Thursday, April 11, 2013

Nifty makes another "Pin Bar" after yesterday's Pin Bar.



9 comments:

venkatapathy l said...
This comment has been removed by the author.
deepak pinto said...

sir
today was a whipsaw shakeout day. typical of a b wave in a x mode. the ending was with a positive bias for now.

SJkolkata said...

Nifty Future OI at 2Cr+ to be watched carefully.
Any directional move from here is capable of giving 400-500pnts.
This kind of OI not seen in last 18-20 months.
Thats my understanding, I may be wrong and seniors are requested to comment.

Sidhharth Noman said...

Sir , Is today's candle confirmation of yesterday's pin bar or the situation is unresolved as yet?

Immortal said...

both yesterday and today's pin bar candlestick formation are fake!!

Dont be misled and read the below to build your understanding.

http://www.dailyfx.com/forex/education/trading_tips/learn_to_trade_dollar/2012/04/27/How_to_Trade_Fake_Pin_Bars.html

Immortal said...

SJkolkata....Ur alert is well noted and add to it the VIX level which is above its 200 dma...i dont need to get into the history to read the signal...

Immortal said...

this is just a sucker rally which will get sold into soon...avoid longs at any cost as risk reward is totally into favor of shorts now...

mmarketman said...

I think y'days PIN BAR is valid....today's not as it's price action is not out of earlier price level....

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