Learning to catch High Probability Breakouts

[XRAY27]

@Amit

What are this lines you are drawing on the chart...Pls explain...in detail..

 

[amitrandive]

@Amit

What are this lines you are drawing on the chart...Pls explain...in detail..

XRAY

These are lines for levels of my reference.
If you see these are usually the Big pin bar closes, where I feel I can initiate a trade.

 

[XRAY27]

XRAY

These are lines for levels of my reference.
If you see these are usually the Big pin bar closes, where I feel I can initiate a trade.

Dear Amit !!

Levels of reference other then pin bar any other thing you mark...???

 

[amitrandive]

Dear Amit !!

Levels of reference other then pin bar any other thing you mark...???

Other levels of reference ,
Previous Day High,
Previous Day Low,
Weekly High
Weekly Low

 

[amitrandive]

@Amit

What are this lines you are drawing on the chart...Pls explain...in detail..

XRAY

These are lines for levels of my reference.
If you see these are usually the Big pin bar closes, where I feel I can initiate a trade.

XRay

Please see attached Chart of AsianPaints for reference.

15 min Chart of Asian Paints with Pin Bar Closes marked.

5 min Chart of Asian Paints with Pin Bar with same levels.

Check the significance of those levels.

 

[amandeep86]

XRAY

These are lines for levels of my reference.
If you see these are usually the Big pin bar closes, where I feel I can initiate a trade.

Did you look for Pin Bars at these levels(levels marked earlier by some other logic) or mark these levels after you see Pinbar??

 

[XRAY27]

XRay

Please see attached Chart of AsianPaints for reference.

15 min Chart of Asian Paints with Pin Bar Closes marked.

5 min Chart of Asian Paints with Pin Bar with same levels.

Check the significance of those levels.

Thanks Amit ... for explaining the set up... wonderful... PAT mechanics ...

 

[amitrandive]

Did you look for Pin Bars at these levels(levels marked earlier by some other logic) or mark these levels after you see Pinbar??

amandeep

I usually mark the levels after the pin bar is formed.

The support resistance levels can be marked on any other candlestick patterns on a higher time frame say 30 min , hourly or daily and those levels form strong support and resistances on lower time frames like 5 min , 3 min.

Please read the earlier posts in this thread for the level markings.I usually start at the Monthly, Weekly and Daily levels.

 

[niftytaurus]

My Day Trades for 14/11/2014


5 min Chart of SBI

5 min Chart of Ranbaxy

Hi Amit
Congratulations! very good trades :clap:
Could you please tell that what are the criteria to choose thos stocks? I mean how can we choose stocks for next day for intraday trading?
Thanks

 

[amitrandive]

Hi Amit
Congratulations! very good trades :clap:
Could you please tell that what are the criteria to choose thos stocks? I mean how can we choose stocks for next day for intraday trading?
Thanks

NiftyTaurus

SBI had results on that day and Ranbaxy was NR7.
:thumb:
Not necessarily all NR7 stocks work but when they do they give good profits.Also be careful ,stocks which have results are very volatile.