JP Associates formed a Descending Triangle, target can be around 220 levels. One can go short in the retest watch out for low volumes in the pull back to enter the trade.
Wednesday, July 29, 2009
Descending Triangle in JPAssociates
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JP Associates formed a Descending Triangle, target can be around 220 levels. One can go short in the retest watch out for low volumes in the pull back to enter the trade.
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8 comments:
DOJI...
DO U GIVE MORE IMPORTANCE TO VOLUMES OR JUST SEE THE BREAKDOWN AND BREAKOUT...
LIVE MARKET MAP...
http://immarketmap.blogspot.com/
http://intermarketanalyzer.blogspot.com/
Dear Doji,
I had question on distance of 50%-80% of triangle yet I cant understand if possible plz explain it on CHART.I have some question on Gartley Patten also.In your morning post you told that nifty formed bearish Gartley Pattern.It had ratio like :78.6/78.6/127%. What is the exact ratio.Becoz I have seen on Harmonicpatterns.com.it was like this:-.618/.786/1.618.It means AB=61.8%of XA,BC=78.6%of AB,and CD= 161.8% projection of BC.
What is the thumb rule for this kind of pattern how to identify VALID and INVALID PATTERN.
Dear Doji,
Your blog is making me crazy it is very helpful and day by day improving my trading style also.Today nifty had just taken support near @4416 which is gap of 22nd-23rd july.From there nifty had moved up.PLZ kindly focus on the previous comment also.
Dear doji one more remain to ask,in gartley pattern where we should enter our trade how to derive the target.SORRY FOR INCONVENIENCE OF POST
excellent analysis once again doji...keep up ur good work :)
@Viji,
Here is the chart with above triangle marked with points A and B. Breakout should happen between 50%-80% of this range.
http://img193.imageshack.us/img193/4581/jpassodescendingtriangl.png
what you asked on Gartley needs a longer explanation. Please refer to http://fb.esnips.com/doc/9bf1ca9d-92d0-4846-b373-bb48c2371da2/Gartley-Pattern
@chenna
Thank you.
Thanks Doji for the pdf on gartley pattern. This is what i was looking for..
Thanks once again.
Ashi
Dear doji, thanks for taking your precious time to clear my doubt and for your quick respomse towards reader.
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