When price break any well defined boundary above 200 DMA then high probability price continue the trend .
Always near well defined boundary a reversal candlestick act as trend reversal .
A Symmetrical Triangle is considered a bullish signal, indicating that the current uptrend may continue. It is a bullish continuation pattern. It is a volatility contraction pattern. This means volatility in the market is shrinking and a sign the market is likely to breakout, soon. A Symmetrical Triangle shows two converging trendlines, the lower one is ascending,...
This charts shows the possible areas where one can look for trading opportunities (through Price Action Strategy) and be profitable from it. Swing Trading is better for beginners in Stock Market and Price Action is one of the ways to approach Stock Market. Through Price Action, one can identify the current market structure (uptrend/downtrend/sideways) and so...
In this chart you can see that price is respecting parallel channel.
if price wants to grow more , their is no concept of truncation.
wave 5 may have to travel 78.6%.
price may destroy resistance and we can also get pull back.
check related idea for more detail.
if their is reversal we can get signal by candlestick patterns.
Post covid IDFC FIRST has been moving up in an impulsive manner.Impulsive move advance's price in 5 waves of which 1,3 and 5 are in the direction of primary trend and 2 and 4 are counter trending.
Elliot wave Patterns discussed in this chart and it's rules.
*Elliot wave impulse pattern and rules:
#Impulse pattern
1)Wave 2 doesnt retrace wave 1...
1] When Price is Open=high and also below pivot level, and rejected from previous day close .
2]Also broke Previous day low with strong candle - Indicates (bear are strong) bearish view and can go aggressively bear side.
3] When price gets rejected from previous day close , it stay bear side and less chance of reversal (week Bull) when it break...
What is Price Action Trading Strategy?
Price action trading is about understanding the imbalance between buying and selling pressure so that you can identify trading opportunities and make a profit.
Before we discuss about Entry, Exit and Stop Loss Signals, I would like to tell you some basics about the Market Structure, Support and Resistance and Candlestick...
Hello Everyone,
Here You can see on chart bank nifty today panic fall from top, but why??? last 2 days market in Bull run...then why panic fall today??? so, don't worry I am here for analysis why fall.....
1) First you see market fall continue previous days and made Triple Bottom on chart you can see,
2) Then market Next open Gap up and Continue move upside and...
An Island Reversal is a piece of price action that is completely broken off from the rest of the chart. It has a gap before it (Exhaustion Gap) and a gap after it (Breakaway Gap).
A bullish Island Reversal starts with a down gap in a bear trend. After a period of sideways trading, the market gaps upwards to reverse the bearish trend. A bearish Island Reversal...
Why Fibonacci Tools?
Fibonacci tools can help traders to determine upcoming support and resistance areas.
Unlike other indicator which works on historical data and mathematical calculation considered to be as Lagging Indicator.
For Example: MACD, Stoch RSI, Bollinger Band etc.
Where as FIBONACCI tools does not come from any formula and historical data, it is...
NIFTY has been trading in a ascending channel for the last few months, properly following and respecting the course of the channel until yesterday when the new variant of the corona virus has seen a negative impacts on the global front.
There was a gap down and also a breakdown as we can see the red candlestick has clearly breached the lower support of the...
# 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
If you want to trade breakout unhave to keep some points in ur mind
1) See price action near the resistance level
# price consolidation
# candlestick pattern
# volume
2) If u miss the trade on BREAKOUT level don't worry price will do 2 thing
# price retest the key level
# price take pause in terms of...
Channel patterns and triangle patterns just consist of support and resistance lines.
In a channel pattern, support and resistance lines are "parallel".
For a resistance or support line to be valid or strong there should be at least 3 touchpoints.
In the given chart, there are more than 4 points each that touch the resistance line and support line.
In all 3...
In this article, we analyze NSE:GRASIM using VWAP and parallel channel.
A parallel channel consists of two parallel lines and a middle line which is equal distance from the upper and lower band of the channel. All of these three lines can work as great support and resistance as you can see in the chart.
Along with candlestick patterns I like to use VWAP to make...
How to ride on a swing trade?
One good strategy in price action is to use 21 EMA and ride on swing trades for short or long terms. 21-day EMA can be called as the Goldilocks of all moving averages. 5,8,13 can be too tight and 50,100,200 are too loose for looking at moving averages, hence 21 EMA can be considered as a powerful average.
In this strategy 21 EMA LOW...
Here are a few setups that I use in my day to day trading. They work well in all the timeframes and in all types of markets.
I am only showing bullish scenarios due to space constraint but one may also look for bearish scenarios which work in the same manner. Like Down trendline or Downward sloping channel; downward sloping MA; breakdown of a range; and price...
