SIEMENS, Idea for Profit 8-Apr 2020SIEMENS in trading in symmetrical triangle. Breakout on either side can be traded.
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SIEMENS trade ideas
Watch out this stock!! it is on very crucial level!>>below 1260 it slide to 1200
>>if it will take support from this support then it will bounce back up to 1320
[Positional] Siemens Analysis on W frame - Bounce TheoryAgain, if we check using Bounce theory, the Lower high will be same as the high of the inside bar resulting in same trade idea. Anyways, all theories of price action tell almost the same thing in the same time frame.
[Positional] Siemens Analysis on W frame - Compression TheoryBut, if we check the chart of Siemens in W frame, We see an inside bar as well as in the intersection of two important support lines.
[Positional] Siemens Analysis on D frame - Bounce TheoryIn D timeframe, Siemens is in a downtrend. In the previous examples, We have used our own Bounce indicator or ZigZag indicator to identify the swing chart.
But, it is always better to draw the swing chart by hand. It lets us assign an emotional value towards each candle that is formed. Anyways, that's what price action is all about!
As we can see, the candle which we declared as both lower high and lower low is definitely a swing low but it is not a swing high! But, if you see the distribution of the preceding and succeeding candles, the psychology behind the candle is quite fascinating!
First of all, it is a green candle showing strength after a huge fall (as you can see from the huge tail of the green candle); the next candle is an inside bar which shows compression! The high of the previous candle of an inside bar i.e. the green candle is always an important mark and does definitely fill the purpose of Lower High.
SIEMENS Inside Bar TradeLong if it breaks the high of the previous day with a stop loss at the previous day's low.
Short if it breaks the low of the previous day with a stop loss at the previous day's high.
In case of gap up above the previous day's high or gap down below the previous day's low, please avoid buying it or selling it respectively. Follow the ending of the candle formed in first 5 minutes and follow ORB strategy.
Seimens at 50% Fib Retracement Level and also at Support LevelSiemens is at 50% Fib. Retracement Level. This Level was touched and tested on Feb.1 and the stock bounced back from here. Now again around this level. This is also traditional support level. This stock must be in watch list. Any upward breakout may provide descent fruit.
Siemens positional Strategy for Target of 1475-1500 .One can go long at current levels of 1420 can be accumulated till 1410.
Stop loss below 1400.
Trade Duration till 20 Aug.
PS: one can book at 1445 within 2 days for short term trade.
Siemens cash : Looks good above 1550.10SIEMENS CASH
29 JAN 2020
LOOKS GOOD ABOVE 1550.10
AND DIPS 1542-1544
SL 1535
TARGET 1565/1584/1600
