Learning to catch High Probability Breakouts

[amitrandive]

from 25 Rules of Trading by Douglas Zalesky

:clap::clap::clap:

 

[revendar]

....
BPCL/Asianpaints not working as per expectations yet, but not crossing resistance levels too.. almost everyday I am selling and booking them.
...

Happy new year !!

Asianpaints will start downfall soon. Entered today:thumb:

 

[amitrandive]

I rarely spend time on charts....
Most of the time i follow market news... i always focus much on global economic news... whats economics happening globally and India...
analyzing growth rate is very imp before investing in it....
( see its not necessary to invest in equities only ...we can invest in bullion, forex, real estate, commodities ... which ever is having higher growth/return rate we should invest in it )

Charts just follow news and mass psychology...

Sirji

I think it is the other way round , news is already discounted in the price action and mass psychology is always reflected in the charts.Please read the above post of 25 Rules of Trading by Douglas Zalesky

 

[nitingosavi]

@ Manoj sir,

is it a valid break down? Hrly chart.
rising wedge was there. broken
(-)DMI broke out.
but ADX was never under 25.
if its valid ? point 1 should be considered or point 2.

 

[amitrandive]

Today's 52 Week Highs and Lows

 

[amitrandive]

Daily Chart of TataMotors

Unable to cross resistance and 200EMA convincingly Tatamotors fell down today by -6%

 

[amitrandive]

Daily Chart of Biocon

Biocon Hitting 52 Week high today in-spite of a weak market.

 

[indianbank]

Hi friends.... good evening as always
52 week breakout portfolio performance
17 stocks and unrealized loss/profit = +350 rs...

it closed in green... lets see what happens in coming days

 

[indianbank]

I think it is the other way round , news is already discounted in the price action and mass psychology is always reflected in the charts.Please read the above post of 25 Rules of Trading by Douglas Zalesky

I have no issues if someone follow Golden rules and make money... :lol:

 

[amitrandive]

Weekly charts of SBI and PNB showing weakness compared to BankNifty.Both stocks hitting 52 Week low today.