Learning to catch High Probability Breakouts

[khurshedmanjra]

KhurshedJi
Ideally Round Top breaks to the bottom

Thank you dear Amit......so a failed rounded top could go upwards....what is your opinion on rounded top in Wipro ?

Regards
Khurshed

 

[rajesh.singh]

Excellent Blog,
Brushing up many things while reading.

Thanks for sharing Bro..... :thumb:

This is the one of the most simple & complete blog I came across in my trading career so far, unfortunately it is not updated since last year but what ever the resource available is more than if one following Price Action, specially for one like Al Brooks style of trading & find difficult to read/ understand Al.

All the best,

 

[amitrandive]

 

[amitrandive]

 

[amitrandive]

 

[amitrandive]

Shared by DSM
http://www.traderji.com/general-tra...money-markets-method-madness.html#post1069370

This Simple “Trick” Made Intraday Forex Trading Profitable…

https://straighttalktrading.wordpres...ng-profitable/

I remember one particular participant at an training event in SE Asia. He shared that he no longer did intraday trading. In fact, he only took trades (quite profitably) on the daily charts. This is the comment he made… “Those fools get caught in the intraday market trading 5-minute and 15-minute charts because they never think to look at what is really going in the market!”

A rather harsh statement, especially since I do trade intraday charts myself! However, he has an important point. Most “intraday traders” get caught up looking at only the lower timeframes. They never realise that intraday movement is determined by the higher timeframes. In this post, I will share a simple trick I learnt from a veteran bank forex trader (yes, an “insider” to the workings of institutional forex) that could change the way you look at intraday trading.

Essentially, intraday trading is taking part in a a bigger timeframe swing. If you are trading counter to the higher timeframe trend, you are probably playing a losing game. Note that trend, cycle and momentum are all considerations, but for now I will share just one trick that will help you massively in deciding the direction of the day.

Before you take an intraday trade, go to the daily chart. Place two simple moving averages on it: a 5-period and an 8-period. Now, VERIFY THIS FOR YOURSELF: When the 5 crosses above the 8, there will generally be more up days than down days. When the 5 is below the 8, there will generally be more down days than up days.

Isn’t this a very useful piece of information? Of course, in itself it is not enough to trade on, but if you know your trading bias for the day, you will stop getting lost in the jungle of the lower timeframe charts. When I learnt to orient myself to the daily chart, my trading improved dramatically.

 

[sunny_cool]

Can we buy in red area?? Trade carefully & make sure the trend reversal....as its not a good idea to catch a falling knife.... I m buying in small portions with strict SL

I am also interested in knowing ones trend reversal confirmations...plz share your trend reversal methods...if u dont mind

 

[manishchan]

Can we buy in red area?? Trade carefully & make sure the trend reversal....as its not a good idea to catch a falling knife.... I m buying in small portions with strict SL

I am also interested in knowing ones trend reversal confirmations...plz share your trend reversal methods...if u dont mind

Man...u follow 12 methods at once ?? (jst happened to look @ d bottom of ur ami screenshot)

 

[vishal7176]

Man...u follow 12 methods at once ?? (jst happened to look @ d bottom of ur ami screenshot)

Yaar tu to james bond se bhi tej niklaaa.....

kyaa najar hai yaar

 

[amitrandive]

Can we buy in red area?? Trade carefully & make sure the trend reversal....as its not a good idea to catch a falling knife.... I m buying in small portions with strict SL

I am also interested in knowing ones trend reversal confirmations...plz share your trend reversal methods...if u dont mind

Plenty of ways to spot trend reversals , the simplest and most powerful being trendlines.

Another trend reversal indicators are Moving averages,divergences ,patterns like flag pattern, triangle pattern, wedges, double/triple tops and head and shoulder,etc.