Technical Analysis - Practice trades

mindgames

Well-Known Member
#1
Hello,

Will be posting technical analysis of my practice trades here. Areas covered would mainly be:

1/ Candlestick analysis
2/ Supports & Resistance
3/ Chart Patterns
4/ Technical indicators

Disclaimer: Newbie here. Please don't consider these as trade recommendations :p

Ps: Feel free to provide suggestions / comments / advice
 

mindgames

Well-Known Member
#2
1/ Seems to be forming a triple top @ 418-430 levels after Sep-14 & Apr-15.

2/ Last high was made @435 at a very high volume of ~68m. On the day, stock closed ~10 bucks lower from the high (losing ~30% of the day's gains)

3/ A week of dojis and spinning tops after the long candle day. Bullish uncertainty? or are they consolidating?? Also, is there a bearish harami?

4/ Last two candles are dropping. Bulls haven't given up yet though - low of the long candle of 29th @ 403 hasn't been breached yet (bears did test it though!).

5/ On the verge of an MACD crossover? 9 day EMA is still above the 26 day EMA.

As of now, have a bearish view of the stock....

 
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mindgames

Well-Known Member
#3


1/ Almost formed an engulfing pattern on 5th. Was following the stock - however it evolved into an unconvincing piercing pattern pattern in the last hour. Long upper shadow - better to avoid.

2/ Medium red candle the next day. Prices falling lower.

3/ Opened lower. Bullish piercing pattern again on 9th. Not a strong close yet again. Volumes not good too.

4/ Both these patterns are incidentally near Dec-14 swing high. Will it find support here??

No entry as of now....
 
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#4
Sorry, to post ones view on a scrip is not allowed.
But do not agree with last line of your post #2.
 

mindgames

Well-Known Member
#5


This is interesting....

1/ From late Dec-14 to May-15, for 6 months, Coal India made an assault on 400, five times - succeeding on the last attempt.

2/ After the break on a long candle, a shooting star (~50% shadow) showing prices couldn't hold. A doji next day, conveying uncertainty. Incidentally this activity is taking place near Jun-14's highs.

3/ Stock already breached 400 y'day and day-before but managed to close above that mark on both days.

No entry as of now...
 
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mindgames

Well-Known Member
#6
Sorry, to post ones view on a scrip is not allowed.
But do not agree with last line of your post #2.
You mean you are bullish? - i'm quite unsure too. Dicey in my view as of now though a little bearish after past 2 candles.

I'm not sure about posting views on a scrip - these is just practice analysis and not a trading call...is that unacceptable?
 
#7
Where did I say so. Please do not put your words on my sentence. :)
 

mindgames

Well-Known Member
#8
1/ Seems to be forming a triple top @ 418-430 levels after Sep-14 & Apr-15.

2/ Last high was made @435 at a very high volume of ~68m. On the day, stock closed ~10 bucks lower from the high (losing ~30% of the day's gains)

3/ A week of dojis and spinning tops after the long candle day. Bullish uncertainty? or are they consolidating?? Also, is there a bearish harami?

4/ Last two candles are dropping. Bulls haven't given up yet though - low of the long candle of 29th @ 403 hasn't been breached yet (bears did test it though!).

5/ On the verge of an MACD crossover? 9 day EMA is still above the 26 day EMA.

As of now, have a bearish view of the stock....


Opened higher than y'day's close but struggled @ 419 and closed @ 415. Still questionable. No entry yet.
 

mindgames

Well-Known Member
#9
1/ Almost formed an engulfing pattern on 5th. Was following the stock - however it evolved into an unconvincing piercing pattern pattern in the last hour. Long upper shadow - better to avoid.

2/ Medium red candle the next day. Prices falling lower.

3/ Opened lower. Bullish piercing pattern again on 9th. Not a strong close yet again. Volumes not good too.

4/ Both these patterns are incidentally near Dec-14 swing high. Will it find support here??

No entry as of now....


Higher close than yday. A small spinning top. Does not inspire confidence. No entry yet...
 

mindgames

Well-Known Member
#10
This is interesting....

1/ From late Dec-14 to May-15, for 6 months, Coal India made an assault on 400, five times - succeeding on the last attempt.

2/ After the break on a long candle, a shooting star (~50% shadow) showing prices couldn't hold. A doji next day, conveying uncertainty. Incidentally this activity is taking place near Jun-14's highs.

3/ Stock already breached 400 y'day and day-before but managed to close above that mark on both days.

No entry as of now...


Gap open. Until the last hour, it was going to be a shooting star with a long shadow - in fact though it might close lower at one point. Planned an entry but @ 3.20 stock made a surge to reduce shadow length. Not sure of this one...turning bullish from 50-50?!
 

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