MARUTI has given breakout and bullish closing on Friday. If on Tuesday this sustains above 5155 - 5160 then it can be good candidate for long.
If market turns out strong on Tuesday then it will one of the high probable trade.
Price action is very simple to understand and main focus is price/patterns. Keep your chart clean and free from indicators, follow same process daily to get good results. If you wish to learn simple price action trading process (strategy seekers kindly excuse), kindly reach out. Request your support by liking/commenting on ideas submitted.
It is good and lookin forward to trade , gives confidence. Tks.
Sanjay C .. San
Jay2649
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Sir I have seen people advising to enter breakout trades after third candle has occurred in the breakout, what are your views?
Also, how to predict a pullback after a breakout, or basically how to predict a false breakout?
Thanks sir.
babusamuel
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Sir ..Great Call as always ..Not entered initially because it open higher around 5200.as you mentioned if sustainable above 5155-5160 it is bullish that give me a confidence to enter around 5170 and booked around 5220 ...Thanks for your valuable Ideas
TirumalaReddy
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Piyush ji, there are several levels of S&R on Weekly TF in my view. Should I use them as resistances on the way or ignore them and stick to the levels you mentioned in the chart.
Piyush-Gupta
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@TirumalaReddy, if there are weekly levels respected multiple times then do consider them. I usually back track upto 6months usually unless not nearest sr
pavan05
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Beautifully simple. I was complicating it with multiple S&P
Piyush-Gupta
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@pavan05, sir u r growing at phenomenal speed. Pretty soon, I will relax and enjoy your recommendations
Sanjay C .. San