Candle sticks... Leading indicators.. join Dhanvarsha for earning and learning ...

Candle sticks give us opportunity to predict future move well in advance ...
it is a leading indicator  ..
Other indicators  are lagging one...
have a look...
This article was posted  on Aug 24 2011..
when  shooting star candle was noticed on Bata .....

GURUKUL

Wednesday, August 24, 2011

bata india shooting star

shooting star seen on bata...

Definition:             

Bearish Shooting Star Pattern suggests that prices may be approaching to a top. It looks like its name, a shooting star. The shooting star is a small real body characterized by a long upper shadow, which gaps away from the prior real body.
Recognition Criteria:
1. Market is characterized by uptrend.
2. We see a white candlestick in the first day.
3. Prices then open with a gap creating a small real body at the lower end of the trading range on the second day.
4. Upper shadow of the pattern on the second day is usually at least twice as long as the real body.
5. However; second day pattern has no (or close to none) lower shadow.
Explanation:The Shooting Star simply tells us that the market opened near its low, then prices strongly rallied up and finally prices moved down to close near the opening price. In other words, the rally of the day was not sustained.
Important Factors:
Bearish Shooting Star Pattern is usually not a major reversal signal as is the evening star.
The color of the real body is not important.
An ideal shooting star has a real body which gaps away from the prior real body. Nonetheless, this gap is not always necessary.
A confirmation on the third day is required to be sure that the uptrend has reversed. The confirmation may be in the form of a black candlestick, a large gap down or a lower close on the next trading day.

on line instructions...

how to predict future moves seeing indicators...

On Aug 25 evening we noticed Doji on Bata chart...and discussed its future for 26 Aug ....

Aakash: ge

 me: hi ge

 Aakash: 720 close?

 me: no 732

 Aakash: 732 ???

  

9:07 PM 

me: after ur sleep it went up to 741

9:08 PM Aakash: isko mkt se koi lena dena hi nahi hain

 me: hai aaj iske chart ne

  superb reversal signal dia

 Aakash: are yeh kaha sunta hain chart ki

9:09 PM me: ab sunega

  unka kam ho gaya

9:10 PM perfect doji

  on daily chart

 Aakash: acha

9:11 PM me: see at c nexus

 Aakash: ok

9:12 PM me: and try to analyse ur self

 Aakash: k

9:14 PM yes

  but rsi abhi to pain dekha raha hain

9:15 PM macd is still NE and in line with histogram

 me: ok

 Aakash: Doji.. koi kamal dikhaye bas

 me: see

9:16 PM outer bollinger

  repelled

  remove all indicators

  set only bollinger

9:17 PM may to Aug tak ka c stick chart

  rt

 Aakash: ok

9:18 PM me: seeing bollinger

 Aakash: yes

  but dont see any repulsion

9:19 PM repelled from where?

 me: see wick is out side of bollinger

9:20 PM Aakash: upper bollinger, right?

 me: body is in

  ya

 Aakash: but.. we sholdnt take this was too impt.

 me: jab bhi past men aisa hua he

 Aakash: i think it gets adjusted with time

 me: centre ko aaya

9:21 PM see 1 by 1

 Aakash: give me eg on this chart

 me: bollinger 1

  see on 20 june

9:22 PM 20 june to 27 june

 Aakash: yes

  btw..

  what is the diff b/w

  candle on

 me: 16 aug to 22 aug

 Aakash: 5 aug

  and yday candle

9:23 PM me: both are reversal doji

 Aakash: but affect after 5th was opposite

 me: on 5 aug it was falling

9:24 PM 1 aug to 5 aug was fall

9:25 PM Aakash: yes

  right now the middle bollinger is at 670 level

9:26 PM me: so doji means in decision

  we will see more

  remove bollinger

 Aakash: ok

  its going mathematically

9:27 PM it always sticks to the upper fibbo level

  on fibbo fan

 me: now select momentum

9:28 PM Aakash: 10d?

 me: standard

 Aakash: yes

 me: i m not changing preset

9:29 PM Aakash: k

 me: momentum to se

 Aakash: yes

 me: agar ye blue line ko cross kiya to bata gaya

9:30 PM next

 Aakash: see b/w 7/7 to 14/7

9:31 PM moemtum changed 180 deg

  but fall was miniscule

 me: ok

  see 1 by 1

  come to next

  rsi

9:32 PM Aakash: ok

 me: on 13 june and today

  rsi is down

  bata is up

  ok

9:33 PM Aakash: yes

 me: rsi is decreasing slowly

  slow poison

  at threshold

9:34 PM Aakash: yes

 me: select stoch

  dotted line

  crossed blue 1

9:35 PM blue and red lines converging

 Aakash: yes

  what is dotted line for?

9:36 PM me: that is leading indicator of future move

  next macd

9:37 PM Aakash: ok

 me: macd signal lines not moving up as bata is moving

9:38 PM bata is too up

  macd is still below from its 11 july ht

9:39 PM Aakash: it is doing in bits and pieces

 me: yes

9:40 PM Aakash: and yes, it is below the earlier ht

 me: ye hi hota hai

  aaj hourly chart per retest kiya top

9:41 PM so

  let us see

  kal kya hota hai

 Aakash: ok

9:42 PM me: candle bada hota to spinning top tha

 Aakash: head you mean?

9:44 PM me: fat body

  thin hai to doji

 Aakash: which is more significant for reversal?

9:45 PM me: see next candle

  low close hona

9:46 PM confirmation

  jab tak nahin hoga

  chalega

9:47 PM but expecting kal neeche band hoga

  tristar banega

  let us see

 Aakash: ok

and result  bata corrected by 29 points ...

lot size 1000

Dhanvarsha cares  its valuable members...

please have a look ...

kailash Chaturvedi (8/26/2011 11:41:33 AM): sanju will u trade bata
sanjay sanju (8/26/2011 11:41:43 AM): k sir
kailash Chaturvedi (8/26/2011 11:41:58 AM): ok sell at 726
kailash Chaturvedi (8/26/2011 11:42:11 AM): 725.50
kailash Chaturvedi (8/26/2011 11:42:22 AM): sl 728
kailash Chaturvedi (8/26/2011 11:42:54 AM): 725.70 now
kailash Chaturvedi (8/26/2011 11:42:59 AM): traded?
sanjay sanju (8/26/2011 11:43:17 AM): placed at 726
kailash Chaturvedi (8/26/2011 11:43:38 AM): sell at 725.60
kailash Chaturvedi (8/26/2011 11:43:51 AM): sell at 725.45
kailash Chaturvedi (8/26/2011 11:44:58 AM): 725.45 traded is that urs ?
kailash Chaturvedi (8/26/2011 11:45:38 AM): 725.10 now
sanjay sanju (8/26/2011 11:45:46 AM): modified 725.50 that time too not trigger
kailash Chaturvedi (8/26/2011 11:48:32 AM): 724 now

We instruct our members for  not to trade according to trapping tips...


I m not sure ...why these analysts misguide innocent traders ....please have a look ...this  announcement came when scrip was under selling pressure ....

sanjay sanju (8/24/2011 3:25:30 PM): 3:18 PM - Buy Bata India with a target of Rs 760 and stop loss of Rs 710, says Ashwani Gujral, technical analyst, on ET Now. The stock is currently trading at Rs 721.15, up 0.7% on the BSE. » Send to friends
Now they have removed the call ...call  is not there...deleted as and when stop loss triggered....
socho iska kya gaya ...?????


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