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We can draw beautiful Action/Reaction setup which is suggesting a price reaction at current level therefore one can book the profit of their long position and be ready for shorting the stock. Those who want to learn and practice it I am giving guidelines as given in his course material
First we draw a Multi Pivot Line : A line drawn across 3 or more pivots ...
We can draw Beautiful Multiple Pivot Line capturing the price movement since last 6 months. It is showing that strength is returning as there was big gap bar which was not filled and again today it has made a 3LR reversal bar with gap. Double bottom Neckline at 330 can pose some resistance so defensive trader can wait for the breakout of that level byt aggressive ...
The stock has broken all time high but could not sustain. AR set is suggesting price reaction at current level. It is forming Head & Shoulder pattern. One can short the stock here for a target of 260 by providing a stop loss of 301 on closing basis.
Disclaimer : All ideas and comments are my personnel view. Please take financial consultancy for trading decision.
Please refer the Chart.
Banknifty has fallen almost vertically 10.4% in last 16 bars, so natural question is where would this free fall got arrested. We can try to find the answer in the light of Action/Reaction method. There is a beautiful center-line(Multi-Pivot Line) with 5 touches so it could be considered reliable. AR set based upon it is suggesting that we are now close to the zone ...
Please refer the chart for analysis and trade levels.
The stock has broken beautiful center line which could be used for making a Action/Reaction set as explained by Andrews. Today's spike could be due to high volatility in the opening session. Demand is seen at that level. RSI reading above 50 is also confirming the decision so one can go long with following Entry/SL/Target.
Target 1225 - ...
Please refer chart for analysis and trade levels.
The stock has broken a long term trend line. It could retest it from below and continue the bearish downward journey. One can easily expect the target of range doubling zone.
Action/Reaction set is suggesting that the price has reached at the level where a reaction is expected. This setup is more reliable if the CL is passing thru a gap. One can take advantage of this setup in their trading either by booking profit in their existing long position or by initiating a fresh short trade here. Newton Law of physics works nicely on prices ...
Although the Action/Reaction method as taught by Andrews is a very good trading setup but is less known by Indian traders so am explaining it step by step.
First we draw a Multi Pivot Line : A line drawn across 3 or more pivots without touching prices in between.
The next step is to locate a previous low or high pivot point to use for drawing an action ...
The stock has nicely formed parallel Channel and gave valid breakout. It is retesting the upper line from above. Today's engulfing showing buyers are emerging at this level. One can buy the stock at current level providing stop loss of low of today and can expect the target of 90. It offers a good Risk of Reward ratio.
Andrews Action-Reaction methods suggests a short at this level. We have observed a good Multi Pivot Line which can be used as a Center Line. We can expect an reaction from the current level so the stock may be shorted here with the recent high as stop loss.
The pattern is simple and clear so doesn't require much details. After breakout it is retesting from the above which could be an opportunity to go long with small stop loss. It has also broken the down sloping trendline.channel and trading above it convincingly another confirmation for a trend reversal. One can look a target of 357 - 370.
Andrews Action/Reaction method has suggested a short and it made Big Red candle showing the selling pressure at that level. It has also broken the short term trend line telling the weakness at least in short term. Prices are retesting the Supply Zone and trend line from below, so one can put the stock into their radar and short the stock on seeing the weakness.
One can short the stock at this level for a target of 456 Stop Loss 477. Good Risk to Reward ratio of above 3. Good Luck
Nicely formed Descending Triangle has given breakout today. Action Reaction method of Andrews suggest that price can easily reach 1970 - 2000 in coming days. Stop Loss 1780. Good Risk to reward ratio.
Nifty has reached at interesting level as per Action/Reaction method taught by Andrews. A price reaction is expected at this level. Although the market seems to be in strong bull grip but I would be very cautious in taking fresh long trade now and start looking for shorting opportunities. RSI is also in extreme overbought zone confirming the view. Friend can watch ...