Trading Strategies Using Technical Analysis
- Thread starter SwingKing
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re: "Trading Strategies Using Technical Analysis".
it is much better if you try to figure the formations ur self....it will give you practice and help identify the trend for this patter....try to identify it on various time frames like on intraday, daily or weekly charts....try to figure out what they do on specific movement...if opposite is occuring in the formation then try to look for the reason for opposite movement....hope you will find the answer....more you will analyse more you will kno.w....just do your homework.....later
it is much better if you try to figure the formations ur self....it will give you practice and help identify the trend for this patter....try to identify it on various time frames like on intraday, daily or weekly charts....try to figure out what they do on specific movement...if opposite is occuring in the formation then try to look for the reason for opposite movement....hope you will find the answer....more you will analyse more you will kno.w....just do your homework.....later
15-Min breakout Setup
15- Min Breakout Setup
Tools Candlestick/Bar Chart
Trade Setup This pattern is very similar to the horizontal intraday pattern discussed earlier. The difference lies in the time frame (15-Min). Since the pattern forms over 3-4 days, it is more reliable than the intraday setup. The pattern to look out is usually a horizontal range in which the particular entity trades and then gives a breakout in either direction. It is not necessary to select high beta stocks in this case. The pattern completes (breakouts) on a single day and the position for the same can be closed out as the day progresses.
Time Validity - Time validity of this pattern is extremely effective on 15- Minute charts. This range is built up typically every month on stocks which are seeing a consolidation or range movement. Once you get an eye for this pattern, you will see it occurring on a regular basis.
How to trade it - Refer to the chart below. ABAN gets in a range for 3-4 days continously. Then it eventually breaks out on huge volumes. This is a typical setup and the stock should be bought at the breakout. I have not used any indicator on purpose as there is no need to complicate the pattern.
Target - I dont believe in predicting the target. Hence, what I do is I square off my position once the stock moves 1-2%. For those who believe in targets, you can add the range of the pattern to the breakout point. The stock usually goes to that level. In ABAN's case, the range is 33Rs and it breaksout at 1186. Hence add 33 Rs to 1186 and that should be your target.
STOPLOSS - I would prefer not to refer to stop loss levels as every trader is different in having his own rules of money management. Please use your own rules for managing equity. I split the range of the pattern into half and the number of points I get is my stoploss.
Usage - This pattern is effective 15-Min chart. Every now and then you will find stocks which exhibit this pattern. I usually look at all the stocks that are in the futures segment.
15- Min Breakout Setup
Tools Candlestick/Bar Chart
Trade Setup This pattern is very similar to the horizontal intraday pattern discussed earlier. The difference lies in the time frame (15-Min). Since the pattern forms over 3-4 days, it is more reliable than the intraday setup. The pattern to look out is usually a horizontal range in which the particular entity trades and then gives a breakout in either direction. It is not necessary to select high beta stocks in this case. The pattern completes (breakouts) on a single day and the position for the same can be closed out as the day progresses.
Time Validity - Time validity of this pattern is extremely effective on 15- Minute charts. This range is built up typically every month on stocks which are seeing a consolidation or range movement. Once you get an eye for this pattern, you will see it occurring on a regular basis.
How to trade it - Refer to the chart below. ABAN gets in a range for 3-4 days continously. Then it eventually breaks out on huge volumes. This is a typical setup and the stock should be bought at the breakout. I have not used any indicator on purpose as there is no need to complicate the pattern.
Target - I dont believe in predicting the target. Hence, what I do is I square off my position once the stock moves 1-2%. For those who believe in targets, you can add the range of the pattern to the breakout point. The stock usually goes to that level. In ABAN's case, the range is 33Rs and it breaksout at 1186. Hence add 33 Rs to 1186 and that should be your target.
STOPLOSS - I would prefer not to refer to stop loss levels as every trader is different in having his own rules of money management. Please use your own rules for managing equity. I split the range of the pattern into half and the number of points I get is my stoploss.
Usage - This pattern is effective 15-Min chart. Every now and then you will find stocks which exhibit this pattern. I usually look at all the stocks that are in the futures segment.
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