Community ideas
Black Friday giveaway - Win a Pro, Pro+, and a Premium plan!Hey everyone! 👋
As you may know, we are having our Black Friday sale in the latter half of this month. So, to celebrate this, we are giving away a Pro, a Pro+, and a Premium plan to you, our community of traders and investors.
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How to use the Multi-layout feature?If you track several markets or if you need to track multiple symbols simultaneously, the multi-layout feature is the way to go. It enables you to track different markets or the same symbol simultaneously on different time frames. This particularly comes in handy if you trade indices and need to track the constituents to observe their price behaviour.
Example : If you trade Bank Nifty index futures or options, you can track the top constituents of the index. This will help you in assessing which constituents are pulling up or dragging the index and how the overall move can unfold.
This short visual guide will help you in accessing and customizing the multi-layout feature. Let’s get started!
1. Open the homepage of TradingView, go to “ Products ” and then open your chart layout.
2. Once you are on the chart page, you’ll see a small square icon at the top-right hand side of the screen. This is the “ Layout ” option. Click on it to view different available options.
3. As soon as you click on it, you’ll be greeted with a small window showing various combinations of horizontal and vertical layouts .
4. You can select the desired layout as per your needs. The vertical layouts look great on monitors in landscape mode, whereas the horizontal layouts go with portrait mode.
Please note that the number of charts per tab varies with the subscription type. The limit is as follows:
Free plan- 1 chart (Can’t use the multi-chart feature)
Pro plan - 2 charts
Pro+ plan - 4 charts
Premium plan - 8 charts
If you need to upgrade your account, be sure to check our Black Friday sale . You can get up to 60% off on subscriptions.
5. As we mentioned earlier, the multi-layout feature enables you to track several markets simultaneously or the same symbol on different time frames.
Example: Tracking different markets
Example: Tracking the same symbol on different time-frames
Observing the same symbol on multiple time frames provide easy insight into the multi-time frame analysis.
6. There are also a few synchronization options. You can synchronize the symbol, interval, time, crosshair, and date range between the charts. You can just select the sync option by just clicking on it.
Thanks for reading! Hope this was helpful!
See you all next week. 🙂
– Team TradingView
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Nifty Prediction For coming days
Lets see what are the possibilities for comning days in nifty
Bullish View as we can see Inverted H&S in weekly and daily TF, As projected in the Chart above and below. Lets not forget that we have All time high near by and anything might happen at this point,
So we will consider bullish only once the high is broken and retested and sustained. Simple price action patterns trade will help you keep your mind clean regarding the trend, And identify perfect S&R levels.
Now lets see the Big WHAT IF !!
Weekly
The Picture above Shows the Possibilities of RSI Divergence if at all matket reaches the All time high, Thats when we might see a Double top with RSI divergence. Take confluence from Volume and Oscilator divergence for bearish moves,
Look for Option chain Open Interest Levels see if major call are being written or puts being bought, these will help you identify the trend reversal.
MTF anaysis helps you trade with trend. I made Weekly and daily .. now its your turn to make intraday analysis. You can reach out to me here if you need any suggestion.
First train you eyes to identify the patterns then think about logic and its technical aspect.
No one swims without drowning first and no one wins without loosing first.
Symmetrical triangle pattern reversal in AUBANK.AUBANK
Key highlights: 💡⚡
📊On 1W Time Frame Stock Showing Reversal of Symmetrical triangle Pattern .
📊 It can give movement upto the Reversal target of Above 660+.
📊There have chances of Breakout of Resistance level too.
📊 After Breakout of Resistance level this stock can gives strong upside rally upto above 880+.
📊 Can Go Short in this stock by placing stop loss below 560 or last swing Low.
INDIAN HOTEL : BREAKOUT AWAITED - TRADE WITH RISK REWARD OF 1:5 Price has shot up in a narrow channel and facing resistance at key levels.
Price has tested this resitance thrice and looks like now is in a position to break this resistance to
give a upmove of 15 %.
Risk Reward & Stop loss mentioned in the chart.
Top and Bottoms: Price and Volume IndicationsHi, I personally look for following scenarios while identifying potential tops and bottoms and it works most of the times.
For tops:
High volume bars with very little progress on the upside
Exceptionally wide bars with very high volume
For bottoms:
High volume bars with little progress on the downside
Exceptionally wide bars with very high volume
This might sound confusing at first instance but it’s a very simple concept. Let us understand with the help of an example.
Adani transmission had a very sharp rally of 125% for approx. four months. But let’s see how this rally ended.
Notice very high volume indicating too much effort but the day had very little progress on the upside. Have you ever thought why this is so? Obviously due to sellers. Someone is stepping on it selling huge in a euphoric rally. This weakened the stocks.
Immediately after few days of this candle the stock made new high accompanied by a Doji. This is the first day in the entire 4month rally that it had a very high volume on a red day. Remember, we already had a weakness discussed above and this one was just a timely addition to this.
The stock lost buying interest after these two events. What may happen if buyers are not interested in a stock? Selling, right? Unfortunately, the reaction was very sharp and halted near a prior resistance level 3000, which is also a 50% retracement of the 4month rally.
Notice very high volume which I have labelled as stopping volume. Wide candles and huge volume again stopped the bearish rally. I won’t buy high volume down bars unless they are tested which it did with a lesser supply. It means that most sellers are out of this stock and not much selling left (at least for now).
The stock has since been trading in a range of 300-400 points. This strength (retests and hold) discussed above may hold the stock above 3000 for a push on the upside.
Do not consider this as a tip. This is just a concept that I wanted to share. Please apply your due diligence before hitting the buy button 😉
Thanks for reading
Now you know what do..hit 🚀🚀🚀 and enjoy trading.
10 things to remember about bear markets, volatility, and panicTrading & investing is not easy. If it were, everyone would be rich.
One of the most difficult moments for all traders, and especially investors, is when markets are abnormally bearish, trending downward or in a direction that goes against their positions. Adding to that difficulty is when volatility is rising and when uncertainty is high. These events have occurred throughout market history and should be expected. Every trader or investor should remember a simple truth: markets will go against you at some point. Be prepared.
Learning to trade or invest in bearish and volatile markets requires great skill, experience, and composure. The last 12 months have demonstrated that. Stocks, bonds, forex, crypto, and futures have seen heightened volatility over the last 12 months. So what should we do? What now?
Let's revisit the basics - the skills, traits, and mindset that are required to survive these moments.
1. Plan ahead 🗺
Plan your trade, trade your plan. Every trade, and every investment, should have an underlying plan. Write out the basic questions before you buy or sell. For example, what is your desired entry price? What is your desired exit price? What is your stop loss? How much money are you risking? Why are you making this trade or investment in the first place? In times of volatility, these questions matter more than ever. Get back to the basics.
2. Don't rush 🧘♂️
Volatility, and especially market panic, cause people to make quick reactions. The pressure, the fast price action, often forces people to act without a moment to revisit their original plan. Don't do this! Take your time. Stay composed and deal with the hand you have been dealt.
3. Be patient with entries 🎯
Many traders & investors speak of buying dips, but this phrase does explain the steps required. You don't buy dips without a plan. You plan out your strategy, you wait for the perfect entry, and you let the market come to you. When the market is in a downtrend, and volatility is high, it is paramount that you remain patient, waiting for the perfect entry. Use limit orders wisely.
4. Know your timeframe ⏰
Are you trading for one day? One month? Or 5 years? These basic questions will remind you of what you're trying to accomplish and how rushed or patient you should really be. They will also remind you about the chart you should be looking at, whether you should be zoomed in to a 30-minute chart or zoomed out to a weekly chart, showing years of price history.
5. Have an exit strategy 🚨
An exit strategy means that no matter what happens, you know where your stop loss is and you know where your profit target is. No matter what happens, up or down or sideways, you have an exit plan. Do not leave any entry or exit up to chance. Create your exit strategy before you place the trade and follow it.
6. Tighten position size 💪
Added volatility and uncertainty need to be factored into your game plan before it begins in the first place. However, many new investors and traders forget to do this. If that's you, it's time to adjust your strategy, and your plan, for larger trading ranges, and volatility. The year-long trends that defined a previous market are now less valid.
7. Zoom out for historical context 🔎
Zoom out on your charts. Then keep zooming out. And now zoom out some more. Circle the latest candle, line, or price movement and let it serve as a reminder about where the price is today vs. where it came from. There's a saying: when in doubt, zoom out. Do not get lost in the moment, looking only at the day or week, but instead go research the entire history of price. Learn about what has happened in the past.
8. Cash is a position 💸
Want to dollar cost average into a trade? Want to buy more? Want to trade more? You need cash to do that. There is comfort in being able to participate in the volatility whenever you want. Cash is a position and guarantees this.
9. Avoid panic, FUD, and FOMO 😳
When emotions are running high, some of the biggest psychological mistakes can occur. FUD stands for fear, uncertainty, and doom. FOMO stands for fear of missing out. These are two common emotions in crashing markets. On one hand, everyone thinks the end is near and then on the other hand every little up move is the next bull run. Do not let these emotions take you.
10. Take a break 😀
Sometimes it helps to step away. Log out, close your apps, get outside and get some exercise. Come back to the markets when you're ready. Your mind will also be well rested now.
We hope you enjoyed this post and we hope it helps you as you navigate the markets.
Please feel free to write any additional tips or pieces of advice in the comments section below!
See you all next week. 🙂
– Team TradingView
Do check us out on Instagram and YouTube for more awesome content! 💘
'LEAP' the 'GAP' with the knowledge !!!Definition of a Gap:-
- Gap is a space left behind by a script in its price chart.
- It is the area of discontinuity price in the respective script.
- The reason may be anything but generally it occurs due to sudden changes in the sentiment of the market due to some events or news related to the particular script.
Types of Gaps:-
1. Common Gaps -
These gaps are not so certain to be considered. They are visible casually and almost every day as we have seen Nifty gaps up or down daily without any event or news. They have a high tendency to be filled (price generally comes back to that gap).
2. Breakaway Gaps -
A much more significant gap indicates the start of a new trend. Often seen at resistance or support points for example a stock is trading in a small band bounded with resistance and support and suddenly breaks the band with a gap on either side, now this gap indicates the start of the new trend which is according to the level which is broken.
Higher volumes at the gap point further confirm the move.
3. Runaway Gaps -
Runaway gaps are quite similar to the above one but, the major difference between them is runaway gaps are seen in the middle of the trend and breakaway gaps are seen before the trend. This gap indicates the strength of the trend and confirms the buying/selling interest in the stock.
This gap generally occurs in aggressive buying/selling interest due to news or events.
4. Exhaustion Gaps -
These gaps occur at the stage of exhaustion of the trend i.e. the trend is very close to finishing. If spotted correctly it could provide you exit at a very sweet spot. It is a typical sign of trend reversal. It generally occurs after the spike in the price of the stock.
This indicates that the market players are not interested to take the position at such a high/low price. The volumes would be unusual in this case.
My Observation: Breakaway and Exhaustion gaps can be spotted with help of RSI, if you RSI at choppy levels i.e. 40-60, and a significant gap is formed it is generally a breakaway gap. And if RSI is at extreme levels i.e. 15 or 85 and a significant gap is formed it is usually an exhaustion gap.
Trend is your friend & the fallacy of catching reversalsHere in this video, I discuss with you a losing trade which I took today and what we can learn from it.
I also share with you important things regarding gaps , and how a beginner is always trapped in reversals and why it's profitable to stay on the current side of the trend.
Follow @piyushrawtani if you find this video helpful .
Rounding Top patternHey everyone! 👋
Last week, we wrote about the "Rounding bottom" pattern. If you missed last week’s post, you can catch up here:
Today we are going to cover the "Rounding top" pattern along with a few examples.
Please remember this is an educational post to help all of our members better understand concepts used in trading or investing. This in no way promotes a particular style of trading!
The post will shed some light on the following topics:
➡ Basics and identification of the pattern
➡ Components
➡ Important aspects
What is a Rounding top pattern?
• A rounding bottom is a bearish reversal pattern that resembles the shape of the inverted "U".
• Rounding top pattern occur at the end of long uptrends and indicate a potential reversal.
• The pattern is also referred to as an inverted saucer due to its resemblance to an inverted saucer.
• Although, the volume and price move in sync but in practice, this can vary widely.
• When the price moves down from the neckline, it indicates weakness and suggests that the stock may begin a new downtrend.
Components of a Cup and Handle pattern:
A rounding bottom pattern can be divided into three main parts.
• Advance
• Formation of the base
• Decline
Important aspects:
1. Prior Trend: Since it is a bearish reversal pattern, the prior trend must be an uptrend. The top of a rounding bottom should ideally mark a new high or reaction high. The stock may trade sideways or flat for a long duration before the formation of the pattern.
2. Advance: The advance that leads to the formation of the high, can take a variety of forms. Sometimes, the up move has many whipsaws while other times, the stock may just trade flat.
3. High: In general, the pattern resembles an inverted "U" shaped top. However, it can also resemble an inverted "V" or an "M," but the high should not be too sharp. In addition to this, there is always a possibility of a new high due to a buying climax.
4. Decline: In general, the formation of the right half of the pattern should take about the same amount of time as the left half. This means that the down move of the highs should take about the same time as the up move. Moreover, the decline shouldn't be too sharp, or else there is a possibility of a bear trap.
5. Breakdown: The pattern is confirmed once the price breaks and sustains below the neckline. The price may return to the neckline to test for the supply before continuing downwards.
6. Volume: In general, the volume levels should be
- High during the up move
- Low during the formation of the base
- Rising during the down move
However, these are only guidelines and should not necessarily be taken at face value.
7. Target: Using the measurement objective, the target comes out to be equal to the depth of the base. It can be measured by calculating the distance between the bottom of the base and the neckline.
8. Stop-loss: Ideally, the stop loss is placed at the highest point of the base. But if the price oscillated up and down a number of times near the neckline, the stop-loss can also be placed above the most recent swing high.
Exhibit: Rounding top pattern with a failed breakout
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 Instagram and YouTube for more awesome content! 💘
TFCILTD near breakout?????????NSE:TFCILTD BSE:TFCILTD
Time Frame – Weekly
Note – Sharing chart before weekly closed. So, wait for weekly closing.
Observations :-
* Trendline breakout and weekly 200 SMA breakout done with huge volume candle
* Price trading inside the high-volume mother candle (Range 76.70 – 60.05)
* Trading in symmetrical Triangle pattern breakout above 77
* Price may show some quick upside to break the multiple resistance
Resistance – 77 / 83.85 / 100 / 115 / 134.35 / 154.40 / 182.25
Support – Weekly 200 SMA & 60 (mother candle low) & 67-60 zone
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.
NSE Bajaj Finserv - Can buyers face falling knives? Timeframe: 8h
Price started to form impulsive wave C after Bajaj Finserv completed correction wave B. There is also the possibility of altering the count with W-X-Y.
Wave (b) retraced 50% of wave (a), which signals intense supply pressure. If the price breaks wave (a) at 1621, traders can sell for the following targets: 1594 – 1569 – 1549 . Calculations are based on Fibonacci extensions. Price has completed 100% Fibonacci extension in wave A so that wave C could extend by 161.8% .
Currently, the price has broken down to 50 EMA , and a negative closing will result in further price declines. Parallel channel throw-over is one of Elliott wave principle’s best target measurement tools. Targets will be extended in case of an extension of the trend.
I will update further information soon.
#NIFTY heading down in Wave C to complete correctionNifty's rally from Mar '20 topped out on 18/Oct/21 at 18594 (near month futures contract) - almost a year ago.
Since then we can clearly see a sideways move that has gone within the earlier range for almost a year. One can see the subdivisions tracing out a complex W-X-Y correction. The upmove from 15676 starting early Mar this year topped out last month at 18123 completing the intervening X wave.
The down-up move since 12/Sep/22 subdivides as 5 waves down followed by a 3 wave upside correction. This is now setup for a resumption of the down move in Wave 3 - should be surprisingly fast and deep when it comes , heading to the 13300 - 15100 region.
The view stands as long as the the recent high of 18123 is not broken on the upside
BANKINDIA - Huge Volume Breakout- Bullish H&S pattern - Swing The analysis is done on daily TF hence price may take few days to few weeks in order to reach the targets.
Trade setup is explained in image itself.
The above analysis is purely for educational purpose. Traders must do their own study & follow risk management before entering into any trade
Checkout my other ideas to understand how one can earn from stock markets with simple trade setups. Feel Free to comment below this or connect with me for any query or suggestion regarding this stock or Price Action Analysis.
Is Bitcoin ready for a 24K$ Pump?Is Bitcoin ready for a 24K$ Pump?
The above chart of Bitcoin ( BTCUSDT ) laid out the descending triangle pattern. This pattern is often regarded as a characteristic of a bearish trend . It is formed by the upper trend line that connects the highs and a horizontal trend line connecting lows converges to form a triangle. If the price action breaches the lower support level , the bearish trend would be sustained.
Currently, Bitcoin ( BTCUSDT ) is in the range of $ 20250. If the pattern continues, the price of Bitcoin ( BTCUSDT ) might reach the support levels of $24700, If the trend reverses, then the price of Bitcoin ( BTCUSDT ) may rise to $17700
BTC has recently seen an increase in volume in the trend, which may indicate that the bottom has been reached. Price is currently consolidating between 20,000$ and 20,400$, which is another good sign at the bottom phase for a trend reversal.
According to the current structure of BTC, if it breaks the trend line resistance, the price of BTC may rise to 24.7K$.
Happy Trading
HAL Continuation of Up trendHAL continuously making new highs & in strong uptrend.
The stock has taken a pause & has formed a base/ascending triangle.
Perfect breakout trade candidate.
Accumulate decline till 2250, that would be the SL.
Once the stock breaks out of the base Move SL jsut few Rs below breakout Bar.