trading futures on technical analysis with toocool

[toocool]

when i saw anna movement and corelated with charts , i was stunned

it makes perfect sense

Negative social mood infact fuels anger/down swing, in society and it not only shows in stocks but also it shown on roads this time

Most Probably that's the reason for good news all throughout when the markets are in bull runs and all sorts of bad news as markets are in downturn.

I will rephrase above statement, because of positive social moods things are all positives and also markets are cheerful...... And in negative moods, bad mood results in bad things and falling markets

 

[toocool]

this screenshot was taken on falcon software 2 years ago , it shows 26/11/2008 at the time when karachi stock exchange was probably closed for extended weeks due to heavy selling or very near about that but as you can see markets had been falling really hard for quite a few months .......remember 26/11 in mumbai ?

due to very negative social mood they attacked indian soil to take revenge , due to negative sentiments in their society, same thing happened when UAE markets were falling hard in 11/9/2001 , they attacked AMERICA.

angry ,dissatisfied,filled with hatred and negative moods, terrorists taking revenge from "their" enemies

 

[toocool]

now we will find about how social moods make or break governments

in the chart above you can see we in india were in a very sideways social mood from point "A" to point "B", it is said that if social moods are positive just before elections it benefits the ruling party ............but if the social moods are negative just before election it goes against the ruling party

no single party could come in power because social moods was sideways from point "A" to point "B",it was not positive atleast , it was all coalition governments period , even in 2003-04 election congress didnt come with majority , and only after elections markets rallied for 5 years

even in elections of 2009 at point "D" markets were not exactly in positive social moods , all of you must remember , congress was only a largest party , and only got away due to alliances .....right?

 

[toocool]

as for the market outlook and update , i have not been a banknifty follower but started watching it recently and i think its very bearish as of now

whenever i have seen 20 ema so downward sloping , and if and when the scrip has returned to test it and failed to remain there , it has always been very bearish , just look at the sharp slope of 20 ema towards down , its not a good sign , that too on a weekly chart ,compare it with earlier instance in banknifty itself ,the 20 ema slope was already so down and when price went to test that , sharp fall happened afterwards

it means markets looks very tough times ahead and the worst may not be over yet , including nifty and sensex

 

[toocool]

early breakdown of the right shoulder is even more bearish , it means bears are so much in control that bulls couldnt even defend the neckline for optimum period , that is equal or near equal to left shoulder ............targets of below 5500 are expected to be met rather sooner than later

 

[toocool]

there is a bearish head and shoulder pattern in the making (most probably) on hourly as well as daily charts , a break of neckline below 5800 will confirm a top and lower levels , probably much lower than the pattern itself because it will also mark the reversal of the uptrend and a major downtrend should start .

the pattern itself will take more days to complete , probably till 1 october and will coincide with america debt ceiling issue , a break above right shoulder will negate this pattern

this earlier post i am quoting for reference purpose

 

[toocool]

DSM sir , just for you

market taking support live in front of our eyes at 38% of the whole move from 5120-6142 ....................38% @5751

it doesnt mean that market will stop and reverse from here to up for sure, market will do what it has in mind but for last 3 hours atleast markets held at this level , this is last support for the bulls . beyond this bear ,bear ......

so whenever someone says markets are just manipulation ..............throw some charts on his face after applying fibo and watch him go red.lol

 

[DSM]

Thank you TooCool. Much appreciated. Do keep posting, always a pleasure to visit your thread.

DSM sir , just for you

market taking support live in front of our eyes at 38% of the whole move from 5120-6142 ....................38% @5751

it doesnt mean that market will stop and reverse from here to up for sure, market will do what it has in mind but for last 3 hours atleast markets held at this level , this is last support for the bulls . beyond this bear ,bear ......

 

[toocool]

At close I closed major part of my shorts as there's news event this evening of USA government shutdown or whatever, will reinstat it soon hope without much gap down, but with gapup

Made some 200+ points, still holding very small position still, but won't bother me much Incase of a gapup, trend remains down

 

[toocool]

i am 100% out of shorts and now long 50% qty @5823, reason?

38% fibo level is holding out even after the shutdown USA . rest longs will be created on thursday after looking market action

also, a small bullish (inverted) h&s pattern has been made today on 15 minutes chart , it may be breaking out anytine now , probably markets has started reversing on the upside , lets see

DSM sir , just for you

market taking support live in front of our eyes at 38% of the whole move from 5120-6142 ....................38% @5751

it doesnt mean that market will stop and reverse from here to up for sure, market will do what it has in mind but for last 3 hours atleast markets held at this level , this is last support for the bulls . beyond this bear ,bear ......

so whenever someone says markets are just manipulation ..............throw some charts on his face after applying fibo and watch him go red.lol