As I said earlier today, volume plays a very important role in breakouts. you see an upward breakout and the price closed a candle above the pennant but without any considerable volume, and it reversed all the way down.
Good Luck With Your Trades. ;)
Just an novice ...self learning.
If dlf manages to cross this intersection point of resistance zone (intersection of resistance levels of parallel channel and triangular pattern) , most likely to test higher levels... let's see, if I'm wrong, friends please offer your views for corrections.
NSE:SRF gave a breakout from its previous resistance.
However, it is gonna face slight resistance near 3877. A close above which, can take the stock towards its All Time Highs.
Whenever i see a trend-line break , but not a follow-through move, i draw a parallel Trend line to the new low made.
And if the price break this new trend-line, then the chances of price follow through becomes high.
Hence nifty is sell below 8980 levels.
Do not follow blindly, please do your own research.
Rule #1 Define the London Trading Range
We’re going to use the range definition that takes into consideration only the body of the
candles, excluding the wicks.
Note* this trading rule can be adapted as you get more experienced at reading the price action.
This strategy works because the Asia trading range tends to attract buy and sell stops above
and below the...
Kindly comment with " Yes " for agree and "No" for disagree with this post:
Before the break-out, I've informed that " Breakout will give truck of Money. ..!". Exactly, we seen this statement was TRUE, didn't it? (End of idea link is added about this idea)
Let's talk step by step was happened here.
The Width of congestion area was equal to height of the...
----------------------------------Support And Resistance – The House!----------------------------------
Support and Resistance explanation:
Imagine that you are looking at a vertical cross-section of an "Old fashioned dolls house " which is shown in the schematic. Now you can see all the floors and ceilings in the house, and as you can see here we have a...
Hello traders,
after Easter, we share another educational video. Today´s topic is focused on drawing support and resistance levels.
Many traders draw LINES and they think the market will bounce exactly from that level.
The truth is, you can never do that . Instead, it´s better to understand the S/R level as a zone WHERE you can EXPECT some activity.
Nobody...
Simple strategy using 2 Simple Moving Averages channels, Momentum and ADX with Directional Movement
First Channel:
70, High
70, Low
70, Close
Second Channel:
144, High
144, Low
144, Close
Momentum: 34
ADX: 14, 20
To use this strategy please refer to link related to previous post.
The SMA 144 channel is used to determine the strength of a trend. Kind of like...
This guys you have to understand...
For complete understanding you need to do a careful study of "New Science of Technical Analysis" of Thomas DeMark.
Anyone who does not know trendline basics of New Science and is not applying those is a shaman who is teaching you big BS.
