This is the perfect example of Momentum but you can not trade only on momentum, You need to combine all price action tools for analysis like Trendline,Support & Resistance zones, Price patterns etc. If you are a price action trader then you have to trained yourself to locate this type of price action movement.i am doing the same thing again n again and it helps me...
Everything explained on the chart.
Explained everything on the chart. Reaons for buy 1- Sell momentum Slowing down 2- Divergence 3- Trendline Break 4- Bounced from Support 5- First HH
Resistance break with momentum and price trading on above resistance zone and good price structure.
As we discussed SBIN was in my watchlist and finally today i have got the buy signal. SL,TP marked on chart.
ACC is trading at bottom but till now we have not seen any bullish sign and i need to price go down first before going up(see pink circle) with the momentum,wait for 1st HH then watch price closely because there is one more support and price can go down to test that zone. Note - Dont try to buy if stock is going down,Wait for buyer
BHEL bounced from support(minimize the chart to see support zone) with buying momentum and this stock is trading in the range from many days so I have added this stock in my watchlist and I will wait for clear uptrend continuation signal.
We have seen very good Down trend in the formation of LL/LH from last november but now we can see buyers are coming (as per momentum) and trying to control the market also we have got our first HH so now we need a buy signal only.
SBIN broke the resistance with very good momentum and i can see clearly HH/HL formation and there is no selling momentum till now, I have two entry zones so i will wait for buy signal near the zones .
ULTRATECH made a very good structure for short,Price broke the daily range with good momentum and sellers are holding price below support,We only need a sell signal to go short.
Bharat forge broke the support zone in daily timeframe and sellers are controlling the market below support zone till now, We need to wait for any price action sell signal to go short, Don't take trade too early.
Price bounced from support after making double bottom with momentum and sunpharma trading in range between 600-432 and we can see clear first HH formation So its very good signal that price will go up,Now waiting for signal. NOTE - YOU DON'T NEED MORE TRADES FOR MAKING MONEY,YOU NEED ONLY FEW TRADES WITH QUALITY SETUP,FOR THAT YOU NEED TO CREATE A WATCHLIST FOR...
Looking for buy because as i can see price was coming down in the formation of LL/LH but there is lack of momentum in downtrend and price bounced from support so as per my price action analysis price will go up fast once buyer take the control on overall market, So i will wait for entry signal, If entry signal is not found then I will skip trade.
PFC bounced from daily support with good momentum,We will wait for clear uptrend continuation sign for enter.
We can see price bounced from support and there is a seller trap signal also, buyers are controlling the overall market so there is not a single doubt about the trend.
We can see seller trap at bottom,This is very good sign of trend change and also there is a very good RRR. NOTE - FOREX TRADING IS NOT FOR EVERYONE AND FOREX CHART ANALYSIS IS FOR EDUCATION PURPOSE ONLY, I DO NOT RECOMMEND ANYONE TO TRADE FOREX,I AM SHARING MY TECHNICAL ANALYSIS KNOWLEDGE ONLY.
we discussed our analysis on 23rd may and on Friday I have got the buy signal and today we can see price is going in our favour now we will wait and manage the trade.