Learning to catch High Probability Breakouts
- Thread starter amitrandive
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Anilji
I totally agree with you that we cannot trade such breakouts on a daily basis.
But we can have an intraday trade in it.
If not Bergerpaint , then definitely AsianPaints,as Asian Paint belongs to Nifty index and is from the same sector.
My intention in posting these charts is to learn something about price action from these breakouts and use it to improve our chart reading.
For swing trade in these kind of breakouts , we have to wait for a pullback.
Also if you refer all my earlier posts,I always advocate the use of Daily/Weekly levels for trading breakouts.
What we can learn from that image is that that stock has given similar breakouts in the past.So a repetitive pattern in a stock will always give us low risk/high reward entries.A very good signal was that BergerPaints broke 20EMA on the daily charts on 22/12/2014.So this stock should have been in our watchlist.
Daily Chart of Asian Paints
I totally agree with you that we cannot trade such breakouts on a daily basis.
But we can have an intraday trade in it.
If not Bergerpaint , then definitely AsianPaints,as Asian Paint belongs to Nifty index and is from the same sector.
My intention in posting these charts is to learn something about price action from these breakouts and use it to improve our chart reading.
For swing trade in these kind of breakouts , we have to wait for a pullback.
Also if you refer all my earlier posts,I always advocate the use of Daily/Weekly levels for trading breakouts.
What we can learn from that image is that that stock has given similar breakouts in the past.So a repetitive pattern in a stock will always give us low risk/high reward entries.A very good signal was that BergerPaints broke 20EMA on the daily charts on 22/12/2014.So this stock should have been in our watchlist.
Daily Chart of Asian Paints
Last edited:
Metal Sector Reversal or Short Covering ?
Good gains in metal stocks today,in an otherwise flat market.
Is this a reversal or a short covering ?
Our previously drawn support/resistance lines are still valid.
Daily Chart of CNXMetal on 1/1/2015
Good gains in metal stocks today,in an otherwise flat market.
Is this a reversal or a short covering ?
Our previously drawn support/resistance lines are still valid.
Daily Chart of CNXMetal on 1/1/2015
Dear amit,
This is the most simple but efficient line of analysis what you are doing, and i love it, as i too follow charts with minimal indicator clusters.
This supply/demand lines are the most important thing in markets, this i came to conclusion after spending so many years searching here and there for 'Holy Grail'...
This is the most simple but efficient line of analysis what you are doing, and i love it, as i too follow charts with minimal indicator clusters.
This supply/demand lines are the most important thing in markets, this i came to conclusion after spending so many years searching here and there for 'Holy Grail'...
Anilji
I totally agree with you that we cannot trade such breakouts on a daily basis.
But we can have an intraday trade in it.
If not Bergerpaint , then definitely AsianPaints,as Asian Paint belongs to Nifty index and is from the same sector.
My intention in posting these charts is to learn something about price action from these breakouts and use it to improve our chart reading.
For swing trade in these kind of breakouts , we have to wait for a pullback.
Also if you refer all my earlier posts,I always advocate the use of Daily/Weekly levels for trading breakouts.
What we can learn from that image is that that stock has given similar breakouts in the past.So a repetitive pattern in a stock will always give us low risk/high reward entries.A very good signal was that BergerPaints broke 20EMA on the daily charts on 22/12/2014.So this stock should have been in our watchlist.
Daily Chart of Asian Paints
I totally agree with you that we cannot trade such breakouts on a daily basis.
But we can have an intraday trade in it.
If not Bergerpaint , then definitely AsianPaints,as Asian Paint belongs to Nifty index and is from the same sector.
My intention in posting these charts is to learn something about price action from these breakouts and use it to improve our chart reading.
For swing trade in these kind of breakouts , we have to wait for a pullback.
Also if you refer all my earlier posts,I always advocate the use of Daily/Weekly levels for trading breakouts.
What we can learn from that image is that that stock has given similar breakouts in the past.So a repetitive pattern in a stock will always give us low risk/high reward entries.A very good signal was that BergerPaints broke 20EMA on the daily charts on 22/12/2014.So this stock should have been in our watchlist.
Daily Chart of Asian Paints
- Status
| 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 |
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