mechdaa

mechdaa

A triangle pattern formation is observed. Have to wait and see if the breakout happens. .A resistance is observed in the weekly timeframe. .Without proper risk management (i.e position sizing and stuff), trading might scare your account balance.

mechdaa

Will this be a good breakout? The volumes and pattern look good. Risk management is a must.

mechdaa

Resistance is crossed along with good volumes. Keep in mind that "Risk Management" is very important in trading.

mechdaa

As the price broke down with good volumes, there might be a probable further down move. Keep in mind that "Risk Management" is very important in trading.

mechdaa

It is observed that the price of GAIL has broken an important support line.Will this be a good breakdown?

mechdaa

If the closing is a good green candle with high volumes then this would be a good breakout to trade (with caution obviously). There might be a pullback (or retracement). Have to be careful with the quantity that we take. Maybe taking small positions now and taking more when it seems to be a strong breakout is a good option.

mechdaa

I thought this is a good triangle pattern and the resistance is crossed with good volumes on a 3h time frame. So after going to the trading terminal and I placed the order, only to realize that this stock cant be traded intraday and can only be taken for delivery .Haha...

mechdaa

Channel patterns and triangle patterns just consist of support and resistance lines. In a channel pattern, support and resistance lines are "parallel". For a resistance or support line to be valid or strong there should be at least 3 touchpoints. In the given chart, there are more than 4 points each that touch the resistance line and support line. In all 3...

mechdaa

Observation needed. Is there a possibility of a breakdown? Well, we have to wait and decide in the coming trading days.

mechdaa

NSE:UPL The formation of the triangle pattern is visible. Will this breakdown. We have to wait and watch in the coming few days.

mechdaa

If by EOD The volumes are good and red candle is good enough then this might a good breakdown. Kindly comment your thoughts. Lets learn and grow.

mechdaa

I observe that this is a good channel pattern. The strong resistance is broken with volumes greater than 10 day average. Thoughts on this??

mechdaa

Chance of breakout .Nothing fixed.Have to wait and observe.

mechdaa

Yes, CoalIndia has broken out and quite well. Look at the chart in which I drew the resistance and support lines. I should've taken the trade. I think I have seen enough analyses to understand that breakout trading is a working strategy when traded with caution and all the rules. I will trade the next proper breakout pattern.