As I said earlier today, volume plays a very important role in breakouts. you see an upward breakout and the price closed a candle above the pennant but without any considerable volume, and it reversed all the way down. Good Luck With Your Trades. ;)
.618 Fibonacci Retracement Most Popular Retracement Important retracement for a stock that is selling off after completing a good Rally. #BharatForge is a perfect example of .618 Bullish Retracement and its amazing to see how prices rallied after hitting .618 retracement Trade Consideration ( Refer Chart ) Point #1 : A good rally Point #2 : A sharp Sell-off Point...
Here we have Really good Setup and price also holding Very well 1) we have very big Wick (shadow) Candle this is the alert time in any trade. 2) we have doji which is for reversal (not all the time) but Volume is good 3) we made bullish candle and bouncing from Support support is Solid. so when we find the good Support we are ready to buy the retest as always...
-When there is a consolidation happening on a pair, this would be an excellent opportunity to look for a breakout and a reversal of the support/resistance of the consolidation box. -For these types of setups we need be patient and see how price will move to either the upside or downside. -Once we see a breakout of the consolidation box then it is essential to wait...
Classic Rounding Top Formation on since 2009 - 2016 Neckline Price Breakout Continious downtrend since then.
Inverse Head & Shoulder Pattern Tutorial - Invesre Head & Shoulders pattern is similar to Head & Shoulders pattern but reversed. The inverse Head & Shoulders is observable in a downtrend and indicates a reversal of a downtrend. The formation of a Inverse Head & Shoulders pattern resembles a baseline or neckline with three bottom where the middle bottom is the...
Big bars are the bane of my existence. I don't trade them with ANY of the set-ups I currently use. Do you? let me know your strategy below.
very bullish market that makes it difficult for buyers and sellers
What we term as a 'shoulder' (Lower High/Higher Low) is a prime entry setup with statistically high probability. The important thing to note is that it is used in conjunction with price action to correctly identity when traders are being 'caught off-guard' on the wrong side of the action and forced to close. We like to term it the 'sweaty palm' feeling when you...
The 0.618 retracement level held and the price broke the Parabolic SAR levels as discussed last week. The market played out with Scenario A and continued to sell off towards the 1.3000 level. This week we have NFP data released which will give the EURUSD a push. Scenario A: Continued strength in the USD could see the market move lower than 1.3000 and head...
Good morning, traders. Bitcoin made a strong move this weekend. Make no mistake, it's been tough as there has been significant resistance, but price has moved up in spite of that and is now sitting just above the two month long descending channel resistance. In making this move, price has pushed beyond the green price target from last week and is above the daily...
Some of my favorites Pattern trades right here. Learn the market pattern and you will make money on the same plays over and over again. Pattern recognition is really important and when I started, i overlooked it and struggled with it, but once you start seeing these pattern in real time on real charts, game is gonna change. Trust me
I know the notations and names are not technical, but just a begginer guide on how to taste a trading range like a complex wine instead of being afraid of it!