Community ideas
Using the Moving Averages and RSI to optimize buying processIn this chart I have explained my rationale using Moving averages, relative strength and RSI to initiate a buy on this scrip.
I always use a weekly chart to check for overall trend and analysis and based on it will initiate a buy on a Daily chart.
Explanations are given on the chart. The idea is get the maximum conditions in our favour for a profitable trade. Hope it will be helpful.
Another important thing is to always define a stop loss if the trade does not go according to plan.
Nifty - A holistic view for the coming weeksHi all, it's been a long time since I posted an analysis on Nifty. If you haven't checked out my last idea, be sure to check it out to get a better understanding of how the price moved in the last one month.
Let's see how the price is moving now and what all we should look at!
- The price gave a clear down move from 16800 to 15200 level, without any significant pullbacks. This indicates a strong selling pressure and a clear sell side imbalance.
- The HTF structure is still bearish as evident from the market structure. The price is forming lower highs and lower lows.
- There are a lot of supply zones, swing levels, and unfilled gaps on the upside that should act as resistance.
- If we see the swing from 16800-15200, the price is trading at a discount. The HTF sellers will try to sell any rally in the Premium zone.
- The HTF remains bearish until and unless the prices closes and sustains above 16800.
- On LTF, the price has tested the supply at 15600-15700 and it seems like the supply has been absorbed because the zone seems to be acting as a new support.
- I am also posting the distribution and accumulation schematics on the LTF just for the Wyckoff traders.
- All the important LTF levels have been marked on the charts along with the psychological level of 16k.
- There is an old LTF supply area at 15900.
- If the price manages to push above, expect it to test 16200 which is also a strong supply area.
- How the price reacts in the vicinity of 16k will decide the future course of Nifty.
Thanks for reading! Hope this was 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
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LTI - Elliot wave structure of LARSEN & TOUBRO INFOTECHLTI is showing wave structure like, either larger wave A-B-C is done and now deeper retracement is possible as a wave X, or after wave 1-2-3 is done and now possibly in wave 4, where wave A-B is done and now wave C is unfolding.
This stock can see good pullback towards north direction nearly above 4600 where wave C would be equal to wave A, on the way down 4000 and 3897 would be a crucial support levels to watch out for.
All other trend indicators are also allowing to go long with mentioned levels on chart, RK's mass psychological cloud has confirmed buy signal on hourly chart along with support of RK's stop line which is good enough to rely on as always.
Overall wave structure on daily chart
price entered in RK's mass psychological cloud, along with RK's stop line support
EMA's positive golden cross done on hourly chart
Price closed above previous closing based highs on hourly chart
macd positive crossover on hourly chart
macd already in positive crossover and now uptick on daily chart
RSI uptick and now its above 60 levels on hourly chart
RK's Momentum is also positive crossed on hourly chart
Most investors treat trading as a hobby because they have a full-time job doing something else.
However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...!
Disclaimer.
I am not sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.
Circadian Rhythm For TradingHello traders 👋 how are you?
As we know it is not just chart analysis or strategies that bring success in trading but there are other physical-psychological 🦾 factors also that silently act in the background and can enhance trading efficiency.
In this post I have tried to throw some light on the daily schedules ⏰ that can help traders to improve their trading performance ✈
✅ After-Market Slow Down 😌
>>Traders burn their veins watching every single candle and every tick on the chart. This leads to eye strain as well as brain fatigue.
>>A two-hour rest after the market close is essential to rejuvenate yourself for family keeping.
✅ Evening Preparation 👀
>>Its difficult to search and plan your trades during live market. Therefore you need an hour or so to look into your charts, before supper.
>>You may take help of screeners or shuffle through every chart on your watchlist to plan your trades.
✅ Deep Slumber 😴
>>Sleeping improves memory, boosts immune system, strengthens heart and increase productivity.
>>For having a sound sleep of 7 hours or so, stay away for your mobile and laptop screens after 9 O'clock. Spend quality time with your family and kids.
✅ Overnight Adaptations 🙃
>>Wake up early and move out in the fresh air if possible.
>>Do some jogging, stretching, exercising.
>>After morning activities, watch out for any change in sentiment that happened overnight due to western markets and see if you need to modify your plans.
✅ Meditation 👼
>>Now that everything is almost done and there are still 15minutes or so in the market open, just sit in a relaxed physical state and concentrate on your breathing.
>>Meditating this way for a few minutes may help for more effective execution of your plans.
✅ Plan Execution 🤺
>>The market opens and its now time to put your plan into practice.
>>If your analysis was correct, there should not be any hesitation in executing your trades.
>>Always mind trade management and risk management.
Thanks for reading. Hope this was helpful!!
Do like and comment for more such posts in the coming days 🙂
Bravetotrade
Elecon Engineering is looking strong during this correctionAfter breakout above 210, the stock is in a consolidation zone, with price retracement along the 21 day EMA. Expect price to move up after crossing the 270 level.
Stock is in an uptrend and above key moving averages, with a strong relative strength and volume activity.
Always keep your stop-loss defined before you initiate a trade.
Note: This is a personal analysis of a scrip, not a buy/sell recommendation
NIFTY INTRADAY_ PROJECTION & CALCULATIONSA lot of chaos, so now where, nifty is heading towards. I have created this thread for calculation #nifty short term view with proper SL & targets. Hope you guys do like it!
calculating the move which started from 03-06-2022
On 3 min TF, W-1 got completed at around 16710, W-2 got completed at around 16763, W-3 got completed 16350 (NOTE: wave -3 always have gaps which some time can't get filled), W-4 got completed at16515 & W-5 at 16250. SUB cycle wave-1 got completed here.
For sub cycle wave 2, which got completed at 16500 level. (Wave can go upto 99% of wave -1, actually everything depends on supply, here we are getting at mentioned level)
sub-cycle 1 & 2 got completed, check out here.
waves personality always remains same in each & every conditions, Here I have shared sub-wave cycle for wave 3 & wave-4) (Do check here also the condition of wave-3/gaps which I've mentioned above.
Here, as per the numbering wave -3 is still in progress and we could supply at 15900 levels, where one could exit if someone stuck at higher levels.
One could go short from here having SL above 15993 for the targets min. 15200, one could trail SL one nifty reaches to this level.
check out here.
For Impulsive wave Elloitt Wave conditions:
1- Wait for the formation of wave -1
2- Wave 2 should not retrace 100% of wave -1
3- Wave 3 sometime have gaps which sometimes can't get filled & wave 3 should go minimum 161 % of wave 1 & 2.
4- wave 4 can't end in the price territory of wave 2
5- wave 5 should go min 38% of wave 1,3 & 4
Please do add the skipped part!
All the best !
What is Fibonacci extension?Hey everyone! 👋
Last time we explained some of the basics to know when it comes to understanding the Fibonacci retracement tool. If you haven’t read that post, be sure to check it out here:
In this post, we are going to look at the Fibonacci extension along with a few exhibits that may help you solidify your understanding of this unique trading tool.
Please remember this is an educational post to help everyone better understand investing and trading tools. In no way are we trying to promote a particular style of trading!
Table of Contents:
1. What are Fibonacci extension levels?
2. What is the significance of extension levels?
3. How to find extension levels?
4. Difference between the Fibonacci retracement and Fibonacci extension
Without further ado, let’s jump in!
What are Fibonacci extension levels?
A Fibonacci extension is a tool that can be used to find price targets or estimate how far a price may move after the retracement/pullback is over.
Extension levels are also possible areas of interest where the price may stall or reverse.
It can be used to find projected areas of support or resistance when the price is moving into an area where other methods of finding support or resistance are not applicable or evident.
Fibonacci extension levels can be calculated to give the trader ideas on profit targets.
Significance of Fibonacci extension levels
Different traders use this tool differently but the most common usage is as follows:
Fibonacci extensions can be used for any timeframe and in any market- stocks, commodities, cryptocurrencies, etc.
Fibonacci extension levels indicate a price area that will be significant for the stock after the pullback/correction is over.
Extension levels can be drawn on different price waves over time. When levels from these different waves converge at one price, that could be a very important area.
For example , A stock may be in an uptrend. After a move up, it retraces to the 61.8% level. Then, it starts to go up again. In this case, the extension tool can be used to find the optimal targets after the price moves above the swing high level (100% level).
How to find Fibonacci extension levels?
In order to find the Fibonacci extension levels, you have to find the recent significant swing high and swing low and then plot the Fibonacci extension accordingly.
For uptrend: First, select the swing low and then the swing high. Then go to the Fibonacci settings and select reverse.
For downtrend: First, select the swing high and then the swing low. Then go to the Fibonacci settings and select reverse.
Exhibit: Fibonacci extension in an uptrend
Exhibit: Fibonacci extension in a downtrend
Difference Between Fibonacci Retracements and Fibonacci Extensions
Fibonacci retracements provide levels for a pullback whereas Fibonacci extensions provide levels in the direction of the existing trend.
For instance, a stock goes from 50 to 100 and then falls back to 75. The move from 100 to 75 is a retracement. If the price starts rallying again and goes to 150, that is an extension because the price moved past the previous swing high which is 100 in this case.
Conclusion:
Adding Fibonacci analysis with other common methods of technical analysis can be useful for adding confluence to a trade.
Thanks for reading! Hope this was helpful!
See you all next week. 🙂
– Team TradingView
Feel free to check us out on Twitter and Instagram for more awesome content! 💘
USDJPY: Bullish TriangleUsually 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 the level of wave-d. The minimum target of the pattern is just a poke above the level of wave-b and just above the level of wave-3 of the impulsive count. There is also a guideline to predict the target of this pattern which is known as triangular thrust. The triangular thrust is the measurement of the distance from the level of wave-a to the level of wave-b . This measured length should be kept at the point of completion of wave-e (conservative approach) or to the breakout level of wave-d to get the target of this pattern (aggressive approach)
ABCAPITAL Elliott Wave StudyTF - 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:
1. AB CAPITAL has given five touches to this level.
2. AB CAPITAL had taken support and broken up the trendline.
3. AB CAPITAL can retraced 61.8 % at 76.45 , which is demand zone.
If AB CAPITAL breaks down to 90 , then it will come to take support near 78.05.
TF: Daily -
AB CAPITAL has completed corrective waves A & B . Wave C of wave 4 is about to completed.
We are getting similar confirmation that if AB capital breaks down to 90.05 , we can expect a support level of 78.05 .
As per Elliott wave, wave 4 can complete near the previous 4th wave of lower degree.
Wave 4 of lower degree is a 78.50 . We got the confluence zone as 78.05 . After taking support level, AB CAPITAL will start its upward march.
I will update more information soon.
Thank you!
@Money_Dictators
SILVERSilver 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 structure we are possibly in wave Z of Z, which can lead to retest levels of $ 20.462 and if sustain below this then $ 19.80, On upper side RK's stop line may work as a major hurdle which is pegged at $ 22.550 to watch out for.
Over all wave structure could be like this one
Price had broken Support Trendline along with 20DMA level on closing basis
Price getting Declined by RK's Cloud and stop line on daily chart
RK's Momentum turned Negative on daily chart
Macd in weekly already in Negative mode
Macd in daily down tick converging to Negative mode
RSI in daily down tick and near 40
Most investors treat trading as a hobby because they have a full-time job doing something else.
However, If you treat trading like a business, it will pay you like a business.
If you treat like a hobby, hobbies don't pay, they cost you...!
Disclaimer.
I am not sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.
A beginner's guide to trading - Chapter 4This 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 trade on active stocks and another is selecting a stock which has formed trade set up as per your strategy. Ok, now how to select stocks? For intraday, the stock you trade should be an active stock. If the price is above 400 rs means, generally the movement will be good. The price will move with momentum & show trend strength.
The stocks you select should be
-- Active
-- Above 400 Rs
-- No spikes in movement (very long upper & lower wicks).
Let us take an example. Beml is in my active stock list.
In the above chart on June 9th price was narrowing within a narrow range forming a symmetrical triangle. It means we can expect break out any side. I selected this stock to trade on June 10th. Next step is to prepare a trading plan. Bearish below 1330, I can go short if the price showed bearish strength with 10 points as stop. Bullish above 1350, I can go long if the price showed bullish strength with points as stop.
When you have a list of active stocks, you can filter them by pattern formation like the above example and trade.
Below is another example.
In the above example, I have selected the stock because of the consolidation. I have expected consolidation break out once the price moves out of the zone. The levels are marked in the chart.
Another method to select stocks is based on the strategy you use.
I have posted the strategy used already. Please refer the link below if you have not read it.
This trade set up forms in live market. So you have to wait for 15 minutes to know whether your trade set up has formed. These are just examples. Your strategy and trade set ups can have unique features depending on your trading style. It does not matter whether it is intraday or short term trading, always trade on stocks which is active and which forms the trade set up as per the strategy you use.
Nifty: A Study through Time CyclesNifty 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
-------------------------------------
It can be seen on the chart that Nifty made a high in Oct21 and faced resistance, followed by a sharp reaction of 11%. It rallied till mid of Jan22 and again faced a sharp larger reaction of 14%. It then rallied 15% throughout Mar22, faced a trendline resistance and reacted 13%
If we draw important support and resistance lines through this price action we get three major levels
-Dynamic resistance level through the trendline
-16780 to 16850 multiple support zone which is now a potential resistance zone
-15670 to 15750 support zone which also coincides with a prior area of consolidation
Time Cycles
----------------
If we look at peaks, there is a 62bar high cycle followed by 51 bar cycle.
In this sequence, the next cycle could have been a 40bars for the market to test trendline resistance. But that is not the case and here the market is at 16780-16850 zone after 40 bar cycle.
This clearly reflects some weakness in Nifty as it was able to cover roughly half the distance on the upside compared to January and March rallies, in almost same number of days. It’s clear that the prior support zone is acting as resistance.
At the valleys, there are 53 and 43bar cycles. The next cycle could be a 33bar cycle where Nifty can either breaks the recent support 15670-17750 or retests it. The 33bar cycle coincides with June expiry so there is need to take a cautious approach on the upside until 16850 resistance is taken out.
I hope this idea will help you to understand the markets another non conventional perspective.
Keep liking and sharing your thoughts.
Disclaimer: This post is for educational purpose only and not a trading/investment advice.
CANDLE PATTERN 2 - BEARISH ENGULFINGPattern 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 behind it :
1)The Bulls lose momentum & the Bears take charge and managed to close below the Green candle.
2)It implies the bears have fully override the bulls.
How to trade it ?
1)Look for the Bearish Engulfing at the Top of the Uptrend.
2)Upon confirmation, open a Short position in the 3rd Candle.
3)Place a Stoploss above the high of the Red candle.
How to create high quality trade ideas?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, fundamental analysis, technical analysis, or some combination therein - into one cohesive unit. Getting in the habit of incorporating all of these factors into your thought process can lead to much higher quality setups, whether or not you choose to share them with the community.
Let’s jump in!
There are a couple of questions that you should ask yourself when trying to come up with high-quality ideas, and they boil down to the familiar five:
Who, What, Where, When, and Why.
Let's start with Who.
WHO:
Who is this trade idea meant for? When posting a trade idea, don’t assume that the idea is one-size-fits-all. The most obvious way TradingView helps in this regard is by categorizing posts by asset class, so FX traders are looking mostly at FX ideas, and crypto investors aren’t constantly exposed to commodity futures spreads. However, there are more subtle ways this happens as well. Different traders and investors often have different styles of trading, and so even within a single asset class, a long-term investment idea may not be applicable to a short-term trader. When creating a trade idea, it may make sense to identify to readers (and yourself) who this idea is for, and within what strategy it might best fit.
WHAT:
Most ideas do a great job at answering this question! It’s very simple: at its core, what does this idea want to do? Whether that idea boils down to shorting the stock market or building a long/short cryptocurrency spread, make sure that your idea clearly identifies what the core thrust of the trade is.
WHY:
This is the crux of any good trade idea. Why should someone commit capital and risk money according to your vision? It is common for traders, especially new traders, to think that answering this question comes down to building up a confluence of price patterns, indicators, and chart drawings until they line up and it is all systems go. In some cases, this serves as a reasonable answer to the “why” question - especially when assets have strong momentum.
However, oftentimes this approach may not go deep enough. What if the long technical setup on your chart is in a stock where the company’s business outlook is worsening? What if the descending triangle you’re looking at trading occurs within a larger bull market? This is where incorporating multiple disciplines, whether it’s fundamental analysis or macroeconomic understanding, can improve the quality of your trade ideas. Understanding some of the context surrounding the asset you’re trading can serve to layer probability in your favor.
Here’s the bottom line: the current price in any market is a reflection of the consensus view of the future. It’s important to illustrate *why* that pricing might be materially incorrect.
WHERE / WHEN:
It’s important to illustrate why *right now* is the right time to act on the idea, and this is where technicals can come in very handy. Broadly speaking, fundamental data on most assets only comes out once every couple of weeks, if that. It’s even longer between fundamental data releases for stocks. Because of this, utilizing price patterns, indicators, candlestick charting, and other technical analysis can be extremely helpful in defining risk, pinpointing entries, and trading more efficiently overall.
This is also where clean charting comes in. It’s important to identify how trader positioning, supply and demand zones, and other factors (that technicals help illustrate) affect the timing and risk of the idea. In addition, when publishing an idea on TradingView, the chart is one of the most visible and prevalent ways of communicating this information. Making these items clearly defined can significantly improve the quality of a trading idea and ensure clear communication of the important information.
So there you have it - the key questions that are at the core of any good trading idea! We look forward to seeing how this framework is incorporated into future posts.
Thanks for reading! Hope this was helpful!
See you all next week. 🙂
– Team TradingView
Feel free to check us out on Twitter and Instagram for more awesome content! 💘
Action & Reaction move Analysis in simple way.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 catch their breath, the bears take over and send the price lower. The lower is counter to the over uptrend and what we call a Reactionary move . Typically, the reactionary move can be weak(1/3) or deeper(2/3). Sometimes a reactionary move can sideway and, some people call it a pullback also which is part of a larger trend. when it could end up and new actionary move in the opposite direction. Trade and Trend is your friend, so we can say here take a position in direction of actionary move.
1 to 2 is an actionary move
2 to 3 is the reaction of 1 actionary move.
3 to 4 is the subsequent actionary move.
4 to 5 is a new reaction.
5 to 6 is unclear which has not still made a lower low. It could be bottoming out. No one really knows what will happen next. In this case, we will think about both sides. The first side, seems to be a new actionary move up and if 5 to 6 actionary move is exists, the price remains actionary for looking lower low.
What will be your trade action?
1. Up (long)
2. Down (short)
Type in the comment section.
TimeCycle Analysis is looking for the up move on weekly timeframe:
What after a heavy Loss ?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.
_________________________________
Different concussions made by different traders
_________________________________
1) They loss because of manipulator , operator , promoter , fraudsters etc ...
This type of thinking is obvious because there are manipulators , operators , insiders who are always at advantageous position than you ... It is just like that your army trying to fight with a king where his army is equipped with better weapons.
Your chances of winning is less , obviously . Am I right or wrong.?
See why I took this example because in trading profession one's loss is another's profit. It is not very different with ancient war where one king use to fight with other risking the life of his soldiers for looting wealth of opponent.
There are professionals, Institutions, prop desks, Fiis ,Diis , mutual funds , different portfolio managers serving their clients. Many players playing at the same time.
Now main point is do we not take trades as our chances are less ?
See yes big players make money but you can too make money you need to understand your strength.
Now at this point you will surprise what is retailer's strength , in front of big players . Let me list it out.
1) Less capital . You do not need very much liquidity to trade efficiently. Big player cannot trade scrip which do not have very much liquid.
2) Smooth Entry and Exit : If I say you have to enter or exit 10Lac shares of Reliance today can you execute it at a small price range no , but with a small capital it is possible.
3) We can stay away from market for long time if we do not see a clear trend. But what about big players he have to trade every market condition and they trade and bear the existence cost their.
4) You can change your trading style much to get better results but they can't do much changes .
This is just like small armies comparing with big armies , small armies have better less conflict within ,Management have less difficulties in handling , Less Budget. etc...
See you can blame big players for your loss but introspect within is this the only reason. ?
_____________________________________
2) They lost because they do not have big capital :
I remember a quote .
"A trader is never under capitalised his mind is underdeveloped "
First learn to grow small account. There is no guarantee that if you have a big account you will perform good.
____________________________________
3) There is problem with their strategy . (search for holy grail)
See if you think a strategy formed with mathematical calculations can alone make you rich . I do not think this business is for you ... it is harsh but true.
"" It is just like the search of god outside but it is siting inside ""
Work with your trading mindset will give more results than working with strategies.
___________________________________
4) Fear for losing money again
This fear is there in every trader whether you lost money made money or just starting , but what happens when you had a big loss experience this fear starts growing bigger and bigger , your decision making get affected with this fear. You get very fearful with open position when it shown some profit you just try to book ass soon as possible. You start booking small and lose big, with this derailed trading style no progress is expected.
___________________________________
5) You think you should join expert traders.
Now at this point you are thinking constructively ,but this gives opportunity for fake trainers , tip providers , brokers running their own agenda. For them to convince you for their services is very easy. They clearly know how to convince. I do not say there are only fraudsters their are genuine guys too but their percentage and willingness to help you is very very less.
"It is just like in search of peace , satisfaction, god people end up in the trap of fake babas , gurus so called god messengers."
I will further explore more about the possible psychological situations after a big loss and about Loss recovery strategies in my next post.
Stay tinned .....