IGL trade ideas
IGL.. long term negative divergenceIGL. forming clear long term negative divergence.
investors be cautious..
IGL : Tie IGL
If it breaks current level ( channel mid line) then it will turn bearish, bull have to put lot of effort to keep it in their territory.
#IGLHTF in momentum
Reached near 38.l2 fibo
Log tailed Reversal on Weekly
Daily Close > EMA5 with strength
What is price action Trading ??One of these days i see that retail traders get an advertisement of Price action trading trainer , well most of them even dont know what is going on with in the
Market , i asked many of them to take up Live Trading challenge if they are so sure of the price action trading , Most never replied to my message
but what they are doing is they continue to collect fees form innocent retail to tune of 30000 Per training , and retail after losing the money in stock market they end up
paying the heavy fees yet the success is not even close to their investments
My point is Price action is not candlestick trading , it requires meaningful understanding of trend/ Momentum and the direction of the trend ,
Many time the trend is making an Continuation pattern but the so called these pandits suggest to book profits or go short sell
They even dont know where to begin and where the trend is end ,
Let me tell you what is price action in short message
Its an Movement of price based on market participants interpretation , its theme of moves in trend and counter trend moves , its an indication of progressive moves in the direction of least resistance , overall its an tool that gives you the past data in order to asses future direction ,
its easy to be fooled by these people who try to teach you in the name of price action but they them self dont have a complete knowledge
I love to post about it but it takes lots of time ,
One can Ping me in case you want to know more after Friday i will reply
Goodluck
IGL. topped outIGL has topped out for short term to begin with.
today it has formed a big bearish candle with volumes. short on rise for 488 480 targets, if u get a rise
504 is an important levels, as long as the stock trades above itThe stock has an splendid move in last few months. Lately there has been some momentum divergence in the stock, RSI & MACD on the daily charts are diverging with price. Though divergence is does not indicate any trend change, but it has to hold on to important supports to maintain its trend up. Furthermore the bearish engulfing candle reassures a probable detour in the coming week. 504 is an important levels, as long as the stock trades above it the levels of 535 – 560 may be probable however giving up the support may attract correction in the stock till 495 – 480 levels.
IGL.. topped?IGL after results announcement yesterday , today opened and went up but got sold into and ended as a Bearish Engulfing bar after a good rally
looks like a top is in place.
any buys are only above todays high
likely to test 500 480
