Usually this wave structure forms in an impulsive sequence as wave 4 . It consists of 5 sub waves as wave-a , wave-b , wave-c, wave-d and a final setback wave-e . Each of these waves consists of three wave internal structure. Each of the waves should not break their extreme points. The final confirmation to enter the position comes when the price gets close above...
TF - Monthly -
Aditya Birla capital had broken out descending trendline at 80 . But, due to supply pressure, it couldn't make a new high again. It ends up making the same high(double top).
AB CAPITAL has made a monthly consolidation range of 139 - 95
As per the monthly chart, AB CAPITAL can take support from 78.05 .
Three reasons to consider this level:...
nifty - the market progressing c or 3rd wave. 3rd is a longest wave so here the market breaks the previous day low then we will expect a sharp and longest correction.
Silver had broken support trendline and closed yesterday below 20 day moving average, which is clear sign of bearishness ahead. After bounce from lower end of falling channel it got rejection at upper end of falling channel, also RK's Momentum turned in sell mode, all other trend indicators like macd, rsi etc. are also suggesting same bias, According to wave...
This question has been asked before. It has been asked now. I will be asked in future. What question is that? It is nothing but, “How to select stocks to trade?”
From beginners to expert traders, everybody knows stock selection is important. Especially for intraday it is very important as same stock won’t give movement daily.
There are two methods. One is to...
Nifty is in consolidation phase. This may or may not lead to a bear market and let’s not discuss it as of now. I will try to analyze Nifty, on the basis of support and resistance levels and time cycles, for the next possible swing and its direction.
Support and Resistance levels
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It can be seen on the chart that Nifty made a...
Pattern name: Bearish Engulfing
Pattern Type : Bearish Reversal
No. of Candles : 02
How to Identify it ?
1)There must be a preceding Uptrend.
2)A short Green candle followed by a long Red candle.
3)The Red candle should opens higher & closes lower than the Green candle.
4)The Green candle should be completely engulfed by the Red candle.
Psychology...
Hey everyone! 👋
This week, we will be taking a look at the ingredients that go into creating and posting high-quality trade ideas.
While many think that a good trade idea begins and ends with finding a high probability chart setup in a liquid, volatile asset, the *best* trade ideas often combine multiple disciplines - which could include macroeconomic analysis,...
Simplicity Is the Key to Success . The simpler we keep things, the more successful we will be. It's as simple as that. Therefore, Action & Reaction is very simple to understand and act. Let's move ahead.
Two types of movement in the market: Consider an uptrend and, bulls are in charge. The first major move in trend is the Actionary move . when finally pause to...
Different types of emotions, questions, doubts arises in our mind when we see our capital depleting overall , we see a big portion of our capital is gone now ,we left with very less compare to initial capital.
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Different concussions made by different traders
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1) They loss because of manipulator ,...
Here the matter of concern is where, the complete structure is heading towards?
Is it towards further complex correction or correction has now been ended? Let's find out.
Here, BNF has completed, ZIGZAG correction as per Elliot's standard rules. (Till Period 08-03-2022)
ZIG ZAG waves personality
Patten- ABC
Sub waves- A(5,3,5), B(A,B,C) & C(%,3,5)
Fib...
If you have been in the market for some time, you may have heard of “Fibonacci retracements” . Today we are going to share an informative write-up along with a few exhibits that may help you solidify your understanding of this concept.
Table of Contents:
1. What are Fibonacci levels?
2. What is the significance of retracement levels?
3. How to find...
Nifty | Range perspective:
- The price has been moving in this range for the last 2 weeks.
- The range is 650 points wide. Using the measurement objective provides us with a target of 650 points in either direction.
- This means that, whenever the price moves out of this range, we can expect 17k or 15k.
- I'd be looking to trade either direction with a strict...
What is the Shooting Star candlestick pattern?
A shooting star candlestick pattern is a chart formation that occurs when an asset’s market price is pushed up quite significantly, but then rejected and closed near the open price. This creates a long upper wick, a small lower wick and a small body.
The upper wick must take up at least half of the length of the...
In my opinion learning in any field is connected to the "Four stages of Competence" and trading is no different. This post also answers why most traders lose in the stock market.
Following are the four stages which every trader has to pass before attaining success.
Unconscious Incompetence
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This stage belongs to the newbie...
Pattern: Bearish Reversal
1) There must be a prior uptrend.
2) Price opens above previous day close/high and makes a high higher than previous day.
3) The Red candle closes below previous day open/low
Trading this pattern
1) Look for this pattern after a big upmove.
2) Upon confirmation, open a short position on 3rd candle.
3) Place a stoploss above the high of...
What are derivatives?
Basic interpretation : something which is based on another source.
A derivative is a contract or product whose value derives from the value of the base asset. The base asset is called the underlying asset.
i.e., Sugar prices will rise if sugarcane prices increase due to low production. It means sugarcane is the underlying asset of sugar...
