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Chart Patterns

Head and shoulder pattern EXPLAINED HEAD AND SHOULD PATTERN I am sure that you heard about the head and shoulder pattern this is the best example of head and shoulder Head and shoulder pattern is good for reversal of price but if u trade head and shoulder in isolation The. U must stop out . THE strong uptrend donot reverse just because of head and shoulder Remember - never ever go against the trend , trend is ur friend but in this example the price cross below 200 SMA So this is good reversal entry HOW TO USE HEAD AND SHOULDER PATTERN # see this pattern on higer time frame # see 200 SMA for confirmation ( long trade above 200 SMA short trade below 200 SMA ) # watch price action near neckline And I sure u know how to avoid fake breakout from my earlier post Remember- alway follow risk management , be patient KEEP LEARNING FROM UR MISTAKE AND BECOME GOOD TRADER
Education
by TRADELIKEPROFFSIONALS
REAL BREAKOUT EXAMPLEIf u want to trade breakout then you have to focus on price action Near resistance level # The price unable to break a resistance level for long time First time the price break the resistance but it is a feke breakout Second time price break and show a massive move How to avoid fake breakout # have patience the price do 3 things if it is real breakout 1) after breakout price will retest the resistance level 2) or price took pullback this best time to enter 3) price will consolidate and stay above the key level for some time A FALSE BREAKOUT REVERSE BACK IMMEDIATELY WITH BIG PRICE REJECTION AND MOVE SHARPLY DOWN REMEMBER - HAVE PATIENCE OR LOSE MONEY
BYBIT:BTCUSD.PEducation
by TRADELIKEPROFFSIONALS
BEST WAY TO TRADE BREAKOUTIf you want to trade breakout unhave to keep some points in ur mind 1) See price action near the resistance level # price consolidation # candlestick pattern # volume 2) If u miss the trade on BREAKOUT level don't worry price will do 2 thing # price retest the key level # price take pause in terms of pullback or consolidation after breakout ( First pullback is the best entry for risk to reward than trading breakout it may fail ) BE PATIENT TO BECOME AN PROFITABLE TRADER REMOVE ALL FOMO FROM UR MIND Remember - let ur winner run and cut ur loss as soon as possible WORKHARD AND BELIEVE IN YOURSELF
BYBIT:BTCUSD.PEducation
by TRADELIKEPROFFSIONALS
Proper explanation of a BULL TRAP BULL TRAP The price is taking resistance from a key level many times . The trader are waiting for price to break the level The fourth time the price breakout the key resistance level the immature trade took entry without confirmation Of ( pullback, retest or consolidation) and had stoploss below the resistance level Once the price get back to support level the stoploss of all trader get triggered which support the downward Move . Secondary the trader who are waiting for shorting opportunity are also put price downward Due to the both type trader price come down sharply BEWARE HOW TO AVOID FALSE BREAKOUT OR TRAP 1) Alway trade breakout when price do these things + Take pullback after breakout + Come back for retest and continue after retest + Price stay above support level for some time or may consolidate before upward move DONT IN HURRY YOU GET THE OPPORTUNITY FOR SURE IF U HAVE PATIENCE REMOVE FOMO FROM UR MIND OR FACE LOSS
NSE:SUNTVEducation
by TRADELIKEPROFFSIONALS
Axis Bank Wave countElliot Rules and guideline 1)Wave 2 should not retrace entire wave 1(Here on cycle degree it retraced wave 1 by 61.8% which is ideal as per guideline) 2)Any one wave entend's other 2 by 161.8%,other 2 being equal in length(As per guidelineTypically wave 3 extend's and 1 & 5 tends towards equality).Here also Wave 3 extend's wave 1 by 161.8% and wave 1 and 5 tends towards equality 3)We see two different forms of correction in wave 2 and wave 4 one being regular flat in case of wave 2 and other being triangle in case of wave 4 (Triangles are typically formed in wave 4 which is seen over here) which is signifying asymmetry between both the waves. Current count as per above logic and rules application. Super cycle: Wave 2 Cycle: Wave C(might have begun) Before covid prices has started showing weakness and already been correcting,and on the back of covid panic it completed cycle degree wave A of super cycle wave 2.Since then prices has been moving up in an corrective manner and when it approached previous ath levels it faced rasistance.So far we have seen 3 attempts made by price to penitrate ath which all failed to sustain on closing basis.We are also seeing a negative divergence on RSI indicating top formation.Along with this negative divergence price was moving in a rising channel which also got broken and previous pivot low were broken in lesser time then it took to form. Going ahead we might see an impulsive down move unfolding to complete cycle degree wave c which would complete super cycle wave 2.Price wise super cycle wave 2 has already retraced super cycle wave 1 by 61.8% during wave A formation hence current fall should not break those low's(Covid lows).It is possible that wave C can stop any of the retracement levels be it 23.6%,38.2% or 50%(not shown over here) to complete super cycle wave 2 flat with truncated wave C correction. Disclaimer:This are just my views do not trade on it's basis.I am post this analysis just for my future reference purpose.
NSE:AXISBANKEducation
by UNDERDOG-29
2
Tata Steel - Did you buy the 'Good News' ? TataSteel - NEWS - Results on 11 Nov, highest ever quarterly profit. Expectation - Strong buying and big trending move. What actually happened ? - Fall from 1340 to 1271, down 1.3 %. As usual news channels hype the results, so called 'analysts', big players declare it the best thing ever. Those unaware of the game buy this fake hype, they buy at open.... and who is selling at the other end ? YES.. many of your favorite analysts, big players who were telling you to buy just a day earlier. Harsh reality of markets- 1. News channels actually know nothing. 2. Big players are not here to do any favor to you, they have become big from money of people like you and me. Sooner we realize this sooner we will be on the right path.
NSE:TATASTEELEducation
by NaveenGr
6
Pure Price Action TradeIn this Idea I'm going to share the simple price action trade which I have taken the May month in the stock D-MART. Before taking any trade a trader must have find at least 3 confluences which align in the same direction so that we have a clear vision of the particular trade either it's a short trade or buy. By doing you are following a number of certain rules that will help you to make your trading emotionless and more disciplined. For me I'm fan of price action trading which undergoes through Trends, S&R levels, Candlestick pattern, Chart pattern and sometimes EMA also. In this trade of D-MART the price was facing resistance continuously from Area-1 and taking support from Area-2 at the moment when it broke the support level it made a proper morning star pattern at a very crucial S&R level which I had represented by the purple horizontal line. Human nature and psychology could never change so this pattern can come again. At this point we can easily see the confluences- 1)Trend- Reversed 2)S&R LEVEL 3)Candlestick pattern Entry- 2809 Stops-2668 Targets-3090 R:R = 1:2 -NITIN
NSE:DMARTEducation
by NITIN_YADAV
UPSIDE POTENTIAL IN UPL(FALLING CHANNEL)A descending channel is a chart pattern formed from two downward trendlines drawn above and below a price representing resistance and support levels. The descending channel pattern is also known as a “falling channel” or “channel down“. The more such reversals occur, the more reliable the pattern. There are three scenarios the price rises after breakout, the price retests the trendline and that trendline now becomes support in both situations there is a good buy opportunity. the third scenario is the breakout is fake and our stop loss hits. this is not investment advice and I am not sebi registered this is just for my own educational reference.
NSE:UPLEducation
by atifsharif7865
4
Cup and handle formationThe stock has clear resistance from 117 to 121. It has tried to breach this resistance, however, we can see a big selling. Now the stock is possibly making a cup and handle formation . Price change from the bottom of the cup to the top of the cup is around 45 Rs. If it able to breach the resistace of 118, we can expect up move of 45 Rs from the top of the handle which is coming around 160 Rs. Investors with medium to long term plan should start accumulating this share from this point onward as it is creating a base and a strong support at current levels. Investors should accumulate the stock in each dip until the levels of 120 for very good returns. SL - 90 Weekly basis.
NSE:IOCEducation
by AbNamjoshi