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Double Bottom

Learning/Trade Action Reaction Set as taught by Dr AndrewsAlthough 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 line. Next, a parallel line was drawn to the right of the C/L, Notice that it is the same distance from the C/L as the corresponding Action line. The Law of Physics stated by Newton that Action and Reaction are equal and opposite is applied and it works wonderfully. One can train his eyes by drawing such set and in case of doubts/questions just ask I would try to reply. Happy learning and wishing all mates a profitable Prosperous NEW YEAR 2018 .
NSE:SUZLONLong
by praveen.bhatiya
11
ALBK - Head & Shoulder -2nd Innings starts soon above 72.50 -881st Innings Head & shoulder breakout + confirmed by double top@73.50 gave the push upside & turned from 77 highs which was shy of 1-2 points from 79-80 -closing last trading day at 71.50 levels. Price has pulled back to the neckline which can give another opportunity to bulls & this time if it surpasses 79-80 zone then it attempts 88-90 zone next. Once it starts moving in your favour, you should keep trailing with profit stops. Trading Plan Likely ALBK can hold into Right Shoulder zone 69-70 or moving above 72.50 - we need to keep a watch as it could be early signal for 78 - 80 zone & above 80 for 88-90 zone. Head & Shoulder -1st Innings above 73.50 Long Term Analysis turning above 65 - Lawyer back in the courtroom
ALong
by WaveTalks
21
ALBK -Magical Words-Sim Sim Door opened@66 for 80+ & H&S PatternWe continue with ALBK (Allahabad Bank) as suggested in the previous post that we can plan to buy ALBK if it comes close to 65-66 Zone- Traders should look to buy if it remains above 65 which was our stops downside I have updated previous post twice when it was close to 65-67 Zone - Please say - "khul ja sim sim" the magical door opened & obliged us by holding above 65 -an important level. How this magical word was connected with Technical Analysis. Double Bottom Trendlines Bullish Candlestick pattern Head & Shoulder Double Top next at 73.50 levels - these are magical words - Sim Sim for an analyst in the world of Technical Analysis. Now, let the journey continue above double top@73.50 with post breakout above Head & Shoulder Pattern. Target Measurement Measure the distance from head bottom to the neckline - keep the same distance (in our case it is vertical red trendline) above the neckline so we get target as 79-80 Next. Trading Psychology / Investment Psychology Set of few questions as mentioned below by Dr. Van K.Tharp, which can help in becoming a better trader are "(1) To recognize trading opportunities, (2) To organize your investment information and manage risk, (3)To wait for the right opportunity, (4)To avoid failure thinking, (5)To prevent your personal life from interfering with your investments, and (6)To be responsible for your investment. In addition, the test measures (7)The extent to which you invest to make money compared with other investors and (8)The extent you have defense mechanisms that prevent you from becoming successful. Finally, you can compute an overall percentile ranking which allows you to compare yourself to other investors in terms of your overall investment psychology skills." Clearly, this is valuable information. In fact, simply filling out the form can provide real insight, This can be of real value or insight if Dr. Tharp delivers the analysis for above set of questions - Does he? For this you can refer - Book -Invest Psychology Inventory by Van K. Tharp or You can read the book - " Trading Beyond the Matrix" by Van K. Tharp. Previous Update - Lawyer back in courtroom
ALong
by WaveTalks
6
AmaraRaja Battery : Will you last for 30 points ?!We have a dual setup here in Amaraja, you can either go on higher timeframe to find Double bottom entry, or the channel breakout entry on pullback and aim for trade continuation of Double bottom targets. You can do it either way but what matters is whether your plan allows you to take that kind of risk. If those swings happen as predicted we will be having a range channeling on daily breakout, the only worrisome point is that wick piercing downside bcos we don't know whether its stop hunting or market intention, unless chart evolves. But just for a wick, we can't scrap our tradeplan. So if this one suits your plan n risk, go for it !
ALong
by InsiderB
3