Do you know Support and Resistance is not a Price, It a Area (Range) .
Every time price came to this Area (Range) it respected the Area very well as you can see in the chart.
Rule :- Whenever support is broken its become resistance. And when Resistance is broken its become support.
Hit Like and follow for more future updates.
# WE WILL MAKE ONLY PROFIT
#The relative strength index (RSI) is a popular momentum oscillator developed in 1978. The RSI provides technical traders with signals about bullish and bearish price momentum, and it is often plotted beneath the graph of an asset's price.
#What Does the RSI Tell You?
The primary trend of the stock or asset is an important tool in...
As we can see brent crude in corrective phase in monthly time frame and again near to breakout levels if it breaks then we can see big rally in this counter
CHANNEL PATTERN :- It is nothing but a formation of two almost parallel lines between which the stock oscillates.
Channel can be of 3 types : 1) Horizontal Channel 2) Rising Channel 3) Falling Channel
It is a constant fight between bears and the bulls and victory is decided by the breakout or breakdown of the channel pattern.
Bulls wins the fight if breakout...
Friends. I thought let's learn this kind of candle pattern seen in Sudarshan chemicals. Based on my observations as well as from the teachings of few technical experts, the following pattern is described.
'When an unusually long green candle is formed followed by a red candle on top of the green candle, reversing the direction, this eventually ends in further red...
Whole telecom sector was under pressure since long yet stock had performed good by looking @ chart now we can say stock has came out of some sort of resistance line and will gain momentum in short term bullish on charts
Toggling between numerous stocks can be tiresome. Using a strategic method to identify potential set ups can save your time and deliver amazing results!
In the above chart,
I first noticed that the price was around its support. It can be confirmed by seeing the previous price swings that the support is well tested.
Next I look at the MACD to confirm if the...
Aster DM Healthcare was in downtrend since listing recently stock given clear breakout above downward trending trend line. TGTs and Stop marked on chart. for educational purpose
What is a Bullish Flag Pattern?
The bullish Flag pattern is usually found in assets with a strong uptrend. It is called a flag pattern because it resembles a flag and pole. Pole is the preceding uptrend where the flag represents the consolidation of the uptrend.
How does Bullish Flag Pattern?
The flag pattern resembles a parallelogram or rectangle marked by two...
1. This is basically a Symmetrical Triangle Pattern. Where Resistance & Support Line tends to cross near future, which is also known as APEX point. Breakout can happen both the side e.g. ups and down. In this chart is it in upside breakout.
2. We've to measure the distance of price range. Which is between Resistance & Support Line, when pattern was developed and...
The stock price is at major RESISTANCE and it is tested many times. It is also trying to the making of DOUBLE TOP PATTERN. If there is any reversal candle then short trade can be initiated and we can confirm the double top pattern. But for going long you should wait for the closing of 15 min candle with good volumes.
HOW DOUBLE TOP PATTERN WORKS
A double top is...
I had this scrip in my watchlist and i had found this sort of Head and Shoulder pattern. I do have some queries about trading this pattern.
Is this a proper pattern to trade?
The left shoulder doesn't match with the right shoulder. Is that matter?
What about SL and Target?
I hope someone will clear my queries🤞🏻
