Infratel Long Double bottom Action/Reaction TradeThe 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.
Actionreaction
Biocon Potential short Action/Reaction 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.
TataSteel Short MPL 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
Ajanta Pharma LONG Descending Triangle 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 View as Dr Andrews Action/ReactionNifty 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 the price behaviour at the level.
Tatasteel Intra Day Short Action/ReactionWith reference to learning series of Action/Reaction one can observe how these forthcoming lines work.
Action/Reaction trading method as taught by Dr. AndrewsI am introducing today Action/Reaction trading method as taught by Doctor Andrews (invented the famous Pitchfork method) with an example.
The A/R method requires a "center-line", A line drawn across 3 or more pivots without touching prices in between.
Once the center line is drawn, the next step is to locate a previous low or high pivot point to use for drawing an action line, It is labeled Action line.
Next, a parallel line is drawn at the same distance from the C/L as the corresponding Action line.
Andrews has observed that prices are likely to stop or reverse at Reaction Line.
Please feel free to ask in case of doubts, I would try to answer at my earliest.
Learing Action/Reaction Methods.With reference to my previous post on this subject some mates have shown interest in leaning and waned to make it more clearer so I have prepared another chart with 2 Action/Reaction Set. One has captured the top beautifully and another one is in action so we can observe the outcome in coming days. Any Queries/Question are welcomed. The steps required
1. Draw a line passing thru minimum 3 pivots(if passing thru Gap it works better)
2. clone the line and paste in on last high/low(Action Line).
3. Copy the line and paste in equidistant to the Action Line. Andrews has observed that prices are likely to stop or reverse at Reaction Line.
MCDOWELL_N MPL long trade possible for a good target The stock has formed a bottom and recovering from there. It may test the MPL from above and bounce from there till upper channel. Good trading opportunity may emerge soon so please have a watch on it. Good Luck
