Support and Resistance
FINDING POTENTIAL SUPPORTMETROPOLIS COMPLETED 5 IMPULSIVE WAVE ON MINOR DEGREE FOLLOWING WHICH IT IS CORRECTING RIGHT NOW.POINT IS WHERE IT WILL END AS STOCK IS IN CLEAR UPTREND AND GETTING LONG IS IDEAL TRADE ON THIS STOCK TO TAKE AS WAVE 3 OF INTERMEDIATE WILL BE STIPPER AND RAPID.
PRICE ZONE OF 2227-2211 CAN ACT AS GOOD SUPPORT REASON'S ARE AS FOLLOWS
1)PREVIOUS MULTIPLE HIGH'S WHICH ACTED AS RASISTANCE CAN NOW ACT AS SUPPORT WHICH COMES NEAR THE MENTIONED PRICE ON CLOSING BASIS.
2)50% RETRACEMENT OF ENTIRE SWING COMES@2227(WAVE 1),WHICH IS WHERE GENERALLY WAVE 2 CORRECTION END.
3)TODAY'S HIGH WHICH BRIEFLY CROSS 62% RETRACEMENT OF WAVE A@2509,REVERSED MEANING WE ARE DONE WITH WAVE B AND WAVE C PROJECTION OF 123.6% WAVE A FROM TODAY'S HIGH COMES @ 2211.
ONE SHOULD LOOK FOR A BULLISH CANDLE IF PRICE COMES BETWEEN 2227-2211 ZONE.IF WE ALSO GET GOOD VOLUMES ALONG WITH BULLISH CANDLE IN THIS ZONE THAN THAT WOULD BE ADDITIONAL CONFIRMATION.
ICICI BANK at support zoneIn prices earlier resistance becomes a support.
Note: Price will not exactly take suport and resistance so zones form. It this chart Price take support at the zone.
My personal view is that ,stock is in an uptrend so at this point of time we should watch it carefully and wait for weekly close ,it will decide whether it get set for up or down move.
Stair Steps Pattern | ULTRACEMCO 🎯The stair steps pattern overview
The stair steps pattern forms along with the trend .It shows an uptrend where the price rises and falls abruptly. The graph reminds the stairs, thus a name of the pattern
In the uptrend, you may notice long consecutive bullish candles. Then, the price adjustment takes place and the cycle starts all over again. The price correction areas create new levels of resistance which soon will be broken again so the uptrend continues.
Best of luck!
IRON FLY STRATEGY FOR NIFTY 10 MAR EXPIRYIron Fly is a non directional strategy that works very well in a sideways market. I was of the view that the market would be sideways for the reasons mentioned in the video. This worked very well for the weekly expiry and it is used very often in confusing markets such as this.
This was one of my first attempts at vocally explaining strategies so I may not have been as clear in the details.
Let me know if you have any questions about this strategy in the comments. Please LIKE if you would want to see more content like this. :)
[Educational] IRCTC Rounding Bottom Pattern Intraday AnalysisIn today's session, IRCTC has given a breakout of rounding bottom pattern. After this breakout, This stock gives quickly our projected initial target is 1750+ which is the height of rounding bottom pattern.
Traded position:
Buy Entry IRCTC at 1700-1710
Stop-loss 1680
Initial Target- 1750(1:2.5 risk reward)
Nifty 50 Bullish Reversal Harmonic Pattern Nifty 50 in its all-time high and has started a sideways movement which has supported by Shark harmonic pattern in the hourly chart.
The expected move could be until D point i.e. 12878 to 13010 level downwards. We can find quality support on that price point.
Please create your strategy accoudingly.
CholaFIn - Restistance BreakThe previous Resistance broke for chola finance, looks bullish. at the new highs.
If you want to take risk, invest on Monday after 9:30 for swing trade,
conservative one can wait to check if stock want to test by pulling back and reverse, buy at dip.
SL can be 380/362/350
Credit: Trade with Trend (YT chann NSE:CHOLAFIN el)
Price-Volume DivergenceMy take on price and volume divergence. Ideally, the price should move higher with an increase in volume, which shows that more buyers are pushing the price higher and this is a perfect scenario for the price to continuously rise higher. But, when the price continues moving higher while volume is drying, it shows that buyers aren't interested to push the prices higher. This scenario makes it easier for sellers to step in and increase the supply to drag the prices lower. Such analysis should be supported by price analysis to improve the probability. Also, the news would be a great catalyst. Currently, EURUSD has rallied continuously for quite long and a correction might take place. This post is for educational purposes. If you have any query, comment below and I will respond to it. Also, if you liked my analysis then simply click the like button
Thank you and grateful for every one of you! Wishing everyone a happy new year as well as a profitable trading year!
Education material only with support & resistancesPrice is well above the MA Looks bullish until it falls below the resistance trend line and could reach the support trend line.
Note: Volume is significantly lower may trigger price fall
Learning about Exponential Moving AverageEMA full form is *Exponential moving average*. you can google this for detailed explaination and formula.
I use 30 week EMA for my stoploss that means, the length chosen is last 30 week on weekly timeframe.
if you are using daily timeframe you can use 150 Day EMA (as 5 working days for week * 3o weeks).
NOTE- The length choosen is not an fix and not compulsory for use. i use this length from trader whom i follow. Try and backtest different lengths (EX. on weekly-12,30,40 and on daily-21,50,150,200) use which suits your style and pace
TO SET EMA ON YOUR CHART- choose Timeframe as W (week)
1. Go to indicator and strategies on top of chart
2. search Exponential moving average select first inbuilt option
3. Set length as 30 click OK.
Now you are ready to use.
Elliot Wave Projection of Eicher MotorsA possible projection of Elliot Wave for Eicher Motor stock.
Stock is making impulse wave expecting it to break all time high.
Just for educational purpose.
DISCLAIMER:There is no guarantee of profits or no exceptions from losses. The investment advice provided is solely the personal views of my research. You are advised to rely on your judgement while investing/Trading decisions. Past performance is not an indicator of future returns. Investment is subject to market risks. Seek help of your financial advisor before investing/trading.
I may or may not trade this analysis
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You will never be the same after watching this trading secretYou will never be the same after watching this trading secret.learn to mark important support and resistance.
Educational - When to use stochastic indicatorUse stochastic indicator when the stock is in range, inside a channel (paralle,ascending,descending). To be used for swing trading is the safest way to utilize stochastic.
Thanking Subhag Ghosh for motivating to make such a post.
Bitcoin FractalFractal
Since August, fractal similar to May month is forming. This fractal is of 3 months (May to July) length and repeats after 3 month (August to October). Fractal holds similarities in price action like continuous rise in price for days, sudden big price fall, low and high in pattern are at same arrangement. This same pattern follows from October onwards.
Support:
Parabola formed becomes resistance to fractal after which price reverse back but now this parabola is broken and now this acts as a support.
Previous Zone between 13000 to 14000 is another big support level.
100 Daily MA had been support for both May and August, so it is a possible support. I have extended MA 100 line expecting such formation.
Their is one possibilty that BTC will keep moving along resistance and will bounce up wherever fractal had pumps.
Invalid:
This fractal could fail if BTC keeps on moving up breaking resistance.
Nifty Elliot Wave analysis 11-11-2020 Still Some Upmove pendigDISCLAIMER:There is no guarantee of profits nor exceptions from losses.
Technical analysis provided on the chart is solely the personal views of my research.
You are advised to rely on your own judgments while taking any investing/Trading decisions.
Past performance is not an indicator of future returns. Investment/trading is subject to market risks.
Seek help of your financial advisors before investing/trading.
I may or may not trade this analysis. Details in description.
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ApolloTyre Nice Weekly RSI Setup
Nice Volume Setup
Crucial Supply Zone
Will Take Entry on 160 DCB
Stop Loss 152 DCB
This for my Personal Education Purpose Not for Trading
Tata Steel for my self Education Purpose Only Just for my self Educational Purpose not for trading or investment for other
If Hold above 410 WCB ........... Next Target would be 440 and than 480
Stop 390 WCB
Can Sustain 400 to 440 for atlest 45 days
PERSISTENT on Weekly Chart PERSISTENT on Weekly Chart broke the 1200 WCB Support
now next Support at 1100 and 1000
If Hold 1250 at WCB Next Target would be 1580
Tech M Range bound till this year
if break all time high in this month with volume support then Target will 920
for myself study purpose not for trading
