Nifty has been in the parallel channel for quite some time and has completed the 5th Elliot wave. We are likely to see a zig-zag correction where wave A is completed. Wave B is most probably the last bull run we'll see ahead of Diwali. The support line of the parallel channel is likely to be broken and I'm expecting a sharp correction in nifty (wave C) to 17000...
Market structure is one of the most undervalued topics in trading. People don't spend enough time learning about it. In this thread, I'll try to touch on all the important aspects of market structure. Introduction Market structure is simple and a basic form of understanding, how the markets move. The Price Action is how the market moves based just on price,...
# STEPS # first see that the price is respecting moving average ( there is no best moving average) # second draw a trend line like this example # entry trigger is the candlestick patter Important - the price must in uptrend and tested moving average 2 times Keep learning and earning
Look at past breakouts as well. Showing steady progress with frequent Breakouts Hope history tends to repeats
Look past breakouts as well Showing steady progress with frequent Breakouts
Whenever price make higher lows or lower lows into any support level and resistance level It will show a good BREAKOUT OR breakdown Or When ever any big move into support level and resistance level it will not break the resistance level and support level Keep learning
The above chart is of TCS on 15 min TF. The chart has formed various patterns and shows the price action after successful completion of the pattern. Hope rarely we can found a chart which exhibits most of the patterns in a single chart. Here are some of the patterns which i was able to identify: (A) Bullish flag pattern: After recognizing and marking the...
Bearish patterns are drawn upsloping. Bullish patterns are drawn downsloping. BC is normally 0.382-0.618 of AB. BC of present upleg is closed to 0.618. Time hormony gives date of 26th Nov to form CD around 17230. I am using ABCD pattern for the first time. CD is not a target but just an estimation of downtrend if continues. You can't short on the basis of Bullish...
A Tutorial on Support and Resistance - Part 1. What are Support and Resistance ? Support - Is the price level from where people expect maximum buying/demand to come. 1. Price is falling and it is expected to reverse and move up from Support. 2. Support level is always below current price level. 3. Is used to create buying positions or book profits in shorts. ...
The price range for Gujarat Gas for short term gains.
Current wave counts Primary-wave 2 (orange) Intermediate-wave A (Blue) Minot-wave B (Red) Minute-wave C (Yellow) Applied Neo wave Impulse Rules: 1)Counting started from faster retraced low 2)wave 2 should not retrace wave 1 by more then 61.8% 3)wave 2 should be equal or longer then wave 1 in terms of time 4)0-2 TL should be clean and price action of 1 should not...
Solutions are most welcome! Tell me how can i solve this .
In this post i have tried analyzing chart by combining both price/volumes and time factor simultaneously. For deciding trend and predicting price i have used Elliot wave theory and for timing and entry/exit i have used cycle theory. Elliot wave theory Impulse wave rule: 1)Wave 2 can't retrace wave 1 entirely 2)Wave 3 can't be shortest of wave 1,3 and 5 3)Wave 4...
SUNTV It is respecting Fibonacci retracement points and same as old trends over 1 year.
Why Paytm fell so much? 1. Paytm's Rs 18,300 crore IPO, which was the country's largest- this meant a large supply which needed large demand to support it's price. 2. But was subscribed 1.89 times only, this meant lack of demand. 3. Paytm is yet to turn profitable and Is likely to report losses for coming few years. 4. All above points created negative...
5 waves upmove of EWT completed in Neuland and then it gave bearish Head and shoulder breakdown. After breakdown it created a gap. Price cam to fill the gap and started trading down. Parallel channel is also visible in recent consolidation. Price may do zig-zag within the band giving false bullish EMA crossover to onboard the new investors which missed the...
RUPA and Company Rupa had rallied for more than 100% in just one year. Since then it has also dropped 15% since 52 weeks high. Position can only be taken above today's high and might struggle near the trend line drawn. Let me know your thoughts. Thank You!
HINDUNILVR - HINDUSTAN UNILIVER One of the well-known FMCG companies has fallen -16% from its 52 weeks high. There are some support and resistance which I found in the chart. Let me know how it looks for you. Thanks!