MARATHON (D) looks good for more upside :) keep track closely
Elliott Wave Methodical Structure This is a motive cycle of the Elliott Wave in which you can observe waves 1,3 and 5 are in direction of a trend. Wave 2 and 4 are against the direction which is called a "Corrective Wave". Five-wave structures, numbered (1)-(5). In the direction of the main trend of one larger degree. Wave 2 cannot retrace at the starting...
Financial Ratios help you evaluate a company. Most financial ratios will show you how much money you're paying for a specific piece of the business. Let us give a few examples: Price-to-Sales Ratio = Market Cap / Sales The Price-To-Sales ratio or PS ratio tells you how expensive a company is relative to its total sales. The formula is calculated in two different...
What is an Ascending Triangle Pattern? Ascending Triangle Pattern is a continuation pattern that means when it plays out it will continue the preceding trend. It is created by price moves that allow for an upper horizontal line to be drawn along the swing highs, and a lower rising trendline to be drawn along the swing lows. These two lines form an ascending...
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Current wave counts Primary-wave 2 (orange) Intermediate-wave A (Blue) Minot-wave B (Red) Minute-wave C (Yellow) Applied Neo wave Impulse Rules: 1)Counting started from faster retraced low 2)wave 2 should not retrace wave 1 by more then 61.8% 3)wave 2 should be equal or longer then wave 1 in terms of time 4)0-2 TL should be clean and price action of 1 should not...
We can count waves using traditional patterns like Head and shoulders, Double Top and Bottom, Triangle, cup & handle, etc. This article is about how you can count waves by identifying chart patterns. I have covered Three chart patterns in this article, 1) Triangles 2) Head and shoulders 3) Double Top and Bottom 1) Head and shoulders : In addition, the two lows...
Toggling between numerous stocks can be tiresome. Using a strategic method to identify potential set ups can save your time and deliver amazing results! In the above chart, I first noticed that the price was around its support. It can be confirmed by seeing the previous price swings that the support is well tested. Next I look at the MACD to confirm if the...
For the purpose of demonstrating how one can identify a trend change using Support - Resistance and Price Action, I have taken the daily chart of IEX. I had also identified and posted about it before the recent rally. The first step is to establish a clear support and resistance line. In case of a breakout, I like to keep my target at around the same price...
Disclaimer: This is NOT investment advice. This chart is meant for learning purposes only. Invest your capital at your own risk.
hdfc bank double top selling opportunity in hourly chart.also trendline broken so go short with stoploss
The stock has been trading in the range for past 200+ days and has started to show the signs of strength and these are: 1. A quick bounce from the support taking out the short term resistance of 1070. 2. Volumes have stated to increase showing the bullish sentiment among buyers. 3. The gap between 21-day and 50-day EMA has been reducing. Why this time the...
CHANNEL PATTERN :- It is nothing but a formation of two almost parallel lines between which the stock oscillates. Channel can be of 3 types : 1) Horizontal Channel 2) Rising Channel 3) Falling Channel It is a constant fight between bears and the bulls and victory is decided by the breakout or breakdown of the channel pattern. Bulls wins the fight if breakout...
Hi Its been a while since my last post. In this post I have represented selective candlestick reversal patterns. In a candlestick, "body" represents the distance between candle OPEN and CLOSING price. Whereas "wicks" represent the entire range of the candle from TOP to the BOTTOM. In most of these patterns only bodies are important. There are no conditions for...
RSI Divergence refers to the deviation of RSI with respect to price. Even though the price may be going in a set direction (say making lower lows), the RSI could go in a completely different direction (higher lows). RSI is a clearcut indicator of buyer strength or buyer accumulation at a specific given time and price. An RSI Divergence generally is strongly...
Market respect that trend line, which was previously Resistance Line and break, after few days It became Support Line.
Flag and pole is a bullish pattern. I it breaks the channel upside stock price makes a new high. But if it breaks the downside then it will no good breakout. How flag and pole pattern work:- Flags are areas of tight consolidation in price action showing a counter-trend move that follows directly after a sharp directional movement in price. The pattern typically...
For the purpose of explaining the combined use of these indicators, I have taken the example of TCS - TATA CONSULTANCY SERVICES, which recently gave a clear breakout. Know your Lines! - By joining the recent highs and recent lows of a share price, we can identify if the share has a well tested Support & Resistance or not. I prefer those with a clear defined...