Price action with Candlestick Analysis(No indicators)

[hik]

oh very good.if you find anymore interesting company ,then post.
post the charts of the companies you regullarly trade or positions you are holding.

 

[gurmy.]

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[poortrader]

Just learn to spot these levels ,ur trading would see tremendous success, the trade im going to post is all you need for a single month. 1 trade like this , its enough , you will enough for a month.:thumb::thumb::rofl:
This is a weekly , One tip If you spot levels and enter on a weekly chart then targets shuld be placed on weekly chart only.

upload pic:clap::clap:

image upload:clapping:

Nice illustrations.

It would be interesting as to know how good Risk Reward trades will create problems for traders!

Of course targets should be logical. But nothing is certain in trading, so if the (logical) targets give good rewards one should take the trade, and if (logical) target is not covering our sl, it may be wise not to take those trades.

 

[mew]

oh very good.if you find anymore interesting company ,then post.
post the charts of the companies you regullarly trade or positions you are holding.

sir,what stocks in your trading rador.tell the names list.And tell the set up i mean some stocks need watch 1hour break,some stocks daily to get sup and res level,some stocks weekly res and sup,some month chart.kindly tell. for example hour 1 break point is best for BHEL .like that

 

[hik]

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Nice Chart Gurmy.yes it rallied to the resistance (it still has room to go up you see a long bar right?13300)), we have to wait for the Obvious candle stick pattern on a weekly or daily for entering short.The candle has to be very big and nicely bcoz we are trading against the last swing up. Wait a week or two we can see nice price action .

If price breaks the resistance and goes up,we know what to do , just wait for the retest of the ((Resistance turned)) support on Daily.
The levels you marked are perfect .They can be used as a targets.

 

[hik]

Nice illustrations.

It would be interesting as to know how good Risk Reward trades will create problems for traders!

Of course targets should be logical. But nothing is certain in trading, so if the (logical) targets give good rewards one should take the trade, and if (logical) target is not covering our sl, it may be wise not to take those trades.

Setting of a perfect R:R on every trade is a suicide.
The amount (%) of capital YOU risk per trade is Important not R:R.
For exampe if risk Rs:10,000 and I place a trade ,Guess what i need Rs;20,000
for decent ratio, but the next support/resistance level is just Rs;2,000 away.
Even if its a perfect entry,price is determined to stall at the next supp/ress levels.
MArket Dont give a damn of your 2:1 or 3:1 ratios.or even respect your stoploss.
If buyers buy more it rallies, sellers sell more it declines thats it.As simple as that.

Yes you are Right , if next logical level is too close , its better to leave the trade,coz price might stall anyway. why buying /selling straightly into a hurdle.??

 

[hik]

sir,what stocks in your trading rador.tell the names list.And tell the set up i mean some stocks need watch 1hour break,some stocks daily to get sup and res level,some stocks weekly res and sup,some month chart.kindly tell. for example hour 1 break point is best for BHEL .like that

Mew,Please no "sir" business here.Iam a student too not a master.Remember this,
if you are marking your supp/ress levels on a weekly chart then it means that u want to be in trade for 1-4 weeks depending on the price movement.your targets should be in weekly.and always use multipe lots and multiple targets . once 1st target is reached the rest of the lots you breakeven .Thats means you dont lose anymore.:thumb:

If you are marking logical sup/ress levels on daily then you will hold it for days.
And you will go for INTRADAY timeframe just to get an EARLY ENTRY. If you think you need guarented proof that price reverses,then wait for daily candle to finish. Thats it.Daily candle is More reliable than intraday candle.It all depends on the style you trade.Aggressive/conservative.

the company charts that i posted in here are indeed provided by youtrader metatrader platform demo charts.They are all futures.Pick a company with decent volume.Thats it bcoz i dont have much knowledge about volume & picking best companies to trade.Ask any other guys. This Method can be applied to any financial instrument .Just post any chart >>mark support/resistance level .
TAKE AS MANY CHARTS AS YOU CAN JUST MARK THE LEVELS.
(1.)Buy from support,sell from resistance.
(2.)if price broke support/resistance then wait for retest.
(3.)Always be with the trend. If you intend to trade against trend go with a tight stop, although i'd leave the trade.

 

[gurmy.]

Nice Chart Gurmy.yes it rallied to the resistance (it still has room to go up you see a long bar right?13300)), we have to wait for the Obvious candle stick pattern on a weekly or daily for entering short.The candle has to be very big and nicely bcoz we are trading against the last swing up. Wait a week or two we can see nice price action .

If price breaks the resistance and goes up,we know what to do , just wait for the retest of the ((Resistance turned)) support on Daily.
The levels you marked are perfect .They can be used as a targets.

HIK,

in Bank nifty daily,the price has been rejected 3 times in a week and finally close near the low of the week.

moreover last candle is a big bear engulfing candle

so if this candle low is breached on monday,should we not enter short?

thanks

 

[hik]

Yes,considering the level and the size of the engulfing bar,Its better to take the trade if the break of low of that engulfing bar, and stop loss at high of the candle.But still, the fact that price never touched the 13300 resistance is irking me a bit.
A shooting star(on a weekly/daily) with long wick touching the 13300 might occur and our stop would be taken out. it would be worth waiting considering the targets.

If i really wanted to trade that, i would wait one more week,since our targets are on weekly chart.
If that bearish engulfing was formed on a weekly chart then definitely i would have taken the trade.I dont know whether if you are biased towards it, but if you are looking for short opputunities then look at
tata.st weekly,
See Relinfra weekly :big obvious rejection.
Reliance WEEKLY
SAIL WEEKLY(http://www.traderji.com/technical-a...estick-analysis-no-indicators.html#post758347)
SBI WEEKLY
Remember these trades you shld hold them 1-4weeks .Enormus amounts of Money.These are quite risky reversal trades,but the risk pays off in the end.

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[hik]

This is a conservative way of playing.
Taking the retest of the old support turned resistance and vice versa.
we can hold it for days.

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