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 ?
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I have noticed an RSI VS PRICE Divergence on VI chart. Here the price is constant, whereas RSI has declined over the same period. Feel free to comment with your understanding of the same. How will the price reacts because of this.
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
Idea of trading pull back: Find a trend Draw support trendlines Draw major resistances Check reversal on smaller timeframe Check RD in RSI and Pull trigger
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...
" MIRAE NYSE FANG+ index ETF " is an ETF that will track the NYSE FANG+ index which tracks WORLD'S BIGGEST 10 COMPANIES. The FANG+ Index is composed of 10 equally weighted technology stocks—Facebook, Apple, Amazon, Netflix, Alphabet, Alibaba, Baidu, Nvidia, Tesla and Twitter. All the 10 stocks have equal weightage i.e 10%. 1)This index has delivered a return of...
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 concept: 1. Whenever the price keeps approaching a certain level, there are pending sell orders that 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.