Can u elaborate more on charts.
i didnt understood.
Hi,
Interesting charts are in the sense which have turned my dreams flat for the day.
Obviously there are underlying lessons to be learnt for future course of action.
Anyway, I will explain here in simple words.
First post relates to One hour Breakout Strategy of Badlab.
Unitech had a smooth breakout and met with target.
Second chart had a whipsaw and I had a kick in the stomach.
Second post does not relate to One hour breakout Strategy as it is 15 m chart.
As per my observation goes, 15 min chart usually breakout in wrong direction in intraday charts. That is to suck in novice or less experienced traders money in the wrong direction. When the novice got struck in the wrong direction, it becomes easy for smart money to accumulate the stock and place a big order to change the direction making the dumb money panicky and run for covering the losses. This action only fuels the action of smart money and the stocks reverse move fuels like a rocket. Thatz depicted in the second chart.
There are occasions, when 15 min chart whipsawed, 2 or 3 times before taking a direction. Afterall its a psychological game to be played.
My comments attached to the chart is my experience in a nutshell. Thatz it.