Mahanagar Gas: Fake Breakdown Reversal @ Rs. 978The stock has given a fake breakdown reversal today. One can plan a pullback trade near 980-990 and keep a stop loss of 959.
Fakeout
TATASTEELreason behind closing all who understand price action/chart patterns knows what i am saying
Short Sellers trapped!In Tata Motors you will notice that after the trendline breakout there was a panic selling,
traders who have short there and thought it was just a retracement when the price was reversing were trapped
This is also a fakeout Setup
Where smart traders went long!
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How to trade Fake out with the setup of Breakout!Only with the PRICE ACTION you will be able to trade this moves which provides you great R:R
If you are interested to learn those price actions skills and implement them in your trading setup feel free to contact me!
Edge of Space (EOS) trade in RComWhat is Eos ?
EOS stand for Edge of Space. It is basically a line drawn at the previous Swing High or Swing Low. If the price breaks and closes below the previous swing low making a new lower low, we say that the market wants to go down. However, if later the price rises and cloese above the EOS line, (which might be the case with RCom), we consider it a fake out and expect the market to reverse to hit our very small target.
Similarly, If price breaks and closes above the previous swing high making a new higher high but soon after closes below the EOS line, (drawn at the high of the previous swing high) we consider it a fake out as well.
We rake the help of RSI to confirm the EOS trade. RSI divergence adds to the probabilty of the trade working in our favour.
In the case of Rcom, if the price closes above the EOS line, we go LONG for a small target with stops just below the previous swing low.
Do tell me what you think.
BankBaroda: Fakeout Bullish StrategyI did apply the same strategy on 1H chart. Those who followed would have made nice profit.
If this strategy works on the 4H chart, the profits could be even better.
Manage your trades well.
Notes on the chart.
Hit Like
Trade Safe
Thanks
Bravetotrade
