- Usually the diamonds break on the down side(not a thumb rule). It is know for its bearishness. they call it the diamond top.
- this one in hourly chart has given a break out towards the upside.
- will it sustain already it's looking doubtful.
thank you
June 1, 2010
DOW JONES HOURLY CHART IN A DIAMOND
EUR/USD DESCENDING TRIANGLE PATTERN
- EUR VS USD is forming a descending triangle.
- The pattern gave a false break out on the down side.
- Price has come back in to the channel.
- The lines of triangle is converging so this one will be resolved soon.
Thank you
RUSSELL 2000 INDEX BULLISH FLAG
- Russell 2000 index is forming a bullish flag.
- On break out it can give around 40 points on the break out.
- The pattern is valid only if it breaks the above sloping line.
- caution: have stop loss just beneath the break out point as chances of false break outs are there too.
thank you
SP 500 WILL TRADE IN THE SMALL CHANNEL FOR SOME TIME
- SP 500 WILL BE STUCK IN THIS SMALL CHANNEL FOR SOME TIME BEFORE GIVING DIRECTION.
- ONE CAN TAKE A TRADE IN THE DIRECTION OF THE BREAK OUT.
- CAUTION: A FEW POINTS BELOW THE BREAKOUT POINT SHOULD BE KEPT AS A STOP LOSS
THANK YOU
DOW JONES MAKE OR BREAK DAY
- Dow is stuck in between a trend line inside a channel and the channels top line.
- So the index has to decide which way it want's to go.
- Take a trade based on which way it is going to break out.
Thank you
BREAK OUT STOCK XINYUAN REAL ESTATE CO(XIN)
- The stock has closed above its resistance line.
- This is accompanied by good volume increase as you can see above.
- MACD has given a buy signal.
- CAUTION: HAVE STOP LOSS AT 2.8
Thank you
USD/CAD FALLING WEDGE HAS GIVEN A BREAK OUT
- USDOLLAR VS CANADIAN DOLLAR INDEX HAS GIVEN A BEAK OUT FROM THE FALLING WEDGE.
- IF THIS IS NOT A FALSE ONE WE CAN EXPECT THE INDEX TO MOVE HIGHER IN THE COMING DAYS.
- I POSTED THE FALLING WEDGE IN MY EARLIER POST CLICK HERE TO SEE IT
NIFTY SECOND REVERSAL ATTEMPT IN DAILY CHART
- Nifty 's second attempt at reversal in the daily chart seems to be failing
- channel line is very important that might give support for the time being.
- euro is falling again. us market may go down tonight if it continues.
thank you
EURO VS USD MAY GET A BOUNCE FROM 1215000 AREA
TRIANGLE BROKEN ON THE DOWN SIDE
- WE MIGHT GET A BOUNCE FROM THE BOTTOM OF THIS TRIANGLE
THANK YOU
NIFTY 5 MINUTES DIAMOND PATTERN
- Yesterday nifty formed a diamond pattern in 5 minutes. The pattern was not perfect but was very effective.
Thank you
NIFTY HOUR CHART TREND LINE BREAK TRADE
- IF NIFTY CLOSES BELOW THE 20 HOUR SMA THAT'S RISKY FOR THE BULLS IN THE SHORT TERM.
THANK YOU
NIFTY TECHNICAL ANALYSIS FOR 31-5-2010
NIFTY HOUR FIBO LOVELS
- NIFTY DAILY CHART CHANNEL IS LIKELY TO BE VIOLATED.
- BUT REMEMBER IT TOOK 2 ATTEMPTS IN THE HOURLY CHART FOR NIFTY TO GET OUT OF THE DOWN TRENDING CHANNEL.
- NIFTY HOUR CHART SUGGESTS A TARGET OF 5120 AS THE NEXT FIBO LEVEL SO THAT WILL BE THE FIRST TARGET FOR TODAY. IF IT SUSTAINS ABOVE 5080.
THANK YOU
NASDAQ COMPOSITE INDEX ASCENDING TRIANGLE
- IF THE EURO ZONE PROBLEMS DOES NOT HAUNT THE MARKETS AGAIN. NASDAQ COMPOSITE INDEX MAY TRY ONE MORE TIME TO BREAK OUT ON THE UPSIDE.
- THE SECOND ATTEMPT MAY BE SUCCESSFUL.
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