Price action with Candlestick Analysis(No indicators)

[cellclinic]

hi
here is my view.
Rule one= Support and Resistance ARE THERE often TO get broken
.iT IS NOVEL WAY TO SCREW THE MASSES.

When you go for Horizontal Support and Resistance the failure and missing rate is high.
There is a clue & hint inside it.
guess!
ford

hello ford ...

thanks for posting ... but it is better if you can elaborate in much clear words which can be helpful for everyone specially like me who can not solve the puzzles :!

 

[Bewinner]

ford...
please provide images on ur statement

 

[winnertrader]

hello ford ...

thanks for posting ... but it is better if you can elaborate in much clear words which can be helpful for everyone specially like me who can not solve the puzzles :!

Yea Ford.. Pls do enlighten us masses :clap::clapping:

 

[ford7k]

hi
Market is itself a big puzzle.
If you cant handle puzzle,as my mentor said, PLEASE stay away from market.

Learning to think independently IS MUST BUT IT takes time.
It takes effort.BUT ONE NEEDS TO MAKE A START.


When I get a hint or clue I post it on here.
I MYSELF,look for some new hint to make things easier.


give it time.
Things will unfold.
GOODLUCK

 

[hik]

Hik,
Bit confused after reading that for reversal we do take long back levels into consideration. Wasnt LT a reversal type trade frm 1530 levels... Then we do worry abt 1478 and those gaps frm September....

I treid my best to explain . LT is retest entry , it might work as reversal entry too. But first we worry about levels on recent swings. I go to long back levels when ever i dont see recent levels..


Consider the images i posted. Two differen scenario's . Both shorted.

What you are trying to do is mark long back levels just like i did on those weekly trades that i posted. Sail/tatast,relinfra/arvind etc. They are all reversal from a straight up resistance/support.

 

[shareking]

Thanks hik for sharing your beautiful methods.

 

[gurmy.]

GODREJIND

Uploaded with ImageShack.us

 

[winnertrader]

Posting Tatasteel's daily and hourly charts below... Trying to understand the proper entry for shorts from hourly with proper SL...

 

[winnertrader]

I treid my best to explain . LT is retest entry , it might work as reversal entry too. But first we worry about levels on recent swings. I go to long back levels when ever i dont see recent levels..


Consider the images i posted. Two differen scenario's . Both shorted.

What you are trying to do is mark long back levels just like i did on those weekly trades that i posted. Sail/tatast,relinfra/arvind etc. They are all reversal from a straight up resistance/support.

Thanks for such a detailed explanation Hik! Points are understood! ::clap::thumb::clapping:

 

[cellclinic]

let me try to brief a little ...

candle patterns used for exit as per Mr. STEEVE NISSION , trend reversal signal can be used after a trend only which needs to reverse from a running trend ...

DOJI ... doji is not a reversal signal , that is uncertainty fight between bulls & bears ...

in the pic you posted it can be determined as evening star pattern with 3 candles ... & it could be shorted only as per risk reward ratio on the open of the 5th candle or close of the 4th with the stop above doji high ...

& @ point 3 marked on the chart was the best point to short as it was retest of previous resistance ....

hopping i cleared a bit ... any further questions are welcome ....

better to watch Mr. STEEVE NISSION DVD,S again & again to understand be the best

Posting Tatasteel's daily and hourly charts below... Trying to understand the proper entry for shorts from hourly with proper SL...