Breakout

Hi Somatung,

Thanks for your comments.

Yes, agree that Tata Steel is in uptrend on daily, but I try to avoid anticipating for intraday and trade as it comes. Even I trade breakout failures of range extremes, but decided not to include those trades in this tread.

I avoid looking patterns within trading range. Even when they are reliable, I try to exit at range extremes.

Sometimes there are ranges within ranges, just have a look at following AmbujaCem chart.

Do welcome comments (negative or positive).

Thanks and Regards

@Shantala

Some questions if you allow:

1. Do you trade all those scripts you show? or is this more of educational purpose? If so, no problem with that.

2. Is it possible for you to also show the volumes traded on those candles in your charts you show?

3. Do you use any momentum indicator and if not: Why?

When ever your time permits and you feel to take the time to do a post in TJ.

Somatung

1. Monitor 20 scripts for intraday, but do not trade all everyday. Concentrate more on charts with less overlapping candles and breaking some trading range.

2. It is possible to show volumes, but I do not use volume. Tried normal volumes as well as Better Volume indicator but not successful.

3. I do not use any momentum indicator. Tried, but not successful.

Most trades are based on Al Brooks concepts.

Shantala

What is the basis of the Red Box above ?

Where the breakout actually takes place ?

How is the Red Trend line drawn in what time frame,need a bigger picture for the trendline ?

Amitrandive,

Red box is trading range.

Breakout is from trading range.

Trendlines and other things are irrelevant. All are 5 minute charts.

Concept:
1) Find the trading range.
2) Find breakout from the trading range.
3) Long Al Brooks H2/H1 or short L2/L1.

BankIndia H2 long.

TataSteel
First trade H1 long, exact TSL hit
Second trade H2 long

hi Shantala pls posted ur old charting afl pls