Understanding Charts easy way for Beginners

[shk161]

Coin toss with SL
or Kejriwal's even & odd formula.

Super :clap:

 

[shk161]

one cannot know it with certainty but on probability baisis, i use PA and volume/momentum to find whether support and rest will hold or not

regds,s

Sir Ji,

Please explain about PA and volume/momentum here, hope it would help people like me.

Thanks

 

[sherbaaz]

Sir Ji,

Please explain about PA and volume/momentum here, hope it would help people like me.

Thanks

Study Wycliffe course it may take year or so. Study vsa and related stuff. All together may take couple of years.
This is what I have learnt and use in my trading.

 

[shk161]

Support and Resistance - One more example

The following stock chart of Covance (CVD) offers a great example of simple support and resistance. Support and Resistance is a basic form of technical analysis used commonly every day to mark potential buy and sell points on a chart.

Note: this chart of Covance (CVD) is a nine month daily stock chart:

1. The three 1s show us how CVD stock found resistance at $88 three times before finally breaking through. Participating in the break would have yielded an actual return of 10% in only seven days.

2. The four 2s show distinctly how $80 was a key support level for CVD. The stock held up at this price area several times over the course of five months before it finally broke to the upside above $88 a share.

3. The purple 3 shows us where the next resistance area currently is for CVD. Only time will tell if the stock will need another five month base to claim higher highs.

Would be happy to have some healthy discussion on chart characteristics.

Thanks

 

[vagar11]

Support and Resistance - One more example

The following stock chart of Covance (CVD) offers a great example of simple support and resistance. Support and Resistance is a basic form of technical analysis used commonly every day to mark potential buy and sell points on a chart.

Note: this chart of Covance (CVD) is a nine month daily stock chart:

1. The three 1s show us how CVD stock found resistance at $88 three times before finally breaking through. Participating in the break would have yielded an actual return of 10% in only seven days.

2. The four 2s show distinctly how $80 was a key support level for CVD. The stock held up at this price area several times over the course of five months before it finally broke to the upside above $88 a share.

3. The purple 3 shows us where the next resistance area currently is for CVD. Only time will tell if the stock will need another five month base to claim higher highs.

Would be happy to discuss some healthy discussion on chart characteristics.

Thanks

Remove the S&R lines and Give this chart to 10 people they will draw diff lines.

 

[shk161]

Remove the S&R lines and Give this chart to 10 people they will draw diff lines.

Agree, but its the same with any type of chart. We need to figure out the pattern , not necessarily a straight line

 

[vagar11]

Agree, but its the same with any type of chart. We need to figure out the pattern , not necessarily a straight line

Some say S&R is an area rather than a line.

 

[lemondew]

i am also thinking

All breakouts wont work and breakout failures also dont work all times. Breakout failures I call them reversal.

For my mindset. If I can keep on taking all breakouts and many of them fail then I would get confused. Cant continue that way. If I keep on taking all reversals after some failures again it would be same result.

Some breakouts work while some reversals do. A lot of people talk of context on higher timeframe. Some experts also talk of figuring out the trend.

Figure trend
Look at context
Choose breakouts
Choose reversals

Reversals are a little more comfortable as you get a feeling you are catching bottom or top aur kitna jayega neeche Sometimes reversal would never come and breakouts give a lot in a short time.

After all the trouble In the end hopefully we make some money

one cannot know it with certainty but on probability baisis, i use PA and volume/momentum to find whether support and rest will hold or not

regds,s

 

[lemondew]

Xray has a thread on demand supply zones

Some say S&R is an area rather than a line.

 

[lemondew]

Just my views

We are entering into S/R with a downtrend. Move into sideways and then a trendchange. Manytimes there is a complex pullback as well. After a brief trend change signal original trend resumes. What are you guys thoughts on these statements

1. Belief " The trend would continue in the same direction so long as proven otherwise

2. Do you guys look for whether the index is comfortable in its new position after it moves from one structure into another( breakout or reversal)

Support and Resistance - One more example

The following stock chart of Covance (CVD) offers a great example of simple support and resistance. Support and Resistance is a basic form of technical analysis used commonly every day to mark potential buy and sell points on a chart.

Note: this chart of Covance (CVD) is a nine month daily stock chart:

1. The three 1s show us how CVD stock found resistance at $88 three times before finally breaking through. Participating in the break would have yielded an actual return of 10% in only seven days.

2. The four 2s show distinctly how $80 was a key support level for CVD. The stock held up at this price area several times over the course of five months before it finally broke to the upside above $88 a share.

3. The purple 3 shows us where the next resistance area currently is for CVD. Only time will tell if the stock will need another five month base to claim higher highs.

Would be happy to discuss some healthy discussion on chart characteristics.

Thanks