Price action with Candlestick Analysis(No indicators)

[cellclinic]

Hello Bro ...

As hik is not getting time so i would like to try to explain as best of my knowledge ...

I am going to post a nifty daily chart here with both conditions you are having doubt if not cleared plz post again

:!​

hi hik,
nice thread. quite useful
one basic doubt which haunts me since long is:
there are 2 ways in which a position can be initiated eg in case of buying
a)buy on break of resistance ie when stock is showing strength
or b) when stock is at support level.

which one of the 2 is more safe and more effective?
any historical findings on this subject?
pl reply

regards
girish

 

[hik]

hi hik,
nice thread. quite useful
one basic doubt which haunts me since long is:
there are 2 ways in which a position can be initiated eg in case of buying
a)buy on break of resistance ie when stock is showing strength
or b) when stock is at support level.

which one of the 2 is more safe and more effective?
any historical findings on this subject?
pl reply

regards
girish

a break of resistance entry is quite risky since we buying from swing high itself.
Buying from support is the safest entry since its from swing low .

 

[girishhu1]

thanks hk and cc,
your answer is sufficient for me for trading purpose
but break of resistance is breakout trade and indicates trending move isnt it?

regards
girish

 

[cellclinic]

Home Work Today @ Closing

Nifty 1 Hour ...

 

[winnertrader]

CC,
My NF hourly settings for F1 are differnt. See chart below:

 

[gurmy.]

HCL TECH DAILY

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[gurmy.]

DISH TV DAILY

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[cellclinic]

Hello Friends

I need every ones advice & observation in selecting timing for data here .... Just adjust you data timing in ami or metastock or which ever software you are using ... For ami adjust timing from 8.31 to 15.30 & for metastock adjust it from 08.30 am to 03.30pm .

Plz send your valuable replies here regarding this change & your ideas in change in candle signals as first candle remains 30 mins & last candle will become hourly ... as previously i was using time settings from 9.15 to 3.30 in that case last candle becomes 15 mins only

MY SINCERE THANKS TO WINNER TRADER FOR SHARING THIS IDEA :clapping:​

 

[winnertrader]

Cellclinic,
My settings are such so that the first 15 min of the market will appear in chart as an hourly bar. I'm not sure how it will help ur style of trading, but the way I look at it, I have to make certain decisions from that first candle..
For ex., NF breaks out of range and gives a gap up open....that's a long for me over that first hourly candle. I sure dont want to wait a full 45 mins for it ...the price would have advanced too far.
hope this helps.

 

[cellclinic]

NIFTY DAILY

INFY daily

SBI DAILY