Now I will try to show how to make a TRADING system out of the two....
Relative High AND Low identifier (N=10) and
Two day Swing Lines
May 23, 2020 • 10 tweets • 8 min read
A thread on how to Define correct Swing Highs / Lows for the purpose of Dow Theory analysis or drawing Trendlines:
Thomas DeMark in his book "The New Science of Technical Analysis" said that drawing
of trend lines is a highly arbitrary process. 1/n
A trend line is typically intended to connect
several Relative Highs or Relative lows. If there are two or more such points, the trend line can be drawn
precisely. (notes from Jack Schwager's book "The Complete Guide to the Futures Market").. 2/n
May 17, 2020 • 12 tweets • 6 min read
Further to my initiative of #LetsLearn where my objective is to de-code complex things & make things simple and available for analysis...
Today, I will try to make a complex looking chart into a clean & simple one (only useful for people who are PATTERN based trader/analyst)..1/n
Further as disclaimer, the presented way will be more useful for people who have followed Martin Pring's book on chart patterns.. (images taken from Kindle version of the book)
This is how see / read through #FII data.. (Participantwise category)
Quantum of Buying / Selling in. cash Market + Index Futures + Stock Futures.
How the flows are basis last 3 days? How the flows are basis current week? It give an indication which camp is strong
Starting a new series of #LetsLearn wherein I will try to present few interesting techniques in charting softwares where we can use our creativity to see different things:
cont.. @JainSumeetS@purohitjay@entrepreneur987 tagging u so that it reaches maximum people who can benefit
Topic 1: How to create Equi Weighted Charts in METASTOCK?
in F&O there r many stocks with different sectors, to create a sector chart of our own we need Symbols (example here is STEEL sector stocks) then form the formula given in the screenshot. Self explanatory.
Interesting to see how multiple things add up when price is near inflection point of new breakout. Lets see how it goes.
Today's Follow through Volume on the Upside in #BHEL speaks a lot about DIRECTION now...
#Nifty vs #S&P500 of 1987 crash ... high correlated analog..
Updated chart with longer vision... #NIFTY in 2020 vs #S&P500 of 1987
Dec 10, 2019 • 4 tweets • 3 min read
#NIFTY 500 Index - weekly chart ... Diamond pattern under construction #NIFTY 500 Index chart - Index's reaction at Psychological round number has been similar (5000 vs 10000)... question is will history be repeated.. a Blow-off rally post 10000 from here? (I feel its possible as Market breadth is improving & #Dollar Index at 4 month low)
Dec 3, 2019 • 5 tweets • 3 min read
Negative divergence observed in Breadth oscillator #NIFTY
Implication: Potential Short term correction possible from here on to the tune of 3-5%
Anticipated correction has started. Even there is reversal in Step & Ladder chart. #Nifty
#NIFTY Close-Open of last 3 days:
31st Oct'19: -13pts (NSE TO: 50.8k crs being expiry day)
01st Nov'19: +4pts (NSE TO: 42.8k crs)
04th Nov'19: +16pts (NSE TO: 40k crs)
Today's high 11989.15
Largecaps arent looking healthy at current levels.
View changes > 12042
View is intact.. maintain SL 12042..
Today's high was 12002.90
Midcap and Smallcaps are showing some weakness
Breadth wasnt good today despite the rally in Banknifty.
Oct 10, 2019 • 8 tweets • 4 min read
#BANKNIFTY Volatility at new 5 year high.
good start to #BANKNIFTY today.. similar setups like earlier occasion.. should be fast and furious from hereon...
Oct 9, 2019 • 7 tweets • 4 min read
#PSUBANK index - beaten down and oversold makes a case for mean reversion from here. #PSUBANK Index is up +3% already from observed level in 3 hours.
Nov 21, 2018 • 8 tweets • 4 min read
#NASDAQ futures - Multiple RSI divergence. Probable mean reversion pullback if closes above 6600 today. #S&P500 Futures also at crucial support
Sep 12, 2018 • 28 tweets • 16 min read
Today 4/5 guys are calling a market Bottom. #Nifty
They must be really smart if that happens.
Now at 11375 .... #Nifty .. 5/5 guys are saying Nifty bottom done.
Jun 1, 2018 • 5 tweets • 3 min read
#FTSEMIB Index (ITALY) index formed a inverted Triangle pattern which is bearish for medium term. Current pullback may halt and reverse from / near 50% retracement zone. #FTSEMIB struggling to cross 38.2% retracement also. Timewise after 16 day's of decline and pullback of 4-8 days; if it fails to cross 50% retracement mark then can trigger fresh round of sell off. #ITALY
May 24, 2018 • 6 tweets • 3 min read
Sometimes.... some charts.. are just so close to TEXTBOOK style patterns.