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Banknifty Target and Prediction-Intraday 8 thJune Check out daily Nifty and Banknifty Target for Intraday & Prediction for Tomorrow.These Forecast are based on some of the most used Technical Indicators; hence, they are expected to give accurate predictions. This Index Target, Forecast or Predictions should be used only for reference & educational purposes. The Data or Information provided may or may not be accurate or reliable for Investment & hence, should be used at one’s own risk
NSE:BANKNIFTYEducation
by OptionTrendAnalysis
Nifty Target and Prediction - Support & Resistance -08-06-2021Check out daily Nifty Target for Intraday & Nifty Prediction for Tomorrow.These Forecast are based on some of the most used Technical Indicators; hence, they are expected to give accurate predictions. This Index Target, Forecast or Predictions should be used only for reference & educational purposes. The Data or Information provided may or may not be accurate or reliable for Investment & hence, should be used at one’s own risk.
NSE:NIFTYEducation
by OptionTrendAnalysis
Divergence Masterclass 3 - Bearish divergenceIn the last 2 threads, we have already covered the basics of divergence and learnt everything about bullish divergence. If you have missed those threads, please go through the first 2 threads before reading this one. Now let's start with our topic, Bearish divergence, which I'll cover in 3 parts: 1. What is bearish divergence? 2. Types of bearish divergence 3. Subtypes with illustrations What is Bearish divergence? A bearish divergence occurs when the price rises to a new high while the oscillator fails to reach a new high. It indicates that the buying pressure is decreasing and the bears may soon take over the market. Generally, a bearish divergence occurs at the end of an uptrend. Bearish divergence is mainly of 2 types: 1. Classic bearish divergence – In this case, the price and the oscillator always either forms a higher high or an equal high. Considering these cases, the classic divergence consists of 3 subtypes. The classic divergence occurs at the end of a bullish trend and indicates a weakness in the underlying trend. 2. Hidden bearish divergence – In this, the price forms a lower high, but the oscillator forms a higher high. Hidden divergence occurs during the correction phase of a trend and is a possible sign for a trend continuation. So, combining all the above cases, there are only 4 types of Bearish divergence. You don’t have to memorize the names, it’s just a waste of time. Try to understand the underlying logic. 1. Strong Bearish Divergence. The price makes a higher high but the oscillator makes a lower high. This means that the buyers are not buying at the same momentum i.e. the buying pressure is decreasing. Price: Higher High (HH) Oscillator: Lower High (LH) 2. Medium Bearish Divergence The price makes a double top, almost the same level as the previous high and the oscillator makes a lower high. This indicates that at the same price levels, the momentum is decreasing. Price: Equal High (EH) Oscillator: Lower High (LH) 3. Weak Bearish Divergence In a weak bearish divergence, the price makes a higher high but the oscillator has almost the same high levels. This means, even though the price is increasing, the momentum is intact. Price: Higher High (HH) Oscillator: Equal High (EH) 4. Hidden Bearish Divergence The hidden bearish divergence occurs at less frequency as compared to the other types. In this, the price forms a lower high, but the momentum oscillator forms a higher high. This indicates that even at an increased momentum, there is enough selling going on to push the price down. Price: Lower High (LH) Oscillator: Higher High (HH) Pro Tip: 1. For bullish divergence, we only look at the HIGHS because we are finding the top of an uptrend. 2. Don’t memorize the cases. Just understand that if the divergence is occurring at the highs, then the price will reverse in the opposite direction i.e. it will go down. Hence, you just have to spot the divergence, regardless of the name. Conclusion: This completes our 3 thread masterclass on divergence. This an important concept in trading. Even if you don't trade divergence, you should at least know about it to spot the potential change in trend. Keep reading again and again until you master these concepts. All the best! Also, I am linking here all the threads related to this divergence masterclass(Don't know if that is allowed. Mods please remove the links if it isn't allowed, please don't remove the post). I am also thinking of combining all the threads into a single PDF file, but don't know how I'll share it with everyone since external link sharing is not allowed. Let me know if you guys want it. Cheers! 1. Divergence Masterclass 1 - What is Divergence? 2. Divergence Masterclass 2 - Bullish divergence 3. Divergence Masterclass 3 - Bearish divergence
BITSTAMP:BTCUSDEducation
by johntradingwick
17
Divergence Masterclass 2 - Bullish divergenceIn the last thread, we discussed the basics of divergence. In this thread, we are going to learn about the positive divergence a.k.a Bullish divergence. I'll cover it in 3 parts: 1. What is bullish divergence? 2. Types of bullish divergence 3. Subtypes with illustrations So, let's move ahead! What is Bullish divergence? A bullish divergence occurs when prices fall to a new low while the oscillator fails to reach a new low. It indicates that the selling pressure is decreasing and the bulls may soon control the market. Generally, a bullish divergence occurs at the end of a downtrend. Bullish divergence is mainly of 2 types: 1. Classic bullish divergence – In this case, the price and the oscillator always either forms a lower low or an equal low. Considering these cases, the classic divergence consists of 3 subtypes. The classic divergence occurs at the end of a bearish trend and indicates that a trend reversal may occur soon. 2. Hidden bullish divergence – In this, the price forms a higher low, but the oscillator forms a lower low. Hidden divergence occurs during the correction phase of a trend and is a possible sign for a trend continuation. So, combining all the above cases, there are only 4 types of Bullish divergence. You don’t have to memorize the names, it’s just a waste of time. Try to understand the underlying logic. 1. Strong Bullish Divergence. The price makes a lower low but the oscillator makes a higher low. This means that the sellers are not selling at the same momentum i.e. the selling momentum is decreasing. Price: Lower Low(LL) Oscillator: Higher Low(HL) 2. Medium Bullish Divergence The price makes a double bottom, almost the same level as the previous low and the oscillator makes a higher low. This indicates that at the same price levels, the momentum is increasing. Price: Equal Low(EL) Oscillator: Higher Low(HL) 3. Weak Bullish Divergence In a weak bullish divergence, the price makes a lower low but the oscillator has almost the same low levels. This means, even though the price is decreasing, the momentum is intact. Price: Lower Low(LL) Oscillator: Equal Low(EL) 4. Hidden Bullish Divergence The hidden bullish divergence occurs at less frequency as compared to the other types. In this, the price forms a higher low, but the momentum oscillator forms a lower low. This indicates that even at a decreasing momentum, there is enough buying going on to push the price up. Price: Higher Low(HL) Oscillator: Lower Low(LL) Pro Tip: 1. For bullish divergence, we only look at the LOWS . 2. Don’t memorize the cases. Just understand that if the divergence is occurring at the lows, then the price will reverse in the opposite direction i.e. it will go up. Hence, you just have to spot the divergence, regardless of the name. Please leave your feedback, it'll help me to create better content. Cheers!
BITFINEX:ETHUSDEducation
by johntradingwick
87
Divergence Masterclass 1 - What is Divergence? Hello all, today we are going to learn about divergence. A simple topic, which often confuses the newbies. I'll keep this thread short since this will lay the groundwork for the upcoming threads. Please go through this thread before proceeding to the next threads. Foreward In this thread, I would explain the following as easily and briefly as possible: 1. What is divergence? 2. What are the different types of divergence? Introduction When the price of a stock moves in a certain direction, the momentum oscillator should also move in the same direction. Eg. When the Price makes a higher high(HH), the momentum oscillator should also make a higher high(HH). This is called convergence since both, the price and the momentum are converging in the same direction. In a few circumstances, the momentum oscillator and the price do not follow the same path. This is called Divergence. What is Divergence? When the price of an asset is moving in the opposite direction of a technical indicator, such as an oscillator, it is called divergence. Divergence warns about the underlying weakness in the current trend. The price may or may not reverse at the exact occurrence of the divergence. Different types of Divergence Broadly, divergence can be classified as a positive and negative divergence. The positive divergence is also known as the Bullish divergence, while the negative divergence is called a Bearish divergence. 1. Bullish divergence/Positive divergence Positive divergence signals that the price could start moving higher soon. It is of 2 types: Regular Bullish divergence Hidden Bullish divergence Some illustrations of Bullish divergence: 2. Bearish divergence/Negative divergence Negative divergence signals that the price may soon start falling to lower levels in the future. It is of 2 types: Regular Bearish divergence Hidden Bearish divergence Some illustrations of Bearish divergence: Conclusion: I hope you may have got a better idea about divergence now. I'll post the next thread explaining bullish and bearish divergence separately as I didn't want to clutter this thread. Useful Tips: 1. You should not rely on divergence solely, as it doesn't provide timely trade signals. 2. Divergence can last a long time without a price reversal occurring. 3. It may NOT play out sometimes. Hence, it is just like any other indicator which has a probability of working out but NOT a certainty.
BITSTAMP:BTCUSDEducation
by johntradingwick
5
Using The Fibonacci Retracement and Extension levels I've explained how can can use Fibonacci levels in trading using example of NSE:TATA STEEL . Firstly know your trading perspective, and choose your chart time frames accordingly . Now use higher time frame chart and draw FIBONACCI RETRACEMENT TOOL from bottom to top(in Uptrend) and top to bottom (in downtrend) for current trend. . Mark the levels using horizontal line, near stock is trading currently . Use smaller timeframe to get retracement levels in uptrend or in downtrend, and now make Fibonacci extension levels from top to bottom(in uptrend) and bottom to top(in downtrend) for current swing . Mark all the important levels, these will work as support and resistance . Now, using RSI,MACD,EMA sets you can trade your position for these levels HAPPY LEARNING AND START INVESTING
NSE:TATASTEELEducation
by PuruKhuwal
A layman’s guide to Support and ResistanceForeward In this thread, I would try with the best of my knowledge to explain the following questions as easily and briefly as possible. 1. What is a support level? 2. What is a resistance level? 3. What is their importance? 4. When and where to place Buy/Sell orders? Introduction Support and resistance levels are a critical part of trend analysis because they are used to make specific trading decisions. The fact that these levels flip roles between support and resistance can be used to determine the range of a market, trade reversals, bounces, or breakouts. They help in the identification of a trend reversal. For example, you might identify an upcoming support level and decide to start buying the stock as it approaches the said support knowing that it will likely rebound higher. The support and resistance levels test and confirm the trends and should be closely tracked by every trader. These levels exist due to an influx of buyers and sellers at key junctures. So, the question arises- what do support and resistance really mean? What is a Support? A support level/zone is a level where the price tends to find support as it falls. This means that the price is more likely to “rebound” from this level rather than pierce through it. However, once the price breaks down this level, it is likely to continue falling until meeting another support level. What is a Resistance? A resistance level/zone is a level where the price tends to find resistance as it rises. This means that the price is more likely to “bounce back down” from this level rather than break through it. However, once the price pushes above this level it is likely to continue rising until it meets another resistance level. Trade setup: 1. Buying the support The price gets rejected from the resistance level a few times. Finally, after a good attempt, the price manages to break out from the resistance. Don’t buy yet, wait for the retest since it can be a false breakout and you may end up losing your money. After a successful retest, open up your long positions. Make sure to lock in profits on the way up. 2. Selling the resistance The price gets rebounded from the support level a few times. After a few attempts, the price finally breaks down of the support level. Don’t sell yet since it can be a false breakdown, wait for the retest. If the retest is successful, close your long positions on the breakdown point. Some may want to open short positions too. Role Reversal/ Change of Polarity A resistance level after a successful breakout turns into a support level and a support level turns into a resistance level after a breakdown. The turning of Resistance into a Support is or vice versa is known as "Change of Polarity". Conclusion: A zone keeps on flipping roles between support and resistance. Sometimes, it acts as a support, and other times it acts as a resistance. Hence, never consider a zone as fixed support or resistance. Moreover, consider these zones a potential support or resistance zones because there isn't any certainty that these will act as the desired zone. Useful Tips: 1. Avoid placing orders at these major points since there exists a lot of volatility around these points. 2. Take care to not place buy/sell orders directly at these levels since there is a good chance of not hitting the exact levels. Use approximate margins for placing orders. 3. Never ever forget to use a stop loss if for an instance the trade doesn’t go as expected.
NSE:NIFTYEducation
by johntradingwick
54
MINDA CORP - Let's Observe The last Chart of Hindustan Copper had many missing the entry before it broke out and hit upper circuit. So here I bring Minda Corp which I think will emulate Hindustan Copper to some extent. This is for everyone to learn as well. Cup has been formed. Now either wait for a small pull back where one can accumulate after it turns around or be ready for it to race up and retest. My Hunch is because of the Double Bottom, the stock is strong for an upward rally but the rejection candle may show temporary weakness providing everyone with an opportunity to enter this space.
NSE:MINDACORPEducation
by CannySunny
4