johntradingwick

johntradingwick

The price seems to be rebounding from the weekly support zone but the bearish market structure is still intact. Long positions should be opened only after the change in market structure i.e. after the breach of the previous high. The falling wedge pattern provides one more narrative for the Bullish reversal. The RSi is also curving up, which indicates a potential...

johntradingwick

Axis Bank has been in a clear uptrend for many months. The correction which started in February seems to be over now as the downtrend line has been invalidated. A change in market structure has been observed with the formation of higher high and higher low. RSI has been curving up, supporting the Bullish momentum. The targets which I am looking at: Target 1: ...

johntradingwick

The previous supply zone must now become a demand zone = Change of polarity. In simple words, previous resistance must now become support. P.S: This is NOT investment advice. This chart is meant for learning purposes only and is a part of my personal journal. Invest your capital at your own risk.

johntradingwick

Things to Note: 1. Price is moving out of a long term downtrend 2. Change in MS - Printing HH & HL 3. Price in correcting after the first impulsive move 4. Nearest support zone lies at 127-129 5. Possible targets: 140, 145 P.S: This is NOT investment advice. This chart is meant for learning purposes only and is a part of my personal journal. Invest your...

johntradingwick

Things to Note: 1. Bullish Market Structure- Printing HH and HL 2. Price forming an Ascending triangle pattern 3. Volume is low atm but it should expand at the BO P.S: This is NOT investment advice. This chart is meant for learning purposes only and is a part of my personal journal. Invest your capital at your own risk

johntradingwick Updated 

Things to Note: 1. Good Wide range candle 2. Volume on BO 3. Change in market structure 4. Price above 50 MA P.S: This is NOT investment advice. This chart is meant for learning purposes only and is a part of my personal journal. Invest your capital at your own risk

johntradingwick

In my humble opinion, the rally from the swing low to the top was an extended one(1800+ points). This may have exhausted the buyers and the profit-takers stepped into the market. The price may once again try to push above the ATH. The sellers did push the price down but they couldn't move it below 14600. Another attempt to push the price down failed when the...

johntradingwick

If you are an amateur, try NOT to short the index at the moment. We are still in a highly Bullish market. Hence, Shorts will get squeezed badly. Use appropriate quantity and risk-reward ratio. Always use a stop loss. Always risk a maximum of 1-2% of your capital. P.S: This is NOT investment advice. This chart is meant for learning purposes only. This is...

johntradingwick

Nifty has shown good performance in the last 3 days, recovering almost 700+ points. There is an unfilled gap at 15042-14990. You can BUY above 15430 or on the rebound from the trendline. If you are an amateur, try NOT to short the index at the moment. We are still in a highly Bullish market. Hence, Shorts will get squeezed badly. Use appropriate quantity and...

johntradingwick

Identify the underlying trend of the market on a higher time frame. After identifying the underlying trend, you will have a bias . For example, In a Bullish market, always look for a long trade. Never short a Bullish market. Likewise, in a Bearish market, always look for a short trade. For opening a trade, use an hourly time frame . Other time...

johntradingwick

Targets: 373, 404, 438 Use appropriate quantity and risk-reward ratio. Always use a stop loss. Always risk a maximum of 1-2% of your capital. P.S: This is NOT investment advice. This chart is meant for learning purposes only. This is my personal journal. Invest your capital at your own risk.

johntradingwick

Go Long above 960 Go Short if the price pierces down through the grey zone. Go Short if the downtrend line does not hold. Use appropriate risk-reward ratio. Always use a stop loss. P.S: This is NOT investment advice. This chart is meant for learning purposes only. This is my personal journal. Invest your capital at your own risk.

johntradingwick

Double Top rejection from 425 level. Ascending triangle nearing completion. Formation of Higher lows. Good support from the trendline. Use appropriate risk-reward ratio. Always use a stop loss. P.S: This is NOT investment advice. This chart is meant for learning purposes only. This is my personal journal. Invest your capital at your own risk.

johntradingwick

Wait for the price to sustain above the trendline and marked zone. Buy above 2182 level. Go Short if the price gets rejected from 2180 level. Use appropriate risk-reward ratio. Always use a stop loss. P.S: This is NOT investment advice. This chart is meant for learning purposes only. This is my personal journal. Invest your capital at your own risk.

johntradingwick

Price may move towards filling the gap. Wait for the price to sustain above the trendline and marked zone. Go Short if the price gets rejected from the Grey zone. Price may also retest the support once more time before moving up. Use appropriate risk-reward ratio. Always use a stop loss. P.S: This is NOT investment advice. This chart is meant for...

johntradingwick

Wait for the price to sustain above the trendline and marked zone. Go Short if the price gets rejected from the Grey zone. Use appropriate risk-reward ratio. Always use a Stop loss. P.S : This is NOT investment advice. This chart is meant for learning purposes only. This is my personal journal. Invest your capital at your own risk.

johntradingwick

Wait for the price to sustain above 1572 and then go Long. You can go Short if the price falls below 1560. Rejection from resistance will move the price to the previous support level of 71-73. Use appropriate risk-reward ratio. P.S: This is NOT investment advice. This chart is meant for learning purposes only. This is my personal journal. Invest your...

johntradingwick

Retesting previous resistance level Formation of massive Bullish Engulfing candle Spike in Volume Wait for the price to sustain above resistance and then go Long. Rejection from resistance will move the price to the previous support level of 71-73. P.S: This is NOT investment advice. This chart is meant for learning purposes only. This is my personal...