Hi, I am back with one more harmonic Pattern -- The Gartley For a brief overview about harmonic pattern fundamentals, first go to the link in the update section. GARTLEY PATTERN X-A: A strong leg which ends at an important Support/Resistance level. A-B: The most important leg to recognize this pattern. Should retrace exactly 61.8% of X-A. B-C: Should...
Rounding bottom is a trend continuation pattern. And once the resistance is broken/pattern is complete, price action breaks out upside with out retracing.
We generally talk about breakdown and breakout confirmations. I have tried to present what confirmations actually are and how they are traded. Some traders use indicators for confirmations, but in this post i have discussed confirmations based on price action only. Same strategy can be used for breakouts. Notes on the chart. Hit like/comment for better...
While seeing Syngene chart, I found the whole set of emotional movement. Most of the traders think why should we study trading psychology. Emotions moves the price and traders should be able to handle it to become successful in trading.
It is been observed on Daily chart that the price action is forming a harmonic ratio pattern called Bullish Shark Pattern. Now, I have shown two scenarios of the same chart where we can see retracement as per the chart measurments and pattern. Retracement 1 (88.6%) - can been seen near 640 levels and Retracement 2 (1.13%) can be seen at 615 levels. It is for...
Query : I learnt trading myself. Initially I got profit. I started to lose money when I increased my position size. What should I do now? Have you seen any one who learnt to drive car themselves? If you want to learn driving from whom you will learn? Not from race car drivers. Right? I interact with people who want to become traders. They all have this mindset 1....
We keep our home, working environment clean. And we keep ourselves clean. Do we clean our mind? Do we remove the dirts from it? Read the post to understand how it is related to trading as I am not talking about philosophy or health. Every thought comes in our mind forms a pattern. These patterns form as habits. And these habits define us. Similar way every trade...