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Hammercandle

A Great Opportunity to Buy in DASHBTC , let's hunt together …Technical analysis: DASH/BITCOIN is in a range bound and the resumption of uptrend is expected. The price is below the 21-Day WEMA which acts as a dynamic resistance. The RSI is at 47. Trading suggestion: The price is in a range bound, but we forecast the uptrend would resume. There is a possibility of temporary retracement to suggested support zone (0.0455 to 0.0418). if so, traders can set orders based on Daily-Trading-Opportunities and expect to reach short-term targets. Beginning of entry zone (0.0455) Ending of entry zone (0.0418) Entry signal: Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Bullish Engulfing" , "Hammer" or "Valley" , in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone. To learn more about "Entry signal" and special version of our "Price Action" strategy FOLLOW our lessons: Take Profits: TP1= @ 0.0502 TP2= @ 0.0571 TP3= @ 0.0630 TP4= @ 0.0727 TP5= @ 0.0920 TP6= @ 0.0972 TP7= Free
Long
by ForecastCity
Day Trading with a Simple Strategy: Is it Easy ? :DNo absolutely not, its not easy. Perhaps the most difficult type of trading is the intraday trading. Reason being we have just 6 hours to accommodate our trades, and most of the time stocks dance here and there before giving that 15 min. to 30 min. window in which they give trending moves. I always get ready to lose when I day trade, but I always know how much risk to take. Today I had a small trade in Mindtree which I thought is worth sharing on TV. Mindtree has been in a downtrend on the daily and hourly charts. I watched it consolidating yesterday. Today it started the day with a gap outside yesterday's range and quickly retraced back to the range. It was first sign of weakness. Second Candle A had a nice bounce from the support but that was not enough to initiate long. When the stock is in a long term downtrend , I can't buy just on the basis of a bullish candle on a lower time frame chart. Candle B bounced from 449.50. It was huge, positive and above average volume response. OK.. we can take some risk if this trend continues but no continuation seen. I placed a sell stop order just below 449.50 along with those fellow traders who bought in candle B and placed their stops below the low of this candle. In the very next candle sell order was triggered. I placed a stop loss order just above the high of candle B. The very next candle C was scary for sellers like me, a long wicked hammer with nice volume. Although I did not had a chance to sell at the low of this hammer, I decided to trail -- remember an old saying, " Let you profits run". I trailed every 15 min. candle and got stopped quite near the low of the hammer. Although the trade looks small it was a little short of 1% the stock's value. This trades quickly turned into favor but this does not happens always. So its good to follow the trend; look for patterns and ranges and play as per convenience. Hit like if this information was interesting. Trade safe, stay healthy. Regards Bravetotrade
MEducation
by Bravetotrade
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