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Heikinashi

Positional Trade Setup in Granules "Ek Onkar" Hello Traders, We see a healthy correction of 30% in Granules. After the phase of correction the price is consolidating around the moving averages of 20, 50, 100 and 200 levels. Now the arrangement of the lines of moving averages indicates the start of a Bull run. Potentially the price has a strength to move 20 to 30% from these levels in 5 to 6 months. But I prefer to trade based on the technical data. Technical data is as follows: Chart Type - Heikin Ashi Time Frame - Weekly Trade Type - Positional (8 to 10 weeks) Correction - High 381 / Low 267.75 30% correction from Oct22 to Mar23 Fib Retracement - 61.80% level 334.10 (Important level for breakout) LTP - 311.10 20ema - 300.80 50ema - 302.49 100ema - 300.77 200ema - 274.69 in.tradingview.com Note: The price is trading above all the moving averages. We have a green bullish HA candle followed by a doji candle at the low of a bearish trend. Trade Setup: Wait for the breakout of 334.10 From these levels the price will try to test its recent high of 381. Potentially the price has a strength to move 20 to 30% from these levels in 5 to 6 months but we follow the trend analysis. Other updates will be updated in the update section of the post. This is my pre market analysis and my trading journal. Not a suggestion to buy or sell. This material is only for educational purposes. Thanks Sardar Simranjit Singh Virdi
NSE:GRANULES
by ssvirdi
2
Nifty Oil and Gas sector indicates start of an uptrend.The Nifty Oil and Gas sector looks bullish on daily charts. Daily Chart This week we see the weakness in the momentum when we have a negative HA candle with a strong body on the 13th of September. Now the momentum tried to recover from the weakness with 2 green HA candles. But both of these candles have a weak body. Weekly Chart The price looks bullish on the weekly Chart. Conclusion: The price will continue to move in the uptrend. Thanks Simranjit Singh Virdi
N
by ssvirdi
Dabur indicates the start of a uptrendChart type - Heikin Ashi Time frame - Weekly Indicators Used: 1. Moving Averages 2. Fibonacci Retracement: Marked by Swing Low of 503 and Swing High of 597 Analysis Notes: 1. The price has successfully tested the retracement level of 50% which is at 548. Now the price has given the breakout of its retracement level of 38.20%. 2. The moving averages didn't breakdown the retracement level of 38.20%. 3. A green HA candle momentum candle also gives a closing above the moving averages. Resistance - 573.70 (23.60% retracement level) Price Prediction: If the price holds the levels of 575 then it will test the levels of 600 Note: Daily chart works best for entry and exit in positional trades. Disclaimer: This is my pre market analysis and my trading journal. Not a suggestion to buy or sell. The material here is purely for educational purposes. Thanks Sardar Simranjit Singh Virdi
NSE:DABURLong
by ssvirdi
Analysis of Nifty Energy Weekly Chart by Heikin Ashi and Renko The energy index looks bullish on weekly charts as there are no signs of weakness. As the Heikin Ashi chart has been making green candles also the structure of the chart is good. The overall feel of the chart is good. On daily charts the price is on the bottom of parallel channel and on the same pivots. Renko is also making a green brick. The stock may face high volatility on lower time frames. But from these levels the downside is less.
NSE:CNXENERGY
by ssvirdi
Banknifty Daily ChartTrade Setup Short October Futures from the pullback level or current level. High Volatility Candlestick Chart 25% move from 32290 (17 Jun 2022) to 39759 (19 Aug 2022) If we draw Fibonacci retracement for the same level then the 38.20% level comes at 36906.40. Macd - Bearish Crossover Renko Chart Fake breakout of resistance at the level of 39011 and starts traded below the level. Red bricks start appearing. Heikin Ashi Chart A long red candle is formed. All recent lows are broken by this candle. Conclustion If the price starts its downward move, then it will test the levels of 36906.
NSE:BANKNIFTYShort
by ssvirdi
Heikin Ashi Charts vs. Candlestick ChartsFollowing price action is at the core of markets. One glance at a chart can show you a trend, trade idea, or serve as a quick way to check the holdings in your portfolio. Candlestick charts are one of the most popular ways to look at price action. A single candlestick shows the high, low, open, and close for a specific time period. This means that a lot of price information is stored in a single candlestick . However, sometimes, that price information is filled with volatility or chaotic trading. That's where Heikin Ashi charts are most useful - they smooth out the price by showing an average price range rather than the exact measurements. In fact, Heikin Ashi charts were developed in Japan and the word Heikin means “average” in Japanese . For those who invest over long-term horizons or look for sustainable trends, Heikin Ashi charts can be an effective way to smooth out price and show clearer trends. The key to understanding Heikin-Ashi charts is to remember that each bar, whether it's red or green, shows an average price range for a specific time period whereas a candlestick chart shows the exact price levels for that time period. The formula for a Heikin Ashi looks like this: Open = (Previous bar open + previous bar close) / 2 Close = (Open + High + Low + Close) / 4 High = Highest point whether it's the open, high, low or close Low = Lowest point whether it's the open, high, low or close Make sure to test out these two different chart types and have some fun. There is no better way to learn than to compare and contrast the two types of charts as we are doing in this example. Remember, it is also about your personal preference. Do you want to see every granular detail in price action? Or do you want to see an average price of that trading action? This is entirely up to you and the tools are here for you to try. NOTE While Heikin Ashi and other non-standard charts can be useful to analyze markets, they should not be used to backtest strategies or issue trade orders, as their prices are synthetic and do not reflect bid/ask levels at exchanges or brokers. If you need more information to understand why that is, have a look at these publications:  • In the Help Center: Strategy produces unrealistic results on non-standard chart types (Heikin Ashi, Renko, etc.)  • From PineCoders: Backtesting on Non-Standard Charts: Caution! Thanks for reading and please leave any comments or questions if you have them! Comment : P.S. Someone asked how they can select Heikin Ashi. Click the dropdown at the top of your chart where it currently shows either your Candlestick or Line chart options. Then select Heikin Ashi from the dropdown menu.
Education
by TradingView
2