This Trading view software is one of the Best Software in the World , but when i see many Jokers start posting it like how they wish to post , i feel little uneasy the way they use this software , which is in fact free given to so many people , i am pro user(Paid) i have additional benefit , but even in free if you cant use it properly then i must call you Guys/ Girls as dummy , surely i have no doubt ,
This example you study today i am posting for TCS and You take up any chart ,
01) Select the Time frame of 3 Hour
02) Read the Price action , weather its bullish continuation or its ranging ,
03) Check the Momentum on Indicator , basically you are checking for half day price action momentum , in which you will come to know weather candle are strong enough to go long or stay away currently or weather candle are weak and can fell any moment ,
04) Once you check 3 Hour candle ignore last 15 Mint candle which will appear in chart , since we have trading time of 6 Hour and 15 mints
05) Look for opportunity if candle is showing complete range in 3 hour less than 0.5 % and in next candle if it continue the same range then its likely to fell due to lack of momentum ,
06) if candle is bullish and has a Bullish continuation candle formation then look for opportunity in 1 Hour and enter based on your risk and appetite
07) If you dont know which are bullish continuation candle and Neutral candles then Go for Google search and study candlestick price action and its meaning , also you have an Opportunity in Trading view to learn for free in Education section
08) Price Rejection , Bullish Continuation , Neutral , and Narrow range candles , these are 4 types you have to identify and take your decision on which side of the trade you would like to be
I may be writing this hard and harsh because when i saw People started posting short in TCS and Other scrip using 1 Hour chart i was trying to understand why ?? because when we check the higher time frame it was still unclear what will happen next ,
Trust this software its one of best tool which is currently available for free to You Guys and take a better steps in your trading decision
Good luck
Regarding this scrip , Now its forming a Flag so expect any brake of flag is sell opportunity until its in flag stay away form any trade Long or short
This example you study today i am posting for TCS and You take up any chart ,
01) Select the Time frame of 3 Hour
02) Read the Price action , weather its bullish continuation or its ranging ,
03) Check the Momentum on Indicator , basically you are checking for half day price action momentum , in which you will come to know weather candle are strong enough to go long or stay away currently or weather candle are weak and can fell any moment ,
04) Once you check 3 Hour candle ignore last 15 Mint candle which will appear in chart , since we have trading time of 6 Hour and 15 mints
05) Look for opportunity if candle is showing complete range in 3 hour less than 0.5 % and in next candle if it continue the same range then its likely to fell due to lack of momentum ,
06) if candle is bullish and has a Bullish continuation candle formation then look for opportunity in 1 Hour and enter based on your risk and appetite
07) If you dont know which are bullish continuation candle and Neutral candles then Go for Google search and study candlestick price action and its meaning , also you have an Opportunity in Trading view to learn for free in Education section
08) Price Rejection , Bullish Continuation , Neutral , and Narrow range candles , these are 4 types you have to identify and take your decision on which side of the trade you would like to be
I may be writing this hard and harsh because when i saw People started posting short in TCS and Other scrip using 1 Hour chart i was trying to understand why ?? because when we check the higher time frame it was still unclear what will happen next ,
Trust this software its one of best tool which is currently available for free to You Guys and take a better steps in your trading decision
Good luck
Regarding this scrip , Now its forming a Flag so expect any brake of flag is sell opportunity until its in flag stay away form any trade Long or short
Trade active:
Sell on Rise now or Brake of the recent low , waiting in stock is equally important to saving our capital , if you are stuck in the middle of the range most likely you will end up in losing trade , and how to enter and how to exit both need a room to consider a trade , Hope you Guys made a note why you should not be in the range if you do not have experience of handling the range bond trade , now look for sell opportunity , usually this kind of scrip tend to tag Open of the Bearish Impulse , that means it might try to tag 2002 and then start reversing , so wait for tag , in case broke down like mind tree , Take the sell
Good Luck
Good Luck