Learning to catch High Probability Breakouts
- Thread starter amitrandive
- Start date
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Weekly chart of Bhel-I
In strong downtrend on all time frames.
On the Weekly chart looks a support of around 150 levels.if this breaks the next level is around 100.
On the Weekly is in a descending wedge,it may break out on the upside.
The lower volumes may suggest a selling climax ,so need to be careful in shorting.Play with strict stop losses.
Generally I never go long in a weekly downtrend.
Disclaimer:This is for educational purpose only.
In strong downtrend on all time frames.
On the Weekly chart looks a support of around 150 levels.if this breaks the next level is around 100.
On the Weekly is in a descending wedge,it may break out on the upside.
The lower volumes may suggest a selling climax ,so need to be careful in shorting.Play with strict stop losses.
Generally I never go long in a weekly downtrend.
Disclaimer:This is for educational purpose only.
Technical analysis , simple or complex ?
Daily Chart of Nifty
Is Techncial Analysis simple or complicated?
Were we not able to spot the short at the two places indicated solely based on support/resistance, moving average and price action?
Traders may say, there are many places this support was broken.
But pullpacks to major moving averages at important support level,if that is not a high probability trade what is ?
Things are simple as they are, we tend to make them more complicated.
"Simplicity is the best sophistication"
Daily Chart of Nifty
Is Techncial Analysis simple or complicated?
Were we not able to spot the short at the two places indicated solely based on support/resistance, moving average and price action?
Traders may say, there are many places this support was broken.
But pullpacks to major moving averages at important support level,if that is not a high probability trade what is ?
Things are simple as they are, we tend to make them more complicated.
"Simplicity is the best sophistication"
u can see price showing no respect for 100 DMa, so it might be suicidal to short every time around 100 Ma,
Also in second chart u can see the bar near resistance is green bar so there might be chance that it may cross resistance next day, so people try to take a close for second day which closed around 7800, so it can be calculated a good 200 point sl around 8000.
Weekly chart of Bhel-I
In strong downtrend on all time frames.
On the Weekly chart looks a support of around 150 levels.if this breaks the next level is around 100.
On the Weekly is in a descending wedge,it may break out on the upside.
The lower volumes may suggest a selling climax ,so need to be careful in shorting.Play with strict stop losses.
Generally I never go long in a weekly downtrend.
Disclaimer:This is for educational purpose only.
In strong downtrend on all time frames.
On the Weekly chart looks a support of around 150 levels.if this breaks the next level is around 100.
On the Weekly is in a descending wedge,it may break out on the upside.
The lower volumes may suggest a selling climax ,so need to be careful in shorting.Play with strict stop losses.
Generally I never go long in a weekly downtrend.
Disclaimer:This is for educational purpose only.
BHEL my sense....113.20 may test and go up again to 162 level....
Any rally sold into till 113.20....
The above levels are my view and not a trading call....
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