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Support and Resistance

How moving average works on chartsHello mates sharing a view How Moving Averages Work A moving average works by calculating the average price of a security over a specific period of time, and then updating that average as new price data becomes available. The purpose is to help eliminate noise (short-term price fluctuations) to provide a clearer view of the underlying trend. Types of Moving Averages Simple Moving Average (SMA) Definition: The most basic type of moving average. It is calculated by taking the arithmetic mean of a security’s price over a specified number of periods. Formula: SMA=Sum of closing prices over a periodNumber of periods SMA=Number of periodsSum of closing prices over a period​ Example: A 10-period SMA adds up the last 10 closing prices and divides by 10. As each new closing price comes in, the oldest price is dropped, and the new price is added. Use: The SMA smooths out price data and provides a basic view of the average price over the chosen period. Exponential Moving Average (EMA) Definition: A more sophisticated type of moving average that gives more weight to recent prices, making it more responsive to price changes compared to the SMA. Formula: The calculation is more complex than the SMA but it’s designed to give more emphasis on the latest price data. Use: The EMA is often preferred in volatile markets because it reacts more quickly to price movements, providing more timely signals. Weighted Moving Average (WMA) Definition: Similar to the EMA but with a simpler calculation. It assigns a specific weight to each data point, with more weight placed on the more recent prices. Use: Like the EMA, the WMA is more sensitive to recent price changes compared to the SMA. Common Periods for Moving Averages Short-Term (Fast) MAs: 9, 10, 20 periods (e.g., 10-day or 20-day SMA or EMA) Medium-Term MAs: 50 periods (e.g., 50-day SMA or EMA) Long-Term (Slow) MAs: 100, 200 periods (e.g., 200-day SMA or EMA) Key Uses of Moving Averages Trend Identification Uptrend: When the price is above the moving average, it signals an uptrend. Downtrend: When the price is below the moving average, it signals a downtrend. Sideways (Neutral) Trend: When the price moves sideways and stays close to the moving average, this indicates no clear trend. Support and Resistance Levels Moving averages can act as dynamic support and resistance levels. In an uptrend, the price might repeatedly bounce off a moving average, using it as support. In a downtrend, the moving average might act as resistance. For example, in a strong uptrend, the 50-day or 200-day moving average might act as a support level, where price tends to pull back to and then bounce up again. Crossovers (Golden and Death Crosses) Golden Cross: A bullish signal occurs when a short-term moving average (like the 50-day SMA) crosses above a long-term moving average (like the 200-day SMA). This is seen as a confirmation of an uptrend. Death Cross: A bearish signal occurs when a short-term moving average crosses below a long-term moving average. This is seen as a confirmation of a downtrend. Momentum and Buy/Sell Signals When the price crosses above a moving average: This is often considered a bullish signal, suggesting that an upward trend could be starting. When the price crosses below a moving average: This is typically a bearish signal, suggesting a potential downward trend. Smoothing Volatility By averaging out price data over a set period, moving averages help reduce the "noise" of daily price fluctuations and provide a clearer view of the overall trend. How to Use Moving Averages in Charts Plotting Moving Averages: On most charting platforms, you can easily overlay a moving average by selecting the tool from the indicators list and choosing the period (e.g., 50-day or 200-day). Adjust the Time Period: You can experiment with different time periods to adjust the sensitivity of the moving average. Shorter periods (e.g., 10-day) react faster to price changes, while longer periods (e.g., 200-day) provide a smoother, slower-moving trend line. Example of Using Moving Averages Trend Confirmation: If the price is consistently above the 50-day moving average, the market is likely in an uptrend, and you might look for buy opportunities. If the price is consistently below the 50-day moving average, the market is in a downtrend, and you might look for sell opportunities. Golden Cross (Bullish Signal): Suppose the 50-day SMA crosses above the 200-day SMA — this is the "Golden Cross," a classic signal that suggests the start of a strong uptrend. Traders may start looking for long (buy) positions. Death Cross (Bearish Signal): Conversely, if the 50-day SMA crosses below the 200-day SMA, it forms a "Death Cross," signaling a potential downtrend, and traders may look for short (sell) opportunities. Using Moving Averages as Support/Resistance: In an uptrend, the price might pull back toward the 50-day moving average and then bounce back up. This makes the 50-day MA act as a dynamic support level. In a downtrend, the price might approach the 50-day MA and then reverse downward. This makes the 50-day MA act as a resistance level.
NSE:NIFTYEducation
by MISSION_TRADING
How to draw support and resistance level on chart1. Identify the Trend Support: This is the price level where a downtrend can pause or reverse. It occurs when buyers are expected to step in and push the price upward. Resistance: This is the price level where an uptrend can pause or reverse. It occurs when sellers are expected to step in and push the price downward. Key tip: The more times the price touches a particular level and reverses, the stronger the support or resistance. 2. Locate Significant Highs and Lows Support: Look for the lowest points where the price has previously bounced. These are the bottoms where price failed to drop further. Resistance: Look for the highest points where the price has previously been unable to break through. These are the tops where price failed to rise further. Key tip: You want to find significant turning points — areas where price made a sharp reversal. 3. Use Horizontal Lines to Mark Levels Support: Draw a horizontal line along the most recent low or lows where price reversed or consolidated. This will mark the support zone. Resistance: Draw a horizontal line along the most recent high or highs where price reversed or faced rejection. This will mark the resistance zone. Key tip: You can use multiple points to validate a support or resistance level. If a price has touched and reversed at the same level multiple times, it becomes more reliable. 4. Adjust for Areas (Zones, Not Just Exact Price Points) Often, support and resistance are not exact price points but zones where price action tends to cluster. For example, if a stock often bounces between $100 and $105, you might draw a support level around $100-105 rather than at one specific price. Key tip: Consider the range of price movement around these levels. Drawing the lines as zones can provide more flexibility for trading. 5. Look for Volume Confirmation High trading volume near a support or resistance level adds strength to the level. A breakout or breakdown accompanied by high volume suggests that the level is more significant. Key tip: Pay attention to volume spikes when the price approaches key support or resistance levels. This may indicate that a breakout or breakdown is imminent. 6. Dynamic Support and Resistance These levels are not always static. Trends can create dynamic support (in uptrends) or dynamic resistance (in downtrends), where support or resistance is aligned with trendlines or moving averages. Key tip: In trending markets, you can use tools like trendlines or moving averages (like the 50-day or 200-day moving average) to spot dynamic support and resistance. 7. Check for Price Patterns Price patterns such as triangles, channels, or head-and-shoulders can also help you identify key support and resistance zones.
NSE:BANKNIFTYEducation
by MISSION_TRADING
Navigating the Bullish Surge: A Cautious Approach to InvestingThe Indian markets are experiencing an extraordinary rally, with major indices soaring to unprecedented heights. This surge is undoubtedly enticing for retail traders and investors eager to capitalize on the momentum. However, the pressing question remains: Are these elevated levels truly the right time to enter the market? Perhaps not. To gain insight, we can turn to a diagram by Dr. Jean-Paul Rodrigue that illustrates the typical stages of a market bubble. When we overlay this framework onto the current landscape of Indian indices, it becomes apparent that we may be on the brink of significant market movement—potentially in the coming weeks. History has shown us that markets can swing from euphoric bullishness to sharp corrections. Notable examples include the catastrophic crash of 2008 and the rapid declines during the COVID-19 pandemic in 2020. While we may not face declines as drastic as those events, it’s essential for retail traders to be proactive in safeguarding their investments. One effective strategy to mitigate downside risk is to consider purchasing long dated put option. A put option provides the holder with the right to sell the underlying asset without the obligation to do so. This means that if the market experiences a downturn—whether in the immediate future or after a few weeks or months—the put option can yield significant profits during a substantial decline. On the flip side, if the market continues its upward trajectory, the put option will gradually lose value and may eventually become worthless as indices continue to set new records. The key takeaway here is to keep your investment strategy straightforward and avoid unnecessary complexity. This is merely one of many strategies available for investors looking to protect their portfolios. Final Thoughts: As we navigate these exciting yet unpredictable market conditions, it’s crucial to remain vigilant and informed. While the allure of all-time highs is compelling, prudent risk management is essential for long-term success in investing. Disclaimer: All investments carry inherent market risks. This article is not a recommendation; please conduct your own analysis before making any trading or investment decisions.
NSE:NIFTYEducation
by VishalSubandh
Hathway - Inverse/Reverse Head and ShoulderCMP - 23 TGT - 42 ⚡️Disclaimer: Any of my posts should not be considered as a Buy/Sell/Hold recommendation. This analysis is for educational and learning purpose only⚡️ Description: Reverse head and shoulders chart pattern is a bullish chart which signals a potential reversal of a downtrend. It is the opposite of the head and shoulders chart pattern (which is a bearish formation) The reverse head and shoulders chart pattern consists of three (3) troughs (u-like chart formation): 1) The first is identified as Left Shoulder 2) The second and deepest is called Head 3) The Third is called Right Shoulder 4) Neckline is the zone where the price has hit a resistance and corrected multiple times (as seen in the chart) Target Measurement: Draw price range from the lowest point of the Head to the Neckline and place it at the neckline. (the points measured in the depth is target from the neckline)
NSE:HATHWAYEducation
by Imran_I_Ahmed
Alkyl Amines - Descending ChannelA descending channel is a chart pattern which indicates a downward trend in a stock price. Visually, a descending channel angles downward, from a high point to a lower point. It is drawn by connecting the lower highs and lower lows of a security's price with parallel trend lines. This should have at least 2 resistance and 2 support zones to establish a channel-like pattern Usually traders wait for a breakout to signal an entry point, which is when the stock price breaches an established channel's boundaries, either on the upper or lower side. Target - Target could be placed at a recent high, Since this type pf chart pattern may have multiple lower highs. One could look for a lower high with good consolidation. This is where most buyers would be stuck and may want to exit as soon as the stock price reaches that price. For example: Below mentioned is one such price zone. CMP 2124 TGT 3203 (50%) ⚡️Disclaimer: Any of my posts should not be considered as a Buy/Sell/Hold recommendation. This analysis is for educational and learning purpose only⚡️
NSE:ALKYLAMINEEducation
by Imran_I_Ahmed
Bajaj Hindusthan Sugar - Cup and Handle (Weekly Chart)A cup and handle pattern on a stock chart is an pattern which resembles a cup with a handle, where the cup is in the shape of a "u" and the handle has a slight downward drift or consolidation. The cup and handle is considered a bullish signal, with the right-hand side of the pattern typically experiencing lower trading volume. A cup and handle is considered a bullish signal extending an uptrend, and it is used to spot opportunities to go long. Target Measurement - The depth (which is the bottom price of the cup till neckline) is measured and placed on the neckline to get the final target Technical traders using this indicator should place a stop buy at the bottom of the handle on closing basis
NSE:BAJAJHINDEducation
by Imran_I_Ahmed
7
Only one indicator is enough to trade.Yes. ! Super trend. If we know how and where to use this indicator, you are sure about getting very good trade. It ensures 1. Low risk 2. High returns and at times real big trend So how to use it? 1. Prefer larger time frame to avoid noise. I use weekly. 2. Once super trend is green wait for pullback towards super-trend. 3. When supertrend acts as support/resistance and price reverses from nr super trend make entry. (I would wait for break of earlier week high nr super trend) 4. SL is close below super trend. (weekly close for weekly chart) 5. Try to exit far from super-trend to book profit. (Target around 15% possible on weekly) Opposite is true for shorting in down trend....! All these charts are from Nifty50 stocks Note: I am re-publishing this post as earlier post was on Nestleindia which got split and chart is not getting updated.
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NSE:MARUTIEducation
by yndesai
8
Mastering Trade Setup with simplicity of dow theorySimplifying Trade Strategies with Dow Theory Wisdom Welcome to the world of trading, where the Dow Theory can be your trusty guide. Let's break down an easy trade strategy that suits different market situations. Dow Theory Insights Dow Theory, a key tool in technical analysis, says understanding trends is crucial. Figuring out the trend is where we start, setting the stage for smart trade decisions. Bullish View If we're feeling positive Higher Lows: Check if prices keep going up. Near Support: Make sure prices are close to a support zone. Reversal Signs: Look for any candle patterns signaling a turnaround. Buying Setup: Stoploss: Think of it like a safety net, set it at the recent lowest point. Execute a buy trade when these factors line up, always keeping an eye on that stoploss. Bearish View If we're feeling negative Lower Highs: Check if prices keep going down. Near Resistance: Make sure prices are close to a resistance zone. Reversal Hints: Look for any candle patterns signaling a potential shift. Selling Setup: Stoploss: Your safety measure, set it at the recent highest point. Execute a sell trade when these conditions come together, always mindful of that stoploss. Sideways View For a market that's just hanging out Draw Lines: Sketch lines above and below the current prices (Support and Resistence Trendlines) Be Patient: Hang tight until prices break above or below those lines. Only jump into a trade when the market decides where it's going. In the lively world of trading, Dow Theory keeps us wise. By using these strategies, along with clever stoploss placements, you can navigate the markets with ease This post is for educational purposes only. Trading involves risk, and past performance is not indicative of future results. Always do your research and consider consulting a financial advisor before making any investment decisions. I am not sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses. Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Hope this post is helpful to community Thanks RK💕 Disclaimer and Risk Warning. The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
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NSE:NIFTYEducation
by RK_Chaarts
25
What is Price Action ? Beginners Guide in Easy Steps NSE:NIFTY What is Price Action Really? When I started learning I was using a lot of indicators and crap but then I heard about Price action, its meaning is pretty vague and confusing after a lot of effort I get to know that the simplest things work best. Let's see a structured way to approach Price Action analysis. 1. Chart Reading Bar by Bar. Studying the Previous candle reflects a lot of important information on the market movement and future direction. 2. Reading the Context and the whole Structure. *The circles marked on the chart show the best location where certain candlestick formation offers good trading opportunities. *The reading chart in the overall structure helps to eliminate taking trades in the direction of exhausted trends. 3. Identifying Momentum Increase or decrease. 4. Adding Volume Confirmations. Volume is the better half of price and without volume analysis can be incomplete. These are some of the factors that start the price action analysis. By practice, one can look into the deeper significance of these factors and use them easily. I hope this has added some new value to your knowledge, if you like these educational ideas, Share your views and like. Will Upload the Next Part with more factors. Keep Learning, Happy Trading.
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NSE:NIFTYEducation
by SANJAYPATIDAR_
18
Concept Of Support and Resistance & Roles ExchangeDefination Of Support and Resistance levels-: The support and resistance (S&R) are specific price points on a chart expected to attract the maximum amount of either buying or selling. The support price is a price at which one can expect more buyers than sellers. Likewise, the resistance price is a price at which one can expect more sellers than buyers. Particular defination-: Resistance As the name suggests, resistance is something which stops the price from rising further. The resistance level is a price point on the chart where traders expect maximum supply (in terms of selling) for the stock/index. The resistance level is always above the current market price. The likelihood of the price rising to the resistance level, consolidating, absorbing all the supply, and declining is high. The resistance is one of the critical technical analysis tools which market participants look at in a rising market. The resistance often acts as a trigger to sell. Support understanding the support level should be quite simple and intuitive. As the name suggests, support is something that prevents the price from falling further. The support level is a price point on the chart where the trader expects maximum demand (in terms of buying) coming into the stock/index. Whenever the price falls to the support line, it is likely to bounce back. The support level is always below the current market price. Reliability of S&R The support and resistance lines are only indicative of a possible reversal of prices. They by no means should be taken for ascertain. Like anything else in technical analysis, one should weigh the possibility of an event occurring (based on patterns) in terms of probability. Key takeaways from this chapter 1-S&R are price points on the chart 2-Support is a price point below the current market price that indicate buying interest. 3-Resistance is a price point above the current market price that indicate selling interest. 4-To identify S&R, place a horizontal line in such a way that it connects at least 3 price action zones, well-spaced in time. The more number of price action zones (well spaced in time) the horizontal line connects, the stronger is S&R 5-S&R can be used to identify targets for the trade. For a long trade, look for the immediate resistance level as the target. For a short trade, look for the immediate support level as the target. 6-Lastly, comply with the checklist for optimal trading results How support and resistance changes their roles-: If the price falls below a support level, that level will become resistance. If the price rises above a resistance level, it will often become support. As the price moves past a level of support or resistance, it is thought that supply and demand has shifted, causing the breached level to reverse its role. Examples by Snapshots-: Support become Resistance Resistance become Support Conclusion Technical analysis is one approach of attempting to determine the future price of a security or market. Some investors may use fundamental analysis and technical analysis together; they’ll use fundamental analysis to determine what to buy and technical analysis to determine when to buy. Don’t forget that technical analysis is not an exact science and it is subject to interpretation. If you continue your study of technical analysis, you’ll likely hear someone say it is more of an art than a science. As with any discipline, it takes work and dedication to become adept at it. Best Regards- Amit rajan
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NSE:NIFTYEducation
by AMIT-RAJAN
13
How to use 30 Min High & Low First Candle by HSBHow to use 30 Min High & Low First Candle by HSB This Indicator is designed to trade breakouts within a custom trading session. When the price crosses above the session's high line, it enters a long position with a stop loss at the session's low line. The script also provides options to customize the appearance of the chart, including displaying session lines and extending them if desired. Before using this script for live trading, make sure to thoroughly backtest it and consider any modifications or improvements based on your specific trading requirements and risk tolerance.
NSE:BANKBARODAEducation
by harvinderSBrar
1
What is IMBALANCE in the MARKET ? How to TRADE ?What is IMBALANCE in the MARKET ? How to TRADE ? Imbalance also known as Price Inefficiency is a key factor in Stock market price action Trading. Look for any candle which has a full body and look for the part of the candle that isn't overlapped by the previous and next candles' wicks. This signifies an imbalance in the market because there were few transactions going on between buyers and sellers. How to Find? In order to find imbalances, it consists of 3 candles. In a Bullish Scenario, It is where there is a gap between the top wick of the first candle & the bottom wick of the third candle do not meet. Wise versa for Bearish scenario. How do you trade with imbalance? Investors can protect themselves against the volatile price changes that can arise from imbalances by using limit orders when placing trades, rather than market orders. As each trading day draws to a close, imbalances of orders can arise as investors race to lock in shares near the closing price. Untouched Imbalance level? When price moves in one direction without filling the imbalance, mostly it tends to come back and fill the gap. Until then price wont go up/down much. Basically It will act as a magnet for the price. So Always find the imbalance areas which is a strong Demand and Supply zone for good trades and predict the market.
NSE:NIFTYEducation
by ViVenTraders
What makes a Resistance Potential OneResistance and support are faces of a same coin the concept is same , if price reverses its direction after getting closer to a particular level or zone we call it resistance or support level or zone. When you start learning about it more you will find that it is the most basic approach to analyze a price action, then you mix it up with trend line which is again nothing but a tilted support and resistances, concept is same. Trading such levels & zone require an approach where you can benefit maximum from the upcoming move and the trade you take should have the potential to give you a good risk to reward ratio. If you see, resistance and support are everyday happenings , they occurs so much times that taking a bet on every setup will make our trading random ,so filtering those blurry , OK-ok, less potential setup is very very important . --------------------- Here I am giving you some of my observation over filtering such setups. First do not try to make support and resistance everywhere , try to avoid making inside a range , can only make such resistances and support if they form on a large time frame or over a long period. This will filter out your 40% setups. Second Let the support and resistance test 3 or more touches , when price behaves in an ideal way more than three times the level or zone become very crucial and price can tend to give you a big and sharp rally (see the direction still can be any side as it is not always breakdown it can also be a big reversal). Third See the overall trend and recent price pattern , better if the setup is in order to the overall trend, reversals should also be in sync with overall trend as in this USD/INR chart the overall trend is bullish & the pattern is a bullish flag which is again a bullish one. Fourth Volume formation when price reaches to a support or resistance if a spike in volume is there then you can say a big players is also betting on those levels or zones in big quantity (note : they betting in which direction you can't guess like that). You can take entry at breakout and make your stop loss at the support simple....
Education
by TRADEWITHFUN247
what is The symmetrical triangle patternThe symmetrical triangle pattern is a technical analysis chart pattern that forms when the price of an asset is moving within a range, with the highs and lows converging towards each other. it is characterized by two trend lines that converge toward each other, forming a triangle. It is confirmed when the price breaks out of the triangle, either above the upper trend line (bullish) or below the lower trend line (bearish). Traders often look for a price target that is equal to the height of the triangle at its widest point, projected in the direction of the breakout. The symmetrical triangle pattern can be a reliable indicator of future price movement, but it should be used in conjunction with other technical analysis tools and market indicators. one can support the work by simply following BACTIFY and sharing the same with their friends all the best and happy trading
NSE:BPCLEducation
by pratik2358
Learn Bullish technical analysis pattern called DOUBLE BOTTOM The double bottom pattern is a bullish reversal pattern that occurs after a downtrend. It consists of two consecutive troughs of roughly equal price, with a peak in between. The pattern is confirmed when the price breaks above the peak with higher-than-average trading volume. Traders use the pattern to project a target price for the breakout. Traders may enter long positions in anticipation of the breakout. The pattern should be used with other indicators and analysis to confirm its validity.
NSE:NAVINFLUOREducation
by pratik2358
lets understand support and resistance in detail support and resistance they play a truly crucial role in trading If you want to trade like a pro, there's something you should know: Support and resistance, they're the stars of the show! this can be understood from the below:- Support is like a floor, it holds prices up high, Resistance is a ceiling, prices can't seem to fly. When prices hit support, they tend to bounce back, And when they reach resistance, they often lose track. These levels are key, they're a trader's best friend, They help you to enter, exit, and defend. So pay attention to support and resistance, my friend, They'll help you make profits and trade till the end! volume confirmation along with breakouts are beautiful
NSE:ANURASEducation
by pratik2358
How to know that a double top or bottom will failHello Everyone as you can see here we have made two lines at the top and two lines at the bottom of the same height and you can see how it worked very well and told you very early that where it could be down and have to be cautious but it doesn't mean that everytime you find something like this you should be cautious at there and ready to exit and take the profit. Hope you get something new to learn if than pls like and follow us thanks bye.
NSE:PELEducation
by MAYANKTECHRESEARCHING
6
NIFTY IS AT CRUCIAL LEVEL, Support Become Resistance NowIt is important to check swing lows and swing highs for analysing prices for short term trading, this concept of price which tells us that the support becomes resistance after breakdown, can be understood by this chart analysis. But why this happens ? See we often use this concept in our daily trading the logic behind such pattern and price behaviour lies in the crowd psychology when anyone buy a stock he sees the recent swing low and thinks that what if I bought here I would be sitting in a profit of this and that, he may also put a stop loss below the swing low. This is the most common think a trader does. Because he thinks prices should not trade below this low. Swing highs or lows are those points where either buyers exhausted (in case of swing high) or sellers ( in case of swing lows) , so such price zone deeply affect the crowd decision making when price again trade at those levels, either buyer start leading over sellers or sellers punch out the buyers , these are turning points. That is why we see a sharp breakout or a sharp reversal. We can benefit from such behaviour as we know something is going to happen so 1) keep an alert by using TradingView Alert 2) As you get an alert see price action on those zones, trading on such crucial spot results in a good risk to reward situation. Note : Prices are random and sideways most of the time, if you have a way to filter those times where prices probably not behave randomly than it gave an edge over your trading.
NSE:NIFTYEducation
by BusyBhai
1
How to play potential level breakout (From my latest trade)Steps 1) Identify potential breakout zones , crucial supports , resistances ,trend line , Patters like (triangle , rectangle , consolidation ) TATA POWER other examples UJJIVAN ADANIENT BTCUSD BANKNIFTY 2) Wait for breakout "do not enter just seeing the breakout " ,watch carefully the volumes , then wait for a price to retest the level. Many times when the prices make a crucial level , big players tend to exhaust this opportunity and fools us by fake breakout you can see my UJJIVAN idea in the links below. 3) when in price retest and start moving up then enter above just high of recent up swing and keep sl at the low of latest down swing. This three steps are most effective approach for playing out the breakouts.
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NSE:TATAPOWEREducation
by TRADEWITHFUN247
18
Using the Moving Averages and RSI to optimize buying processIn this chart I have explained my rationale using Moving averages, relative strength and RSI to initiate a buy on this scrip. I always use a weekly chart to check for overall trend and analysis and based on it will initiate a buy on a Daily chart. Explanations are given on the chart. The idea is get the maximum conditions in our favour for a profitable trade. Hope it will be helpful. Another important thing is to always define a stop loss if the trade does not go according to plan.
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TEducation
by TheUnlearningOne
25