Applying Technical Analysis


posted by mayurs on Wed Oct 17, 2012 03:07 am

#1
The weekly chart of Pantaloon suggests that the stock has pulled back towards the support of the descending trendline. Also the pull back by the stock is with low volumes as compared to the breakout. If this support of the descending trendline holds, than position traders can look for long positions by taking a look at the daily chart or a 30 mins. chart for a trigger. Do not look for long until the lower time frame (daily chart or a 30 mins.) chart gives a buy. Use a close past the Pivot high or a moving average cross over on the daily chart. Mayur

Attachments

Pantaloon.JPG

posted by saamuu on Wed Oct 17, 2012 04:13 am

#2
good to see u mayur sir ,back in action

posted by mayurs on Wed Oct 17, 2012 04:22 am

#3
I was always in action on your thread. Thought of putting something for position trade. As it was a little different than your Woodie and Ekkiot, I thought of starting something where I look at a few ways I trade. The formation in Pantaloon is there, waiting for a trigger to look for longs....Mayur

posted by sanjay on Wed Oct 17, 2012 04:46 am

#4
thanks mayurs...

posted by ajit on Thu Oct 18, 2012 02:49 am

#5
thanks sir for ur thread

posted by mayurs on Thu Oct 18, 2012 03:37 am

#6
Here on this thread I will be using different indicators which I usually use for my trades. One of the nice use of Woodie's CCI is the "SLIGSHOT TRADE". In this I use two moving averages, a 14 days Woodie CCI and the 6 days Turbo CCI. In an uptrend when the smaller moving average is above the large noving average and both these moving averages are rising, we look for the Turbo CCI to pull back towards the -100 level and the 14 days CCI to pull back towards the zero line. Than we look for the V hook to form on the Turbo and look to buy above the candle high with a stop just below the same candle low. Today, I had picked up Axis bank using the above SlighShort buy and once the stock moved past the the 2 weeks high, I held on the position. Generally, the trades are not so strong and I look for profits using Fibonacci extension. This system will work on all time frames, namely, 5min., 15mins., 30mins, 60mins and also the daily charts. The bigger the time frame, the larger the gains but the stops are also far away. This is a nice way of using the Woodie CCI wherein the initial stop is quite near. This is a swing trading system where we are trading with the trend. Usually I trail the stop as the stock moves higher and look for profits at the 1.272 X the earlier minor decline and 1.618 X the earlier minor decline. Another trade which I took today was IDFC. This is also a nice SlingShot Trade on the long side. The parameters are the same. The stock exactly made a high which was 1.618 times the minor decline and I booked profits at both these places. Mayur

Attachments

IDFC.JPGAxis Bank.JPG

posted by manjunath on Thu Oct 18, 2012 04:26 am

#7
mayurs arent both simple ZLRs

posted by mayurs on Thu Oct 18, 2012 04:30 am

#8
Manujunath....Yes, both are simple ZLR's but the one main difference here is that we look for a trend in this case while in just the zlr, we do not see this. Hence this becomes a high probability trade....I hope you get this.....When there is trend, we are looking for pull backs within the trend......Mayur

posted by sanjay on Thu Oct 18, 2012 04:44 am

#9
wow mayur really nice trades...hope this will help fellow NPians ho to identify swing trades using woodies...Good job

posted by mayurs on Fri Oct 19, 2012 02:29 am

#10
Woodie has never mentioned in his work or in his videos to check higher time frame. I remember him saying in one of the videos to stay put in the time frame we trade. However as Saamuuji suggest and also my trading style is to look at nultiple time frames, I know that this will help. In the SlingShot trade, we just look at the direction of the moving averages in the time frrame we trade. Infact the articles which I had read suggest just one moving average, but I look at 2 moving averages and this gives me a better visual effect. Also, the advantage wuth this Sking Shot trade is that we are trading with the trend. It is very common for people to say "Buy in a Dip" or "Sell the Rally". But no one tells when and where. The Sling Shot gives us exactly this. This is one of my "Bread-Butter" trades. Mayur

posted by mayurs on Fri Oct 19, 2012 04:07 am

#11
Today's Sling-Shot trade was not profitable. The attached chart shows the buy signal (green arrow) and the long position was taken just above the candle shown in PNB. The stock moved higher in the next 15 mins. but higher levels were unsustainable and soon the Woodie CCI dropped below the zero line and the stop was triggered for a small loss. This is the biggest advantage of the Sling-Shot trade. The stop loss level is very near and this makes traders quite comfortable. At the time of taking the trade the market breadth was positive, but soon weakened. Mayur

Attachments

PNB.JPG

posted by arvindeept on Fri Oct 19, 2012 05:02 am

#12
good start mayur ji.....pls keep shaing.....:)

posted by manjunath on Fri Oct 19, 2012 09:48 am

#13
mayur got it. but even in ZLRs we check the trend in higher time frame to confirm. seems like the trend is inherent in SLIGHSHOTS, right?

posted by mayurs on Sat Oct 20, 2012 03:37 am

#14
This is a wonderful, thought-provoking, one minute clip. Full of wisdom. . . . and very brief. It's not a joke, it's not religious, it's not political. It's just . . . special. http://www.youtube.com/watch_popup?v=Hz ... &vq=medium

posted by manjunath on Sat Oct 20, 2012 05:20 am

#15
mayur good that u r posting evryday trades. hoping that u will continue this if its convenient for u

posted by mayurs on Sat Oct 20, 2012 06:11 am

#16
Sensex Fibonacci Time Cycles.... The chart I have attached indicates the possible reversal dates as per the Fibonacci Time cycles. In the last week we have a number of these dates indicating that we would have choppy week and we saw this. Now, the next dates which these Time Cycles are saying are on the 24th. and 26th. Oct. We have a holiday on the 24th. Oct and these Time Cycles will move further to 25th. and 27th. Also, 27th. is Saturday and this cycle will extend to 29th. Thus, we have two important Fibonacci dates coming up and they are on the 25th. and 29th. The tolerance for these dates are +/-1 day and lets see if we see reversals from one of these dates. Moreoever, we now have just few dates in the current month and suggest trending period in the week and time to make money while trend trading. Mayur

posted by mayurs on Wed Oct 31, 2012 03:05 am

#17
The sensex tested the 38.2% retracement yesterday and witnessed some bounce today. Staying below yesterday's low of 18,393 will mean lower levels towards the 50% retracement of 18,200-18,111 or lower towards 18,104. The next Fibonacci time cycles fall on the 6th and 8th. Nov. +/-1 day and usually when the price and time cycles meet, we have an important reversal. Thus, keep a wacth at these supports and the time cycles in the coming week. Mayur

Attachments

sensex.JPG

posted by saamuu on Wed Oct 31, 2012 03:49 am

#18
thanks mayur sir.. helpfull for me in timecycle

posted by mayurs on Wed Oct 31, 2012 09:49 am

#19
Saamuuji.....I am trying to add Gann time cycles in these charts. These are fix dates and will soon combine, Fibonacci and Dann time cycles.........Mayur

posted by saamuu on Thu Nov 01, 2012 04:19 am

#20
wow tht video is too gud mayur sir,, morning itslef i got goosebumps..wat an diferent approach...


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