WIOA trade ideas
Trading Patterns 101 - The Bullish flag patternWhat Is a Bullish Flag?
Bullish flag formations are found in stocks with strong uptrends and are considered good continuation patterns. They are called bull flags because the pattern resembles a flag on a pole. The pole is the result of a vertical rise in a stock and the flag results from a period of consolidation. The flag can be a horizontal rectangle but is also often angled down away from the prevailing trend. Volume usually increases in the pole and then declines in the consolidation.
The pattern consists of two important moves:
1. Impulsive move - In the first stage, buyers aggressively step into the market, driving prices higher. This rise in price then attracts other buyers, creating a buying frenzy.
2. Corrective move/Consolidation - After a while, the price settles down. This happens because fewer and fewer buyers are willing to buy at this point because the move seems overextended. The buyers who entered at the bottom start taking profits. When all of this happens, the stock will go into consolidation. At the bottom of the consolidation range, new buyers keep entering since they don’t want to miss the move.
How to identify a Bullish flag?
The bull flag pattern has 5 main characteristics:
• The preceding trend – Uptrend
• The consolidation channel – Either sloping downward or rectangular
• Volume – The volume must be high during the formation of the pole, low during consolidation, and again, high during the breakout.
• Breakout of the consolidation range
• A confirmation where price moves in the same direction as the breakout
Target objective:
The target for a bull flag is derived by measuring the length of the flag pole and projecting it from the breakout point.
The psychology behind a Bull flag:
1. The bulls start their buying frenzy and charge ahead with a strong breakout, causing the bears to either panic and cover their ‘shorts’ or add to their ‘short’ positions.
2. Once the stock is in the consolidation stage, the bears (short-sellers) regain some confidence and they add to their ‘short’ positions with the expectation of a price drop. This causes them to get trapped again when the price breaks to the upside, causing the shorts to cover their positions and ultimately driving the prices even higher
3. Since some short-sellers from the initial flagpole run-up may still be trapped, the second breakout forming through the flag can be even more extreme in terms of the angle and severity of price move.
How reliable is a bull flag pattern?
Flag patterns are considered to be among the most reliable continuation patterns that traders use because they generate a setup for entering an existing trend that is ready to continue. Flag formations are all quite similar when they appear and tend to also show up in similar situations in an existing trend.
I guess that's almost everything you need to know about a bull flag!
If anyone is interested in getting a PDF version of this thread, then you can message me, I'll provide it.
Happy learning. Cheers!
Wipro at the top of its long term range. heading downNSE:WIPRO is playing at the resistance of its long term range.
It looks like that's the end, and now it should be heading down to touch the support of its long term range or at least consolidate till the support is reached before a fresh move above.
WIPRO - PRO+GOOD FOR A QUICK OPTION
Take trade as per the values given in Fibonacci. always trail the stop loss. do your own analysis before taking trade
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Wipro.. Intraday trade.. SellOnly for intraday. The share price had moved below the 50EMA and had respected it. Couldn't break it up again. Likely to fall on Monday.
What Next ?can there be fall from all time high price level ?
yeah possible
RSI - drawn resistance trend line to be watched
consistent volume has given descent support so far
so keep a watch on volume candles
exit short on crossing and closing above
rising Resistance trend line
where to book short ?
or
where to enter for fresh long?
levels for above questions -
541, 530, 515
disclaimer - for study purpose only
WIPRO FOR SWING TRADEWipro has rallied too much; it needs to correct the price so that when it breaks the support, it may bounce back to the previous levels.
Also, Keep It Mind that
If stock market gurus were true experts, they would buy stock not selling advice. So don't take anyone's word for it; this is just my opinion; do your own analysis.
INTRADAY AND OPTION WIPRO WIPRO
SELL 552 TO 555 S/L 562
TARGET 548 TO 542
FOR 500 PUT OPTION GOOD VOLUME TRY
LOT SIZE 1600 BUY 0.60 TO 0.65 NO S/L
TARGET 1 TO 1.50
Check average and do short tradeCheck price average for 50,30,15 days and do short trade.
Buy - when Green line is top of orange and red.
Sell- When Green line is bottom from orange and red.
Wipro : Flag Break Out | Friday Trade - 11th JuneStock has given flag BO in 15 min TF and also taken support at 78.6% and then 100% Fibo levels.
Looks good above 556 for tomorrow if doesn't open gap up tomorrow
Wipro 554 - Our trading reviewWipro 554 - Our study has ALWAYS failed for WIPRO. We expect Wipro has resistance at 568 ( on close basis )
Wipro Analysis For 11 June 2021Wipro Analysis For 11 June 2021
If Wipro opens above 555.55
Then
Tp 570
SL @ 549
Risk Reward Ratio Is 1:3
Wipro The Perfect Short Wipro is Giving opprtunity to short at current levels . Sl Tgt on Charts
Capital allocation - Less
Risk - High
WIPRO view and levels for next two daysNSE:WIPRO
Wipro looks to be in a good value are. Entered the stock since the risk to reward looks good.
Tweezer bottom at a very good confluence of support(trendline+200ema/15min+support at 50% fib retracement). confirmed by good volume buying.
Can be watched for next two days
Last 2 15min candle shows good volume of buying there.
planning to exit the trade on Friday.
Nifty IT also shows a morning star pattern in 15min time frame at 38% retracement.
If opens gap up tomorrow it will be a good sign.
