95% TRADER TRADE WHAT YOU SEE ON THE LEFT SIDE. THE PERSON READING THIS , YES YOU ! You have also traded like the 95% retailers havent you and at some point you realise that it isnt working for you!
Smart money lies with the 5% , but you never realise that !
SMALL SHORT TRADE
SALE @ 835
STOP ABOVE 861
T1 - 828
T2 - 822
DOUBLE TOP FORMATION
TRADE TAKEN OUT BASED ON
INSIDE BAR BREAKOUT + DOUBLE TOP NECKLINE BREAKOUT
disclaimer - trade @ own risk
CADILAHC on the daily time frame has created an interesting setup. As per my 3 Rivers System, the stock is in an UP trend and has entered the lower edge of the River. Herein strong supports from (410-415) kicks in which has earlier worked as a strong source of support & resistance. Essentially the stock is at valid supports.
Now add on two more elements - an...
Now this is an interesting chart wherein I have highlighted three theoretically bullish patterns.
Highlight # 1 and 2 are both Bullish Harami pattern wherein #1 lacks the existence of a well-defined down trend. Comparatively #2 was better off with an erstwhile decent sized down trend. Did not play out that well as we do not notice any bounce back.
Now we have...
1) broke the trendline
2) Prior candle is a Big red red candle (formed after a doji)
Take short position only if it breaks below 110.80 (Low of the big red candle)
Tgt: 103.5 (200 SMA)
SL: 114.5 (Above the inside candle)
Nifty continues to consolidate and show respect to the over-head zone of resistance. An Inside Bar after today’s close will definitely encourage contrarian traders to take a short position below today’s low. Now that will be a pretty risky bet for which the immediate levels to watch for on the downside will be at (11,780-11,800). If you go short, please be agile...
Century Textiles - Risk-Reward Ratio 1: 4.80
Long Above 345
Century textiles broke out of a symmetrical triangle recently. It formed an Inside Bar today after a strong up move yesterday.
Two or more up days prior to inside days or bar increases the probability of upward momentum to continue after a breakout.
Trading With Inside Bars...