Sharing a mistake I made and how I corrected it. On Weekly chart, I saw a nice rounding botton pattern and stock close to ATH with a BO candle of 26 July 2021. I also saw volume expansion on that day as well as expansion since the candle of 18 January 2021. I went long at approx. 270. Although RSI was above 60, what I failed to see was RSI High was flat. And...
This is for educational purpose only. Decision-Long Details are on the Chart. Happy Trading
Trade by Combining Basic Technical Analysis. How to enter in a trade by combining basic knowledge of Support/resistance and Candlestick patterns and Chart reading.
I have based my analysis on Stan Weinstein's framework on Weekly chart where price structure, 30 weekly MA, volume and relative strength (not RSI) play a role in analysing the trend. Personally, I like stocks near ATH because it tells me that prior resistance has been broken. It is important for me to select stocks that have strong relative strength against a...
6 Mistakes most traders repeat in trading. Not beginners but even experience traders face these issues.
Basics of Price Action | Multi Candlestick Patterns | Basics of Technical Analysis
A breakout trade will work almost right away from the start, if the breakout happens with huge momentum and then you see Doji candles or hammer then there is a problem with follow-up. A bullish breakout must always be accompanied by a good follow up, else it cannot sustain. Bullish breakout needs good bullish candles, not Doji. Note-As soon as you enter a...
Stock is in a down trend considerable flag pattern formed overall looks very bearish
( For Educational Purpose Only)
( For Educational Purpose Only)
( For Educational Purpose Only)
( For Educational Purpose Only)