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Candle_Analysis

This version was saved 2 years, 3 months ago View current version     Page history
Saved by NimblrTA
on June 23, 2018 at 9:36:06 pm
 

Binet's Formation

Binet's Formation is a special condition which makes Higher Lows and Lower Highs and squeezes the stock into a narrow range before a volcanic surge.

 

Links:

http://mathworld.wolfram.com/FibonacciNumber.html

http://portal.groupkos.com/index.php?title=Fibonacci_Sequence&redirect=no

 

Formation:

 

 

Focus on the HL and LH, the red dots might not be equidistant, but overall structure matters

 

#ALICON Binet's Formation Detected T 615/675 SL 510 if Daily C >580 with Strength candle on 23/10/2017

Touched 761 on 09/01/2018

Its the way most accumulations are made of Binet's Fibo Number Theory !

Observations:

Depiction of Binet Fibo Number Pattern in Pennants.

Its one wave still as CCI hasn't been <-100!

 

Qn: Should the intermittent waves be considered, then it's invalid Binet's Formation?

Ans: Intermittent waves will not exist on a higher time frame. Knowing this - no need to worry. Take the Highest as one for consideration

 

Binet's Pattern on 11/Oct/2017 created high of 150 on 26/12/2017

A perfect Binet's Formation with a blast after VOM on intraday

 

Observations:

CCI 34 hasn't moved below -100 since it moved above +100.

CCI 34 pattern is in itself a binets formation. Double powered blast coming that way!

 

#ABB, On the lines of Binet's Fibonacci Number Concept !

 

Classic Example of Binet Formula occurred in Nifty 5min charts, led to the spiral rise

 

Another Binet's Formation

 

Inverse Binets Formation:

Rotate the Binet's Formation to 180 degrees + flip vertically

Its a bullish trap where bulls get in n the price falls. Last HH is very sharp up on low volumes.

This is the Best Bear Market Trading Pattern! Its a Inverse Binet Fibonacci Curve .. and leg that pips is total deception. If you are aware that Inverse Curve is ongoing the tip is best for Selling n the earnings come at sonic speed due to panic fall.

 

Pin Bar

Pin Bar means some sort of reversal but must be followed next day with a Strength BH>50%CH Candle with high and close both above high of Pin Bar for a Buy and low and close below low of Pin Bar for a Sell

 

Pin Bar Candle sent Hindustan Lever crashing from 913.95 to 888.65 .. The Color of the candle is immaterial. The candle that follows matter!

Low and Close below the pin bar followed with second BO completes confirmation of Top!

 

 

Pin Bar - follow up candle decides the direction therefore therefore color is immaterial or there is nothing called Bearish or Bullish Pin Bar.

 

 

Wedge Formation

 

Usage Hints

  • Check overlaps with line charts
  • Weekly line charts would help identify the overall structure of waves for investment
  • For wedge formation consider the monthly charts (highs and lows) i.e. the highest timeframe under consideration.

 

 

Weekly Line Chart

When 4 of a wave does not go below 1, there is no overlap. If it goes below 1, there is an overlap; a way 2 check bearish/bullish wedges.

Fall below 2949.45 is overlap losing impulse status of the wave. CCI below -100 much earlier. Indecision/Weakness confirmed!

 

Tips Industries CMP 135.40. Avoided Overlap and there after takes off ! Mild Resistance at 140-160 range. Occurrence of Breakout as per NimblrTA BO Concept at previous ATH 159.40 will take the stock to 230 in 4 mths.

You can see the waves on bounce are overlapping. Further fall was eminent. Bearish Wedge !

 

 

If it makes a new low marginally below 298.05 and then makes a strong impulse wave worth a entry. Currently it is a bearish wedge since low of 298.05.

 

Daily Chart

 

Weekly Chart

 

Monthly Chart

 

Arrow drawn suggest bearish wedge unless the breakout proposed above never falls below 113.85 high of 15Mar18

If falls below 113.85 the wave will get overlapped into a bearish wedge.

Source: TradingView Chart

 

Weekly Chart

 

Monthly Chart

 

See charts in all time frames.

On D/W/M and note the subtle difference between bearish n bullish wedges! Actually a Big One!

Qn Had an understanding HL are good for bulls, here its the opposite via pattern, why does pattern conflict with other theories?

 

Ans

Here the chart does not have CCI>+100 rather in Sell Hold! So in a way bearish wedge compliments.
The Bearish Wedge and CCI in Sell Hold is complimenting not contradicting !
Patterns will always co-relate n compliment CCI + BO as CCI's based input is price.

 

Followup chart

 

Weekly Chart

 

Monthly Chart

 

For the Good Health of DJI better it bounces from a low just below 23065

 

Qn: Is the same logic valid for CCI-Buy Hold + HL as well, chart marked for #KAKATCEM So this again becomes Bearish Wedge?

 

This is a Bearish - but the moment a higher Low is formed followed with Lower High , the wave will turn impulse if shoots above previous high!

 

Candle Analysis

 

 

Nifty Breakout of Range, next test at 10080 !

 

1) Current Week to close above 10300 to hover into Indecision zone 10737-10424

2) A BH>50%CH Candle with close above 10737 for a new ATH ABOVE 11171

 

Nifty closes at 10331 for week 2-6 April 2018

 

 

Nifty Weekly Chart Analysis!

1) Last Week's Strength Candle Close in the Indecision Area 10428 - 10761 is positive.

2) Bulls require a Strength Candle with Close > 10761 for the fall 11171.55 to 9951.90 to be termed as just a 'Pullback'.

3) Bears require a fall below Low 10111.30 to cancel uptrend. Gap 10736.10 - 10702.75 is in favor.

4) On Daily Chart Close range 10761 - 10428 have been with Indecision Candles. Hence Indecision Zone.

 

Nifty needs a Wkly close above 10603.70 tomorrow that can keep the current weeks gains intact for a perfect foundation to enable

1) cross over of the Gap (10736-10702)

2) for the week ending 27April18's close above 10761 !

Nifty .. 10565 .. would be worrying if closes below 10494 in which case good work of the whole week gets squashed away !

 

 

Nifty 10633 A Weekly Close on 1st June18:

1) above 10761 will cheer Bulls

2) above 10816 Celebration for Bulls

3) below 10600 Bears get a foot in.

 

Nifty 10633 ... A Monthly Close on Thu31May18:

1) Above previous month close of 10739.35 would cheer the Bulls.

2) Below 10527 Bears get their foot in. 78% Retracement Augurs well for Upside.

 

Tata Motors .. today's Gap down (354.40 - 352.55) and a downside strength candle close needs to be seen with caution. Another BH>50%CH Candle with Close < Open below 337 will result in Big Slide!

 

ADF Foods CMP 269.55 A Mthlly Close on 31May18 above 275 rise to 490 1yr SL 189 .. 30May18 21:57

 

 

Qn: Here you have considered and given importance to zone resistence of previous red strength candle Open price 274.90, if we look the other way it is also a current strength candle with reversal on weekly and alignment with momentum with highest high on the leg. How to balance view?

 

 

Ans: Yes ! given importance to open 274.90. If closes above 274.90 it enters the first fall candle of Jan18 with open 315. Strength Candles provide conductivity to price action on both side. Once closes above 275 315 becomes a possibility. Previous such instances r numerous

 

Qn: In case we dont get 274.90 tomorrow that but it closes as a strength candle for the current month, would that indicate a downfall due to resistence at strength breakout zone at 274.90? Or based on other parameters like 2 strength candles with highest high and ema will move up?

 

Ans: Even if not > 275 the price conductivity is always both sides in a strength candle. Only the Indecision candle break the path.

 

Qn: Does that mean if does not close > 274.90 then it can start to reach 243.35 which is th zone support (Close)for the equivalent red candle

 

Ans: If it closes with 270.70 close of Jan18 it will conduct till open of Jan18

 

Analogy Based Analysis

CNX Nifty Fin Services 10726 ... Needs a Wkly Close above 10887 on Fri 4May18 for further rise. HDFC Twins has a lot to achieve!

 

 

Sideways Action (CCI34 W crossing below 100)

Confirmation awaited (strength candle must be lowest low), though sideway action started

 

Confirmation awaited (strength candle must be lowest low), though sideway action started

Top confirmation with sideways action

Top yet to confirm, sideways action started

 

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