Bajaj Finserv: Elliott Wave Analysis & TipsBajaj Finserv has started it's final bearish, where we have seen a speculative boom downside. After breaking 50 & 200 EMAs , it started falling for wave Z .
Traders can expect the following targets: 14631 - 14449 - 14176 . The Control line will work as a hurdle for intraday traders.
Bajaj Finserv has formed in the descending channel for more than 27 weeks . It has broken the control line's channel also. That indicates bulls are not ready to expect a falling knife.
Measurement of wave ((4)):
Wave ((4)) can accomplish 38.2% of wave ((3)) at 14000 .
Wave ((4)) can complete at the lower band of the parallel channel because the price has created a throw-out action.
Sometimes, prices do not break the low of wave ((Y)) due to less momentum and supply deficiency. And it causes orthodox bottoms.
After the completion of wave (z) of wave (4), the price will march for motive wave (5).If the price sustains above wave (X) at 17480 , Bajaj Finserv will move on for an all-time high.
Note: ending point of the corrective structure is the starting point of an impulsive phase.
I will update further information soon.
Community ideas
BANKNIFTY some retracement expected !!As per the pattern BNF is currently in complex correction. Here on 1 H TF, it looks like continuation leg (X) (abc) of complex WXY(X)Z has been completed and now its going for retracement. (expected levels= 37489).
It is recommended to trade only in the direction of the trend. Here, in this case I'll wait for the retracement to over.
GPTINFRA - Cup & Handle pattern formNSE:GPTINFRA BSE:GPTINFRA
Time Frame – Weekly
Technical Observations –
1) Cup & Handle pattern form
2) Breakout above 105-115 zone
3) High volume seen
Resistance – 147.90 / 187.35 / 220.80 / 248
Support – 67.50 & Weekly 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.
Which type you belong.?The best way to find the type of trader you are is to see the capital curve,(or equity curve) over time into your trading account. Over time it may increase or decrease depending upon your performance but the way it is increasing and decreasing will give you an idea of where you are going, towards a professional trading or still in the 95% of crowd, who overall lose money.
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Type - 1
Big Loss
Small Profit
You will not believe me I observed ledgers of many traders where I found that this category has the majority. Some lose there entire capital in just 20 to 30 trades their losing trades are so capital disruptive that they soon get out of the game.
The reason are many but one common reason I found in such traders that , they do not accept that they are on a path of failure. They always get crazy about their accuracy ,(as if you book small profit and big loss than your accuracy will be excellent) . One more problem is their search for a HOLY GRAIL.
My advice: May be this game is not for you. Try something else than trading, (Bitter advice but what can I do the reality is that this game is very hard)
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Type - 2
Big Loss
Big Profit
Now this category is of those traders who enjoys this game, their main reward is not monetary reward the innate thrill of this game, gives them so much pleasure that they can resist themselves.
Reasons why they tend to behave like that are many but I think, they play the main role for prices to rally fast they make market uncertain and high volatile.
Ultimately they lose money but they are not concerned.
My advice: May be you , do not need any advice , You need Introspection
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Type – 3
Small Loss
Small Profit
This type is of that trader who had a bad experience in the market and now they want to improve their trading they read books follow gurus . They always are in a search for holy grail . Though they ultimately lose money but I like this type of trader because they at least accept loses. They at least cut down the main hurdle. They survive long.
Advice: You accept small losses but why exiting early manage your emotions follow plane believe in plane, that’s it. Just allow trade to run in profit.
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Type – 4
Small Loss
Big Profit
This type of traders are the pro ones their entry is difficult but exit is marvelous , rest of the traders shuffle a lot while exiting from a trade but this trader they are genius in it. They make plane, execute them, flexible with plane, accept mistakes … etc
Advice: Sometime you may feel boring as the trader life is not a social life , after seeing all whipsaws in your trading journey you may feel tired but always remember there is yet many milestone to achieve, this is just a beginning.
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The trading is a negative sum game , here one's profit is a loss of other. This is like battle where traders fight with their conflicting opinions at the same time simultaneously.
So keep your fighting spirit up .
'Verse' of 'Reverse' Candlestick Pattern-> Definition of Reversal patterns :-
Reversal patterns mean the formation of candlesticks which indicate the end of the existing trend (uptrend or downtrend). When such formation appears in a downtrend, it indicates a bullish reversal or end of selling spree and onset of buying spell. Conversely, when a trend reversal pattern forms in an uptrend, it warns traders of a possible end to bullish run and onset of a slump.
Candlestick patterns are visual patterns, helping traders to visualize when market sentiment is shifting, which is why many traders prefer candlestick charts over other trading tools. However, any trend reversal indication must conform with other popular technical trading tools.
-> Engulfing Patterns :-
An engulfing pattern is a two-candle formation that signals trend reversal, and hence, there are bullish engulfing and bearish engulfing.
The bearish engulfing happens in the uptrend. The first candle is a white/green candle that forms in the uptrend. The second candle opens higher than the previous session and then closes below the previous. It indicates that the bullish force made a final thrust before bearish forces took over.
The opposite of bearish engulfing is bullish engulfing, and it appears at the bottom of a downtrend.
->Doji :-
Doji is a unique formation – a candle with no real-body but with shadows. Doji can take many forms like Doji Star, Dragonfly Doji, Gravestone Doji, Long-legged Doji, and more.
It is often associated with market indecision before a trend reversal. Apart from Doji star, Dragonfly Doji and Gravestone Doji also indicate a trend reversal; but to base your trading decisions on them, those must concur with other popular trading tools like moving average, RSI, or moving oscillator.
Doji formations often have no real-body, means that the opening and closing price is almost the same, or the market has reached an equilibrium where neither the buying not the selling strengths are strong enough to give it a direction.
-> Abandoned Baby :-
Apparently, an abandoned baby is a more decisive trend reversal pattern than Doji. It is a rare formation, but when it appears, it is a strong enough indication for traders to alter their position accordingly.
Since it is a trend reversal pattern, an abandoned baby can appear in both uptrend or downtrend. An abandoned baby is a Doji star that appears between two candles – the first one appearing in the direction of the trend and the second confirmation candle appearing in the reversed trend, either bullish or bearish. The shadow of the first candle mustn’t overlap the second candle. The star appears above or below the trend, looking abandoned, hence the moniker.
-> Hammer Pattern :-
Hammer is a single candle pattern that appears in a downtrend implying a trend reversal to bullish. It usually has a small real-body and a long downward shadow. It indicates that the market fished for the bottom but eventually buying forces were strong to push the market up – the result is a bullish or green candle comprising a short real-body. The candle appearing next to the hammer must confirm the trend reversal to form a trading strategy. It must close above the last candle formed before the hammer.
The opposite formation of a hammer, an inverted hammer which appears in an uptrend, is also a trend reversal pattern. In this case, the color of the hammer doesn’t matter, but the upper shadow is twice the size of its real body. An inverted hammer requires stronger confirmation candles to ascertain trend reversal.
Another similar formation that appears in the candlestick chart is called a hanging man. It is a hammer that appears in uptrend. When the hanging man appears after a rally, it indicates a trend reversal. It needs further confirmation from the following candles appearing in the trendline. If those appearing in a downtrend, the hanging man confirms a downward trend reversal.
-> Piercing Line :-
A piercing line is a two-candle formation – a bearish long-bodied candle and another bullish candle which opens at a gap and closes at the midway of the bearish candle. Both candles have robust long bodies. It shows that the market started in bearish impulse, but eventually, buyers gained momentum to pull the market up and reserve their position.
-> Harami Pattern :-
Harami patterns are common and can be both bullish harami and bearish harami. In Japanese, the word translates to pregnant. It is a two-candle formation where the second candle is a small-bodied candle that opens and closes within the body of the first candle, representing a pregnant form. In the case of Harami Cross, the second candle is a Doji star.
A Harami is a reversal pattern, but it isn’t as strong as the hammer and needs confirmation from other technical trading tools like RSI, MACD, and the like.
My OBSERVATION :- These reversal patterns works very well when used with RSI, In case of indices, when RSI is above 65 or below 35 any such pattern visible indicates reversal and In case of stocks, when RSI is above 70 or below 40 any such pattern visible indicates reversal.
A beginner's guide to trading - Chapter 1Candlesticks? Oh come on, even babies know about it. What is new in it to learn? This is what everybody thinks when they hear about the term “candlesticks” in trading. Let me ask you one question. If you know everything about it, then why you are still making losses? Sounds logical, right? So everybody is a beginner here. Join me with open mind and you will learn new things in this series.
Bull candle – Close is above open with strong body. It shows bullish strength. It is also known as momentum candle if it is big. And it has very small upper, lower wicks or no wicks.
A candle plays the role according to where it is forming, what happened before the candle and what happened after that.
Example 1
In the chart below, after downtrend, price consolidated and then it gave upside breakout. So here it is acting as momentum candle.
Example 2
In the chart below, price is in the uptrend, then it consolidated and then it continued upside movement.
Example 3
In the chart below, in the uptrend, the price gave a final strong bull candle before it started to fall. In this scenario, bulls are getting exhausted after the bull candle formation and bears have started to gain strength.
One strong bull candle has played different roles like break out candle, momentum continuation candle and exhaustion candle. It is giving the clue about the trend when you combine the knowledge about where is it forming, why it is forming and what strength it has.
So observe, analyse, understand and trade. All the best...
What is Bullish divergence?Hey everyone! 👋
Last week, we explained some of the basics to know when it comes to understanding divergences in the markets. If you haven’t read that post, be sure to check it out here: 👇
In this post, we are going to examine bullish divergence further, along with a few exhibits. Please remember this is an educational post to help everyone better understand investing and trading principles. In no way are we trying to promote a particular style of trading!
Table of contents:
1. What is bullish divergence?
2. Types of bullish divergence
3. Some examples
When the price of an asset is moving in the opposite direction of a technical indicator, such as an oscillator, it is called divergence. Divergence warns about potential underlying weakness in the current trend.
What is bullish divergence?
A bullish divergence occurs when prices fall to a new low while the oscillator fails to reach a new low (exception being hidden bullish divergence). Positive divergence signals that the price could start moving higher soon. Generally, a bullish divergence occurs at the end of a downtrend. It has two sub-types:
- Regular Bullish divergence
- Hidden Bullish divergence
What is classic bullish divergence?
The classic bullish divergence occurs at the end of a bearish trend and indicates that a trend reversal may occur soon. In this, the price and the oscillator always either form lower lows or equal lows. It can be subdivided into 3 types, based on the strength.
1. Strong Bullish Divergence
In strong bullish divergence, the price forms lower lows but the oscillator forms higher lows. This means that the sellers are not selling at the same momentum i.e. the selling momentum is decreasing.
Price : Lower lows
Oscillator : Higher lows
Exhibit: Strong Bullish Divergence
Exhibit: Strong bullish divergence followed by a reversal
2. Medium Bullish Divergence
The price makes double bottom (almost the same level as the previous low) and the oscillator makes higher lows. This indicates that at the same price levels, the momentum is increasing.
Price : Equal lows
Oscillator : Higher lows
Exhibit: Medium bullish divergence
Exhibit: Medium bullish divergence followed by a reversal
3. Weak Bullish Divergence
In this, the price makes lower lows but the oscillator has almost equal lows. This means, that even though the price is decreasing, the momentum is intact.
Price : Lower lows
Oscillator : Equal lows
Exhibit: Weak bullish divergence
Exhibit: Weak bullish divergence followed by a reversal
What is hidden bullish divergence?
The Hidden divergence occurs during the correction phase of a trend and is a possible sign of a trend continuation. In this, the price forms higher lows, but the oscillator forms lower lows. This indicates that even at a decreasing momentum, there is enough buying going on to push the price upwards. This type of divergence occurs with less frequency as compared to the other types.
Price : Higher lows
Oscillator : Lower lows
Exhibit: Hidden bullish divergence
Exhibit: Hidden bullish divergence followed by a reversal
Thanks for reading! As we mentioned before, this isn't trading advice, but rather information about a tool that many traders use. Hope this was helpful!
See you all next week. 🙂
– Team TradingView
Feel free to check us out on Twitter and Instagram ! 💘
Trading -- Five Common Psycho-HurdlesFear of Missing Out
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You missed a great opportunity yesterday. You take it as a mistake and don’t want to repeat it. So, today you enter in a hurry, deviating from your edge/strategy thinking that you will nail it this time. But that might not be the case.
Missing an opportunity, because it was not in-line with your back tested strategy, was perfectly fine. You were still following the right path. But after missing a couple of rallies, you decided not to miss the next one. This leads to disaster.
If you are missing too many opportunities and want to deal with it, then think of modifying and back testing your strategy.
Revenge Trading
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You take a long trade in the morning and stopped out in the just 15 minutes. You don’t digest this loss and want to recover quickly. So, you not just reverse your position but also double it. In the next candle market again stops you out, multiplying your losses.
Your first loss was still ok to bear with. But reversing and doubling was an absolute blunder. If you enter into a position as, per your edge, and got stopped out then consider it as a drawdown that one can face in any strategies. There are no peak without a valley. If you miss a valley, you will surely miss the peak too.
Greed Entering your Mind
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“If you do not book profits, you will book loss.”
You need to define two things while trading: risk involved and potential gain. If you have taken a trade and its not in favor, just do not average to bring down the cost. This oversize your position and eventually multiplies the risk.
Also, if you have set targets (price target or profit amount target), just exit (at least partially) there. Taking out profit from the market is of utmost importance as this is the prime objective of this business.
Waiting for too long, when in profit, may bring you back to breakeven in a volatile event. But if your strategy says to trail a profitable position, its perfectly fine to do so as you will be locking your profits.
Paper loss is Not Real
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Suppose you entered a trade at 500 and your stop loss is 490. The stock starts turning down and your PnL is in red. The stock is at 492 but your brain says its loss. This impression is so powerful that you could not stop yourself from closing the trade.
You placed the SL as per your plan. Any loss that you see before your SL hits is just a paper loss. You SL defines your real loss.
Lack of Discipline
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All the above hurdles result into lack of discipline, which stops you from being profitable.
You have to have a strategy/edge in the market with some back testing. Then you need to strictly follow that edge. You may tinker a bit with your edge if it is needed.
Discipline is nothing more than religiously following your plan of action. Putting efforts to train your brain against all the above psychological hurdles can make you a disciplined trader over a period of time.
There might be more psychological hurdles but I think these are the crucial ones to deal with.
Do like and share for such posts in future.
How To Read Neowave Charts by Neowave ForecastHello Traders and Investors
My Name is Manish Singh and i am an expert in Neowave. In this chart i have describe the coding method to read my charts.
In Neowave Charts Degree labels used as intermediate, primary and cycle degree which is hard to understand by new user. Actually they understand 1 to 5 labels but they dont get the quiet idea in one look in which trend is this count is given. Thats why i came up with something simpler. So i am publishing this in the hope they everyone new trader easily understand the chart that it is in corection or in motive wave and for what time frame.
As they follow my charts, than with time they will understand which degree takes how much amount of time approximately to complete its structure and it surely does in learning the neowave.
Anyway friend kindly tell how you like the idea of this kind of coding.
I am also puting some examples of chart here.
1) This is the chart of nifty in which long term wave is in correction and you can judge with the help of medium wave degree that where is long term wave correction can end or actually new trend is going to start now or it become a failure. you can judge the chart pattern with is also as you can see this is an flat structure.
2) This is another chart of USD/JPY
In this chart i have used the old style of coding so that you can compare which one is easier to understand trend. As you can clearly understand with the help of count that it is going up but you were unable to catch that in which degree it is up or how long it will sustain there. Is there much bigger degree from the current one i am seeing.
'Inside' Story of 'Inside' Candle !!!! -> Definition of Inside Candle
As the name suggests, an inside bar chart pattern engulfs the inside of a large candle, some call it a mother bar. It’s a pattern that forms after a large move in the market and represents a period of consolidation.
The inside bar pattern can be a very powerful price action signal if you understand how to trade it properly. Matching lows and highs are acceptable, however, the inside bar’s range must not be outside of the mother candle by even 1 point.
-> Facts about Inside Candle
Inside bar pattern within the trading range (or shadow) of the preceding bar.
It is at least a two candlestick formation.
Mother candlestick can be either bullish(green) or bearish(red).
The inside bar chart pattern can be bullish or bearish.
Inside bar setup.
-> Procedure to trade Inside Candle
Entering: – When the price action completes an inside candlestick chart pattern, you should mark the low and high of the Inside Bar consolidation range. These two levels are used to trigger a potential trade.
Remember, the inside candle clues us into the eventual breakout and likelihood of a continuation outside the range in the direction of the break, however, it doesn’t give us information about the direction of the breakout through the range, prior to the actual move.
In simple terms, if the price action interrupts the range upwards, then you should go long. If the price action breaks the range downwards, then you should trade the short side.
Exiting: – Projecting the potential move with Inside Bar Breakouts can be challenging. Often inside bar trades can lead to a prolonged impulse move after the breakout, so employing a trailing stop loss after the price has moved in your favor is a smart trade management strategy.
Stop Loss: – In either case (If you are Long or short), your stop should be located below the bottom of the range, as stated in the picture below. There can be a buffer of 1% below the range.
-> Inside Candle helps to identify change in trend
The inside bar candlestick pattern is such a valuable tool because it tells us that the market is not as bullish or bearish as it was in the preceding period.
Being able to identify periods of market expansion and contraction will help any trader improve their odds of finding a winning trade because we know from history that expansion and contraction can only last so long.
When either of those market phases ends, the resulting moves can be explosive!
My OBSERVATION -> It is more effective if used with RSI i.e. when RSI is greater then 70 and inside candle is formed , that spot is best for shorting,
and if RSI is less then 30 and inside candle is formed , that spot is best to go long.
What is divergence?If you have been in the market for some time, you may have heard of something called “divergence” . Today we are going to share an informative write-up along with a few exhibits that may help you solidify your understanding of this important trading concept. This post will also lay the groundwork for future posts about related topics.
Please remember this is an educational post to help all of our members better understand various concepts used in trading or investing. This in no way promotes a particular style of trading!
We are going to cover the following topics:
1. What is divergence?
2. What are the different types of divergence?
- Bullish divergence or Positive divergence
- Bearish divergence or Negative divergence
Introduction
When the price of a stock moves in a certain direction, the momentum oscillator should also move in the same direction.
Example : When the Price makes a higher high, the momentum oscillator should also make a higher high. This is called convergence since both the price and the momentum are converging in the same direction.
In a few circumstances, the momentum oscillator and the price do not move in tandem. This is called Divergence.
What is Divergence?
When the price of an asset is moving in the opposite direction of a technical indicator, such as an oscillator, it is called divergence. Divergence warns about potential underlying weakness in the current trend. The price may or may not reverse at the exact occurrence of the divergence.
Different types of Divergence
Broadly, divergence can be classified as positive or negative. Positive divergence is also known as “Bullish divergence”, while the negative divergence is typically called “Bearish divergence.”
1. Bullish divergence / Positive divergence
A bullish divergence occurs when prices fall to a new low while the oscillator fails to reach a new low (exception being hidden bullish divergence). Positive divergence signals that the price could start moving higher soon. It has two sub-types:
i) Regular Bullish divergence
ii) Hidden Bullish divergence
Some exhibits of Bullish divergence:
Exhibit 1: Regular bullish divergence
Exhibit 2: Hidden bullish divergence
Exhibit 3: Bullish divergence followed by a subsequent reversal
2. Bearish divergence/Negative divergence
A bearish divergence occurs when the price rises to a new high while the oscillator fails to reach a new high (exception being hidden bearish divergence). Negative divergence signals that the price may soon start falling to lower levels in the future. It also has two sub-types:
i) Regular Bearish divergence
ii) Hidden Bearish divergence
Some exhibits of Bearish divergence:
Exhibit 1: Regular bearish divergence
Exhibit 2: Hidden bearish divergence
Exhibit 3: Bearish divergence followed by a subsequent reversal
Thanks for reading! As we mentioned before, this isn't trading advice, but rather information about a tool that many traders use. Hope this was helpful!
See you all next week. :)
– Team TradingView
Running triangle Leading and Ending Diagonals
Comparison between Running triangle-Leading and Ending Diagonals
Chart 1 depicts a theoretical structure of Running triangle and an ending diagonal in a down trend.
As mentioned the comparison is in a downtrend. Accordingly downward move is termed as directional move and move to the upside is termed as non-directional.
A running triangle has non-directional momentum ie faster moves to the upside (wave A, C and E) than the downward moves (Waves B and D). These non-directional moves donot retrace the previous move completely.
On the contrary, Ending diagonal has directional momentum ie faster moves to the downside (waves 1, 3 and 5) in the direction of trend and these downward moves completely retrace the previous non-directional corrective moves (wave 2 and 4).
Chart 2 depicts a theoretical structure of Running triangle and an ending diagonal in an uptrend.
Differences in a running triangle and leading diagonal is opposite to that mentioned for downtrend.
As mentioned the comparison is in an uptrend. Accordingly upward move is termed as directional move and move to the downside is termed as non-directional.
A running triangle has non-directional momentum ie faster moves to the downside (wave A, C and E) than the upward moves (Waves B and D). These non-directional moves donot retrace the previous move completely.
On the contrary, Ending diagonal has directional momentum ie faster moves to the upside (waves 1, 3 and 5) in the direction of trend and these upward moves completely retrace the previous non-directional corrective moves (wave 2 and 4).
How to draw a good Trend Line .?(SCANNING TRENDING SCRIPS)
1) First, find a trending stock where , price moving up or down in a swinging fashion, like higher swing highs higher swing lows for up trend and lower swing lows and lower swing highs for down trend.
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(FILTERING OUT THE IMPERFECT TREND LINE)
2) At least three touches ,I mean touches without crossover. If you making a trend line by connecting swing lows then price should not be traded both the side price should be at left side of the trend line only that is the core concept of trend line.
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3) Check the distance between touches the distance between consecutive touches should not very too much.
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4) (SLOPE)
The slope of trend line should not be very steep. Flat trend line is okay but very steep trend line is not a good trend line.
Note: the trend lines are not very different from Support and resistances , The concepts apply to them is exact same just with one difference is that they are "TILTED". Trend lines also called tilted support and resistance.
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The more you practice the more you get the grip.There are some trend lines ideas I shared where you can observe how price behave at trend lines.
Examples:
EDUCATION- ABC PATTERN IN NIFTY- ELLIOTT WAVEThis is the educational post, regarding how ABC- Zig-Zag pattern looks like, how it is formed and what are the possibilities regarding targets targets and stop-loss.
1- basic structure for wave ABC.
Here, wave A starts from 0 (starting point of wave A) to A (end of wave A) wave A completes here.
Next, wave B starts from A (end of wave A) to B (end of wave B) wave B completes here.
Next, wave C starts from B (end of wave B) to C (end of wave C) wave C completes here.
2- Sub Structure
Wave A consists of 5 wave structure (wave1,2,3,4,5)
Wave B consists of 3 wave structure ( wave a,b,c)
Wave C consists of 5 wave structure (wave1,2,3,4,5)
Wave A & C must fulfill all conditions of impulsive wave where as wave B must satisfy all conditions of corrective wave.
NOTE: we have shared chart on daily time frame and in our educational post we taking 1 hour time frame for better understanding
I have marked wave A, wave B and wave C on 1 hour timeframe with sub wave counting for better understanding.
Impulsive wave conditions:
impulsive subdivides into 5 sub-waves, where, wave 1,3,5 are impulsive and wave2,4 are corrective
wave 2 cannot retrace 100% of wave 1
within all three impulsive waves wave 3 cannot be shortest
wave 4 cannot ends in wave territory of wave 1
Their must be some alteration within wave 2 and wave 4
Now after wave A formation, we must confirm it's ending and should wait for corrections.
Retracements should be confirmed with fib correction tool and corrections could end somewhere between 3% to 61%. (refer diagram)
Wave B must consists of corrective wave structure i.e. A,B,C (corrective wave could be any one of following: Zig Zag, Flats, Extended Flats & triangles, double threes, triple threes etc. shall cover all patterns in nest post!)
Now again when wave B gets end and confirmed, one must start looking for trade possibilities in wave C, as Wave C is the most powerful among all corrective wave structure. (trend based fib extension tool made used for finding targets of wave C)
Normally wave C must end after extending 100% of wave A ( normal conditions) and in extended conditions it must ends somewhere 100% to 161% or even more.
Gold's Golden Rule Of 89% (Pack Your Bags For Big Ride)Gold's Golden Rule Of 89%
Golden history of last 50 years have shown that Gold has give big move whenever there is a minimum 89% move from bottom. Chart is self explanatory. There are three successful incident of min 89% move and two unsuccessful incident of less than 89% move.
Successful Incidents
1. 1970 - 1972
2. 1976 - 1978
3. 1999 - 2005
Unsuccessful Incidents
1. 1982 - 1983
2. 1985 - 1987
Fourth move in the making from 2015 - till date. So Gold is getting ready to fly again.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
How to use the bar-replay feature of Tradingview? Hey everyone!👋
Today we wanted to share one of the most powerful features of TradingView, our beloved "Bar replay feature". Let’s get started! 🚀
1. When you open TradingView, you will find an option called "Chart". As soon as you click it, it will redirect you to a blank chart template.
2. In the top toolbar, you will see a “Replay” option. Just click it to open the Bar Replay toolbar.
3. There are 6 buttons on the playback toolbar. These buttons explain their functionality with a small label when you hover over them.
4. After opening the replay toolbar, the chart enters the selection mode for the starting point. The Blue vertical line along with Jump To button can be used as a tip. Click on any historical bar to select the starting point of your playback.
5. You can launch the auto-play by clicking the Play button and can adjust the update speed using the speed button. In addition to this, you can load each data update manually by clicking the Forward button.
6. To select a different starting point when the playback is in process, just click the “Jump-To” button and select the new historical bar from where you want to start.
7. The replay toolbar also works in case of multiple chart layouts. It will display the replay of the active chart. You can toggle between the replays of the charts by exiting the reply of the active chart and then selecting the replay on the other.
8. To end the playback and return to the real-time data, all you need to do is just click the Realtime button. Pretty easy, right?
9. You can close your bar replay by clicking on the toolbar itself or by clicking the replay toolbar button from the top panel of your chart.
Obviously, the playback system is not foolproof yet and we work tirelessly so that we can improve it. But for the time being, there are a few other features and limitations that you should know about the playback mode.
- New server-side alerts can’t be created in playback mode. They only work in real-time.
- Orders are filled based on real-time data, never in playback mode.
- Quotes that are shown in the trading panel and in the watchlist match real-time data when the chart is in playback mode.
- Regression Trend and Volume Profile Fixed Range tools don’t work during playback. They will automatically adjust to the nearest point and hence, won’t give desired results.
- Indicators with security functions don’t work during the playback.
- The depth of history that is available for playback can be limited depending on the specifics of symbol data.
- Bar replay doesn’t work for Heikin Ashi, Renko, Line break, Kagi, Point, and Figure chart.
Nevertheless, the above notes shouldn’t stop you from trying out this amazing feature. The bar replay can be invaluable in analyzing your old trades or in backtesting a trading system. If you have any feedback for us, please write it in the comments section below.
See you all next week :)
- Much love, Team TradingView 💘
The Rising Wedge PatternA rising wedge is a bearish pattern when it appears at the top of a mature uptrend. It signifies that a potential top might be in the offing. The duration (short/medium/long term) of the top depends upon the timeframe on which it appears.
Preconditions
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> A strong mature (multi-day/week)trend in the background
> Wave HH1 to be extremely smaller than H
> HH2 should be smaller than HH1
> HH-HL structure results into a rising wedge or arrowhead
> It should appear at the potential top of a rally
> Wave LL has to be snappier/abrupt/faster than wave HL & L
Volume characteristics
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> The volume in HH1 is generally less than volume in wave H
> Volume in HH2 is less than volume in HH1
> Volume in wave LL should be higher than volume in wave HL and L
Confirmation
-----------------
> Wave LL breaks the low of wave HL
Psychology
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> Weak character of waves HH1 & HH2 with shortening of length and lesser volume means buyers are not interested at these levels
> Breakout buyers trapped above H and HH1
> Sharp wave LL with increasing volume suggest that sellers are taking over and a potential medium to long term top may be in place
Trading
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> Book profits full/partial, in any long position, at the break of HL
> Risk takers short at the break of HL but risk in may be large as stop loss (above HH2) could be wide
> Other may wait for a pullback on the upside (after break of HL); price often reverts back to average prices where short position can be taken
> Always try to minimize risk, either by reducing position size or otherwise
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Thanks for reading
How to play potential level breakout (From my latest trade)Steps
1) Identify potential breakout zones , crucial supports , resistances ,trend line , Patters like (triangle , rectangle , consolidation )
TATA POWER
other examples
UJJIVAN
ADANIENT
BTCUSD
BANKNIFTY
2) Wait for breakout "do not enter just seeing the breakout " ,watch carefully the volumes , then wait for a price to retest the level.
Many times when the prices make a crucial level , big players tend to exhaust this opportunity and fools us by fake breakout you can see my UJJIVAN idea in the links below.
3) when in price retest and start moving up then enter above just high of recent up swing and keep sl at the low of latest down swing.
This three steps are most effective approach for playing out the breakouts.
Market Phases - Every trader must knowMarket Phases -Stock prices may appear random, but there are repeating price cycles, which are predominantly driven by the market participation. Below are the four types of market phases that occur.
Phase 1: Accumulation - The accumulation phase is a stage of consolidation. There is no clear trend, and the stock is usually trading in a range. It's a span of time in which traders and institutions are slowly accumulating shares, but the market has not broke out yet. Trend traders finds difficulty to trade.
Phase 2: Advancing - During the advancing phase, price breaks out of range (comes out of the accumulation phase) and begins a sustained uptrend. This stage is when the price begins moving up. The big money has established a position and retail investors are now invited to join in the profit party. This is the most profitable time to own the stock – an opportunity to let your profits run.
Phase 3: Distribution - The distribution phase begins as the advancing phase ends and price enters another range period. The shares are being sold over a period of time—the opposite of accumulation. This time, the sellers want to maintain higher prices until the shares are sold.
Phase 4: Declining - During the declining phase, price breaks out of the range (comes out of the distribution phase) and begins downtrend. This stage comes after distribution when price begins moving down.
Now lets understand them one by one in detail :-
1.)Accumulation phase where trend traders find difficulty to trade
Accumulation usually occurs after a fall in prices and looks like a consolidation period.
Characteristics of accumulation phase:
It usually occurs when prices have fallen over the last 6 months or more
It can last anywhere from months to even years
It looks like a long period of consolidation during a downtrend
Price is contained within a range as bulls & bears are in equilibrium
The ratio of up days to down days are pretty much equal
The 200-day moving average tends to flatten out after a price decline
Price tends to whip back and forth around the 200-day moving average
Volatility tends to be low due to the lack of interest
Examples of Accumulation -
How To Trade Accumulation ??
1.)Sell At Resistance
2.)Buy At Support
Do not go blindly short at resistance, wait for any reversal candle or look for any negative price action in smaller TF. Look for reversal candles
Never buy blindly on support. Look for reversal candles. Switch to smaller Time-frame find a bullish price action/ bullish chart patterns.
Never Ever Trade At Midpoint In A Range Market. You never no where it will head, to the the support area or to the resistance area.
2.)Advancing phase which trend traders love — Best trading strategy is to long the uptrend
After price breaks out of the accumulation phase, it goes into an advancing phase (an uptrend) and consists of higher highs and lows.
Characteristics of advancing phase:
It usually occurs after price breaks out of accumulation phase
It can last anywhere from months to even years
Price forms a series of higher highs and higher lows
Price is trading higher over time
There are more up days than down days
Short term moving averages are above long-term moving averages (e.g. 50 above 200-day ma)
The 200-day moving average is pointing higher
Price is above the 200-day moving average
Volatility tends to be high at the late stage of advancing phase due to strong interest
Examples of Advancing
How To Trade Advancing ??
1.)Breakout Trading - Where you above the highs
2.)Pullback Trading - Where you buy support which was earlier a resistance. This is called change in polarity.
Avoid Trading against the trend. If you trade then take small profits. You will get max with the trend.
3.)Distribution phase- - Distribution usually occurs after a rise in prices and looks like a consolidation period.
Characteristics of distribution phase:
It usually occurs when prices have risen over the last 6 months or more
It can last anywhere from months to even years
It looks like a long period of consolidation during an uptrend
Price is contained within a range as bulls & bears are in equilibrium
The ratio of up days to down days are pretty much equal
The 200-day moving average tends to flatten out after a price decline
Price tends to whip back and forth around the 200-day moving average
Volatility tends to be high because it has captured the attention of most traders
Examples of Distribution :-
How To Trade Distribution ??
1.)Sell On Resistance
2.)Buy On Support
Do not go blindly short at resistance, wait for any reversal candle or look for any negative price action in smaller TF. Look for reversal candles
Never buy blindly on support. Look for reversal candles. Switch to smaller Time-frame find a bullish price action/ bullish chart patterns.
Never Ever Trade At Midpoint In A Range Market. You never no where it will head, to the the support area or to the resistance are.
4.Declining phase - Best trading strategy is to short the downtrend
After price breaks down of the distribution phase, it goes into a declining phase (a downtrend) and consists of lower highs and lows.
This is the stage where traders who do not cut their loss become long-term investors.
Characteristics of declining phase:
It usually occurs after price breaks out of distribution phase
It can last anywhere from months to even years
Price forms a series of lower highs and lower lows
Price is trading lower over time
There are more down days than up days
Short term moving averages are below long-term moving averages (e.g. 50 below 200-day ma)
The 200-day moving average is pointing lower
Price is below the 200-day moving average
Volatility tends to be high due to panic and fear in the markets
Examples of declining :-
How To Trade Declining ??
1.)Breakdown Trading - Where you sell below the lows
2.)Pullback Trading - Where you sell on rise after a breakdown. Supports turned into resistance. This is called change in polarity.
Avoid Trading against the trend. If you trade then take small profits. You will get max with the trend.
Hope you all learnt from this post. Share with the community if you liked it.
Regards
Omahto
How to use the TradingView screener?Hey everyone! 👋
Today we want to enlighten you about an amazing feature of TradingView, "the screener". The screener is one of our most powerful tools. As the name suggests, it is used to filter symbols (stocks, cryptos, and currencies) based on certain technical or fundamental aspects. The screener works for 3 different markets - stocks, crypto, and forex and any script can be shortlisted based on technicals, fundamentals, or a mix of the two.
Sounds good? Let’s get started. 🚀
If you open the homepage of TradingView, you will be greeted with an option called "Screeners" .
If you hover over it, you will see 5 options , namely:
1. Stock screener
2. Forex screener
3. Crypto screener
4. Stock heatmap
5. Crypto heatmap
Select and click the screener that you want to use. (In this post we are mainly concerned with the screener, so let's ignore the heatmap).
The main page of the screener will look like this:
The stocks will be listed in columns along with various technical entities such as change, volume, change %, technical rating, as well as fundamental entities such as EPS, P/E, sector, etc.
You can add or remove more details by using the “3 vertical lines” icon. If you click on it, you will see a whole lot of technical and fundamental elements. These include moving averages, MACD, RSI, volatility, total assets, total debt, total liabilities, total revenue, etc.
There are plenty of foundations on which you can sort the stocks. These can be margins, valuations, balance sheets, performance, oscillators, etc.
There is an option on the extreme right-hand side of the toolbar, named "Filters". It provides a facility to add custom filters based on the financials or technicals.
There are also plenty of pre-made screens that can be accessed just by clicking the option to the left of the "Filter" tab. The default screens include top gainers, top losers, unusual volume, overbought, etc. The best part is, you can export the screener data to a CSV file. Amazing, isn’t it?
Feel free to experiment with the screener and let us know what you think. Or are there any more things you'd like us to include?
See you all next week :)
- Much love, Team TradingView 💘
