Your honest opinion please

[sudoku1]

This is the yearly chart of sensex. !!

right friend ,i m with u....its the yearly graph of sensex or nifty & i will short it only on a monthly pullback.

 

[AW10]

This is the yearly chart of sensex. !!

Original question is - What will be our action to trade this chart ?
I don't this RSI has asked us to guess the scrip.

As per my understanding, basics of TA doesn't care for scrip, timeframe, price levels. Those rules are universal and can be applied to any liquid mkt/ chart/ timeframe.

Happy Trading.

 

[rajatheroyal]

I will short the stock on breaking of the low of the last candle.

 

[karvy]

candles7,8,9,10,11 are bullish candles with higher volumes preceded by low volume small bearish candles. is the last bearish candle a decline in an uptrend? i will buy with SL at low of 7th candle.

 

[RSI]

Original question is - What will be our action to trade this chart ?
I don't this RSI has asked us to guess the scrip.

You are perfectly correct. Infact in my original post itself I have clearly stated that chart name, x axis and y axis values have been intentionally withheld so as to avoid bias of whatsoever nature.

 

[Capricorn]

BUMP, I think we need more participation.

 

[RSI]

BUMP, I think we need more participation.

Exactly. I agree

 

[AW10]

I think people can't accept to be wrong (specially in public forum). Typical human psychology, I guess.
Come on Traders.. don't be shy of proven wrong by this puzzle. Atleast, u will not loose any money here even when your stop is hit..
Aren't we prepared to be proven wrong by market at anytime. What's big deal if a trade goes against you.. (provide u have placed the Stop loss correctly).

Happy Trading.

 

[Mowgli]

Ok friends. It is time to have some fun and education. Look at the chart below.

Name of the chart and X and Y axis values of the chart have been withheld for the time being. This is intentional. These have been omitted to avoid bias of whatsoever nature. Also, ignore the blue line appearing in the chart. Concentrate only on the candles and the volume histogram appearing in the background in light grey shade.

Can you make analysis of this chart? Kindly post here whatever you feel about this chart. Whatever it may be. Put it down in this thread. But only two conditions. They are

1. It must be your HONEST views/opinion

2. It must be YOUR OPINION. You should not be influenced by any one else’s opinion.

If you feel that you are having a plan or two to trade this chart, post your ideas as well.

Come on friends. Let us have some fun. I shall reveal the name and x axis and y axis value of this chart on 10th January 2009. I am not posting any comment on this chart now as it is not fair on my part since I have withheld the vital information as to name, x axis and y axis values of the chart.

Give it a try.

Wishing you all the best and also a very happy and prosperous new year

R. S. Iyer

In my understanding it is a bearish engulfing pattern, since the body of the last red bar engulfs the body of the previous green bar. Hence, I will attempt to short if the next bar (to be formed) takes out the low of the last red bar with stop at the top of the (same) red bar. Otherwise no trade for me.

Regards

 

[RSI]

Hello friends,

First of all, thanks to all those members who have whole heartedly participated in this thread and have expressed their honest views on the chart shown in the first post of this thread.

Finally 10th January 2009 has arrived. Time for promised disclosure has arrived.

It was the yearly chart of Sensex from 1997 onwards. As promised, I am posting herebelow the image of this yearly chart with all details i.e. name of the chart, x axis value and y axis value. This is redundant now as some members have already identified the chart and in their excitement they have disclosed their findings in this thread as well. Most probably they did not read my first post properly. Anyway, let us forget all this. But, promise is a promise and it must be fulfilled.