ONGC weekly chart is exhibiting confluence of three different trendlines: 1. An upward sloping trendline from Nov'20 2. A downward sloping trendline from Jan'18 3. The horizontal trendline at 120 price range The price is is a super interesting place and we will be watching where the it will go from here, ready to bring out our ammo, whether it breaks up or down.
An Anchored VWAP (Anchored - Volume weighted Average Price) lets you make up an idea on whether the control of the market is on side of bulls or bears. Like the traditional VWAP, it incorporates price and volume in a weighted average and can be used to identify areas of support and resistance on the chart. Just like in intraday setup, a traditional VWAP lets you...
Idea of using Elliott wave with Fibonacci level
If you are struggling with the identification of accurate trading entries, you definitely should try confluence zones . Note: there are hundreds of variations of confluence elements. In this example, we will discuss trend lines and Fibonacci. ❗️To identify a confluence zone, the price must follow a trend line (it should match higher lows if the market...
Following price action is at the core of markets. One glance at a chart can show you a trend, trade idea, or serve as a quick way to check the holdings in your portfolio. Candlestick charts are one of the most popular ways to look at price action. A single candlestick shows the high, low, open, and close for a specific time period. This means that a lot of price...
Titan consolidated and now trying to move further up side...Consider it for short term
Fibonacci Channels are used to determine fibonacci support and resistance levels within an identified trend. These channels can easily be drawn in both uptrends or downtrends to find potential areas where price action could change. Uptrend When drawing a Fibonacci Channel on an uptrend, a clearly identified trend needs to be established with higher lows ...
A parallel channel which can also be termed as a price channel is a tool to identify a share’s price in bounded parallel lines. It can be horizontal, ascending or descending. It’s a great tool for those traders who believe or trades with the idea of Price action. A parallel channel can be formed when the price of a security is restricted by supply and...
NASDAQ is closely following the trends of DJI. Even NASDAQ is following the same trend, but it has grown tremendously.
This is a step by step procedure of one of my trading strategies.. I really hope it helps you out.. Peace
SMS Pharma : Flag Bullish Pattern Breakout above 103 SL: 78 Target : 165++ as per technical... educational purpose only
disclaimer - personal view
You will never be the same after watching this trading secret.learn to mark important support and resistance.
Hourly Chart of SGX-nifty shows the speed of movement came down since it got into the yellow parallel Channel and become range bound which is between 13222-13167. Now , until and unless it breaks the higher level of the range it will be in this sideway zone. But if it breaks out the yellow channel then there is the probability of move towards...
If it holds position at 170 will raise upto 187 Resistance which is major
educational learning post