Static and Dynamic supportThis chart is explaining static and dynamic support.
here horizonal base line is creating as static support
and 200 EMA is creating dynamic support
arrow upside mark below 200 EMA is showing dynamic support for price
arrow upside mark below horizontal line is showing horizontal support line
click like button if you like this support tutorial
Pullback
Hacks to surviving marketsMany people who follow me would have noticed I haven't posted for a while. Did I lose the game? No. I saw this coming and I stayed put.
Don't believe me? I will add a link to a related idea.
Markets are in a precarious position and every mistake will now be an expensive one.
Here's how one can see through this period:
This type of fall can be regarded as a parabolic move. More often than not, a huge chunk of retail investors are out now and smart money is buying again. Time to get your skin in the game.
Occasional blips are fairly common. From what I read, the new COVID-19 new mutation seems to be overhyped and markets shall return to normalcy. Will markets make a new high quickly though? Probably not. Several other issues are still not solved.
A phase where bad traders/investors are weeded out from the good ones.
PULLBACK
Generally, Pullback is occur when stock price break above the resistance line and gain some percentage, but after that it take a pause and fall down to that previous resistance line which just have broken. Also that line act as a support line, because when a resistance line break that line act as a support line, most of the time.
Pullback give an opportunity to an investor or trader to enter that trade if anybody missed when breakout was occur.
BHARTIARTL at Support LevelWe can see a pull back in BHARTIARTL from current level, Risk-Reward is favoring at current level. 450-480 level is possible from current level, wait for trend reversal, on 15min time frame it has made higher however is has to sustain above 410-420 range to be in short-term uptrend.
THE CONFIRMATIONWe generally talk about breakdown and breakout confirmations. I have tried to present what confirmations actually are and how they are traded.
Some traders use indicators for confirmations, but in this post i have discussed confirmations based on price action only.
Same strategy can be used for breakouts.
Notes on the chart.
Hit like/comment for better educational posts in future.
Trade safe, stay healthy.
Best Regards
Bravetotrade