Intraday Stocks for next day

[NogreedOnlyfear]

The LIVE CHART is in 30 minute TF. No indicators applied. 10 MA moving average and Pivot points are there , just to give the clarity of price imbalances. They both are not at all used for trading purpose , as they will give more false signals.

 

[NogreedOnlyfear]

Stock still in the demand zone and creating further buy side liquidity pools. What we see is a pinbar being created , as stock refused to close further down. Also you can see , we are in a breakout of inverted HnS pattern. ( We shall discuss about pattens soon ) .
In order to confirm its not a false breakout, price needs to come out of demand zone with terrific volume. That's all we are waiting for..

 

[timepass]

View attachment 48849

Stock still in the demand zone and creating further buy side liquidity pools. What we see is a pinbar being created , as stock refused to close further down. Also you can see , we are in a breakout of inverted HnS pattern. ( We shall discuss about pattens soon ) .
In order to confirm its not a false breakout, price needs to come out of demand zone with terrific volume. That's all we are waiting for..

Looks like H&S forming with 102 as neckline

 

[NogreedOnlyfear]

Looks like H&S forming with 102 as neckline

Thanks for commenting Timepass

On daily TF ,stock has given an angular breakout. So as an analyst , I can only look at probability here. That's why chose to give importance to inverted H&S.

And what you have said is absolutely right. 102 zone is the neckline. Breakout and pullback to neckline can be a good combo of probability.

 

[timepass]

Thanks for commenting Timepass

On daily TF ,stock has given an angular breakout. So as an analyst , I can only look at probability here. That's why chose to give importance to inverted H&S.

And what you have said is absolutely right. 102 zone is the neckline. Breakout and pullback to neckline can be a good combo of probability.

Perhaps. But also looks like the uptrending channel is broken and a downtrending channel started.

 

[NogreedOnlyfear]

Perhaps. But also looks like the uptrending channel is broken and a downtrending channel started.

View attachment 48852

Yes. The channel indicates a down trend now. There is notable demand levels around 101 and 100 , as you can see , where price tested in the last upmove.only below those levels , we will consider the negative trend channel is active. So far , it's still roaming around the demand zone.

 

[timepass]

Unable to load the chart at present, but is a bigger picture (12-18 months) showing an inverse cup and handle ?

 

[thomasavp]

 

[thomasavp]

1. Trading what you know

Usually traders know how to trade. It's just that they can't win it or atleast win it big. Recent RBI notification also suggests that, more than 80% traders are making losses. They do win... But not consistently. Why that happens... Even when you believe,you know how to trade ? Ironic ... Isn't it?



What about indicators ?

Traders often prepare their charts by plotting various indicators. But they have limited effectiveness due to the high number of false signals it can bring. Every financial Market consist of three seasons. Bull , Bear and Flat. Despite experimenting with various indicators, I still haven't had success with a system of indicators, that provides consistent results in all market seasons.


How about using a hardcore software and a proprietary script to generate signals ?

On the sales pitches and demo reviews, they work wonderful. But realtime trading is another story. Overly complicated systems often do more harm than good.


News , Social media and other forms of media ??

About a month prior , almost all of these 'news agencies' praised Adani Group for being top of the world. What if you invested heavily, just trusting the news ?? Trading based on news, events or even rumours (whether good or bad) is not a reliable strategy. If it were that simple, everyone would be making a fortune. Almost all the people who trade, read news.

Let us start from here. We trade from what all we know. From what the majority of traders know. Then how do you supposed to get an edge ?? How do you stop yourself following the herd.
Hopefully, our next segáment... 'Trading what you see ' can shed some light on that...

 

[NogreedOnlyfear]

Unable to load the chart at present, but is a bigger picture (12-18 months) showing an inverse cup and handle ?

It's C&H. It's long term

Stock already made a distinct sell side liquidity hunt , which was happened in 2018.