A large parabolic movement which follows an event such as earnings announcement, Economic reports etc.called ” Event spike “. This move is all about feeding frenzy or herd behavior of market participants are influenced by price moment itself! Some people even refer to this as price reflexive.
If you are a regular reader of my articles, then you know “I hate technical indicators”. They are a derivative of price action, nothing more than a mathematical complex paralysis. My clients frequently question me-“Hey do you use any indicator”? Most probably my reply will be no-because majority of you guys know, I am a pure Price action trader!
Dow Theory is one of the most important trend following theories ever. As market evolved, the concepts of Technical analysis became more elaborated and complex, most essential foundation was forgotten in the Market literature.Even with much complexity nothing beats the Dow Theory on odds and logic. It’s around for over 100 years and still important as it is, even today
Anyone who loves to track NSE FNO Futures and Option Charts on the move is quite easier now as we provide our readers access to all the NSE FNO Futures and Option Charts (includes stock options too) with a base interval of 5min. Currently Charts supports Multiple timeframes (5m, 10m, 15m, 30m,60m,120m,240m, Daily,Weekly) which generally favors DIY FNO traders.
If Nifty Future remains below 8295 Future level the bears are in control and market is weak for more correction. The supports at 8180 and 8060 the upside potential will open up once nifty future sustains above 8295 this will make bears exit the shorts and above 8370 we expect a big rally again to begin.
If there is one thing that bugs a lot of market participants is the credibility of the Technical Analysis and understanding whether is it useful or not in actual application.Here I am trying to map out the exact myths and facts of Technical analysis in simple terms which might help us to grasp the key points.It is not the first time such a debate is proposed under the table.
Now crude Oil is trading around $98.30 & as we can see on charts, crude trying to bounce back from a ascending tradeline. This tradeline was able to hold crude downside move since june 2013. At present point the area represent 138.2% feb correction level which could act as support. Indicators showing a positive divergence which support a positive outlook for coming trading session.