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Wedgebreakout

Time to get 10% from TATACHEM - Strategy in Description ✺----------------Drop a follow here: @Averoy_Apoorv_Analysis ✺ ✺✺ Target: 1000 Followers ✺✺ ✺Strategy 1: beauty closing on 30min chart and waiting for 1hr close too if gives a good close here it's going to the moon with a banging 10% also never get too excited and hold your emotions, on that note lets take the risk of 3% from here :) the chart is self-explained as it is taking multiple support from the trendline - big players making the positions, also break of trendline = bulls have won the tug of war, we also see the higher highs on lower TF, also don't take small profits go for big ones like 5% and 10% but capital should be according to the risk of 3%. If on D it closes here carry on the position for some more days as it might give a flag breakout on D too ✺IMPORTANT POINT: Firstly do your analysis then only think of this trade and set the risk first, only that amount that you are willing to lose and will not get affected even if you lose it and also that amount if you lose it you won't curse me if the analysis flops hahaha just kidding, jokes apart, be patient to capture the movement and be impatient to get out if its a losing one and SL is triggered, don't put tight SL rather use less capital ✺--------------------------- Motivational and psychological area ✺ ✣Trade only if you are in the right mindset, if you have been emotionally weak for some time, take your time and don't trade, trade with a happy and + mindset only. ✣If you want to make money, firstly be prepared to lose it, only that much which you can afford and that much by which you can make a mistake again, learn from them and grow ✣Don't lose hope and keep grinding ✣I have seen my friends on youtube streaming games with watching 10, constantly they streamed for a year or two and now they are buzzing with 1k to 2k watching daily. ✣Focus on the process, you are here to make money not stupid decisions, and lose it all ✣No one will help you climb the mountain, few will tell the path, so follow good people, make good mentors and make good decisions and choices in the stock market. ✣Believe in yourself :) ✺------------------------------------ Some info-------------------------- ✺ ➼My name is Apoorv and I am a 2nd year Engineering student, I want to pursue trading as my career, and thus whatsoever setups or trades I potentially see on my charting platform, I post it here and share them with you all. ➼I hope you will love my simple analysis style. ➼Feel free to suggest your view on this as learning is earning here :) ➼I take my trades on my Zerodha account :) ➼I don't take all the trades I post ➼These charts are my and only my work, my thought process, just from an educational point of view and no calls. <<<<<< Thank You Have a Nice Trading Day >>>>>>
NSE:TATACHEMLong
by Averoy_Apoorv_Analysis
4
EDELWEISS, WEDGE BREAKOUT, PRICE-ACTION,VOLUME-PROFILE,1W,Disclaimer-: 1. Long-Term Bets can be solely made from technical analysis if done correctly. Nonetheless this can be used in combination with Fundamental Analysis . So readers feel free to comment fundamental ideas if any, either in support of long or short, both will be highly appreciated. 2. **FOR WHOM VOLUME PROFILE AND MY METHOD IS A LITTLE NEW OR BLURRY . I WILL SOON PUT UP AN EDUCATIONAL POST WITH DETAILS AND EXAMPLES. WE CAN HAVE A SERIES OF DISCUSSIONS THERE TOO. DO FOLLOW MY ACCOUNT TO GET NOTIFIED. 3. Do ask your questions in the comments if any. Firstly From 18Jul-16 to 13Oct-17 the stock went up. Then it fell significantly for a prolonged time. Now it has formed a wedge pattern (triangular) with lower and upper trend lines tested at least 3 times. It gave a breakout recently. Forming higher lows at each stage with high volume breakout. Faced resistance at 83 level multiple times, so breakout above 83 level will give addtitonal confirmation Volume Profile -: can be used to identify potential support and resistance lines. So by using TRADINGVIEW PRO FIXED RANGE VOLUME PROFILE . I tried to identify all the important levels (resistance) while the stock was falling. 2. Moreover when volume of historical price levels is compared to current ones we can identify probable accumulation or distribution regions and enter before the big move happens. 3. Also if we compare the falling volume with rising one, we'll be able to ascertain the strength of the current move and potential resistance levels. 4. If the volume in direction of up-move is way more than the volume of previous downfall then its easy to break the resistance levels and move forward. So in such stocks investing has lesser risk and greater chance of capital appreciation IMPORTANT OBSERVATIONS 1. Current Volume is very high compared to previous volume when the stock was falling. This signifies current region is important and breakout from this region will give a strong up-move. Moreover there has been a breakout from a wedge (triangular) pattern whose trend lines have been tested at least 3 times which further confirms impending strong up-move.Recently it has formed higher lows as well. 2. Above 83 and 127 levels the volume at prices is relatively very low which means there are insignificant or weak resistance levels. That means once breaks out of 330 level we should expect a strong rally with less and weak obstacles(resistance). 3. We need to consider the volume profile from only May-18 to 9Mar-20 because that's the time when stock was falling. In the previous time the stock was rising so definitely there is no resistance to us during that time. DEFINATION 1. POC-: The red line is called Point of Control . This is the price level with max volume i:e price level where max transaction has taken place. In this case, clearly the POC is a very important support level since if prices come back to this level there will be enough buyers available to protect from further falling. TARGET WITH LOGIC 1. Since the all time high level, 300-350 , stock has been falling with very low volume . While now the volume of accumulation is too high, so there is a high chance it can reach the all-time high. Moreover it might even go more than that, but it depends what happens after the breakout. ENTRY 1. Entry above 83 level breakout is good enough since 83 is one of the recent resistance levels. But in this case stop-loss should be placed conservatively at around 50-25 level because that's the recent low and as well as near the POC.(POC can act as very strong support) Since it is a long-term bet, placing tight stop-loss is like deliberately inviting failure. So a conservative and wide stop-loss will be better. 2. Another way is to enter after 127 level breakout for those who want extra confirmation. 3. Third and always the best way is position sizing. Enter partially now and add more with confirmation. *STOP-LOSS should be trailed as per your strategy. One of the best is to trail with Moving Average in 1D timeframe with ATR( Average True Range ) as a buffer. EXIT Sometimes we have to exit before target is reached if there is bearishness. Following can be the clues of bearishness-: 1. If there is bearish candlestick pattern in 1W timeframe, stop-loss can be trailed to a nearby support level .(Like Candle Low) 2. If there is RSI Divergence in 1W timeframe, better to exit at close of 1W since afterwards there can be long consolidation or reversal. 3. If the trailing stop-loss is hit, please exit 4. If you want to exit at target then try to place your exit order a buffer (ATR(14)) below the ideal target, because sometimes reversal starts before the ideal historical level is hit and you don't want to loose open profits **I WILL POST NECESSARY , SIGNIFICANT CHANGES IN THIS THREAD LIKE ADDITION TO POSITION, EXIT SIGNALS ETC. TO AVOID MISSING OUT ON UPDATES PLEASE REMEMBER TO LIKE AND FOLLOW THE POST AND MY ACCOUNT. **YOU CAN TURN ON NOTIFICATION TO BE UPDATED OF CHANGES **ANY COMMENT ON THE ANALYSIS WILL BE HIGHLY APPRECIATED.
NSE:EDELWEISSLong
by VPA_TRADER
SAIL IS GOING TO BE A RAIL AGAINSAIL is creating a base again to be a bulllish RAIL ----------------------------------------> As you can see , it has already broken its falling wedge few times(unlike JSW and TATA Steel as they are strictly following the falling wedge), also the momentum increased creating a bullish divergence. So we can expect a good spike in upcoming days.(Can be a swing/positional trade after few days) FOR INTRADAY TRADERS( only for 31-05-2021) 1- It was totally bearish last day and CREATED A DOJI(could be a sign of reversal) as last candle (on hourly frame). 2- Also , since it came again to support, so it can jump again as momentum is increasing. LASTLY ITS UP TO YOU WHETHER TO TAKE A TRADE OR NOT, BUT FOR A SAFER SIDE, CAN EXPECT A PROFIT OF 4-4.5 Rs per share....... Happy Trading ..... :)
NSE:SAILLong
by aufficial
4