Tatasteel Chart - Hourly:
Thursday, September 3, 2009
Bullish ABCD pattern in Tatasteel - 3rd Sep 09
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TataSteel Intraday Chart - 5 mins:
TataSteel formed a Bullish ABCD pattern in 5 min time frame. Long trade already triggered with the stop loss of 402, one can buy in dips.
Tatasteel Chart - Hourly:
In the Hourly charts also it formed a Bullish ABCD pattern (with an error in BC retracement) Also it has formed a descending triangle in hourly charts and gave a good break down for that pattern, trade can be taken with caution. If it reaches the target for the intraday pattern and also breaks out of the horizantal neckline at 433 with good volumes, I will trail for the targets of the ABCD pattern in hourly (454-456).
Tatasteel Chart - Hourly:
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4 comments:
doji,..
just a view on indian peoples mentality----
appreciated all ur patterns,and most important its nice to learn.
firstly im glad to see u have some very good visitors of ur blog who respect charting and technical anlysis.
I deeply enjoy charting and trading in stk mkt on basis of charting and technical analysis is a passion and i worship it.i believe in charting to the core and believe that its possible to forecast future moves of prices on basis of charts,even if charts and technical analysis it is possible to trade even if u dont have news and fundamentals.
wht i have seen in 1 yr of my careeer is ---in country like india,people look at stk mkt as a type of gambling or with lottery mentality.and majority of persons believe stk prices move randomly.people believe stk mkt is all abt luck.i tried my lvl best to promote stk mkt within my locality,and make then look at stk mkt as bussiness and not gamble.one factor is deeply penetrated in peoples mind--that stk mkt means loss only.even after such conditions and visitors in india---i m pleased to see u have such nice visitors respecting technical analysis..thts great achievement.
hi..
i got amibroker,but now im looking for setting up of my amibroker to the best settings,and getting data..
so had some queries which if possible could u help me,as u been using amibroker,im a learner want to learn as much as possible..it would be a great help if u could help me on amibroker.
could u send me ur mail id--so that i could get in touch through mail,abt my queries on ami ,and nevermind do take ur own time to answer,on mail..
my id is --yav1@ymail.com--plz send accross ur mail id.
is there any means --i mean r u available on ymsgr orany msgr?..
Nice to know how much you adore technical analysis and trading. I too share the same interest.
In my opinion, the way people look at stockmarket like gambling does not change much based on the country. But I agree with you, after all, every one likes easy money :)
To me, all that matters is how you manage your trading, which boils down to money and risk management. Like, when I identify 4 potential trades, it takes more thinking on "how to trade them" than "identifying them". I believe that to be a successful trader, it depends on 70% trade management, 20% skill (tech/fundamental analysis) and 10% luck.
Coming to visitors, we seem to have about 40 Lakh active retail investors and the visitor count is minuscule :) Even old forums like traderji have only some 80K people registered and with only a fraction of them online. Which means there are many many more gamblers gambling in the market than analysts trading with a reason!
I started writing up some help for importing data into Amibroker. May be I will be able to post it over weekend. I would prefer if you ask your queries on the blog itself. but if you want to mail it to me, do so at doji@chartreader.co.in
Doji
Please post your comments on Sesa Goa.It is ripe for take off.
Sam
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