Learning to catch High Probability Breakouts

[amitrandive]

Amit ji

you talked about taking action on higher high / higher low i.e. on pivot basis, can you share some good article on better understanding of them,

AnilJi

There are many articles on the internet ,if you google.

Sharing a couple of good links.

http://en.wikipedia.org/wiki/Price_action_trading
http://www.learntotradethemarket.com/forex-trading-strategies/price-action-trading-strategy

Bullish Swing Trading

Bearish Swing Trading

 

[anilnegi]

Amit ji

very good explanation with pic but how to differentiate between small pivot and a large pivot i mean valid pivot etc. i google same but there are not 100 but thousand of article so dont know what to read, really confusing.

thanks

 

[amitrandive]

Amit ji

very good explanation with pic but how to differentiate between small pivot and a large pivot i mean valid pivot etc. i google same but there are not 100 but thousand of article so dont know what to read, really confusing.

thanks

AnilJi

Pivot point topic is very exhaustive.You can search for Saint's methods in this forum.
Flow method,Ambush method are methods which use visual pivots.
SavantGarde's thread is also very good.

http://www.traderji.com/day-trading/9110-nifty-intraday-pivot-points-429.html#post62668
http://www.traderji.com/day-trading/24071-going-intraday-mini-flow-2641.html#post218318

 

[amitrandive]

 

[saravkarun]

Great explanation with charts sir.....You are enlightening people like me. Keep up the good work....

 

[amitrandive]

...contd

3)Breakouts

Breakout of what? Of any support or resistance. It does not matter. Every trend bar is a breakout of something, if only the high or low of the prior bar. With experience, traders begin to see what is truly being broken out. The most common things are trading ranges, pullbacks, prior highs and lows, trend lines, channels, and moving averages. Sometimes traders need to switch to a higher time frame to see the breakout. Among the 10 best price action trading patterns, breakouts are my favorite because I like high probability trades.

The market broke below the green bottom of a tight bull channel and then below the moving average. On the way up, it first broke out of a tight bear channel (not shown), a prior minor high, the moving average, the red bear trend line, and a significant lower high from the prior leg down (pink line).

 

[amitrandive]

Dear Amit Sir

While reviewing EOD chart of ONGC today can we consider this as bullish Piercing pattern and yesterday as support and take a decision on long position.

I wanted to post a chart but I do not know how to do it quickly. I will learn and post chart for next query.

Sorry

Regards

Mukesh

Green candle with long upper shadow followed by a red candle indicates weakness. Long position for trading will be above the green candle's high. Short below support line.

Mukesh

I usually do not follow candlestick patterns.I rely more on support/resistance and price structure on a Monthly/Weekly/Daily charts.

Posting charts of ONGC.Would like to wait for a good bullish structure of higher highs and higher lows before taking a long call.


Weekly Chart of ONGC

Daily Chart of ONGC

ONGC weak structure confirmed as per our analysis.ONGC closed at 345.
Candlestick formation should be near important support/resistence zone.
Check the spinning top around 370 levels on 4th Feb 2015.
A great reason for shorting the next day.
Daily Chart of ONGC.

Lesson learnt : Price Action is the Ultimate indicator and a Holy Grail.
Candlestick formations are significant but they should occur near important support or resistance zone.

 

[amibrokerfans]

i THINK THIS MARKET IS GONE

THIS IS THE START OF A NEW BEAR CYCLE....

cycles exist. but its very hard to find the right one at the right zone.
its over 3 years now i am chasing it with 50% success ratio.

and this time i was lucky

 

[Raghuveer]

Thanks for your post.

Are these private indicators or publicly available?
How to use.

cycles exist. but its very hard to find the right one at the right zone.
its over 3 years now i am chasing it with 50% success ratio.

and this time i was lucky

 

[amibrokerfans]

Thanks for your post.

Are these private indicators or publicly available?
How to use.

dear Raghuveer

sorry, these r private indicators.
but concept is not private.
i believe cycles r not fixed. its dynamic always.and among all dynamic concepts i like mesa most.

how it work : http://www.forexfactory.com/attachment.php?attachmentid=943310&d=1334590301

and http://www.mesasoftware.com/mesa_phasor.htm