Learning to catch High Probability Breakouts

[indianbank]

I hold a bank stock... its DCB Bank ... charts looks so bullish...

 

[nitingosavi]

i think no need to draw trend lines....

and I am talking abt a "probable" breakdown.... 11.10 PM IST silver CFD chart

 

[nitingosavi]

I hold a bank stock... its DCB Bank ... charts looks so bullish...

!!
!!!
!!!!
may be I am wrong............. but i feel everything is bullish !

 

[indianbank]

Silver And Gold.... check it
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[nitingosavi]

this chart... looks interesting.... but i am unable to come to a conclusion

if its gonna stay in channel?... breakout..!? or correct !?

 

[amitrandive]

this chart... looks interesting.... but i am unable to come to a conclusion

if its gonna stay in channel?... breakout..!? or correct !?

NitinJi

We cannot predict what a stock will do,our analysis are just probabilities and they may come right or go drastically wrong.

We just follow price action wherever it goes.If it breaks out of the channel, we draw another channel.If it stays within the channel, we trade accordingly.

The stock does not know that we have drawn a channel on its price action.

 

[amitrandive]

I hold a bank stock... its DCB Bank ... charts looks so bullish...

Stock is in an uptrend , currently a bullish pin at support.

 

[amitrandive]

Both Spot Nifty and Spot Bank Nifty taking support on Weekly levels and closing as green candles .

Daily Chart of Spot Nifty

Daily Chart of Spot Bank Nifty

Weekly Trendlines/Support/Resistance=Blue Colour
Daily Trendlines/Support/Resistance=Yellow Colour

 

[amitrandive]

There is no single method which will work in trends and in sideways ranges. The moment the market shows us that it is in sideways range, we have to start selling near higher boundries and buying near lower boundries.The sideways range is indicated only when the attempt to breakout out of the upper boundry is failed and market comes back in the range and then we get out of long positions without waiting for our stops to get hit.

Just like how we traded todays breakdown failure....we were expecting a large and fast move down but when market came back in the range or pivot low it broke, we got out of shorts trades much before our stops are hit....making money even on failed trades.

Smart_trade __________________

:clapping:

 

[amitrandive]

Source:Economic Times

Just posting an image from the Economic Times for knowledge purposes.