My Analysis and Trade reviews

[Vertigo_1985]

Few observations on this upmove -
1. This upmove is stronger than last upmove till 6440 and also stronger than peoples expectation. Buyers have strongly supported every major low ( 6160, 6230, 6277), last major swing low is now 6300.
2. Move from these major swing lows have been quite strong, clear and measuring about 70 points.
3. Today after 12:15 test of 6300 upmove was weak compared to how it has been moving so weakness has definitely come in. This weakness can be overcome if tomorrow morning we have a gap up and go, next level is 6380-6400.
4. Even failed break of 6300 should be trading opportunity for longs but in that case i am expecting a consolidation.
5. Breaking and sustaining below 6300 would mean break of current pattern and next level would be 6277, 6230. Banks are weakest so they may lead the fall in this case.

 

[niftytaurus]

Hi Virtigo bhai
Thanks for ur thread & excellent charts.!
the charts analysis &traded by you are just Superbbbb!...u have really a crystal clear understanding of price action..I will print & make a hard copy of ur charts...& it will be a great book itself for price action trader..thank u very much for those charts..keep posting them...
I am also trying to learn price action..Reading Ytc also...
I have observed that ur using trendlines & some chart patterns also like bull flag etc...could u suggest what other books should I read to be a chart reader &trader like u.( If I can get 50% of ur skills ,I would be happy ) ...please suggest some good learning material & books...( I am reading Ytc & mike books)..
thanks

 

[Vertigo_1985]

Hi Virtigo bhai
Thanks for ur thread & excellent charts.!
the charts analysis &traded by you are just Superbbbb!...u have really a crystal clear understanding of price action..I will print & make a hard copy of ur charts...& it will be a great book itself for price action trader..thank u very much for those charts..keep posting them...
I am also trying to learn price action..Reading Ytc also...
I have observed that ur using trendlines & some chart patterns also like bull flag etc...could u suggest what other books should I read to be a chart reader &trader like u.( If I can get 50% of ur skills ,I would be happy ) ...please suggest some good learning material & books...( I am reading Ytc & mike books)..
thanks

Thanks a lot for your kind words .
For price action just YTC is enough, understand it's fundamentals. The most important part of YTC is its first few pages where he explains about seeing market as people making decision, rest is just to give it structure and method so that people can learn it.

For me patterns just help in giving big picture like a bull flag means strength, a strength in which sellers are very weak so then you zoom into trading timeframe and watch if it's suitable for breakout or bpb. Similarly an ascending traingle will mean buyers are pushing prices against a level. So learn about simple patterns like flag, triangle, channels and understand what they mean in price action terms, in decision making terms(from sites will be enough).

One more thing...patterns are just a way to categorize different re-occurring price action structures, so dont just stick to traditional patterns, you can make your own patterns. Like i have mentioned earlier too about infy buying in morning and then selling after 11 am, thats a pattern too and there are many others like this.

Read One Good trade and try to copy the hard work SMB traders put in. YTC with SMB is more than enough. Chose one method and master it as avny is doing. I see many members here moving from one thing to another, IMO that's not going to work(and i am talking about people with good technical knowledge).

Read Trading in the zone, daily trading coach and follow it.
Trading is 20% technical and 80 % psychological so get a simple edge and master it. Think of yourself like a professional athlete.

 

[augubhai]

patterns are just a way to categorize different re-occurring price action structures, so dont just stick to traditional patterns, you can make your own patterns.

:clapping:

 

[Vertigo_1985]

Tcs results were also good today, it has been in range of 2320 - 2380 since last 3 days and i am expecting a breakout tomorrow. Plan is same as in Infy that i mentioned in earlier( was also same for HCL) but will repeat few important points-
1. 2320-2380 are the levels - most probable is breakout from this range so 2380 should then act as support. If gap is big then i am expecting some selling first then 2380-2400 holding. If it 2380 is held in morning session then we may see buying in afternoon.
2. 2nd case is that it remains in range in that case too play with 2320-2380 as levels and if higher lows is formed testing 2380 then get ready for big breakout.
3. If it opens below 2320(low probability but who knows what people want so we consider every scenario) then first expectation is of going into range if it doesnt then there maybe panic selling.

Very much tired and need to take a break so done for the day and posting TCS trades now -
The least expected case happened( sustaining below 2320), in INFY too the most probable case didnt happen so need to work on my analysis. But more important thing is to adapt your plans as price action is unfolding which i think i am doing well. The planning is certainly helping me in being aware of bigger picture and taking higher probability trades.

As expected TCS sustained below 2320 and selling panic came, so my bias was short and more momentum then if it would moved up.
One question that is in my mind is that in case of infy, hcl there was breakout from range, in tcs there was breakdown, so would it have been better to just make an entry above/ below range and let the stock do it's thing for rest of day ?

 

[Vertigo_1985]

My learning from trading results day or stocks with pre-session news which results in increased participation by traders.
1. Start with bigger picture first - use daily timeframe to judge the trend, supply and demand levels.
2. Are the results better, equal or lower than expected ?
3. If a stock has been in uptrend then there are high chances that a +ve or equal results are already factored in price. If it's -ve then we may see selling.
Actually news reaction also depend on which stage of uptrend a stock is, if an uptrend has just started then -ve news may not affect and may be just an opportunity to get long(when everyone is calling DOOM, DOOM...), if uptrend has been going for long then +ve news may not create any affect and -ve news may result in panic selling. Similar for a stock in downtrend.
4. Based on above analysis make a plan with different scenarios.
5. Check after pre-market session which scenario is taking place and adapt if necessary.
6. Trading timeframe - 1 min, trade setups - Near S/R zones as per bias, pb and 2 push fail along bias, break of consolidation zone along bias.
Entry - break above/below signal candle.
Stop loss- above/below signal candle.
Target - as per levels.

 

[amitrandive]

3. If a stock has been in uptrend then there are high chances that a +ve or equal results are already factored in price. If it's -ve then we may see selling.
Actually news reaction also depend on which stage of uptrend a stock is, if an uptrend has just started then -ve news may not affect and may be just an opportunity to get long(when everyone is calling DOOM, DOOM...), if uptrend has been going for long then +ve news may not create any affect and -ve news may result in panic selling. Similar for a stock in downtrend.

Target - as per levels.

Fantastic!!:clap::clap::clap:
This is what actually the institutions do .They jack up a stock prior to good results and on declaration of results start booking profits and viceversa.

 

[niftytaurus]

Hi Virtigo bhai
thanks 4 ur quick & kind reply..
I have some queries...
a) As u said ,u do trading 5-6 scrips trade simultaneously..how do u manage to look charts of 5-6 scrips altogether ?
b) how do u choose scrips for trading for a particular day?
Thanks

 

[Cubt]

My learning from trading results day or stocks with pre-session news which results in increased participation by traders.
1. Start with bigger picture first - use daily timeframe to judge the trend, supply and demand levels.
2. Are the results better, equal or lower than expected ?
3. If a stock has been in uptrend then there are high chances that a +ve or equal results are already factored in price. If it's -ve then we may see selling.
Actually news reaction also depend on which stage of uptrend a stock is, if an uptrend has just started then -ve news may not affect and may be just an opportunity to get long(when everyone is calling DOOM, DOOM...), if uptrend has been going for long then +ve news may not create any affect and -ve news may result in panic selling. Similar for a stock in downtrend.
4. Based on above analysis make a plan with different scenarios.
5. Check after pre-market session which scenario is taking place and adapt if necessary.
6. Trading timeframe - 1 min, trade setups - Near S/R zones as per bias, pb and 2 push fail along bias, break of consolidation zone along bias.
Entry - break above/below signal candle.
Stop loss- above/below signal candle.
Target - as per levels.

Perfect explanation! ! Good one, Vertigo.

 

[saakk]

Plz mark were you enter and exit....
Thanks