Trade-Wealth

Pullback - Siemens Ltd

Long
NSE:SIEMENS   SIEMENS INDIA LTD
346 views
5
Buy at CMP 1527 or on dips for target of 1600, 1650 & 1700.
Comment: Stoploss 1450
Trade active
Comment: Target 1 achieved
Trade closed manually

Comments

Hi
I am a fan of your pull back strategies . Great work , if you don’t mind telling , from a learning perspective I was curious on this , “how do you screen such pull back stocks”, looking at the chart I can understand to some extent that previous resistance point from which break out had happened becomes support during the pull back, but again how to screen is something I don’t understand . Do you look for stocks hitting 52 week high or something like that ?

Appreciate your inputs
Happy new year!
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Trade-Wealth buddinginvestor80
@buddinginvestor80, Hi, thanks for your appreciation.

I use only basic trend following with support and resistance swing strategy.
I await to occur Low, High, Higher low and Higher High. Every higher low occurs at previous breakout and eventually it's pullbacks.
Try to get better entry and ride the trend until it changes the direction.

Im using 52 week high scanner, i keep many stocks in watch list and following continuously to enter into right time. I pick the stocks that i had convinced to trade.
Sometimes I pick new monthly high stocks too.

Moreover
Reply
buddinginvestor80 Trade-Wealth
@Trade-Wealth, thanks mate! Appreciate your insights.. helps a lot!
Reply
Trade-Wealth buddinginvestor80
@buddinginvestor80, Keep learning!
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