Learning to catch High Probability Breakouts

[niftytaurus]

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.

Hi
Thanks for your wonderful thread..it will be really helpful in learning price action ..new or experience traders all will get benefit to select stock for coming days trading
thanks

 

[Snake.Head]

Thanks for taking your time.
Looking forward to thread

 

[amitrandive]

@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

Somatung

Thanks for the Image and the Link.I am sure with feed-backs like these and interactions from all members, We all can strengthen/improve our chart reading skills.
:clap::clap::clap:

 

[jahan]

Somatung

Thanks for the Image and the Link.I am sure with feed-backs like these and interactions from all members, We all can strengthen/improve our chart reading skills.
:clap::clap::clap:

Hello,
Amitrandive,

if u will not disappoint...i want to tell u one thing ....IMO these trendline,elliot or Gann stuff no more works..... to reduce ur learning period iam telling you....these methods involve discretionary decisions...which will give away all ur past profits acquired..... in a single trade.

if u really want to be a Breakout trader use Donchian channels or bollinger techniques or use simply supp/resi techniques which are very objective in nature and involves less mental stress...Try to become a strategic Trader.

people only know Warren buffet..but don't know the man behind him(a strategic advisor).

regards,

 

[SaravananKS]

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 amitrandive looking for yet another gem from you. :thumb:

 

[amitrandive]

Hello,
Amitrandive,

if u will not disappoint...i want to tell u one thing ....IMO these trendline,elliot or Gann stuff no more works..... to reduce ur learning period iam telling you....these methods involve discretionary decisions...which will give away all ur past profits acquired..... in a single trade.

if u really want to be a Breakout trader use Donchian channels or bollinger techniques or use simply supp/resi techniques which are very objective in nature and involves less mental stress...Try to become a strategic Trader.

people only know Warren buffet..but don't know the man behind him(a strategic advisor).

regards,

jahan Sir

There is no question of disappointment.The reason I have started this thread is that I want to learn trading breakouts by any type of analysis.

It does not matter which type of analysis gives the end results.It does not even matter if Aditya Birla Nuvo does not breakout.My intention is not to use any complicated analysis or indicators and keep it simple.

Also what really matters is that how to catch these Stocks before they actually breakout.I am sure all types of traders rely on some kind of breakouts to take a trade.

I want all seniors to contribute/add/criticize/enhance this thread with their frank opinions.That is the only way to grow as a Trader.

 

[amitrandive]

Hello,
Amitrandive,

if u really want to be a Breakout trader use Donchian channels or bollinger techniques or use simply supp/resi techniques which are very objective in nature and involves less mental stress...Try to become a strategic Trader.
regards,

jahan Sir

Please provide some links/inputs for the above mentioned areas to develop as a Strategic Trader.

 

[jahan]

jahan Sir

Please provide some links/inputs for the above mentioned areas to develop as a Strategic Trader.

Hello,

Offcourse.....why not ....as i can see ur interested in daily/eod charts from ur previous posts....so iam assuming ur EOD trader....ok i will provide a strategy its not mine...its belong to Nick Radge(Australian famous Trader).....as this strategy is written in his famous book "UnHoly grails".

it uses Bollinger Bands..... the top band is plotted with 100 periods 3 Std-Dev and bottom band is with 100 periods 1 Std-Dev the system is long only..the system Buys when close is above or equal to top band and ...exit the trade when close is equal or below to the bottom band.

and the Bollinger Breakout Amiroker Afl is ......

//jahan_NickBB

bbt = BBandTop( C, 100, 3 );
bbl = BBandBot( C, 100, 1 );
Plot( bbt , "" ,colorRed,styleThick|styleLine );
Plot(bbl,"",colorBlue,styleThick|styleLine);

Buy=C>=bbt;
Sell=C<=bbl;

Buy=ExRem(Buy,Sell);
Sell=ExRem(Sell,Buy);

PlotShapes(IIf(Buy, shapeUpArrow,shapeNone),colorGreen,0,L,Offset=-20);
PlotShapes(IIf(Sell,shapeDownArrow,shapeNone),colorRed,0,H,Offset=-20);
//

if u want to backtest u need to add ur desired position sizing method at the top of this code......the code is exactly the same mentioned in his book.....but he later modified it and the modified code is not mentioned in his new releases...he put this new system in sales section... i didn't bought it because iam not a EOD trader...i just bought the book as usual...and some of the information holds weight for every kind of trader.

As u can see the System has very little maintenance...u just need to open ur charting software after the session,and simply buy the Scrip on open of next morning.

Hope this Helps......and if ur curious u can also find Donchian Channel or Supp/Resi systems if u google it.

Regards,

 

[DSM]

Amit, I have posted the the chart of Ambuja Cements with notes in my thread, but this patterns qualifies as Low Risk High Probability breakout, hence posting here as well.

 

[amitrandive]

Hello,

it uses Bollinger Bands..... the top band is plotted with 100 periods 3 Std-Dev and bottom band is with 100 periods 1 Std-Dev the system is long only..the system Buys when close is above or equal to top band and ...exit the trade when close is equal or below to the bottom band.

and the Bollinger Breakout Amiroker Afl is ......

//jahan_NickBB

bbt = BBandTop( C, 100, 3 );
bbl = BBandBot( C, 100, 1 );
Plot( bbt , "" ,colorRed,styleThick|styleLine );
Plot(bbl,"",colorBlue,styleThick|styleLine);

Buy=C>=bbt;
Sell=C<=bbl;

Buy=ExRem(Buy,Sell);
Sell=ExRem(Sell,Buy);

PlotShapes(IIf(Buy, shapeUpArrow,shapeNone),colorGreen,0,L,Offset=-20);
PlotShapes(IIf(Sell,shapeDownArrow,shapeNone),colorRed,0,H,Offset=-20);
//

Regards,

jahan Sir

Thanks for the AFL.