Swing trade on Voltas! Possibility of new swing...As per chart taken entry at 1040 and exited on 1080....swing on 3.8%.
Now charts also showing new swing. It's just for educational purposes.
Thank you :)
VOLTAS trade ideas
[Diary] Voltas Classic CnH PatternFrom William's O Neil's book.
PS: I will not take this trade myself. Its mere archival for me. But the setup is valid. You can take it with SL.
Refer to the chart.
If it gaps up, wait for the gap fill.
Note -
One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells "where" to act in "what direction. Unless it triggers, like, let's say the candle doesn't break the level which says "Buy if it breaks", You should not buy at all.
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I use shorthands for my trades.
"Positional" - means You can carry these positions and I do not see sharp volatility ahead. (I tally upcoming events and many small kinds of stuff to my own tiny capacity.)
"Intraday" -means You must close this position at any cost by the end of the day.
"Theta" , "Bounce" , "3BB" or "Entropy" - My own systems. Please refer to the link to my footer and explore further if You want.
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I won't personally follow any rules. If I "think" (It is never gut feel. It is always some reason.) the trade is wrong, I may take reverse trade. I may carry forward an intraday position. What is meant here - You shouldn't follow me because I may miss updating. You should follow the system I share.
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Like -
Always follow a stop loss.
In the case of Intraday trades, it is mostly the "Day's High".
In the case of Positional trades, it is mostly the previous swings.
I do not use Stop Loss most of the time. But I manage my risk with options as I do most of the trades using derivatives.
I also do my trades live, Please refer to the link to my footer if you want to tail me.
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VOLTASThis stock is been in uptrend since a year. Now it has been retraced a few days back and took the support of 30 sma and after days of consolidation it has closed above 15 sma and ready to fire. Volume chart is also looking good. Buy above 1058, SL- 1033, Target 8 to 10 %. For educational purpose only. Kindly contact your financial advisor before entering any trade.
A smaller channel is looking to branch outThe stock has been in an uptrend from June 2020. A channel within the larger channel has started forming because of weakness in prices. We have not been able to touch the trend channel line of the larger channel. So, observe caution whilst setting ambitious targets.
Voltas EW analysis (alternate)Om Namah Shivay
Voltas recounting the EW level. The previous voltas count was for upside and then the target was much lower. Market went up to reach our target and further went up.
Recounting to find an alternate count for Voltas. The levels are very important when trading.
Om Namah Shivay
