Learning to catch High Probability Breakouts
- Thread starter amitrandive
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..contd
10)Magnets (support and resistance)
https://brookstradingcourse.com/price-action/10-best-price-action-trading-patterns/
The final pattern in my 10 best price action trading patterns is more of a concept than a setup. The market is always testing as it tries to establish a price range and it usually cannot tell if it has gone far enough up or down until it goes too far. Support is any price below the market where buyers might come in, as either bulls buy to create new longs or bears buy to take profits. Resistance is any price above the market where bulls might take profits on longs and bears might short.
Common magnets include the tops and bottoms of trading ranges, prior highs and lows, trend lines, channels, measured move projections, and moving averages. Computers control the market, and all support and resistance is based on things that computer programs can calculate. The result is that the market often accelerates near the target once a substantial number of algorithms all believe that the target will be reached.
10)Magnets (support and resistance)
https://brookstradingcourse.com/price-action/10-best-price-action-trading-patterns/
The final pattern in my 10 best price action trading patterns is more of a concept than a setup. The market is always testing as it tries to establish a price range and it usually cannot tell if it has gone far enough up or down until it goes too far. Support is any price below the market where buyers might come in, as either bulls buy to create new longs or bears buy to take profits. Resistance is any price above the market where bulls might take profits on longs and bears might short.
Common magnets include the tops and bottoms of trading ranges, prior highs and lows, trend lines, channels, measured move projections, and moving averages. Computers control the market, and all support and resistance is based on things that computer programs can calculate. The result is that the market often accelerates near the target once a substantial number of algorithms all believe that the target will be reached.
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HI Amit, I hope I can post in your thread.
Hindpetro trading at resitance. Failure to break break above 665 spot is inviting a short. Downside looks like ***/***/***.
If stock breaks out above 665 then DONT buy the breakout. Wait for a decent pullback and enter. If broken out new highs can come.
Hindpetro trading at resitance. Failure to break break above 665 spot is inviting a short. Downside looks like ***/***/***.
If stock breaks out above 665 then DONT buy the breakout. Wait for a decent pullback and enter. If broken out new highs can come.
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HI Amit, I hope I can post in your thread.
Hindpetro trading at resitance. Failure to break break above 665 spot is inviting a short.
If stock breaks out above 665 then DONT buy the breakout. Wait for a decent pullback and enter. If broken out new highs can come.
Hindpetro trading at resitance. Failure to break break above 665 spot is inviting a short.
If stock breaks out above 665 then DONT buy the breakout. Wait for a decent pullback and enter. If broken out new highs can come.
Sure , Riskyman.
But just take care not to post targets/stop losses as per forum requirement
http://www.traderji.com/your-feedback-suggestions/97239-sebi-rules-analysts-etc.html#post1047218
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HI Amit, I hope I can post in your thread.
Hindpetro trading at resitance. Failure to break break above 665 spot is inviting a short. Downside looks like ***/***/***.
If stock breaks out above 665 then DONT buy the breakout. Wait for a decent pullback and enter. If broken out new highs can come.
Hindpetro trading at resitance. Failure to break break above 665 spot is inviting a short. Downside looks like ***/***/***.
If stock breaks out above 665 then DONT buy the breakout. Wait for a decent pullback and enter. If broken out new highs can come.
We talked about Rural electrification breaking out of a trading range on Monday. Later in the evening I had suggested that either the stock was likely to fall back below 350 levels or a lot of call writers were going to loose money.
Its looking like the call writer wont after all lose money. REC tested the breakout zone today after making a high of 370 yesterday. If the stock falls below the breakout price of 350 then its likely to ping pong between the last trading range of 310 and 350. Watch it for a potential trade.
Its looking like the call writer wont after all lose money. REC tested the breakout zone today after making a high of 370 yesterday. If the stock falls below the breakout price of 350 then its likely to ping pong between the last trading range of 310 and 350. Watch it for a potential trade.
HI Amit, I hope I can post in your thread.
Hindpetro trading at resitance. Failure to break break above 665 spot is inviting a short. Downside looks like ***/***/***.
If stock breaks out above 665 then DONT buy the breakout. Wait for a decent pullback and enter. If broken out new highs can come.
Hindpetro trading at resitance. Failure to break break above 665 spot is inviting a short. Downside looks like ***/***/***.
If stock breaks out above 665 then DONT buy the breakout. Wait for a decent pullback and enter. If broken out new highs can come.
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