Learning to catch High Probability Breakouts
- Thread starter amitrandive
- Start date
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REC Ltd.
1) There is a long tailed pinbar on the weekly around the previous Demand/supply zone of 240. On the daily it is a green WRB.
2) On both the weekly and the daily it has pierced the lower BB. On the daily it has pierced the lower BB with a green WRB. The BB are expanding.
3) The oscillator is coming out of the OS zone and is in neutral zone on the daily. In the weekly, it is still in OS zone but rising.
So, can it be bought with a SL in 230-240 zone with T1 at 270 (around 20SMA on the daily) and T2 290 (Upper BB) ?? If succeeds, can it be held for higher targets of 310 and 380 (as per the weekly charts) ??
REC Ltd - Daily :
REC Ltd - Weekly :
1) There is a long tailed pinbar on the weekly around the previous Demand/supply zone of 240. On the daily it is a green WRB.
2) On both the weekly and the daily it has pierced the lower BB. On the daily it has pierced the lower BB with a green WRB. The BB are expanding.
3) The oscillator is coming out of the OS zone and is in neutral zone on the daily. In the weekly, it is still in OS zone but rising.
So, can it be bought with a SL in 230-240 zone with T1 at 270 (around 20SMA on the daily) and T2 290 (Upper BB) ?? If succeeds, can it be held for higher targets of 310 and 380 (as per the weekly charts) ??
REC Ltd - Daily :
REC Ltd - Weekly :
Timepass Ji
Just my Views
I am still learning Technical Analysis from the threads of Senior members and much more knowledgeable members in TJ.
ReCLTD
Though the Weekly chart has a Pin bar , would preferably like it to break 255 levels and come back and test this level before initiating a long.
Also currently stock price trading below 20 EMA , so I would not like to initiate a long,until it breaks 20EMA price which is around 266.
Experts may correct me on this.
Weekly Chart of RecLtd
Daily Chart of RecLtd
Just my Views
I am still learning Technical Analysis from the threads of Senior members and much more knowledgeable members in TJ.
ReCLTD
Though the Weekly chart has a Pin bar , would preferably like it to break 255 levels and come back and test this level before initiating a long.
Also currently stock price trading below 20 EMA , so I would not like to initiate a long,until it breaks 20EMA price which is around 266.
Experts may correct me on this.
Weekly Chart of RecLtd
Daily Chart of RecLtd
Daily Chart of REC
Justy
Approxiamately 20 trading days in a month,so 20 EMA is a month's moving average.This gives a fair idea about the trend of a stock.
The 20 EMA is followed by many Technical Analysts and Fund Managers.
The other popular EMA's are 50,100 and 200.
Please refer the below link for moving averages.
http://www.investopedia.com/university/movingaverage/movingaverages2.asp
Approxiamately 20 trading days in a month,so 20 EMA is a month's moving average.This gives a fair idea about the trend of a stock.
The 20 EMA is followed by many Technical Analysts and Fund Managers.
The other popular EMA's are 50,100 and 200.
Please refer the below link for moving averages.
http://www.investopedia.com/university/movingaverage/movingaverages2.asp
High Probability Breakout
Bajaj Finserv
A bearish pin bar forming a resistance and indicating supply around 1060 on 24/9/2014.
A bullish pin bar forming a support and indicating demand around 1040 on 26/9/2014.
A breakout on 29/9/2014 above 1060 with a stop at 1045(support level) , and stock surges to 1095 at EOD , when all indices are flat on a consolidation day.Giving around 3% return Intraday.
Daily chart of Bajaj Finserv
Bajaj Finserv
A bearish pin bar forming a resistance and indicating supply around 1060 on 24/9/2014.
A bullish pin bar forming a support and indicating demand around 1040 on 26/9/2014.
A breakout on 29/9/2014 above 1060 with a stop at 1045(support level) , and stock surges to 1095 at EOD , when all indices are flat on a consolidation day.Giving around 3% return Intraday.
Daily chart of Bajaj Finserv
Just For Learning Purpose
We would like to trade a stock once it breaks out in the Weekly chart.
Current levels seem facing resistance after parabolic rise.Price should ideally break out beyond 160 and take support there.
Earlier there was an entry @ 120,break at Weekly and Daily levels.
Weekly Chart of Karnataka Bank
Daily Chart of Karnataka Bank
Crossing Resistance of 160 proving tough
Just for Learning Purpose
Weekly Chart of LICHSGFIN
Daily Chart of LICHSGFIN
Stock gave strong breakouts around 290 and 350 levels.
Stock is a strong uptrend and has currently taken support @ 400 levels before taking off again.
Fantastic point to get long at bounce on support.As this is a lifetime high for the stock,we should ideally follow the trend until it breaks.
Daily Chart of LICHSGFIN
Seems good so far.Rising in a falling market.
- Status
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