Get started

Community ideas

EURO/USD (Neowave Analysis)FX:EURUSD Hi Everyone Its been a long time almost an year EUR/USD had been falling. We were falling in an structure of L series (mean long term wave ) and recently we have completed L5 a 0.98132. Now its time for an ABC correction structure which we represent with LC1, LC2. ( C stand for correction). Let see structure equation, 1) We are in (LC 1 >) in which we have completed M1 ( m stand for medium term waves) and progressing with M2 (LC 1>M2 ?) 2) Further if we brake down M series you will see s series( s stand for short term wave) (LC 1>M2 > SC 2?) 3 ) This mean after correction wave in wave M2, we will definitely see an 5 or 3 wave structure in s series as long as we are above invalidation levels. Note - This equation is just for your memory. Let me know if this is helpful or not. If you does not understand our coding structure plz check out below chart. Thank You
Editors' picks
Long
by Neowave-forecast
2
Why am I bullish on Marico. Analysis on Daily, Weekly & MonthlyPatterns play an important role in trading. Especially when the same patterns appear on the different time frames. In Marico we see the formation of triangle patterns on Daily, Weekly and Monthly time frames. Daily Chart - Ascending Triangle Pattern In two trading sessions the price had tested the upper and lower length of the triangle. So, from this we predict the price is ready for a move. Weekly / Monthly Chart - Symmetrical Triangle Pattern This triangle pattern has a success rate of more than 70%. And the price is near the upper length of the triangle on both time frames. If we see the broader picture of these 3 time frames the stock looks bullish as it tries to move upside. The price may be volatile on the daily time frame. The probability of the volatility is very high. The volatility on the daily time frame makes the price comfortable on the weekly and monthly time frames.
Editors' picks
NSE:MARICOLong
by ssvirdi
21
MAXHEALTH near ATH Breakout NSE:MAXHEALTH BSE:MAXHEALTH Time Frame – Weekly Observations :- * Trading in Right-Angled Ascending Broadening Wedge pattern * ATH Breakout above 458.05 * Symmetrical Triangle BO and small range (395-345) BO done last week * Good Consolidation & Range formation going on in 320 – 458.05 range Resistance – 555 / 665 / 765 / 870 Support – 395 – 345 zone & Daily 200 SMA DISCLAIMER : NCFM Certified Technical Analyst. I am not SEBI registered analyst. All posts are for educational purpose only. I am not responsible for your any loss or profit. Consult your adviser before taking any trade. I help people to learn technical analysis & charts reading.
Editors' picks
NSE:MAXHEALTHLong
by Chart_World
4
Why do I think the IT index is going to rally soon?Hi all, hope you guys are doing well. Over the last 2 months, we have seen a great rally in the majority of the indices, except one - The IT index. Read this post to find out why I think IT is going to pump soon! 1. The IT index has been strongly underperforming the benchmark as well as all other sectoral indices for the last few months. I have taken the June lows as a reference because the market started rallying from there onwards. Observe how the IT index is lagging far behind all other indices. 2. In the last few days, the IT index has been strongly improving, suggesting a mean reversion towards the benchmark index - Nifty. Notice the angle of the curve. On the other hand, all other indices seem to be more or less flat. If the market is able to consolidate the gains and maintain the bullish to sideways narrative, the IT index can really perform well in the coming weeks. 3. This is also in line with the structure. If you notice, the index seems to be forming the Wyckoff accumulation schematic in which the "Spring" seems to have been established on 15 July. Currently, the price appears to be bouncing off the range low and may head towards the range high. 4. The market structure has started to shift to the upside. As we can notice, after the formation of the low on 15 July, the price rallied higher creating a higher high. This caused a shift in the market structure. 5. If we get a move above the range high at 31k, it will confirm that the short-term structure has turned bullish and we can expect higher prices, possibly a move towards 34k. 6. All the IT stocks have been forming a similar structure. I am attaching a few charts for reference. 🔹 Wipro: 🔸 Infosys: 🔹 Mphasis: 🔸 Coforge: Thanks for reading. I hope you found this helpful! 😊 Disclaimer : This is NOT investment advice. This post is meant for learning purposes only. Invest your capital at your own risk. Happy learning. Cheers! Rajat Kumar Singh (@johntradingwick) Community Manager (India), TradingView
Editors' picks
NSE:CNXITLong
by johntradingwick
24
INDTERRAIN price action changing??NSE:INDTERRAIN BSE:INDTERRAIN Time Frame – Weekly Observations :- * Trading in Ascending broadening wedge pattern * Facing Resistance in 75-65 zone * Major BO above 75 * Trendline resistance break with good volume * Weekly 200 SMA break with good volume * Good volume activity seen * If weekly / monthly closed above 75 then Price action is changing Resistance – 100 / 125 / 155 / 185 / 220 / 253 Support – Weekly 200 SMA & 48 - 58 range DISCLAIMER : NCFM Certified Technical Analyst. I am not SEBI registered analyst. All posts are for educational purpose only. I am not responsible for your any loss or profit. Consult your adviser before taking any trade. I help people to learn technical analysis & charts reading.
Editors' picks
NSE:INDTERRAINLong
by Chart_World
4
Channel Bo in Exide Industries daily?Channel breakout in Exide Industries Stock has broken its previous major resistance with significant volume. Also, we can observe a Inverted Head and shoulder breakout in hourly time frame. For further strong momentum in the stock, price has to close above 174 in daily chart. Price between 165-170 is a good range to enter the trade. Stop loss can be placed at 149. This is just a view, not recommendation to trade. Do your own analysis before taking any trade. NSE:EXIDEIND
Editors' picks
NSE:EXIDEINDLong
by varun_devadiga
2
Gold Trade forecastForecast of Gold and Analysis for future target dates. Gold is Currently trading at 1712 levels on 1st Sept 2022 at 12am IST. What we have here is a typical formation of Elliot waves in which 5 waves are already completed and we are in process of formation of corrective ABC pattern in which wave B is likely appearing to be in completion stage. So, from here we are targeting the formation of Wave C and by analysis we will find the time and price level where the Wave C is likely to be completed. The Elliot wave started on 18th March 2022 with a Daily close at 2050.17 The 5th wave completed on 21st July 2022 with a Bullish open at 1696.61 1) When we plot the Fib based trend line from 18th Mar to 21st July, a correction time range (0.382 to 0.618) is falling in the range of 12 Sept 2022 to 13 Oct 2022. Red lines plotted on the chart. 2) When we make alternate Fib time projection (ATP) from corrective pattern of Wave 5 to Wave A, we have 3 different date projections. Purple lines plotted on the chart a) 14th Sept 2022 (0.618) b) 22nd Sept 2022 (1.00) c) 6th Oct 2022 (1.618) The Alternate time projections (ATP) have narrowed down the dates to the range of 14th Sept to 6th Oct and eliminated 2 days in Sept (12th and 13th Sept) and 7 days of Oct (7th to 13th Oct) of Fib retracement time zone calculated in 1) 3) A Low to High cycle were formed till now. a) Wave 1 to Wave 2 (23 bars)(33 days) - Corrective waves b) Wave 3 to Wave 4 (20 bars)(28 days) - Corrective waves c) Wave 5 to Wave A (16 bars)(22 days) - Motive waves There is a high probability that Wave B to Wave C will form between 22 days to 33 days, i.e., 22nd Sept to 3rd Oct. This calculation has further narrowed down our target days which was calculated earlier in ATP. All above calculations are done to calculate the Time retracement. A range of date in future time where the price will retrace. 4) The following calculation is based on Fib Price retracement levels. When we select the entire Trend from Wave 0 to Wave 5, we get the Internal retracement Fib levels. When we plot Alternate price projections (APP), similar to ATP in which we measure Wave A for Fib Levels and Plot those Fib levels from Wave B. When we plot some external Fib retracement levels from Wave 5 to Wave A. We get the following checklist. Sr No. Internal retracement Alternate price projections External Fib retracement levels a) (0.382) 1831.67 (1.00) 1818.82 (1.272) 1827.06 b) (0.5) 1873.39 (1.618) 1884.38 (1.618) 1858.98 We have 2 different price zones where there is a high probability of Wave C completion. 1) 1827.06 to 1831.67 (4.61 pips) 2) 1858.98 to 1873.39 (14.41 pips) Lets see how it transpires in future.
Editors' picks
TVC:GOLD
by rajnish_jana
10
EMOTIONS | THE SEE-SAW of GREED & FEARAs your time spent with the market increases, you start to discover things about the nature of the trading game. Why they say its simple not easy. Why do 95% of traders end up losing money? Why is consistency so difficult to achieve? Can I even make consistent profits? Only after going through huge drawdowns, it gets embedded within your psyche. You realize that only you are to blame. Not the indicators, not the market, but your own... {{ GREED }} Greed can have undesired consequences on your trading if you let it take hold of you. These points I am going to mention are from personal experience: 1. Overtrading: I suffered from this for more than 3 months. Majority of my days kept ending in profits. I was confident in my trading. But the CHARGES kept adding up. At the end of the month, my net PL was deep red. Happens when "revenge" trading, trying to "win back" your losses. 2. Taking marginal setups: Taking setups that are not there in the first place. Happens when market is consolidating. You are faced with "boredom". There isn't a specific direction or trend. But your itchy hands start to take any setup there is. 3. Expecting more as "compensation": Again happens after string of losses. Now you feel the market "owes" you a winner. So, you keep holding to your trade beyond your exit plan. It suddenly drops. You end up booking less than 1:1. You end up frustrated. 4. Overconfidence: You are the "MIdas Touch" trader. Whatever you lay your hands on, it turns to gold. You feel nothing can go wrong now. Euphoria. You increase your lot size. You don't preset your SL. Happens after when you're on a win streak. The point when you need to be most cautious, you are most careless. ____________________________________________________________________ {{ FEAR }} Fear is vital for human survival, & for survival in the markets. One must not eliminate fear to succeed. He must rather acknowledge the fear in his mind, & proceed to take control of it. Of course, everyone here knows this is easier said than done. But fear does make you do certain things that are detrimental to your trading success. 1. Under trading/ Hesitation: You pick & choose your trades. You only take the trade that "feels" right to you. If there are 3 trades you identified based on your setups, you take only 1, making sure everything is "perfect". What happens? The trade you took turns a loser, & the other two - winners. Happens on losing streaks. You feel the market is "against" you. So you trade less so as not to "anger" the market. 2. Missing Setups : You refrain from trading altogether. Happens when your losses have piled up. Although a break from trading here & there is necessary, not trading is not the solution. 3. Leaving money on the table: "Ill take what I can get" mindset. Happens when you're impatient. You so desperately want to end the day with profits. Maybe you want to post the screenshot on instagram. But the low RR that you're booking will NOT be able to cover your loss days when they come. 4. Self-doubt. You are afraid of the market. You feel like a bad omen. A "Panauti" in Hindi. You convince yourself that any trade you take, will be a loser. A string of losses can create self-doubt that is very difficult to eradicate. Or maybe you have something going on in your personal life that is affecting your trading & causing self-doubt. {{ PLANFULNESS }} I came across the term "planfulness" in the book "Psychology Of Trading by Dr. Brett Steenbarger". He asserts this to be the solution to deal with trading emotions. Being planful & rule-governed. I am trying to incorporate pure planfulness in my trading. This is what planfulness is to me: 1. Trading ONLY your setups: Not something that "looks" like or "feels" like your setup. Even if it is 99% similar to your tried & tested setup, you must NOT take it. No making up new setups on the spot. Only back-tested ones. If there are NO trades available for your setup, sit & WAIT. 2. Trusting the setup's expectancy: The term "expectancy" is elaborated in the book 'The universal principles of successful trading -by Brent Penfold'. In brief, as long as your setup's expectancy is positive, that setup is money-making. The point here is not to get affected by the outcome of a single trade, but judge your results based on a sample size of trades. You may experience a string of losses, but as long as your expectancy is positive, you will be in net profit over a sample size of trades. 3. Taking ALL instances of the setup: Straight from Mark Douglas' "Trading in the Zone". if there is a trade based on your setup, you take it. Period. Only then can you judge the strength or weakness of your setup, & change it if need be. 4. Proper exits & SLs. I am sure there are a no. of trades where you exited, only to see the trade shoot up far beyond your take profit level. Again planfulness dictates that you stick to your RR no matter what. That is the only way to move forward. You cannot predict whether your current trade will shoot to 1:20 RR or not. But if you wait, you will end up booking less than 1:1. 5. Trading in the Zone: "The best loser is the long-term winner". Acclimatize yourself with loss. As long as you're not ready to accept loss, you will always be out of the zone. I am trying to do this myself. Hopefully we all succeed & get in the Zone together. Thank you:)
Editors' picks
NSE:AXISBANK
by Divergent_trader
19
TATA CONSUMER PRODUCT Wait And Watch ?? Look for Low risk, High reward, and High Probability setups- Things to Remember while Trading with the Trend 1. Know what the trend is. 2. The best trades are made in the direction of the trend. 3. Assume that the main trendline or moving average will hold. 4. The longer the moving average is, the better it defines the trend. 5. Wait for the pullback. 6. Don’t chase the market. 7. Don’t fight the market. 8. Even in the strongest trends there should be some retracement. 9. The closer the market is to the trendline, the better the risk/reward ratio is. 10. Use ADX to determine the strength of the trend. 11. Higher the level of ADX , the stronger the trend, below 20 consider the market to be choppy 12. Hold trades longer in a strong trend. 13. Wait for confirmation of a trendline breaking before reversing position. 14. Know where the Support levels are. 15. Place stops outside the Support levels. Thank You..
Editors' picks
NSE:TATACONSUMLong
by Rvkachhadiya
22