praveen.bhatiya

TCS Price path possibility : Action/Reaction Method

NSE:TCS   TATA CONSULTANCY S
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Continuing with learning and experimenting the tools in real time trading, I am posting the price path possibility in the light of Action/Reaction method as taught by Dr             Andrews. The trade has not matured yet and actual trade would emerge after forming the next pivot on CL             . Practice and train your eyes to find the setup. Questions are always welcomed and I try to answer at my earliest. Those who have asked me to continue are requested to do some research on weekend and post the chart in comments for their own learning and discussion.
Order cancelled: The aforesaid pattern didn't give entry and the pattern is invalid now. No trade generated.
Please tell me how to proceed further after drawing these lines.
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@vanathi, First Step is to find 3 pivot and draw a line passing thru it that is called Center line and the basis of Action/Reaction. I could not understand the pivots in this chart. Please mark the 3 pivots you have taken or 2 pivots passing thru a gap.
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Praveenji,Thanks for your views on TCS, I have been watching it's price action. I don't have knowledge of charting but in my view it will move up to fill the gap of 31 Jan at 2340 before it moves down. Other thing I notice is that with it's big market Cap it's weightage is used to pull up Nifty index perfectly (watching it's move again on 2 feb).
Also when so much noise about Visa issue it did it's upside target to fill the gap of result day fall then it was pulled down so fast with 2 gap down openings. Now with the euphoria that Nifty will touch 8900-9000 TCS up move is needed by operators. It's just my view, may be invalid.
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@theeye, Thanks for your comment. You have very well said. It is true that price may move in any direction however while trading we have to frame a trade in the prevailing situation. I've mentioned here How Dr Andrews have used this price action for trading. The basis principal for Technical Analysis is that every news is discounted in the price so I don't hear the news and stories as presented by media because the risk is to loose the objectivity, moreover it will automatically reflect in price.
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Thanks for your views.

Is there any book by Dr. Andrews on action/reaction method you are referring to?
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@Boult2100, Unfortunately not. He taught it to a very limited group of people mainly his friend.
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Boult2100 praveen.bhatiya
@praveen.bhatiya, Ok so how did you learn? any website? and I guess this is the same person who invented Andrews Pitchfork.
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@Boult2100, Yes it is same person invented famous Pitchfork. I lived in Germany and got the opportunity to take the lessons direct student/friend of Dr Andrews. Very few people of his generations are alive,
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Boult2100 praveen.bhatiya
@praveen.bhatiya, That's great.
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