Price action with Candlestick Analysis(No indicators)

[VJAY]

Hi vertigo ,
it is really such a pleasure for my eyes to see your 3 minute charts and your bar by bar analysis just like lance beggs mentioned. :thumb::thumb::thumb::thumb:
A question for you: DO you update your bar by bar analysis as the new bar prints ? OR do you take already printed chart and study the price action?
There lots of trade oppurtunities in the charts you posted, Pullback,complex pulback, Breakout pullback(my favorite) , Break out failure during sideways trend(visible on your airtel chart i guess), And ofcourse the TST setup.
I do the same analysis on forex pairs but on a 5 minute chart. Even in the analysis stage i love mostly the Breakout and pullback oppurtunities , they are safe and high probability . However iam keeping an open mind about the rest of other trade oppurtunities also.
On your jindal steel chart you have identified swing lows/highs,you have missed some, I suggest you an indicator (bill williams "fractals") for identifying swings. It takes the pain away.
It really fun to watch the price action as new candle prints (on 1 min chart)
near higher time frame support/resistance areas. Those small candles gives lot of clues about future direction.

I will be trying to post charts with analysis and possible trade oppurtunities whenever i find time.
i have trouble doing analysis whenever gaps occur mostly because im familiar with other markets which dont have gaps. I know gaps have to treated as supp/ress but still i face trouble sometimes.
However i will try to post charts that are relevant to the indian stocks only.

PS : I understand that the thread started out as an higher timeframe trading, but after sometime i have moved on to lower timeframe price action. Any one is welcome to post any timeframe chart.


I am looking forward to understand and improve my "Price reading skills" by posting and discussing here.
Thank you.

Dear HIK,
Welcome back to your own thread ...we missing your charts.. wish to see your above said charts here...also requesting you to atleast post some of your charts in weekend if time permits ......Thanks

 

[hik]

Dear HIK,
Welcome back to your own thread ...we missing your charts.. wish to see your above said charts here...also requesting you to atleast post some of your charts in weekend if time permits ......Thanks

Thanks i will start posting from sunday.

 

[Vertigo_1985]

Hi vertigo ,
it is really such a pleasure for my eyes to see your 3 minute charts and your bar by bar analysis just like lance beggs mentioned. :thumb::thumb::thumb::thumb:
A question for you: DO you update your bar by bar analysis as the new bar prints ? OR do you take already printed chart and study the price action?
There lots of trade oppurtunities in the charts you posted, Pullback,complex pulback, Breakout pullback(my favorite) , Break out failure during sideways trend(visible on your airtel chart i guess), And ofcourse the TST setup.
I do the same analysis on forex pairs but on a 5 minute chart. Even in the analysis stage i love mostly the Breakout and pullback oppurtunities , they are safe and high probability . However iam keeping an open mind about the rest of other trade oppurtunities also.
On your jindal steel chart you have identified swing lows/highs,you have missed some, I suggest you an indicator (bill williams "fractals") for identifying swings. It takes the pain away.
It really fun to watch the price action as new candle prints (on 1 min chart)
near higher time frame support/resistance areas. Those small candles gives lot of clues about future direction.

I will be trying to post charts with analysis and possible trade oppurtunities whenever i find time.
i have trouble doing analysis whenever gaps occur mostly because im familiar with other markets which dont have gaps. I know gaps have to treated as supp/ress but still i face trouble sometimes.
However i will try to post charts that are relevant to the indian stocks only.

PS : I understand that the thread started out as an higher timeframe trading, but after sometime i have moved on to lower timeframe price action. Any one is welcome to post any timeframe chart.


I am looking forward to understand and improve my "Price reading skills" by posting and discussing here.
Thank you.

Hi hik,
Thanks for your kind words . Lance Beggs has written in a simple, easy to understand and structured manner, truly thankful to him for that awesome book.

My analysis starts with finding important levels, trend and strength before session. Based on these information i have my if-then statements. At session open i solely watch market depth ( its easier to focus, find strength on its basis), switching to candlestick chart when i feel comfortable.
I keep an eye on 15 min, 3 min and 1 min timeframes, though main focus is on
3 min. 1 min is used when entering a trade, finding minor s/r or trapping patterns.
I do bar by bar analysis till 1130 am, then i review the session and fill journals. After 1130 i do watch price action near important s/r levels but i don't trade.

My favorite setup is CPB(has high success rate and love traps . BOF, TST are also good and PB has to be traded with caution with some filters( volatility, market time, market environment).
Earlier i used to trade only HDIL but now I trade stocks with news or gaps( thanks to Stock in Play in "One Good Trade" by Mike). They have more opportunities and volatility.
Have you tried watching market depth at the session open? it gives me very good idea of the desperation in traders and what they really want.

I see gap as anything else, watching price action around the important levels, strength and weakness only the volatility is high( you may switch to lower timeframe).

Looking for more of your posts.

Regards

 

[Vertigo_1985]

ONGC today :-

 

[saakk]

ONGC today :-

hi,
can you please mark entries along with analysis, it will be easy to understand in converting your knowledge to trade.

 

[Vertigo_1985]

hi,
can you please mark entries along with analysis, it will be easy to understand in converting your knowledge to trade.

from 8th july will be posting trades along with analysis. Please feel free to ask about anything about analysis, any discussion will help us both.

Regards

 

[merchantp]

from 8th july will be posting trades along with analysis. Please feel free to ask about anything about analysis, any discussion will help us both.

Regards

Good post vertigo.. Iam new to this thread. .. Please keep posting, will asks questions whenever I have doubts.. Just a small question... are you doing analysis on hindsight or they are live as analysis on hindsight becomes somewhat easier. Please do not get offended its just a question.
Regards,
merchant

 

[Vertigo_1985]

Good post vertigo.. Iam new to this thread. .. Please keep posting, will asks questions whenever I have doubts.. Just a small question... are you doing analysis on hindsight or they are live as analysis on hindsight becomes somewhat easier. Please do not get offended its just a question.
Regards,
merchant

its a combination of both, till 1130 am most of it is live, while after it most of it is in hindsight.
There are many things i find that i missed when i go through the charts again, so i add comments to the whole chart . I know its easier to do it in hindsight but during non-trading hours i am comparatively more calm, focused than during trading hours and hence my analysis is much clearer and better. Aim is to practice as much so that i can reproduce it in live session. The more i practice, the more i learn, the more i learn, the better trader i become . Discussing here with other traders will only accelerate my learning.

and nothing offending here ..

Regards

 

[oilman5]

good to read,thanks vertigo

 

[merchantp]

Hi Vertigo,
Does ytc contain 6 volumes, in that case I was able to download it from internet.
in btw how much time you took to cover ytc. Also since how long you have been practising.
I will start reading from today, will come back to you if I have any questions .