👑 Terms used if you don't know : ✣ An inverse head and shoulders also called a "head and shoulders bottom", is similar to the standard head and shoulders pattern, but inverted: with the head and shoulders top used to predict reversals in downtrends. This pattern is identified when the price action of security meets the following characteristics: the price falls...
For paper trading, -Ramco cement gave horizontal breakout as well as multiyear trend line breakout. - Start accumulation at retest of 1110 rupees. -
Can Banknifty be upside down from here ?
OBEROIRLTY: Swing trade Ascending Triangle Breakout In Ascending triangle pattern the upper trendline is flat, while the lower line is rising. This pattern indicates that buyers are more aggressive than sellers. It is considered a bullish pattern and is usually resolved with a breakout to the upside. The pattern is completed on a decisive close above the upper...
A confluence of support or resistance is simply an intersection of two or more important levels. Market participants prefer to trade around a zone that involves two or more factors rather than a zone with just one. The probability of winning is higher around confluence zones.
Forming a Rising wedge and Flag with good volume support- keep in watchlist and watch out for up move PS: this is my own view, before you trade, please analyse it throughly
Myth: If the price approaches a level repeatedly, and gets rejected from it, this means that the level is very strong. Reality: After each touch, the level becomes weaker and weaker due to the absorption of the residual orders. Underlying logic: 1. Whenever the price keeps approaching a certain level, there are pending buy orders which are waiting to be...
Having a genuine flag(pennant) pattern breakout in bsoft. I added @405 levels. It is for educational purpose keep following for more ideas like these
I am a semi-systematic trader and my pattern scanners will more often than not look for the same patterns. After my MHRIL trade, this one is slightly different although the underlying principles remain the same. So every trade posted here will have nuances that must look out for in a breakout trade and I will try my best to explain them.
This tutorial is meant to simplify trading breakouts, avoid getting stop-probed, busting some myths and the logic behind breakout patterns. This is my first article any sort of feedback is welcome as long as it is civil.
General information regarding cup n handle pattern. LT used as an example only. This chart pattern was first popularized by William J. O’Neil. The cup part of the formation is created when profit taking sets in or the market itself is in a correction and the stock sells off and forms the left side of the cup to the downside. The cup bottom is formed when the...
Rsi is up n above 60. Let us see the b/out.
Inverse Head and shoulders Pattern is the mirror image of head and shoulders pattern. Read about Head and Shoulder Pattern here: Inverse H&S Pattern is bullish reversal pattern. Signals the traders to enter into long position above the neckline. Volume play a major role in both H&S and Inverse H&S Patterns. Usually the spike in volume on breakout is...
Rules for Profit Booking. Biggest issue everyone face in regular trading.
Why we have seen 646 (13777-13131=646) points down move in Nifty in a single day. The reason was, from 12730 market moved to 13777 which was 61.8% in fib level for 3rd wave. Since 2nd wave was flat, the 4th wave was impulsive. So we have touched 61.8% and bounced back for 5th wave move. what happens to 3rd wave, if 1st wave gets extended. You have to learn...