Get started

Contains image

WaveTalks: Nifty-Can Bulls Bounce Back?- The Irregular Triangle 6th / 7th Oct2021 The index topped at 17882 this morning was a perfect behavior for the last leg downside in an irregular triangle updated in TradingView Author status / Last idea (add on comment). 6th Oct2021 – WaveTalks: Nifty-Irregular Triangle: ( Stops Above 17890 ) Irregular structures are those which is surpassed in the next leg as it happened for Index Nifty starting 17th Sep2021. --------------------------------------------------------------------------------------- Let us take a flashback tour for Index Nifty starting 17th Sep2021. --------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------------------------------------------- Wave A or 1st Leg / Wave Downside- Starting at highs of 17792 on 17th Sep2021 (17792 to 17326 = 466 Points drop) ------------------------------------------------------------------------------------------------------------------------------------------------------------- Considering 17792 High on 17th Sep2021, as the start of the structure, slipped to 17326 as 1st leg downside & pushed upside in 2nd leg to new all-time highs of 17948 (From 17326 to 17948). --------------------------------------------------------------------------------------------------------------------- Wave B or 2nd Leg / Wave Upside (17326 to 17948 = 622 Points Upside Rally) --------------------------------------------------------------------------------------------------------------------- 2nd leg crossed 17792 highs & made a new high at 17948 giving us 1st clue that some irregular structure could be unfolding next as all the moves so far from 17th Sep2021 was corrective in nature which was running across my mind at that moment. --------------------------------------------------------------------------------------------------------------- Wave C or 3rd Leg / Wave downside (17948 to 17452 = 496 Points drop) --------------------------------------------------------------------------------------------------------------- The fall from 17948 highs to 17452 was again corrective in nature. This time I became 100% sure that it is a 75-80% chance that Triangle could be unfolding next & I started putting my sleeves up in excitement as I could be getting 2 legs back to back if identified correctly. This is all I was thinking like a trader. The market pushed upside right from the zone 17450-17475 buying zone suggested as PRZ (Potential Reversal Zone) in the idea published to the TradingView community on 1st Oct2021 - Bullish Gartley -------------------------------------------------------------------------------------------------------------------- Wave D or 4th Leg / Wave Upside (17452 to 17882 = 430 Points Upside Rally) -------------------------------------------------------------------------------------------------------------------- This 4th Leg had to stop below 17948 Highs if the structure had to be correct as crossing above 17948 – this whole triangle scenario could have gone for a toss as structure invalidates. Keeping that in the mind, I quickly updated all the followers in the last idea this morning before the market starts selling below zone 17800-17825 which was an important zone. I agree it was choppy as markets will never give you straight or easy moves & especially when the triangle is unfolding. ------------------------------------------------------------------------------------------------------------- Wave E or 5th Leg / Wave Downside (17882 to 17617 = 269 Points drop) ------------------------------------------------------------------------------------------------------------- This wave was choppy at the start but it was all controlled by the bears till the end of the day when Nifty made low @ 17613 & closed at 17646 @ 6th Oct2021 -------------------------------------- Few things to note -------------------------------------- Our Final Target 17550-17575 is not completed so be careful as the Index may slip to these levels & take support of the Trendline rising upside connecting Wave- A(Bottom-17326) & Wave-C (Bottom- 17452) respectively. ------------------------ What Next? ------------------------ As a trader, we want to know what next. So here it is. When Triangle gets completed which is assumed to be sideways correction in the uptrend suggests that the next wave can be upside in an explosive manner which is seen or observed as a Thrust. In current scenario, thrust is expected upside for new highs or similar highs of 17948 So, Holding Levels 17452 which is Wave C – Bottom & 17326 which is Wave A – Bottom are key & critical level of support. Till the time key & critical support holds we expect Bulls to come back & take the control or be in the driver’s seat next. ---------------------------- Target Next --------------------------- Upside Nifty Index is open to travel minimum 17948 Highs & crossing above it will easily travel 18000+ A New All Time High. -------------------- Note -------------------- Always be careful at the tops as euphoria or crazy moves may put a trader in complacent zone & we forget all about risk management. Historically, It has been observed that crazy upside moves are followed immediately by opposite downside move which can be even bigger in size if happens.
NSE:NIFTYEducation
by WaveTalks
30
All About 200MA |How to use it to take trade with example.Part-1NSE:HINDPETRO All About 200 DMA. How to use it to take Mid/Long term trade. 1)What is 200DMA? It is simple technical analysis tool that is an average of daily close price of last 200days/candles. It is used to smooth out the price and it will remove the intraday fluctuation noise. 200DMA == 200 Daily Moving Average 2)200DMA is the one of the main critical support/resistance that it will work in downtrend or in uptrend. --------------------------------------------------------------------------- How to use it and how to take trade? 200DMA as support: If price is above 200DMA then it will work as Support and it is time to buy trade opportunity. Please refer below chart: 1Day Time Frame 200DMA as resistance: If price is below 200DMA then it will work as resistance and it is time to short/sell trade opportunity. Please refer below chart: 1Day Time Frame ------------------------------------------------------------------- Steps to follow to find and take Trade. Step: 1 Need to find Chart pattern on Daily Time frame; such as bullish flag, triangle, rounding bottom, cup and handle head and shoulder etc… Step: 2 If there is no clear pattern then Judge the price action. If it is trading in uptrend/downtrend parallel channel , If it is in accumulation , if it is in distribution etc…. Step : 3 Find Support and Resistance on Chart Once these 3 steps are clear you have most of all to take mid/long term trade. ------------------------------------------------------------------- NOW Let’s look at example. I am taking HINDPETRO for example. This Part 1 is with buy trade example. Let’s take Step: 1 So, in below chart we found one pattern which is Cup and Handle Pattern. So, our entry will be on breakout of it. Please refer below chart: 1Day Time Frame Step 2 is not needed as we already found Pattern. Step 3 : Please refer below chart for Support and resistance level. We can see that it is having immediate resistance at 190 level and major resistance at 200 Level. Breakout on 190 level will be quick buy till 200 But safe buy will be on breakout of 200 level with SL just below 190 level which will be 185 level for mid/long term trade. Please refer below chart: 1Day Time Frame -------------------------------------------------------------------------- Now the main point about Target: What can be the Target. As our SL is decided at 185 level. To decide our Target, we can go a back in history where earlier it had taken support at 200DMA and gave bullish rally. So, if we see in month from May to Aug it rallied almost 94.65 points after it took last support in near range from 200DMA. Please refer below chart: 1Day Time Frame So, let’s take target of max 90 points from the level of 200DMA. Level 179 was the level at which it took support from 200DMA and now adding 90points we can see 269/270 as our Target. Let’s consider our buy trade entry at 205 level. And Our Target will be 270 and SL will be 185. Hence our Risk Reward will be 65 (up move) / 20 (down move till SL) = 3.25 : 1 Please refer below chart: 1Day Time Frame Even we can see that stock even move higher than our target. But to get higher target we will need to use FIB Retracement tool. For this article let’s keep it till this. Hope I made it easy to understand. Part 2 for 200DMA short trade with example will be posted separately. Do comment your doubt or suggestions. **************this is for educational purpose only**************
NSE:HINDPETROEducation
by Trading_hawk
12
Bullish Intraday Candlestick Patterns for StudyPatterns in Candlestick Charts Candlestick charts are an excellent way of understanding the investor sentiment and the relationship between demand and supply, bears and bulls, greed and fear, etc. Traders must remember that while an individual candle provides sufficient information, patterns can be determined only by comparing one candle with its preceding and next candles. To benefit from them, it is important that traders understand patterns in candlestick charts.
BSE:IDEAEducation
by Amey_Kadam
cypher harmonic pattern #Learning #StockMarket #StockIdeas The cypher pattern trading strategy teaches traders how to correctly trade and draw the cypher pattern. The cypher harmonic pattern can be used on its own and provide traders a profitable forex trading strategy. It is not surprising that geometric patterns are used in forex charts. And the cypher harmonic pattern is a very good representation of that. The pattern is part of the harmonic trading patterns and is the most exciting harmonic pattern because it has the highest winning rate. This is one of the few patterns not identified by Scott Carney. It was discovered by Darren Oglesbee, and though it is technically an advanced pattern formation, it is often linked with and traded together with harmonic patterns. It has particular Fibonacci measurements for every point within its structure.
NSE:NIFTY1!Education
by Jordan_n-
How To Tweet a Chart Image Fast!We realize that sometimes you just want to get your charts out to people as soon as possible. With the Tweet Chart Image feature, now you can! As illustrated above, simply choose "Publish" then "Tweet Chart Image" and you'll be able to tweet the image out directly from your Twitter account to get that critical analysis to your followers fast! What's that? You'd like to do this on your iPhone as well? No problem, we got you. Check out what idea users are tweeting right now here Image Credit
NYSE:TWTREducation
by TradingView
10