These are the results of some range calculations I have been using regularly for some months. These Fibonacci based ranges work for any candle duration.
The present calculation is based on price action of the week April 23rd-27th 2018. Valid from April 30th-4th May 2018
before result infy has been showing strong breakouts on rsi and price both.
on hourly chart it broke small trend at 1138 and gave a good upmove
on daily chart it has resistance at 1180 which price action suggest will break on closisng basis.
on weekly chart
1212 s resistance
expecting a upward breakout.
Hi All,
Let's quickly get to the charts.
I can observe a Bat pattern completed at 10180. This could be taken as a reversal trade setup with traditional targets at 10295, 10330 and 10365.
So If this setup works I would be passively bullish for the above conservative targets. Only on break and close above 10420 (on this chart), I may again play for 10600....
Three things are very popular in TA: W and M shapes; Fibonacci levels; and Elliot Wave. And these three are the building blocks of Harmonic patterns.
It has been observed that the frequently occuring W and M patterns have fixed levels of retracements and projections for each leg. And it is those fixed levels which differentiate one pattern from the other. So the...
One of the pattern that occurs very often is the range. One can trade it easily this formation using only price action without any help from indicators or other studies. Whenever the price breaks out of the range in either direction we can look for entry into the trade. There are 3 ways to enter marked in the chart.
1. Enter on the breakout.
2, Enter on the...
One of the Classic tricks of Institutional is Spending the time between two levels where retail traders tend to take wrong decision and end up losing the trade , This has two possible move which will result in longer term momentum trading ,
1 ) If its making ABC pattern in Channel then after completion of C wave Correction the stock has to rally with very...
Right shoulder is getting completed, so watch out for price action very carefully.
A head and shoulders top is a reversal pattern which can indicate that a contract is about to move against the previous trend.
A head and shoulders top pattern has three peaks -- two smaller ones on the sides and one larger one in the middle.
First, a contract rises to a new...
Hi,
I am back with one more harmonic Pattern -- The CRAB
For a brief overview about harmonic pattern fundamentals, first go to the Post One of this series (link will be soon in the update section).
CRAB PATTERN
In the BAT and the Gartley the price action in the last leg did not stretch beyond the Point X but In this pattern last leg stretches beyond X. In...
Query : What type of mind set needed to become a trader? Answer : Trading/investing is not for faint of heart. It is not for everyone. We have plenty of chances to make money, and there is also plenty of chances to lose money in share market. To make money one should learn technical analysis, form a trading strategy, trading rules, stick to the plan and execute...
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...
