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Support and Resistance Part 1A support and resistance level is simply a level in a market at which traders find a price to be overvalued or undervalued depending on current market dynamics. This creates a level in the market that can act as support or resistance depending on various factors surrounding each currency. When it comes to charting support and resistance levels, keep it tidy and focus on the levels closest to your current price action. If you start scribbling levels all over the place, your chart will look like a toddler’s doodle, and you’ll lose track of which levels to keep an eye on and which ones carry more weight. Support Zones: Rather than a precise price point, support is usually identified as a price zone. Within this zone, numerous market participants often place their buy orders. And a resistance level is a point where it’s likely to stop rising and start falling – these are always located ABOVE the current price.
NSE:BANKNIFTYEducation
by SkyTradingZone
6
Identical patterns in Godfrey Phillips and Swan EnergyI showcase two identical patterns in Godfrey Phillips and Swan Energy in this video. I had previously traded Swan Energy, and because I journal my trades, I remembered its price action when I spotted the same setup in Godfrey Phillips. This is the power of journaling! By maintaining a trading journal, you track your profits and losses and improve your ability to recognize repeating patterns and backtest data effectively. Do you maintain a trading journal? Let me know in the comments!
NSE:GODFRYPHLPLong
by Averoy_Apoorv_Analysis
Option Chain AnalysisUnderstanding Option Chain Analysis An option chain is a matrix consisting of all available contracts for investors. Option chains are available for individual stocks and market indices like NIFTY 50 and NIFTY 500. You can select a stock or a market index and find all available options through an option chain. The 9.20 short straddle strategy involves selling a call and a put option at the same strike price at 9:20 AM in Indian markets, aiming to capitalize on time decay and volatility.
NSE:NIFTYEducation
by Optionclub
MACD Divergence TradingMoving average convergence/divergence (MACD) is a technical indicator to help investors identify entry points for buying or selling. The MACD line is calculated by subtracting the 26-period exponential moving average (EMA) from the 12-period EMA. The signal line is a nine-period EMA of the MACD line. The indicator is calculated by subtracting a 26-period Exponential Moving Average from the 12-period moving average. There is also a histogram available on the indicator which can also be used as a divergence indicator. As a result, you will then see the MACD line, which shows as an indicator below the price chart.
INDEX:BTCUSDEducation
by SkyTradingZone
Advanced Option TradingWhen options are better. Options can be a better choice when you want to limit risk to a certain amount. Options can allow you to earn a stock-like return while investing less money, so they can be a way to limit your risk within certain bounds. Options can be a useful strategy when you're an advanced investor. Yes, profits from intraday trading are considered business income and taxed according to your income tax slab. How is intraday trading taxed? Intraday trading profits are treated as short-term capital gains, added to taxable income, and taxed based on applicable slab rates.
NSE:NIFTYEducation
by SkyTradingZone
3
Profitable Trading The defining feature of day trading is that traders do not hold positions overnight; instead, they seek to profit from short-term price movements occurring during the trading session.It can be considered one of the most profitable trading methods available to investors. The Rule of 90 is a grim statistic that serves as a sobering reminder of the difficulty of trading. According to this rule, 90% of novice traders will experience significant losses within their first 90 days of trading, ultimately wiping out 90% of their initial capital.
NSE:KOTAKBANKEducation
by SkyTradingZone
3