Wednesday, July 15, 2009
Head and Shoulders in Dow Jones - 15th Jul 09
Above is the Daily chart of Dow Jones marked with Head and shoulders pattern, prices moved above the neckline. One can clearly see that the breakdown didn't happen properly and this present up move is obvious. This present up move is also not with good volumes, so there is an equal chance of forming a second right shoulder here. If this pattern fails we may see good up moves in near future.
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5 comments:
hi doji... a request to u ... i wanted a AFL that wud give me a scanned results of all stocks that are above their last day closing price as well as below... i would like this AFL in the real time scenario... As far as i know code writing .. the following code will have u to switch to the daily mode and scan.. I know that theere will be a lot of mistkes in my written code :)
Buy = Close > Ref( Close , -1 );
// -1 means previous day
Sell = 0;
Short = Close < Ref( Close , -1 );
Cover = 0;
PlotShapes(IIf(Buy,shapeUpArrow,shapeNone),colorGreen,0,L,-15)
;
PlotShapes(IIf(Sell,shapeDownArrow,shapeNone),colorRed,0,H,-15
);
buy = ExRem( buy, sell );
sell = ExRem( sell, buy );
are you using automatic analysis? if yes, I think you need to go to "settings" and change "periodicity" to what ever you want and run.
if you want live, you can just drag-drop this your afl on your price chart and you will get the arrows.
change your code to below
--
Buy = Close > Ref( Close , -1 );
// -1 means previous day
Short = Close < Ref( Close , -1 );
Sell = Short;
Cover = Buy;
PlotShapes(IIf(Buy,shapeUpArrow,shapeNone),colorGreen,0,L,-15);
PlotShapes(IIf(Sell,shapeDownArrow,shapeNone),colorRed,0,H,-15);
Buy = ExRem( Buy, Sell );
Sell = ExRem( Sell, Buy );
--
Doji
thanks doji for ur quick reply... :) it seems that i know a bit abt coding :)
hi doji,
I am Jay. I do technical analysis. I am a option arbitraguer. i dont really beleive in tips or news just work on my technical.
M frm Mumbai i got frnds in mumbai/delhi duing technical analysis, some are trader I purely beleive in strong frndship build up so we can help each other and grow.
I just go through ur blog. I trully appreciate ur effort. i seen ur amazing xplanations. One think i really lik abt u is ur not only duing things good but helping others to do so... as i beleive in same.
frnd i really wann share some qn. i cud be needed piece of advice.
but first i really like to here from u wts ur good name and profile..
My Id is J.palshetkar@gmail.com
Tc friend.
A Wellwisher.
Hi Jay, you could email me at doji [at] chartreader.co.in
Doji
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