Do you know Support and Resistance is not a Price, It a Area (Range) .
Every time price came to this Area (Range) it respected the Area very well as you can see in the chart.
Rule :- Whenever support is broken its become resistance. And when Resistance is broken its become support.
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#What Is Moving Average Convergence Divergence (MACD)?
Moving average convergence divergence (MACD) is a trend-following momentum indicator that shows the relationship between two moving averages of a security’s price. The MACD is calculated by subtracting the 26-period exponential moving average (EMA) from the 12-period EMA.
The...
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#The relative strength index (RSI) is a popular momentum oscillator developed in 1978. The RSI provides technical traders with signals about bullish and bearish price momentum, and it is often plotted beneath the graph of an asset's price.
#What Does the RSI Tell You?
The primary trend of the stock or asset is an important tool in...
As we can see brent crude in corrective phase in monthly time frame and again near to breakout levels if it breaks then we can see big rally in this counter
Toggling between numerous stocks can be tiresome. Using a strategic method to identify potential set ups can save your time and deliver amazing results!
In the above chart,
I first noticed that the price was around its support. It can be confirmed by seeing the previous price swings that the support is well tested.
Next I look at the MACD to confirm if the...
For the purpose of explaining the combined use of these indicators,
I have taken the example of TCS - TATA CONSULTANCY SERVICES, which recently gave a clear breakout.
Know your Lines! - By joining the recent highs and recent lows of a share price, we can identify if the share has a well tested Support & Resistance or not. I prefer those with a clear defined...
Although it is very difficult to explain the difference between different indicators at different time frame and setup, but I’ll try to keep it as simple as possible. I will try to explain with 1 example.
Index: BankNifty (BN)
Timeframe: 5 Mins
Trading: Intraday only
Date: 26th Aug
Indicators for Strategy 1: BB + RSI (9) @ 50 + EMA (3) on RSI + WMA (21) on RSI
...
