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M Top or Double Top Bandhan BankThe Daily chart in Bandhan Bank shows a clear-cut M Top or Double Top pattern. Note that it's a trend reversal pattern. As you can see before the M top it was bullish and After the M top it created a bearish Trend. Let's call the first candle which crosses Neckline as Point B, and the Resistant line as Point A. when the candle finally crosses the neckline after creating M Top or Double Top draw a line from point A to point B. and place it below the neckline that shows the target. It's clearly seen that it has given a significant profit of 16%.
NSE:BANDHANBNK
by rajeevpatil
SBI LIFE (BUY AND SELL)Why Buy and Sell Now you need to understand the chart Is creating 2 patterns at the same time 1. Tripple Top (which is a trend reversal)(Which is highlighted in Yellow) 2. Cup and handle (which is highlighted in Blue) If the price crosses the resistance line and creates a new candle above the resistance line then Buy the Target is 1130.( Which means its completing Cup and Handle Pattern) If the price crosses the Support line and creates a new candle Below the Support line then Sell the Target is 860, 778, 737.( Which means its completing Tripple Top Pattern)
NSE:SBILIFE
by rajeevpatil
Parallel Channel- A great tool for Identifying Trends A parallel channel which can also be termed as a price channel is a tool to identify a share’s price in bounded parallel lines. It can be horizontal, ascending or descending. It’s a great tool for those traders who believe or trades with the idea of Price action. A parallel channel can be formed when the price of a security is restricted by supply and demand and can be upward, downward or sideways trending. It shows the trend on which the security might be headed towards or on the verge of breaking it to reverse its direction. It can occur on various time frames and can be created on various instruments like stock, mutual funds, ETFs etc. The two parallel lines act just like the Resistance and Support. The upper line acts like the Resistance and the lower line acts like Support. A lower trendline is when the price pivots higher, and an upper trendline when the price pivots lower. The steepness of the parallel lines decides the direction of the price it moves. Ascending channel will be bounded by positive lines indicating that the price is trending higher with each closing of the bar. Likewise, a breakdown of the lower line means that price has moved significantly and now it will see some profit booking and makes a good opportunity for profit booking. Descending channel indicates that price is trending lower with each bar it is forming. Whereas a breakout of the upper channel conveys that the trend has changed and now the price will move upwards. As in this example of Axis Bank Daily chart, you could see a Descending Parallel channel which did retrace to its lower price channel and that makes it a good entry point after which it broke the upper channel with good volume confirming its upwards rally.
NSE:AXISBANKEducation
by Saket_Ojha
Know When To Stop Trading !!!!🎯When to Stop Trading? We have spoken up to now about when to stop trading on a particular day. However, it is important to know if you should stop trading altogether – in other words, quit. It is not simple to find the right time to quit because often people quit when the going gets tough, but this may be just before success arrives. However, there are times when quitting is important: --You can’t see any possible positive outcome for a trading --You constantly feel overwhelmed and negative about your trading --Trading takes preference over your health or your family --Your financial situation is negatively impacted by your trading so that your family is suffering or your mental health is impacted. These are all red flags. At a minimum, take a break from trading in order to rest, relax and recharge. Save up some trading capital, assess your goals and reflect on your failures and successes. Use this to formulate a new trading strategy, while working on your perspective and objectivity. You may then be ready to try again. The markets are certainly not going anywhere if you need a break and quitting does not need to be forever.
NSE:NIFTYEducation
by ReviveTraders
6
How to trade based on Zones?This is an example of how I mark my charts while taking trades. Defensive trading strategies are very good for sideways markets. The indices around the world are sideways and not making any fresh highs or lows. The principle that I have explained on the charts is ideal for protecting your capital and has a higher chance of succeeding. When the price moves to either of the extremes, you should look at taking a trade on the opposite side. This means that once the price approaches the higher boundary, you should be looking at selling and when the price approaches the lower boundary, you should look at buying. This does not mean that you blindly set that marked price as the entry point, but you should wait for an extreme to be created and then take a trade only after the confirmation of your bias. Trading such markets requires patience and entries should only be made on the boundaries. If you enter a trade in any direction in the middle of the zone, you are likely to get trapped. What I mean by trapped is that your stop loss will become larger and probabilities are starting to move against you. Trade only with capital you are willing to lose and maintain proper money management. Feel free to ask questions, if you have any! :)
NSE:M&MEducation
by ArcherDAVIS