personally. i have seen this pattern on indoagri counter.. i remembered that it was playing alot in 1.5 range,for about 1 or 2 weeks, and then boom to 1.6,1.7,1.8 quickly...

hopefully midas also forming a very strong foundation at 0.83

richtan      ( Date: 03-Sep-2009 10:33) Posted: Rate This Post:   Good Post   Bad Post   richtan Elite MIDAS   /   Midas   /   Posted: 02-Sep-2009 10:07      4Go to Message x 1 x 0 Below is my chart analysis for sharing and exchange pointers. My TA chart is posted to share n exchange pointers with those TA practitioner whom believes in TA.   If u are a TA detractor, plse just ignore n refrain from peeping at my chart posting n start making unconstructive comments and plse do not be so childish or lunatic as to abuse the rating system by rating it as "bad post", accumulating for yourself and your next generation, "bad" karma for your "bad" deeds. If u think it is a bad post, then be constructive and kindly post your TA for sharing. This is only my view n I may be right or wrong, so dyodd and SOBAYOR.

Hi shweli,

Hi jazzoff,

U r most welcome but remember, do not follow my charting blindly as I m a mere mortal w/o divine powers n may also be wrong, so dyodd n BOSAYOR.

The fibo lines also serve as support n resistance, when any of the % line is broken upward n price close above it, tat resistance is broken, on subsequent pullback, if it did not break below it, it becomes the support but if it again broke below it, it again becomes a resistance.

Look forward to your chart posting to exchange pointers, dun worry about mistakes, we all learn in the process, tats why I post my chart, not to show-off my skill, but to exchange pointers n learn from others.

Hi jazzoff,

U r most welcome but remember, do not follow my charting blindly as I m a mere mortal w/o divine powers n may also be wrong, so dyodd n BOSAYOR.

Read my reply to raymondho below on how I draw the parallel line, it serves as resistance n support.

Look forward to your chart posting to exchange pointers, dun worry about mistakes, we all learn in the process, tats why I post my chart, not to show-off my skill, but to exchange pointers n learn from others.

jazzoff      ( Date: 03-Sep-2009 01:36) Posted: Hi richtan, Many thanks to your TA sharing and teachings. Having observed your TA analysis and read up the recommended websites and books, the learning process had been valuable and I am very grateful to you for that as I am still in the formative stages of picking up TA. Similar to other forumers in this thread, I too am vested in this counter and have been doing a little charting to plan my trade albeit the steep learning curve. However, please pardon me for asking a silly question as I am still a little unclear about certain charting techniques: Could you kindly explain the significance of the diagonal blue parallel lines and how do you determine where they are drawn. Please kindly advise. Thank you. richtan      ( Date: 02-Sep-2009 21:51) Posted: Below is my chart analysis for sharing and exchange pointers. My TA chart is posted to share n exchange pointers with those TA practitioner whom believes in TA.   If u are a TA detractor, plse just ignore n refrain from peeping at my chart posting n start making unconstructive comments and plse do not be so childish or lunatic as to abuse the rating system by rating it as "bad post", accumulating for yourself and your next generation, "bad" karma for your "bad" deeds. If u think it is a bad post, then be constructive and kindly post your TA for sharing. This is only my view n I may be right or wrong, so dyodd and SOBAYOR.

Hi richtan,

Many thanks to your TA sharing and teachings. Having observed your TA analysis and read up the recommended websites and books, the learning process had been valuable and I am very grateful to you for that as I am still in the formative stages of picking up TA.

Similar to other forumers in this thread, I too am vested in this counter and have been doing a little charting to plan my trade albeit the steep learning curve. However, please pardon me for asking a silly question as I am still a little unclear about certain charting techniques: Could you kindly explain the significance of the diagonal blue parallel lines and how do you determine where they are drawn.

Please kindly advise. Thank you.

richtan      ( Date: 02-Sep-2009 21:51) Posted: Below is my chart analysis for sharing and exchange pointers. My TA chart is posted to share n exchange pointers with those TA practitioner whom believes in TA.   If u are a TA detractor, plse just ignore n refrain from peeping at my chart posting n start making unconstructive comments and plse do not be so childish or lunatic as to abuse the rating system by rating it as "bad post", accumulating for yourself and your next generation, "bad" karma for your "bad" deeds. If u think it is a bad post, then be constructive and kindly post your TA for sharing. This is only my view n I may be right or wrong, so dyodd and SOBAYOR.

Hi richtan,

I m learning your TA all the way and help a lot help to decide to me. Thanks. One more question. Regd to Fibo, how to diff. Resistance and Support?

Thanks.

Hi raymondho,

I m using chartnexus "draw parallel line" feature joining the high to high in a downward direction and then drag the lower parallel line down to the lowest low possible (see my chart to understand).

See below chart on fibo retracement, the current price of 0.81 is between 23.6% to 38.2%,.

CCI, MACD, RSI, etc are all lagging indicators.

MACD has not yet show any crossover as I mentioned it is a lagging indicator.

To see leading indicator, must know how to spot reversal candle: