Below is the 30 min chart:
Friday, July 10, 2009
ABCD Pattern in HDIL - 10th July 09
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ABCD Pattern in HDIL, also there is possibility of inverted head and shoulders. Will update if the Head and shoulders pattern completes.
Below is the 30 min chart:
Below is the 30 min chart:
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2 comments:
Doji..wanted to ask u something abt garley's.The charts that we diss here are of 5 , 15 , hourly timeframes
1. So do we have to scan every timeframe for locating a gartley ?
2. can it happen that we have a bullish hourly gartley and a bearich 15 minute one.. so which one would we take ?
3. CD = AB ..CD = 1.382 or 1.618 AB is also a posibility .. so do we take look at the bars or volumes at CD = AB to take a postion ??
Guess i have typed a lot :) do take ur time to answer ..
PS :- waiting for the price AFL :)
1. Yes, I scan every timeframes which decides my holding period and some time give me an early exit or reversal (lower timeframes).
2. Bullish in hourly and bearish in 15 mins should be quite difficult as just 4 15m bars make 1 hourly bar. But I guess your question is about higher and lower timeframes, and its possible to have like bullish in higher TF and bearish in lower time frame when the time frame difference is big, like daily and 5min etc. And with big timeframe difference, there is no confusion of which one to choose, right? :)
3. In general, the slope of CD should be steeper than AB. So bar count helps.
Posted my price AFL.
-Doji
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