Learning to catch High Probability Breakouts

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amitrandive

Well-Known Member
#1
Dear All

I wish to learn to catch High Probability Breakouts(both Long and Short).I will be posting some charts based on some very simple indicators like 20 day Moving Average,Volume,Fib Levels,etc.

Most of my understanding of Technical Charts has been from Traderji forum from the threads of very respected Seniors.

I invite all members to comment and guide.

Please note this is only for education purposes and I will not have any real positions in these Stocks.
 

jetking

Well-Known Member
#2
Dear All

I wish to learn to catch High Probability Breakouts(both Long and Short).I will be posting some charts based on some very simple indicators like 20 day Moving Average,Volume,Fib Levels,etc.

Most of my understanding of Technical Charts has been from Traderji forum from the threads of very respected Seniors.

I invite all members to comment and guide.

Please note this is only for education purposes and I will not have any real positions in these Stocks.
good initiative dear Amit

waiting for your input
 

amitrandive

Well-Known Member
#3
Potential Breakout Candidate

Aditya Birla Nuvo

BSE: 500303 | NSE: ABIRLANUVO | ISIN: INE069A01017 | SECTOR: TEXTILES - MANMADE



Current CMP:1070
Action:Buy
Stop Loss:1030
Probable Targets: 1160,1200
52 Week High:1291
52 Week Low:930.15

Reasons for trade:Above 20 day Moving average,Rising Volumes,Price forming Higher Low.
 
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rkkarnani

Well-Known Member
#5
Good initiative ! Could never understand B/o's :p
Look forward to some interesting things.
My 2c : In Abirlanuvo, I dont see the volumes as rising volumes ! Volumes on 21st are tooooo BIG ! 22nd has low volumes, it was a Saturday.
24th Volumes rose
25th Volumes were higher than 24th
26th Volumes were higher than 24th but lower than 25th
27th Volumes were higher than 26th but lower than 25th
(So volumes on both 26th and 27th are lower than 25th)
28th Volumes are slightly higher than 25th !
So, if volumes are not rising, do we proceed a bit cautiously?
What else do we focus on when looking for Breakouts?
And you probably meant : It is making Higher Lows (not Lower Lows) :)


Also as we are also looking for Short trades, shouldnt we consider Future values rather than Spot/Cash??
 

XRAY27

Well-Known Member
#6
Dear All

I wish to learn to catch High Probability Breakouts(both Long and Short).I will be posting some charts based on some very simple indicators like 20 day Moving Average,Volume,Fib Levels,etc.

Most of my understanding of Technical Charts has been from Traderji forum from the threads of very respected Seniors.

I invite all members to comment and guide.

Please note this is only for education purposes and I will not have any real positions in these Stocks.
Nice to see a thread on "Breakout" .... i'm basically nifty future trader and i learn new things with this thread..
Thanks for starting this thread .....Amitji
 

amitrandive

Well-Known Member
#8
Good initiative ! Could never understand B/o's :p
Look forward to some interesting things.
My 2c : In Abirlanuvo, I dont see the volumes as rising volumes ! Volumes on 21st are tooooo BIG ! 22nd has low volumes, it was a Saturday.
24th Volumes rose
25th Volumes were higher than 24th
26th Volumes were higher than 24th but lower than 25th
27th Volumes were higher than 26th but lower than 25th
(So volumes on both 26th and 27th are lower than 25th)
28th Volumes are slightly higher than 25th !
So, if volumes are not rising, do we proceed a bit cautiously?
Yes Sir, that is why the stop loss is very near.We can go adding on when it actually breaks out.
What else do we focus on when looking for Breakouts?
Ideally We would like to enter where the risk reward is high.Then again I may be wrong.:D.But I feel I am in a learning process of trying to catch these breakouts.
And you probably meant : It is making Higher Lows (not Lower Lows) :)
Yes,you are correct I have made the changes.:D

Also as we are also looking for Short trades, shouldnt we consider Future values rather than Spot/Cash??

Absolutely right Sir !!!.I will be posting Futures Charts.My initial purpose was to learn breakouts for investing purposes.
rkkarnani Sir

Thanks for your feedback!!!My replies in red.
 
#10
Potential Breakout Candidate

Aditya Birla Nuvo

BSE: 500303 | NSE: ABIRLANUVO | ISIN: INE069A01017 | SECTOR: TEXTILES - MANMADE



Current CMP:1070
Action:Buy
Stop Loss:1030
Probable Targets: 1160,1200
52 Week High:1291
52 Week Low:930.15

Reasons for trade:Above 20 day Moving average,Rising Volumes,Price forming Higher Low.
@Amitrandive

I would say you can add the following chart pattern to your view, as the chart shows also an "Ending diagonal triangle". Not exact the same like in the screen shot I post, but all the rest is similar to it:



http://thepatternsite.com/EWDiagTriangle.html
 
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