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Breakout/ Breakdown Trades |
amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
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Post: #841  Posted: Thu Mar 20, 2014 8:27 am Post subject: |
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| loretto wrote: | i'm a learner.. attaching few stock charts 15tf.... just need a candle close to go for a trade each side.. think then trade.. money is yours  experts may throw some points |
good ones...they are just mirroring Nifty 15tf chart......breakdown below 6499NF....
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loretto
White Belt
Joined: 30 Sep 2008
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| Post: #842 Posted: Thu Mar 20, 2014 9:58 am Post subject: |
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| Titan is trading above 260.. watch out
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sumesh_sol
Brown Belt
Joined: 06 Jun 2010
Posts: 2344
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| Post: #843 Posted: Thu Mar 20, 2014 10:09 am Post subject: |
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| loretto wrote: | | Titan is trading above 260.. watch out |
Very good ...Watch 15tf action for entry now...
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loretto
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| Post: #844 Posted: Thu Mar 20, 2014 11:04 am Post subject: |
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| sumesh_sol wrote: | | loretto wrote: | | Titan is trading above 260.. watch out |
Very good ...Watch 15tf action for entry now... |
what does it mean.. a neg breakout? one tick above 260 and another one below 260?
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amitagg
Black Belt
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| Post: #845 Posted: Thu Mar 20, 2014 11:11 am Post subject: |
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| only buy above 261.5 spot.....
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sumesh_sol
Brown Belt
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| Post: #846 Posted: Thu Mar 20, 2014 11:16 am Post subject: |
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| loretto wrote: | | sumesh_sol wrote: | | loretto wrote: | | Titan is trading above 260.. watch out |
Very good ...Watch 15tf action for entry now... |
what does it mean.. a neg breakout? one tick above 260 and another one below 260? |
Breakouts should not be played above BO level.. If u do so , be clear to keep SL below BO level..
Generally, if a breakout happens in a timeframe say 60tf, you come to smaller one (15tf) here watch price action... If it is a good breakout , it will give you clue by forming either pennant or flag or something like this.. These are resting period and assessment by bulls for further upmove.. THEN you buy abv break of that consolidation with SL below consolidation low...
One more thing see on larger timeframe say eod and weekly to confirm that there is no immediate resistance zone in the form of previous swing high / DTL / Some big round number etc. If it is before your 1:1 leave it..
That's how I trade... Others may differ...
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amitagg
Black Belt
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Posts: 4559
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| Post: #847 Posted: Thu Mar 20, 2014 11:21 am Post subject: |
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| sumesh_sol wrote: | | loretto wrote: | | sumesh_sol wrote: | | loretto wrote: | | Titan is trading above 260.. watch out |
Very good ...Watch 15tf action for entry now... |
what does it mean.. a neg breakout? one tick above 260 and another one below 260? |
Breakouts should not be played above BO level.. If u do so , be clear to keep SL below BO level..
Generally, if a breakout happens in a timeframe say 60tf, you come to smaller one (15tf) here watch price action... If it is a good breakout , it will give you clue by forming either pennant or flag or something like this.. These are resting period and assessment by bulls for further upmove.. THEN you buy abv break of that consolidation with SL below consolidation low...
One more thing see on larger timeframe say eod and weekly to confirm that there is no immediate resistance zone in the form of previous swing high / DTL / Some big round number etc. If it is before your 1:1 leave it..
That's how I trade... Others may differ... |
Nobody can differ...very well said......practically intra day....that sideways consol [u said flag/pennant etc... is very important....first break down [small] signals not to buy.....buy only above / near the top.......hence buy only above 361.5 spot....with stop 357
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loretto
White Belt
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| Post: #848 Posted: Thu Mar 20, 2014 11:27 am Post subject: |
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| thanks Sumesh ji and amit ji
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sumesh_sol
Brown Belt
Joined: 06 Jun 2010
Posts: 2344
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| Post: #849 Posted: Thu Mar 20, 2014 2:15 pm Post subject: TITAN...(Trade already closed) |
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TITAN...(Trade already closed)
================
Although I'm not teaching anything new... !!
But for the benefit of newcomers I thought I would share my trade. You may observe such pattern repeats numerous times and can take advantage of them..
Like I mentioned it was a good BO on 60tf from 258 level and and closed on 262. If this BO was a real one it would have paused and then moved ahead with equal force, as it is attract new buyers...
For this I shifted to lower timeframe (15tf). However, it did not show any intention to move up.. I waited for it to close below BO zone of 258, then I saw despite of some upmove it was not able to cross BO zone... I got my setup here, I placed my order below 257 which was low of candle which took the price below BO zone.Sl was high of retry level (258.5) .
The moment it hit sell level, it fell immediately and I got my 1:1. Now it can go upto 200 sma(253.5) on 15tf or lower Trendline (somewhere around 252)...
Pure price action..
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amitagg
Black Belt
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Posts: 4559
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| Post: #850 Posted: Thu Mar 20, 2014 2:21 pm Post subject: Re: TITAN...(Trade already closed) |
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| sumesh_sol wrote: | TITAN...(Trade already closed)
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Although I'm not teaching anything new... !!
But for the benefit of newcomers I thought I would share my trade. You may observe such pattern repeats numerous times and can take advantage of them..
Like I mentioned it was a good BO on 60tf from 258 level and and closed on 262. If this BO was a real one it would have paused and then moved ahead with equal force, as it is attract new buyers...
For this I shifted to lower timeframe (15tf). However, it did not show any intention to move up.. I waited for it to close below BO zone of 258, then I saw despite of some upmove it was not able to cross BO zone... I got my setup here, I placed my order below 257 which was low of candle which took the price below BO zone.Sl was high of retry level (258.5) .
The moment it hit sell level, it fell immediately and I got my 1:1. Now it can go upto 200 sma(253.5) on 15tf or lower Trendline (somewhere around 252)...
Pure price action.. |
excellant....way to trade a failed breakout.....also good to see you opted for 1:1 ?.....have seen in Icharts and some other forums.....but to practice is another thing...very well done.
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amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
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| Post: #851 Posted: Thu Mar 20, 2014 2:38 pm Post subject: Re: TITAN...(Trade already closed) |
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attaching one chart to demonstrate failed breakout of range trading [see closing minutes]
| amitagg wrote: | | sumesh_sol wrote: | TITAN...(Trade already closed)
================
Although I'm not teaching anything new... !!
But for the benefit of newcomers I thought I would share my trade. You may observe such pattern repeats numerous times and can take advantage of them..
Like I mentioned it was a good BO on 60tf from 258 level and and closed on 262. If this BO was a real one it would have paused and then moved ahead with equal force, as it is attract new buyers...
For this I shifted to lower timeframe (15tf). However, it did not show any intention to move up.. I waited for it to close below BO zone of 258, then I saw despite of some upmove it was not able to cross BO zone... I got my setup here, I placed my order below 257 which was low of candle which took the price below BO zone.Sl was high of retry level (258.5) .
The moment it hit sell level, it fell immediately and I got my 1:1. Now it can go upto 200 sma(253.5) on 15tf or lower Trendline (somewhere around 252)...
Pure price action.. |
excellant....way to trade a failed breakout.....also good to see you opted for 1:1 ?.....have seen in Icharts and some other forums.....but to practice is another thing...very well done. |
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vvsp
White Belt
Joined: 10 Nov 2010
Posts: 62
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| Post: #852 Posted: Thu Mar 20, 2014 7:47 pm Post subject: |
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amitagg,
In the chart you posted to demonstrate failed break-out range, are the markings and abbreviations your own creation or from some blog?
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sumesh_sol
Brown Belt
Joined: 06 Jun 2010
Posts: 2344
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| Post: #853 Posted: Thu Mar 20, 2014 8:20 pm Post subject: Re: Philipcarb...eod |
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| sumesh_sol wrote: | Philipcarb...eod
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May take position on retracement - resume trend on 60 tf..
Tgt can be 60/65 ..(LTP-54.15) |
It had broken out from 48-50 level on 06th March... Now it has retraced to same level again and during last two consecutive days it has shown intention of moving up..
We can take long abv 52 with SL below 48... Intitial tgt for coming days could be 60.
Regards,
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Last edited by sumesh_sol on Thu Mar 20, 2014 8:22 pm; edited 1 time in total |
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loretto
White Belt
Joined: 30 Sep 2008
Posts: 147
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| Post: #854 Posted: Thu Mar 20, 2014 8:20 pm Post subject: |
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very well explained.... thanks again 
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sumesh_sol
Brown Belt
Joined: 06 Jun 2010
Posts: 2344
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| Post: #855 Posted: Thu Mar 20, 2014 8:40 pm Post subject: Geometric...2h |
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Geometric...2h
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LTP-120
It has been trying to escape out of rectangular congestion for almost one month..
Today it has shown good volume, and with healthy +DMI and ADX , it is most likely set to break this range.. Once broken, I will shift to 30tf and find opportunity either to flow with upmove or short the BO failure.
Chances of upmove are more.. and there is very strong resistance at 130. So that becomes our target also..
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