This is my trading journal, not a trade recommendation. Will be Posting and updating the ideas regularly as market progresses, only for educational purposes for me and others who want to benifit from my experince. I will be taking trades both ways, as and when market gives opportunity, hence keeping the investment strategy as Neutral.
DISCLAIMER: Trading in the stocks market or futures markets is one of the riskiest forms of investments available in the financial markets and suitable for sophisticated individuals and institutions. The possibility exists that you could sustain a substantial loss of funds and therefore you should not invest money that you cannot afford to lose. Nothing in this analysis is a recommendation to buy or sell stocks or futures and I shall not be liable for any loss or damage, including without limitation, any loss of profit, which may arise directly or indirectly from the use of this analysis or reliance on such information. Consult your financial advisor prior to investing is stock market.
This is one person’s experience, your experience may differ. Past perfomance is not gaurantee of future gains.
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Should we try long here in elipse area
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Waiting for the Sweet Spot!
The chart below shows a typical congestion phase in the market. Price swings are showing both higher lows and lower highs-which means the range is narrowing as price restores its energy. Price will break out of this congestion area but at the moment, we can only guess whether price will break out to the up side or the down side. Can I go long here, since price are falling down along with red median line slope, Where would I put my stop loss order? I like to place my stop loss orders above or below price formations and there are no price formations to hide under. I still don't have enough information to place any money on a trade. let us watch the market, but be ready...
@kala22, This is one of the setup based on Swing trade techniques. In swing trade we can always find patterns like mountains and valleys. These are very high probability trades. If we take righ entry we can expect good risk reward ratio, more than1:5 or more, if we can ride from swing low to consecutive higher lows. Only catch is we need to keep the stop loss below market structure. This is the place where market sharks have placed their limit order. Identifying them is an art not exect science like other technical indicator based trade setups. One can expect rinse and wash or whipsaws which takes away stop loss orders placed by retailers. Hence hiding the stop loss below the market sturcture is must. you can see my other posts to learn more on swing trades. For me trading is an art not science hence I am commiting may mistakes and exiting early at risk ratio of 1:5 or 1:7, whereas they can go up to 1: 15 or 1:20, few of them are on SBI, Tata Motors, ICICI, PFC, Powergrid, NTPC. I had posted some ideas from different profile which i am no longer using by name of sandeepkumarmeena. You can check and learn from there also. I am also learning.
kala22
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@sandeepkumarmeenagreaternoida, THANK YOU
i want to learn these technical viewing so what should i do
AniketKabir
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@kala22, I am also learing. To start with please practice for a 15 days to identify, significant swing high's and swing lows. mark them and try to identify repeatable patterns in them. This is part of training to tune yourself to read the price action. if you can do that, i can help you to learn concepts one by one.
kala22
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@sandeepkumarmeenagreaternoida, okay i will Thank you
AniketKabir
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@kala22, I think todays movement in ITC is an whipsaw. If that is true, we may see up move from here.