As a trader one must always look for a High Confluence setup. At least 3 technical points should meet at each other to be called as high confluence setup.
In this case of $LRC
1. Price crossed trendline
2. Support zone successfully retested and created a demand.
3. Price also reversed from 50% Fib retracement.
I am loving this, I am taking trade in it with entry,...
Confluence or High Quality trading is where 3 or 4 technical signals merge with each other.
BINANCE:MAGICUSDT showed up a nice confluence with FIB Levels, Exponential Moving Average, Trendline break and all that at Support zone.
This High quality trade is what a Daytrader should always patiently wait and look for.
All my level are marked in the picture. Let's...
NSE:IRCTC
The price, after the breakout from the channel pattern is regularly testing the Trendline and taking a support from it. Now the price is again testing the trendline, and also testing the confluence of the major moving averages. This is the reason I am very confident on this trade. This is a positional trade for upto 3 months. This Target levels are 758...
Another reversal pattern at important juncture,
It seems like profit booking has occurred at supply zone.
Evening Star formation :
The support holds at low of first candle and same level has been tested today
17300-350 level is the point of the control zone , it has maximum volume spread.
Price pattern has created a confluence zone ,
It would act as...
Two scenarios .
1. The stock has made H &S pattern. The pattern must break the historical support and retest the area for confirmation showing bear grip.
2. The area of confluence + Strong Q1 results + positive global sentiments shows bullishness in stock. A rejection long wick candle validates this but the H & S pattern formed may trap investors.
3. Since the...
NSE:EICHERMOT
Eicher Motors Limited, incorporated in 1982, is the listed company of the Eicher Group in India and a leading player in the Indian automobile industry and the global leader in middleweight motorcycles. Eicher has a joint venture with Sweden’s AB Volvo to create Volvo Eicher Commercial Vehicles Limited (VECV). VECV is engaged in truck and bus...
Point A on the cypher will act as an inflection, it may rip up to target D, or it may respect spirals and pullback. Angles 28 and 108 converge on 13.81 x 1/28/22 with cypher confluence. There are also target areas on C (14.44 x 4/14/22) and D 93.6 x 9/3/22.
HINDUNILVR is taking support from its major support line also at the same time it is taking support from its short term horizontal support area.
Wait for up trend confirmation on daily time frame to enter, it can be a good risk to reward trade.
Also if you have noticed , I didn't posted any analysis in the past few days. The reason for this was falling market.
In...
ONGC is trying to break the Bullish Rectangle pattern.
Buy above 164, but volume confirmation is crucial. Stop loss at 153.
The target is set by XABCD bearish crab pattern and bullish flag pattern.
Happy trading :)
This is just for educational purposes.
Confluence:
1. Moving Average
2. Break of Structure
3. Fibonacci golden level
624-630 are the demand zone levels. Once price reaches the zone, wait for candlestick confirmation and break of structure in retracement trend.
Here we can see distribution in Granules after a long run up since the last few years.
Its advisable to take small quantities with a longer time frame in mind.
The Rectangular marked space is a confluence area on the daily chart, expect the zone to be held buy buyers. If everything plays out well we should break out on the upside by the end of this year.
REASONS FOR ENTERTING TRADE
1. A pole flag structure with the base of the flag bouncing off the 200EMA.
2.This 200EMA bounce point coincides with the long-term support trendline,
3. & the 61.8% retracement of the pole.
3. Price sustains above the flag range after retest
Buying above 65 for a projected price target which is set as the pole height, from the...
BhartiAirtel is showing a symmetrical triangle pattern and a triangle pattern with a long term demand zone.Wait for a breakout.preferably upward movement is coming and take a long postion with a target of 600.
