The channel break gave a confirmation of a reversal after a positive divergence as well as a "5 wave" move from 5293 to 4766.
I have included the monthly Pivots too now. Will fine tune the averages. Closing above the "Hour Low ema" was the first indication of the end of down move in "Hourly time scale".Closing above the "Hour High ema" was the next step along with the break of the channel. And finally closed above "Daily Low ema" which could result in a rally towards "Day High ema".
10 comments:
Dear Ilango,
It is an honour and pleasure to be associated in this blog. Time and again, your acumen in tracing the path hidden under the thick shrubs is amazing.
Didn't want to hold the Shorts once you said aggressive long at 4797..closed in profit and got out. But we would have lost your message. Hence please consider including a "My Trade" part in the (hourly) pivot table itself,which will say where you WILL initiate the trade and close it. It will take your guidance to a higher level.
Wish you will oblige us as usual.
Good Night.
Regards,
S Rajagopal
Hi..Rajagopal,
I wish to share my knowledge and experience with all my traders to bring out the best in them and make them understand the market, read it better and trade successfully.
It will end in boredom if it is not sprinkled with little action once in a while.
Whenever possible I "map out" the likely route of Nifty in the charts and I feel that helps in understanding the market better with an individual's own analysis.
I have somehow been caught up with so much of "Intraday activity" inspite of my other works and updating each hour and alerting at critical junctures have been quite time consuming as well as clouding my judgement of the market.
I am already carrying out "Conservative Trades" for the benefit of readers who can not monitor intraday. The "Aggressive trade" was discontinued as it was too much to monitor and guide at every step resulting at times in "over trading".
The moment the "pace" increases, the performance will begin to drop. There is this thin line we need to protect to survive long in this market.
As I am fond of saying..."Get rich slowly".
And a big congratulations on your "super Performance" and best wishes for the continuance of the same in the years to come.
Best regards.
ilango
Good Morning sir,
Hi..Rajagopal,
I wish to share my knowledge and experience with all my traders to bring out the best in them and make them understand the market, read it better and trade successfully.
Words to be marked sir. Thanks for your approach as a great teacher. It makes me think of a famous quote "Give a hungry man not fish but a fishing net and ways to fish" - which is what you do. Once you start giving fish the urge to dig deeper to learn will be cut down also the habit of blaming others for we not earning or losing will surface again.
Your method is the way I prefer personally. Keep going great sir!!!
Ilango sir,
I have a small problem with the hourly chart Hr.S.Macd. i am not able to change the source data values. I am able to change the series values but not the data range. Please guide. The message "Data Range is too complex to be displayed selecting new range would change the entire data" is displayed when i try to change the data range. What should be done?
hi Satheesh,
yes, plz do your writeup on EW, etc whenever you can in this site, [ofcourse, after Mr Ilango's permission]. Your earlier writeup was wonderful.
It will also take off some burden from Mr Ilango's shoulders, considering the amount of queries, basic doubts, explanations demanded here by blog participants during market hours.
And, if at all your writeups need any amendmend, then Mr Ilango would be able to do that.
This would exercise your knowledge, while freeing Mr Ilango his much needed concentration & time.
Just see, many days the number comments have reached 100 now, and a larger majority like me participate mostly silently, [in my case my browser creates problems when posting comments, I have to try atleast 3 times to make one post].
I have copy pasted to file your earlier explanation which was wonderful.
:)
with regards & best wishes
Moh.
Ilango Sir,
it was very nice to see the monthly pivot data incorporated in the tech table. I have seen it working brilliantly time and again, much more than the daily pivot. Thanks once again.
I am trying to learn about the market for last few years and at last i have got the courage to ask you about a few studies of mine. Sir, if you could check out my blog -- http://marketobsession.blogspot.com/
at your leisure and comment, it would be a great help for this student of the market.
Regards,
Dear Satheesh,
(Before doing this take backup copy of the file first, it will help to regain old file in case of any data lose.)
Place cross hair in chat area, right click. In the pop-up window select source data. Select series tab. Select one series for example series1 and change the value (=Data.H!$B$450:$B$550) approx 100 rows. If you select more rows the it will difficult to show in that plot area. So select starting rang and ending range accordingly. Repeat the same for all series the range should be same for all series.
To change the axis value, right click in the value area and select format axis and select scale and change the values as wish.
I hope this will help you. If you want more clarification please don’t hesitate to mention.
Regards
resp.ilangoji i request you to give expert view on dlf as it shos inverted hammer and positive divergence.thanks in advance.
Thanks mok. I will definetely try to do something once i feel confident. It would really be a pleasure to be of help to Ilango sir in some way or the other.
Thanks U.K. Raj i have noted the procedure.
Thanks Mr. U.K Raj. My problem is solved.
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