Pivot Point Indicator

LSE wrote:Pivot Point analyze

ASI Index values as of [10-05-2013]


Open - 6255.27
High - 6290.02
Low - 6247.79
Close - 6254.62

R4 = 6,390.83
R3 = 6,348.60
R2 = 6,306.37
R1 = 6,280.50

Pivot Point = 6,264.14

S1 = 6,238.27
S2 = 6,221.91
S3 = 6,179.68
S4 = 6,137.45



Conclusion :

Dear all, if you stay with this post from the beginning i think now you all having a very good understanding about this indicator,so up to now we have already passed big green days as well as few bearish days. but i think now we have came to an important turning point of the ASI index. As you all know at the 6000 level we had a strong resistance. It's took more than a year to break that resistance level. Now we are staying at 52 week high ASI level.

When compare ASI Index values as of [10-05-2013], now it's trading below the pivot point & that indicates bearish sentiment. I think this is a good time to keep your eye on the market behavior and it's activities. I will post an another analyze by using the candlestick patterns and for the moment this is only for your attention.

Now we are passing a kind of uncertain situation and RSI indicator already set to it's high levels. so, definitely there will be few red days in near future. but keep in you mind we have already passed a very strong resistance level & this will indicate further good movement of the market.

When we talking about the Monday, Next resistance level R1 is at 6,280.50. If we get across from that point it'll reach to the R2 level at 6,306.37 with difficulty. Mean, surely there will be a high selling pressure & that can drag ASI to next support level S1 at 6,238.27 or S2 levels.

Note :
s1,S2 are very strong support levels and R1,R2 are much stronger resistance levels. Monthly basis market will continue this uptrend movement.

Alternative scenario is, if market continues it's uptrend till 63.. levels then, there will be very small probability to stay market above 63.. levels withing next 2 or 3 days.

Lets hope for the best.

Thank You.

LSE wrote:Dear Friend Jonta,

Fibonacci Pivot Points start just the same as Standard Pivot Points. From the base Pivot Point, Fibonacci multiples of the high-low differential are added to form resistance levels and subtracted to form support levels.

Fibonacci Pivot Points Calculation

Pivot Point (P) = (High + Low + Close)/3

Support 1 (S1) = P - {.382 * (High - Low)}
Support 2 (S2) = P - {.618 * (High - Low)}
Support 3 (S3) = P - {1 * (High - Low)}

Resistance 1 (R1) = P + {.382 * (High - Low)}
Resistance 2 (R2) = P + {.618 * (High - Low)}
Resistance 3 (R3) = P + {1 * (High - Low)}

Constant Values [ 0.382,0.618,1 ]

Thank You.

LSE wrote:Pivot Point analyze

ASI Index values as of [10-05-2013]


Open - 6255.27
High - 6290.02
Low - 6247.79
Close - 6254.62

R4 = 6,390.83
R3 = 6,348.60
R2 = 6,306.37
R1 = 6,280.50

Pivot Point = 6,264.14

S1 = 6,238.27
S2 = 6,221.91
S3 = 6,179.68
S4 = 6,137.45



Conclusion :

Dear all, if you stay with this post from the beginning i think now you all having a very good understanding about this indicator,so up to now we have already passed big green days as well as few bearish days. but i think now we have came to an important turning point of the ASI index. As you all know at the 6000 level we had a strong resistance. It's took more than a year to break that resistance level. Now we are staying at 52 week high ASI level.

When compare ASI Index values as of [10-05-2013], now it's trading below the pivot point & that indicates bearish sentiment. I think this is a good time to keep your eye on the market behavior and it's activities. I will post an another analyze by using the candlestick patterns and for the moment this is only for your attention.

Now we are passing a kind of uncertain situation and RSI indicator already set to it's high levels. so, definitely there will be few red days in near future. but keep in you mind we have already passed a very strong resistance level & this will indicate further good movement of the market.

When we talking about the Monday, Next resistance level R1 is at 6,280.50. If we get across from that point it'll reach to the R2 level at 6,306.37 with difficulty. Mean, surely there will be a high selling pressure & that can drag ASI to next support level S1 at 6,238.27 or S2 levels.

Note :
s1,S2 are very strong support levels and R1,R2 are much stronger resistance levels. Monthly basis market will continue this uptrend movement.

Alternative scenario is, if market continues it's uptrend till 63.. levels then, there will be very small probability to stay market above 63.. levels withing next 2 or 3 days.

Lets hope for the best.

Thank You.

LSE wrote:

LSE wrote:Pivot Point analyze

ASI Index values as of [10-05-2013]


Open - 6255.27
High - 6290.02
Low - 6247.79
Close - 6254.62

R4 = 6,390.83
R3 = 6,348.60
R2 = 6,306.37
R1 = 6,280.50

Pivot Point = 6,264.14

S1 = 6,238.27
S2 = 6,221.91
S3 = 6,179.68
S4 = 6,137.45



Conclusion :

Dear all, if you stay with this post from the beginning i think now you all having a very good understanding about this indicator,so up to now we have already passed big green days as well as few bearish days. but i think now we have came to an important turning point of the ASI index. As you all know at the 6000 level we had a strong resistance. It's took more than a year to break that resistance level. Now we are staying at 52 week high ASI level.

When compare ASI Index values as of [10-05-2013], now it's trading below the pivot point & that indicates bearish sentiment. I think this is a good time to keep your eye on the market behavior and it's activities. I will post an another analyze by using the candlestick patterns and for the moment this is only for your attention.

Now we are passing a kind of uncertain situation and RSI indicator already set to it's high levels. so, definitely there will be few red days in near future. but keep in you mind we have already passed a very strong resistance level & this will indicate further good movement of the market.

When we talking about the Monday, Next resistance level R1 is at 6,280.50. If we get across from that point it'll reach to the R2 level at 6,306.37 with difficulty. Mean, surely there will be a high selling pressure & that can drag ASI to next support level S1 at 6,238.27 or S2 levels.

Note :
s1,S2 are very strong support levels and R1,R2 are much stronger resistance levels. Monthly basis market will continue this uptrend movement.

Alternative scenario is, if market continues it's uptrend till 63.. levels then, there will be very small probability to stay market above 63.. levels withing next 2 or 3 days.

Lets hope for the best.

Thank You.

Target Support Levels

S1 = 6,238.27 - Failed

S2 = 6,221.91 - Supporting [ if this fail it'll drag to S3 levels very easily ]
S3 = 6,179.68

Thank You.

LSE wrote:This was the expected values according to me, [For Today]

R2 6,265.96
R1 6,241.22 ---> was 6,240[ when market close]

PP 6,228.04
-------------------------->> 6,221.12 [Actual Value at the end of the day after finalize]
S1 6,203.30 ---> this was the turning point
S2 6,190.12
S3 6,152.20

Note :
Market bounced between the resistance [R1] and support [S1].
From the Beginning we saw a good support against the resistance.
Finally bull side won.

Thank You.

LSE wrote:

LSE wrote:This was the expected values according to me, [For Today]

R2 6,265.96
R1 6,241.22 ---> was 6,240[ when market close]

PP 6,228.04
-------------------------->> 6,221.12 [Actual Value at the end of the day after finalize]
S1 6,203.30 ---> this was the turning point
S2 6,190.12
S3 6,152.20

Note :
Market bounced between the resistance [R1] and support [S1].
From the Beginning we saw a good support against the resistance.
Finally bull side won.

Thank You.

Pivot Point analyze

ASI Index values as of [15-05-2013]

open - 6202.87
High - 6227.61
Low - 6202.87
Close - 6221.12


R4 6,291.42
R3 6,266.68
R2 6,241.94
R1 6,231.53

PP 6,217.20

S1 6,206.79
S2 6,192.46
S3 6,167.72
S4 6,142.98

Conclusion :

Actually this is kind of an uncertain situation. Because, above values are indicate another tight
schedule for tomorrow as well. Like today tomorrow also there will be a good support against the resistance. slowly it's confirm the up trend again. Strong resistance points will meet ASI at R1,R2,R3 & R4.

Note :
Trading above the pivot point is thought to indicate ongoing bullish sentiment
If ASI break them it's rocketing like nothing.
If fails ASI will floating around R2 - S2 Levels.
keep in your mind ASI will meets its support at S1,S2,S3 & S4

Lets hope for the best.

Thank You.

LSE wrote:Did you all see that, how powerful the resistance at R2

R4 6,291.42
R3 6,266.68
R2 6,241.94 ----->>> ASI turned down from this point
R1 6,231.53

PP 6,217.20

S1 6,206.79
S2 6,192.46
S3 6,167.72
S4 6,142.98


Thank You.

LSE wrote:Did you all see that, how powerful the resistance at R2

R4 6,291.42
R3 6,266.68
R2 6,241.94 ----->>> ASI turned down from this point
R1 6,231.53

PP 6,217.20

S1 6,206.79
S2 6,192.46
S3 6,167.72
S4 6,2142.98


Thank You.

KDDND wrote:

LSE wrote:Did you all see that, how powerful the resistance at R2

R4 6,291.42
R3 6,266.68
R2 6,241.94 ----->>> ASI turned down from this point
R1 6,231.53

PP 6,217.20

S1 6,206.79
S2 6,192.46
S3 6,167.72
S4 6,2142.98


Thank You.

Yesss..... Exactly.... 6241.93 was the highest just before a drop.... @10.27am ...

haa haa .... how come...
THx LSE!
keep it up...

Grat work!

LSE wrote:*** Only One Levels To Go... ***

R4 6,291.42---->>> Now value is @ 6293.35
R3 6,266.68 ----->>> R3 Failed
R2 6,241.94 ----->>> R2 Failed
R1 6,231.53 ----->>> R1 Failed

PP 6,217.20

S1 6,206.79
S2 6,192.46
S3 6,167.72
S4 6,2142.98

What about the last 30 min...?


Thank You.

KDDND wrote:Thx LSE!

Today almost CSE goes with LSE's lesson....

I expect tomorrow also CSE will follow your book....

Thx for your support and explanation.....
Many are benefiting of your work....

LSE wrote:Pivot Point analyze

ASI Index values as of [16-05-2013]

open - 6225.23
High - 6295.48
Low - 6225.23
Close - 6287.00

R4 6,479.99
R3 6,409.74
R2 6,339.49 --->> Key Point 2
R1 6,313.24 --->> Key Point 1

PP 6,269.24

S1 6,242.99
S2 6,198.99
S3 6,128.74
S4 6,058.49

Conclusion :

My concern is on R1 & R2. Now It's very clear & confirmed this up trend movement. Tomorrow it'll pass 6300 very easily & continue this up trend further till it meet the next resistance levels at R1 & R2. If ASI get enough support to break those two levels then, the ASI will meet the next resistance level R3 at 6,409.74

Note:
Tomorrow will be a big green day...

Thank You.

LSE wrote:

LSE wrote:Pivot Point analyze

ASI Index values as of [16-05-2013]

open - 6225.23
High - 6295.48
Low - 6225.23
Close - 6287.00

R4 6,479.99
R3 6,409.74
R2 6,339.49 --->> Key Point 2
R1 6,313.24 --->> Key Point 1

PP 6,269.24

S1 6,242.99
S2 6,198.99
S3 6,128.74
S4 6,058.49

Conclusion :

My concern is on R1 & R2. Now It's very clear & confirmed this up trend movement. Tomorrow it'll pass 6300 very easily & continue this up trend further till it meet the next resistance levels at R1 & R2. If ASI get enough support to break those two levels then, the ASI will meet the next resistance level R3 at 6,409.74

Note:
Tomorrow will be a big green day...

Thank You.

R1 6,313.24 --->> Key Point 1

Really strong resistance here. pushing the ASI index back. Look at the graph.
http://www.cse.lk/home.do

Thank You