This is 1 min intraday chart for nifty each bar is of 1 min time, though i should say i am quite new to this financial jungle of TA(Technical Analysis)still would like to share what i learned till now,I got compelled to do this as i have seen people trading blindly when asked they say TA is not affective but i would say rather than clamouring and wasting time its better to get some good points about TA.The above chart shows nifty and if u see ema crossover generated buy signal at 2930 then at 2960 comes an ihs(inverse head&shoulder) shown as (1) which makes sure we reach green arrow target after that further move can be followed by with a help of trendline and longs can cover profits as nifty broke that trendline again we went down and made another ihs(2) though not classic one which gives way for up move so the conclusion is TA works only thing is you should know how to use it , and that will come only when we use more of the organ between out ears.
PS:-this edge is coz of live data trading if u serious about trading u need to play with live data
no shortcuts
cheers
rish
Excellant observation!!
ReplyDeleteNow Between 1:55 to 15:30 we can see another H & S !!
By the way , where is the chart man ?
ReplyDeleteHow much have you earned by trading ? huh ????
ReplyDeletegood observations my dear friend,but beware,u cant get results using too shorter period,undoubtedly ta always works,but the period is too short to act upon ,better go for atleast 30 mins.charts,also look at h and s top being developed in reliance,30=60 mins. its goin to crash man!!!!! my id bjnaik at hotmail.com
ReplyDeletethis was jst an example i do see 30 min time frames too thxs 4 commenting
ReplyDelete