Unless the short triggers, it is ongoing long trade.
It is not "Short below PDL break" like usual !! Read Why -
1. "Just" Immediate line break i.e. Candle close below PDL will not trigger sell as it resisted the breakdown too many times.
2. So it needs to do something which it did not do before.
3. One is - The candle body has to close below the S1 line.
As per the charts.
One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells at "where" to act in "what direction. Unless it triggers, like, let's say the candle doesn't break the level which says "Buy if it breaks", You should not buy at all.
I use shorthands for my...
1. Apollo tyer in weekly chart break-out tringle pattern.
2. Weekly RSI closing above 55.
3. Weekly RSI greater then Monthly RSI .
STOP LOSS for this trade
1. if goes down by 8% from over buying level then we exit from the trade.
2. if Weekly RSI close below 45 then also we close this position.
Happy Dussehra Everyone.
This is a kangaroo stock trying to make another hop.
Let's catch his jump this time.
Keep your stop loss small.
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While the price is below the resistance 26.20, beginning of downtrend is expected.
We make sure when the support at 19.65 breaks.
If the resistance at 26.20 is broken, the short-term forecast -beginning of downtrend- will be invalid.
The RSI downtrend #1 is broken, so the probability of beginning of downtrend is...
1. Major resistance line break on weekly TF
2. High of February 2020 (COVID fall) broken
3. Purely bullish chart setup
4. Relative strength crossing 0 line
if you’ve questions regarding holding period &/or SL, DM me on twitter
Since Starting of year 2009, SBIN trading in broader range of 350-150. In this zone it has created 3 Major Levels
1) Support Level
2) Middle Level
3) Resistance Level
1) Support Level: Journey started from July 2009 when SBIN took support at its previous Swing High of 150 Zone. After that it became such an important level where it works as Support for another...
I hope you can now see how Biocon represents an excellent low risk profit entry setup allowing you to trade in the market.Take positions so that the risk/reward is in your favor.
Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis .
Disclaimer: It should not be assumed...