Bravetotrade
Short

IBulHsg: In a Bear Channel

NSE:IBULHSGFIN   INDIABULLS HOUSING
Notes on the chart.
Do like for better ideas.

I ll discuss about the channels later.

Regards
JJ
Feb 09
Comment: Let me briefly discuss about the channels in this post.

The channels are one of the most tricky tools in the hands of traders. Reason being they are made up of trend lines. And trend lines are dynamic support resistance levels.

Dynamic means that the S/R levels keep on changing as the price action proceeds on a time scale.

The trader has to play a bit with trend lines before coming out with a neat channel. I use to setup a midline in the channel to increase the accuracy. Normally we look for convergence of price action near the midline too.

Sometimes I wonder how these lines act as magnets and stock breaks strong s/r levels to achieve the magnet levels on the channel (on any timeframe).

We need to be careful when the price starts trading outside the channel. Sometimes it leads to an abrupt move in the opposite direction. In such situations there is no point keeping the channel trades.

I hope it all makes sense to those who r interested in technical analysis.

All the best.
Feb 09
Comment:
Feb 10
Trade closed: target reached: Algos sold to the first Target :)
Feb 10
Comment: It's good to sell as close to 590 as possible with a stop above 592 for a better rrr. Started is valid as long as 578 is not broken.
Feb 11
Comment: I am short with 4point stop above 592. Let's see.
Feb 11
Comment: Trade psychology:-
Bank nifty's outperformance may kill this trade. But I am not worried as rrr is good for me. If I lose in this one I ll grab another opportunity somewhere else.
At this point it's important to keep ur calm and follow the plan.
It's just one trade out of 100s that I am going to take in a month or two.
Feb 11
Trade closed: stop reached
KumarAbhilash KumarAbhilash
@KumarAbhilash, ibul ki L to bhut pehle lag gyi thi, ab M B L sab hone wala h
Reply
Bravetotrade KumarAbhilash
@KumarAbhilash, :) I ll play with it for a few days.
Reply
Inside the channel bear pennant pattern has also formed.
Reply
@vanathi, Absolutely, that's where most of the money is lost by the traders. The moment they are all out.. boooom 💥 it exploded down.
Reply
vanathi Bravetotrade
@Bravetotrade, It needs patience and experience to hold position in such situation :)
Reply
@vanathi, Right. Especially in such stocks. The trading window is only for few minutes. The rest is patient grinding :)
Reply
I think it will open gap down.
Reply
Bravetotrade xclusiv_abhi
@xclusiv_abhi, may be. In that case pullback may give a sell setup.
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Help Center Refer a friend Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out