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Jindal Stainless Hisar - Positional tradingThis is a positional trade idea where I have applied the principles of Stan Weinstein of price structure, volume, relative strength and 30 weekly moving average. This form of trading needs some patience and is suitable for those who may not have the time to watch charts each day. Sector Structure- The first step is to watch the sectoral index i.e. Nifty Metal index. This gives a bird's eye perspective of where the sector is structurally. Do not enter a trade if price is below 30 MA on Weekly chart or in a LH LL structure. Stock Structure- JSL Hisar is in Stage 2 structure with price above 30 weekly moving average and the latest weekly candle has broken prior resistance decisively with a strong body candle and volume expansion. It indicates strong demand. Pattern- A variation of cup and handle pattern can also be seen which represents volatality contraction. RS- Relative Strength (not RSI) is a measure of strength and performance of stock against the whole market or a particular index. In this case RS has outperformed the CNX Metal index. Risk- It is important to have a clear idea as capital protection is key in trading. It is also important to recognize that different traders have different risk appetite. Positional trades give the stock room to breathe and retracements can often be anything from 15 to 20%. Therefore, it is important to find the right entry price. Here, it is important to note that CNX Nifty 50 has been in a heady upmove since March 2020 and in the eventuality of retracement in the broader market i.e. CNX Nifty 50, all sectoral indices are likely to move lower. Nifty 50 is in a stage 3 structure and is ranging sideways for some weeks. Hence, to protect capital, my first stop loss will be the low of the Daily candle of 22 July where I will exit 50% and the second stop loss where I will exit the balance 50% will be the 50 Daily Moving Average on Daily chart- this is a slight variation that I have learn't from my guide. Entry strategy - 25% at the weekly candle of 19 July and adding on as price retraces. This gives better risk reward ratio. But important to remember the risk mitigation strategy. The idea in positional trading is to be with the trend till any of the risk factors mentioned above are violated. Disclaimer- I am not a certified investment advisor or a chartist. This is not a buy or sell recommendation. The purpose of sharing this post (my first one) is to learn from the community members and experts in the group.
JLong
by culturalDealer79974
1
GBPUSD FUTURE OPPORTUNITIESHello Traders, In the above analysis: I'm showing the both scenario may happen on GBPUSD pair with the help of simple SUPPORT/RESISTANCE. Where, GBPUSD is on a sideways from last 15 day at range of 1.42340 to 1.40990. So the analysis says: if it'll break this resistance(1.42340) then we will see a new high on GBPUSD after 3 years of downtrend or if it fail to break resistance & came below support (1.40990) then next target will be 1.40290. You can use this analysis on intraday & swing both. Use proper risk management if enter. Best of Luck Happy trading
by Rakesh_Thakuria
1
JSW ENERGY ASCENDING TRIANGLE PATTERNJSW ENERGY is on a constant uptrend also contributing to the rise of the Energy sector. On 13 Jun, 2021 it was trading in a tight range and this consolidation can give a very good upmove with an intraday target of 167 on Monday 14 Jun, 2021 with very good weekly swing targets and long term profits as well if you are keeping it as a holding in your portfolio. Ascending triangle pattern Timeframe: 1hour Keynote: Constant uptrend taking support at the trendline and consolidation for a big move ahead.
NSE:JSWENERGYLong
by sanjibkb9
GBPUSD LONG SWING OPPORTUNITY GBPUSD recently broke its multiple rejection RESISTANCE at 1.4000 & drastically go up. Another side's already in an UPTREND for the last few months so, Price action analysis says it's a good time to buy/long GBPUSD as a SWING TRADE. Remember: Close 50% trade at take-profit:1 & move Stoploss at Breakeven. There is resistance at Take-profit:2 so if we use this trailing strategy then our trade will be safe TAKE 2%---5% RISK ON THIS SWING TRADE BEST OF LUCK!
Long
by Rakesh_Thakuria
3