Price action with Candlestick Analysis(No indicators)

[hik]

Ongc M30

ONGC M5

NOt enough space so two M1 CHARTS>>>

:thumb:

Its hard to demonstrate process on a single chart(less size becomes Clumsy) . I didnt have enough space so i settled for less explanation instead of bar by bar assesment

 

[hik]

Bharti Airtel today.

A basic explanation of bharti airtel chart today!!.
The chart didnt have space for candle by candle assesment.
I even missed few entries.sry for that.
This process can be done on any company.
30min > 5min and when price nears the S/R 1 min .

 

[mnasiru]

Thanks hik brother. may i get the afl for all candlestick identification. click on the candlestick will show wht is it? i love to do trade with candlestick. thanks and regards.

 

[akrsrivastava]

Reliance 5 minutes today. Let me know if this analysis is correct

 

[Vertigo_1985]

Here is my analysis for Reliance :-

 

[Vertigo_1985]

RCOM trades today, can't post entire 1 min chart as it gets messy :-

 

[Vertigo_1985]

KTKBANK

 

[Vertigo_1985]

My process is imple , just like lance beggs outlined.
Unlike you , during the process i'd like to deal with as small detail as possible in order not to get confused. I go to 30min/1hr chart and then draw my support/resistance lines .
After that I go to 5min chart. I will not be looking at entries or the M1 chart at all when price is inbetween the higher timeframe S/R. Until price reaches either end of higher timeframe S/R , I will assess the strength of the Direction by seeing projections,momentum etc as it hits the S/R .
I keep a watch list of 3-4 companies hich have decent volume. So, What im interested are only Breakout pullback / Break out failure / Test of support/resistance setups.
No matter how tempting it might seem i dont never take pullback/complex back trades. Just like lance beggs mentioned if i feel that I am good at only SOME types of setups then i increase my watch list And for only these particular trades.
Since im not trading yet, ikeep an eye of the price when reaches a higher timeframe S/R. Then i get ready for
Imagining the future price action .I will demonstrate this on a chart.

Our process may seem to be different but it's same on the fundamental level, we both trade against weakness in supply/demand imbalance zones .
I do use your process sometimes, for example i traded RCOM yesterday and noticed that 144.8 was an important level which it couldn't break. So although i was trading KTKBANK, today RCOM was on my watch too and as soon as it approached 144.8 zone my focus was on it. It produced a decent short trading opportunity .

There should be momentum to trade PB, CPB. A single stock will have on average only 2 strong trending days in a week, so its difficult to play these setups on just one stock (CPB has better success rate than PB). I choose stocks which are in news so there is momentum and above setups are comparatively easier to trade.

Currently, after an entry i put target, stop order and forget about it. I find it giving best result for me as of now.
I am working on active trade management (psychological, technical). The mess you see on the chart is for that only , aim is to be able to squeeze every paisa of a move one day .

one query ...how many trades you manage to make per week on an average?

 

[akrsrivastava]

ICICI Bank July

USDINR

Adani July

Feedback please. Thanks !!

 

[RAYMOND]

what is the source of your intraday chart in amibroker sir , I am trying to learn from your observation but don't have intra chart .