This is the second lecture of the series "basics of the stock market". In this class, we will discuss few candlestick patterns and will try to identify those in the chart.
''Happstmnds Recent IPO"
After very good IPO listing
Stock was in consolidation after Steller listing
was not able to break first day high for quit few times
1. Try to break in first attempt(shown in candle '1')
good volumes seen but candle was weak onw
But BO of this candle not happened
2. Again try to BO (shown in candle '2')
good volumes with very strong...
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2....
i am trying to analyze the stocks in this process will try to share educational content.
Here you see first time price made double bottom at yellow line meanwhile RSI made Higher Low means bullish then up move happened.
Then again price is making Higher highs but RSI showing Lower highs this is called RSI divergence..
Purely educational purpose ...
Identify the underlying trend of the market on a higher time frame.
After identifying the underlying trend, you will have a bias . For example, In a Bullish market, always look for a long trade. Never short a Bullish market. Likewise, in a Bearish market, always look for a short trade.
For opening a trade, use an hourly time frame . Other time...
Now the stock is going to another territory
The ascending triangle is a bullish continuation pattern and is characterized by a rising lower trendline and a flat upper trendline that acts as support. This pattern indicates that buyers are more aggressive than sellers as price continues to make higher lows
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Ascending Triangle Definition:
An ascending triangle is a type of triangle chart pattern that occurs when there is a resistance level and a slope of higher lows.
It is defined by two lines:
. A horizontal resistance line running through peaks.
. An uptrend line drawn through the bottoms.
The higher lows...
![HAPPSTMNDS: ""Classic example of Breakout with Volume"[HAPPSTMNDS]](https://s3.tradingview.com/n/N4hDEtuQ_mid.png "\"\"Classic example of Breakout with Volume\"[HAPPSTMNDS]")
