Learning to catch High Probability Breakouts

Status
Not open for further replies.
N

nitingosavi

Well-Known Member
#2,251
#2,251
Rish said:
Nifty bounce back, because, mirror image of USDINR hit top band yesterday. Both reversing in opposite Direction.

Rally may not sustain beyond (if it goes) 7994. Again there USDINR will take support and depreciate.

Study the USDINR Chart, you will get the message.

The above view is my personal view based on experience, it may be wrong also. Above information is for study purpose.
Click to expand...
@RISH

attaching USDINR investing.com live chart... CFD.. etc. whatever it is.. its only availability to me.

I don't think USDINR pair will cross 67.40/50 so effect can come in some more ways... nifty has its own sup res..

obviously its my personal opinion. it need not to be truth in future. USDINR pair heading towards primarily 65.50/60 zone.

USDINR weekly USDINR already shown weakness according to my **limited** knowledge.. If any* fall in nifty... especially Banknifty will be a opportunity to buy*..falling sector will be pharma and IT..

daily chart of the same...tells some more... we r heading towards ......I will stop at 65.50 my knowledge allows not more than that..


my half knowledge doesn't allow me to look further more... its just for study purpose... USDINR getting to some new extraordinary high like 70+ or 80+ looks impossible to me for short time frame... rather it will make a new 2-3 yr low. I don't know how nifty will behave.. I am bullish... but its not 100% USDINR!!!

disclaimer : I can be 100% wrong....... its just for my* study purpose its not any kind of recommendation !!


I dunno why charts image not displaying.. use the link..(EDIT)
 
N

nitingosavi

Well-Known Member
#2,252
#2,252
Sunnyraj said:
Hello everyone. I have a query regarding buying at supports.

Taking an example of a chart posted by of the members.Here if prices approaches support, there can be two possibilities, either it will bounce or it will break the support if there is selling pressure

At the same point we can see there is a trendline approaching and downward sloping channel support.

Now here my question is :

1.Does buying at supports with strict SL could be the strategy ( But i agree it can be risky as pointed in recent post by sunny_cool)

OR

2.One should wait for a higher swing low, so as to get clear idea of trend.

Other members and seniors plz share your views, how do you handle such a situation.

Click to expand...
It depends upon your risk taking attitude*** (plz this is not exactly what I mean...but unable to find exact words...)

try using SMI...I use it very often with price chart+ RSI.. will post some charts tomorrow..
 
amitrandive

amitrandive

Well-Known Member
#2,254
#2,254
Rish said:
Nifty bounce back, because, mirror image of USDINR hit top band yesterday. Both reversing in opposite Direction.

Rally may not sustain beyond (if it goes) 7994. Again there USDINR will take support and depreciate.

Study the USDINR Chart, you will get the message.

The above view is my personal view based on experience, it may be wrong also. Above information is for study purpose.
Click to expand...
Rish

Yes , you are right

Daily Chart of USD/INR compared to Spot Nifty
 
Status
Not open for further replies.
Thread starter Similar threads Forum Replies Date
D Shared Learning: Swing Trading Wisdom for the Indian Market Swing Trading 0
N Learning! Beginners Guide 16
N Learning to trade(I'm new to this). Beginners Guide 0
N Learning from zero Beginners Guide 11
F Learning to Fish Technical Analysis 10

Similar threads