Really can take Dixon for long entry?Long Dixon at the bullish movement. Both entry points have been shown. Trade as per risk to reward.
Scenario 1 - Can take an aggressive entry if a good setup is seen in the lower time frame? Pros- Can catch the bullish move at Breakout? Cons- Can BO be failed?
Scenario 2. Can take a pull-back entry if a good setup is seen above the support area? Pros- Can be a nice entry point with good to-risk reward? Cons- Can the price never reach the support area?
Please read carefully the above points & make your strategy accordingly. These types of plans are essential to catch a good move. The pro trader has kept all types of strategies as per the market conditions.
This is for your educational purpose only.
Tradingrange
Bear flag in XAUUSD (gold)As we can clearly see a bear flag pattern in 2 hr time frame .Here we will get the good trade in the terms of risk and reward in both the directions just after the breakout or Breakdown of the consolidation phase in either direction. I am more confident towards the shorting side as compared to the long side just because of the short term negative sentiments of the market.
Manage proper risk reward/position size
Happy learning...
NIFTY INTRADAY SET-UPMaybe tomorrow nifty trading between this range 17900 to 17600.
highest call oi 18000 ,It act as a major resistance .
Hghest put oi 17500,It act as a major support
17700 is a crucial range ,It holds both put and call OI .
PCR,0.6 VOLUME PCR,0.9 .Maybe tomorrow we expect slightly Sideways BEARISH TREND.
Tomorrow RBI meeting will be held at 10 AM .
NIFTY IN A TRADING RANGEin.tradingview.com Negatives -
We are underperfoming the global markets.
Gap up openings are getting sold out.
Positives -
Bank Nifty is near the 50 DMA / key support levels so we can reverse from here.
Today down move was more of expiry related
No worry as far as corona is concerned in the global markets.
Global markets have already confirmed these levels as bottom & they are reversing.
Analysis :
Nifty could not sustain the 18200 levels and went marginally lower.
This whole range of 18000 - 18200 is a key support area.
Option chain confirms 18200 as major resistance & 18000 as major support.
NIFTY AT MAJOR SUPPORTNifty at major support of 50 DMA & higher low of the channel.
High chances that nifty would hold this levels and move higher from the current levels.
Any drop from these levels can take nifty down to 17800 levels.
These levels should be watched for any upmove / downmove.
Cheers,
priceNpedia
NIFTY IT NIFTY IT is trading in a range and after a significant fall the price has been consolidating in a range.
Todays candle shows a strong bullish engulfing which signals a reversal.
TCS results have been good so it should have a impact as well in coming days.
Mindtree & Coforge are looking good in IT Sector.
Nifty Hourly chart Ranges GaloreThis is a hellish market to trade for directional index traders since past few weeks now. Views and opinions have to be revised frequently as Nifty has been forming one range after the another. However all this dull activity whether accumulation or consolidation is building cause for some good trend to develop in the market, just need to analyze price action and participate in those phases, taking help of some additional tools like OI analysis, keeping tab on news flow and global economic situation etc.
Have marked some key levels which are going to be important in the days to come. Always be on the lookout for wide range bars with high volumes to gather further clues about the market direction.
Also track Nifty wrt 50 MA and 200 MA.
Hope we see a trend develop soon!
BEST PLACES TO LOOK FOR HIGH PROBABILITY TRADESHere are a few setups that I use in my day to day trading. They work well in all the timeframes and in all types of markets.
I am only showing bullish scenarios due to space constraint but one may also look for bearish scenarios which work in the same manner. Like Down trendline or Downward sloping channel; downward sloping MA; breakdown of a range; and price retracement back up to 50% of the down move.
Sometimes these setups also work in collaboration with each other. Like price pulls back to the MA and this level also coincides with a potential support zone or this level is also the 50% retracement of the prior up move. In these cases the trading opportunity will have very high probability to make money.
Are you still thinking that what patterns to look for at those places to take trades?
Please refer my previous idea tagged to this post. Just look for those candlestick patterns as your trigger and you are good to go.
I hope this post will add to your knowledge and don't forget to like and comment to encourage further writing.
Regards
JJSingh
Reliance Industries - Exiting ChannelReliance Industries has had consolidation since around last 4 months, now exiting trading range.
Buy for swing trade targets of 2280
CMP = 2134
Stop Loss = 2060
R:R = 2:1
Disclaimer: We have active position in the security.
Disclaimer: All investments and trading in the stock market involve risk. Any decisions to place trades in the financial markets, including trading in stock or options or other financial instruments is a personal decision that should only be made after thorough research, including a personal risk and financial assessment and the engagement of professional assistance to the extent you believe necessary. The trading strategies or related information mentioned in this article is for informational / educational purposes only.
RELIANCE - Trading Channel TradeRELIANCE is trading into a trading channel has started rising from the base of the channel. Enter till the top of the channel for a high probability trade.
Levels of entry, SL and target marked on the chart.
Note - This is an educational idea showing how channels work. Do your own risk assessment and enter any financial positions.
Adani Enterprises #ChannelPattern #SwingPickAdani Enterprises which had reported an amazing 2nd quarter have been rallied since publishing its results and they have been trading in a range that have given a channel type of formation. Check out the chart and plan your trades accordingly. Just sharing my view.
Buying Opportunity in SBILIFE SBILIFE is in trading Range as you can see in hourly time frame .
SBILIFE already did several attempts to break the trading range formation but it failed .
Now the real question is why i am bullish on this still it failed to hold above trading range .
Because its above 200 SMA in daily time frame and if look closely you can see the bullish flag pattern in Daily time frame.
In hourly time frame price respecting new support it shows some bullish signal.
Price making higher low and same low which is kind of bullish signal .
These are the factors that's why i am bullish on this , but still i can be wrong . Let's see what will happen .
views on AMBUJACEM on NSE (INDIA)This is weekly chart of Ambujacem (spot). Following observations indicate that it might soon give an opportunity to go long in this scrip:
1. It has been trading in a range 185 to 280 since May 2014. It has made a low of 188.50 in the last week and finally closed at 190.45. This implies that it is trading at lower range near support which has been respected many a times in past.
2. As mentioned in the preceding point, range indicating support and resistance have been drawn on the chart.
3. Bullish divergence as marked on RSI in the chart can be seen signifying loss in momentum towards downside.
In view of above observation, it can be a good forthcoming long side trade with favourable risk-reward ratio if it shows reversal bullish candle on chart in near future.
Happy trading !!! Kindly share views for cross learning
IGL can return to test for activity near Earlier Trading rangeIGL a stock which is powerful on monthly and weekly. is not a stock to short for big money, not until 882 is accepted. 790-880 which was a trading range for IGL in 4hours charts was successfully broken by a WRB(wide range bar) and got a good follow up. now a spining top is formed and a small bearish inside candle followed up.
Expect a test of 882 which was the high of previous trading range and if buyers are found there then quick move to 950 on cards..
Long near 882
SL 845
Tgt 950
Short time hit and run traders can short for 882 but charts shows bulls so better to avoid and stay patient and long on dips.