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INDIAN ENERGY EXC LTDINDIAN ENERGY EXC LTDINDIAN ENERGY EXC LTD

INDIAN ENERGY EXC LTD

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IEX trade ideas

How to identify Breakout - Price ActionFor the purpose of demonstrating how one can identify a trend change using Support - Resistance and Price Action, I have taken the daily chart of IEX. I had also identified and posted about it before the recent rally. The first step is to establish a clear support and resistance line. In case of a breakout, I like to keep my target at around the same price difference range between old support and old resistance after it bounces from the resistance. The crucial thing lies in identifying the candlestick pattern around the support - resistance. In our case, when the price first hit the resistance, it formed a clear Bearish Engulfing and the next time, it formed a healthy dark cloud cover followed by an engulfing. These are clear red flags when a trader should start booking profits. Similair bullish patterns can be identified at support region like the Morning Star pattern as in the above chart. In order for the price to give a breakout, Volume & Momentum play a very crucial role. A rising volume with price rise builds momentum, and increases the chances of a breakout. Another important observation is to see HOW STRONG did the PRICE BOUNCE from the support. Long wicks, very less or almost no consolidation around the support and a bounce back from an area above the support instead of retracing all the way back to the support are clear indications of trend reversal from Bearish to Bullish. Also notice how the candle formed a Morning Star during the bounce, this further strengthens our conviction that the trend is changing. Observe how the red candles grow smaller and smaller as they approach support, this indicates weakening of the bearish momentum. Also the Resistance was approached in a very aggressive foray this time with clear long green candles indicating a very strong pent up demand. I hope this analysis provides some insight into how the Price action gives an early indication of the future price movement. Thanks for reading! Keep Learning :)
NSE:IEXEducation
by Aayush_Rungta
36
How to make a winning trade using pennants A pennant is a small symmetrical triangle that begins wide and converges as the pattern matures (like a cone). Here is an example of IEX. The company has declared a good set up of numbers on 22nd July. Profit after tax is up by 48% Sales are up by 36% The price is now hovering near the previous Resistance which now acts as a support Tight price range near the support level. Look at the small candles. Price goes up with rising volume on 23rd Aug. Any pattern may falter depending on the overall market condition. So one should always keep a stop loss. :) Hope you liked the idea. Happy trading.
NSE:IEXEducation
by ObliviousChart
6
Rising Channel movement, Higher High Higher Low Structure.IEX is moving in rising channel. It evident from volumes at lower end of the supports that stock has taken support at lower end of the channel. Keep SL below the current swing low at 385 levels. Final Target will be upper end of the line around 470 levels. Partial profit booking level around 438. After that either book partial profit and hold balance with CTC SL or hold full quantity with CTC SL. Overall the Reward at final Target is around 3 times the risk. Will review at all mentioned levels, if it shows strength at 470 levels will look for 520 by making the trade risk free. Note channel is drawn based on line charts, if you draw on candle stick charts trend lines will pass through the candles. Line charts remove noise and give clear chart. Technical Analysis is not solely candle stick, there are other types too.
NSE:IEXLong
by varadtambolkar
4
IEXNote: 1. Views are personal and for educational purposes only. Recheck and take the trade as per your RR. 2. Always remember SL is your lifeline, not the big target... 3.Follow us for more patterns and like, share so that we feel it is helpful to many and share more patterns... 3. Views given here is not a tip rather it is for educational purpose... Aftermarket opens, the condition might change so learn to handle different conditions... 4. To learn more about patterns, Psychology behind the trade, and price action trading... contact us... Thanks... Keep an eye ladies and gentlemen. Cheers and Happy Trading
NSE:IEXLong
by SENSITRADE_T