some fool who sold at march-09 or Oct-08 low. do you think, it was a professional or consistently profitable trader?

Happy Trading

 

[rajputz]

Rajputz, IMO, trader selling at panic is still looking at rear view mirror. ie selling has happened in past few bars and created steep fall to panic now.

Forward looking trader / professionals know it pretty well that what comes after panic selling or what comes after bull market exuberance.

This is typical characteristic of novice or ignorent player who buy/sell after professional buying/selling is already over. In other words, buying after steep rise and selling after sell-off.
There would be some fool who sold at march-09 or Oct-08 low. do you think, it was a professional or consistently profitable trader?

Happy Trading

i think it depepnds from personality to personality....i like to hold if i know that there is not some thing wrong going on. if the TA is right i hold it and proves right. i hold cause ta tells me that whatever is happening is just panic. depends from personality to personality how he takes...

 

[vinnie]

O Guru kya hua 2 candle waale evening star or red friday ko?

iam still waiting and its evenings passing day by day no sign of downward move?

I am not sure what you want to convey. But I truely admire your patience for "still waiting". If you are in market for so long / so short (i am not sure how much time you had been in the market with real foot) you might know what is trend analysis means. Even season doesn't change from summer to winter overnight.

Also evening star doesn't mean you pass your evening day by day. You have pass morning day by day. As evening star occurs before the darkness sets in.

Wishing Lucky Trades

 

[vinnie]

i think it depepnds from personality to personality....i like to hold if i know that there is not some thing wrong going on. if the TA is right i hold it and proves right. i hold cause ta tells me that whatever is happening is just panic. depends from personality to personality how he takes...

Guys - We need to have some discipline. I believe before OGURU has to say something, I would request you all to put the discussion's limit to what the topic was initiated for.

OGURU has given a perfect analysis of what happened and what might going to happen. I Recently visited his blog and saw that he is really working as a social Trader, such kind of people are always being criticized for being successful in life.

-Vinnie.

 

[rajputz]

no body is critisizing vinnie....everybody has his own view and thats what we share here with everyone....if also we dont critisize then i dont think any system can be further modified....untill and unless negativesand unless negatives are not found, positives cannot be applied

 

[oguru]

What does candlestick say about the current pattern of maruti

To answer your query Please find the attached image. Its a 45 days candlestick pattern with volumes as a relative measurement. I highlighted all important patterns in the image itself. Please refer any standard candlestick books (such as Steve Nision)

To sum up : Maruti is showing a reversal of its bearish to bullish mode which will be evident in very few days.

Correct me if I am wrong.

 

[vinnie]

Hey OGURU thanks for the info.

Also if I talk about first 3 visible patterns in the image - it starts off with three white soldiers having small white bodies, which indicated Bearish reversal and after couple of spinning tops (white +black) we have Bullish engulfing and then followed by hammer which is a Bearish reversal pattern.

So to sum up the case, this is quite indicative that we don't need supportive indicators all the time to study candlestick pattern in larger sense. I am not saying that they are not effective.... In a trading system they are very effective...!! but if observing the candlestick pattern along with market psychology it proves its effectiveness.

Lastly, Stochastic, MACD etc.. can be used once the market is in condition of overbought / oversold situation and one has to take decision when volumes and trend lines are quite contradictory. Also in case of F&O, OI will also suffice to get the best out of supportive indicators.

-Vinnie

 

[rajputz]

To answer your query Please find the attached image. Its a 45 days candlestick pattern with volumes as a relative measurement. I highlighted all important patterns in the image itself. Please refer any standard candlestick books (such as Steve Nision)

To sum up : Maruti is showing a reversal of its bearish to bullish mode which will be evident in very few days.

Correct me if I am wrong.

thanks for the info