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Breakout/ Breakdown Trades |
chrome
Yellow Belt
Joined: 28 Dec 2009
Posts: 645
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Post: #1  Posted: Wed Jul 21, 2010 1:54 pm Post subject: Breakout/ Breakdown Trades |
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Hi friends,
Starting a new thread for trades/ probables based on Breakout or Breakdown moves.
Resistances/ Supports when gets broken alongwith high volumes, results in good breakout or down in near term. Also, the resistance now becomes support and vice versa in case of break downs.
Posting some nice Breakout charts supporting with high volumes.
1.) Autoline Industries Ltd -- 1st breakout above 145 and now 2nd breakout above 158. This time it is supported with Huge Huge volumes.
2.) Lakshmi Precision Screws Ltd -- breakout above 62 levels. High volumes are also supporting this.
Readers are most welcome to post such charts or comments here regarding Breakout/ breakdown trading strategy.
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sumesh_sol
Brown Belt
Joined: 06 Jun 2010
Posts: 2344
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| Post: #2 Posted: Wed Jul 21, 2010 7:33 pm Post subject: Re: Breakout/ Breakdown Trades |
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Hi Chrome,
Good thread opened... Congratulation to you !
Well we have to keep finetuning this method. First we need to decide on Targets and Stoplosses. Moreover finding correct TL is another important thing.
Then time frames are also imporatant, as there could be gap up or down openings on any tf based on a breakout, so catching them at the finest moment is must.
Let's see how things shape up.
Here's a One month breakout on Aartidrugs with Volume, just check it out.
Cheers,
Sumesh
| chrome wrote: | Hi friends,
Starting a new thread for trades/ probables based on Breakout or Breakdown moves.
Resistances/ Supports when gets broken alongwith high volumes, results in good breakout or down in near term. Also, the resistance now becomes support and vice versa in case of break downs.
Posting some nice Breakout charts supporting with high volumes.
1.) Autoline Industries Ltd -- 1st breakout above 145 and now 2nd breakout above 158. This time it is supported with Huge Huge volumes.
2.) Lakshmi Precision Screws Ltd -- breakout above 62 levels. High volumes are also supporting this.
Readers are most welcome to post such charts or comments here regarding Breakout/ breakdown trading strategy. |
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chrome
Yellow Belt
Joined: 28 Dec 2009
Posts: 645
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| Post: #3 Posted: Thu Jul 22, 2010 10:22 am Post subject: |
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Hi Sumesh
Thanks for posting ur comments as well as a wonderfull chart too based on breakout setup.
I keep hunting this on EOD charts based, with keeping SL a few points below the breakout Zone. Basically, this is a positional trading strategy for me. Yes, at times we may face whipsaws where scrip may go a bit more down that Breakout zone and then rebound again..but that's how market shows its supremeness !!!
Anyways, all welcome for any finetune, comments on breakout trading strategy. Posting a few more charts based on breakout trading strategy.
1.) Corporation Bank- breakout above 560 (EOD)
2.) Ferro Alloys- breakout above 30 (EOD)
3.) Motherson Sumi Systems Ltd- breakout above 155 (EOD)
try to catch near to BO zones .
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karman1990
White Belt
Joined: 21 May 2010
Posts: 19
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| Post: #4 Posted: Thu Jul 22, 2010 10:35 am Post subject: |
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breakout in unitech....weekly TF.
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chrome
Yellow Belt
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vinst
Black Belt
Joined: 09 Jan 2007
Posts: 3303
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| Post: #6 Posted: Thu Jul 22, 2010 11:35 am Post subject: |
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| Unitech is showing bearish NVK
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chrome
Yellow Belt
Joined: 28 Dec 2009
Posts: 645
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| Post: #7 Posted: Thu Jul 22, 2010 11:45 am Post subject: |
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| vinst wrote: | | Unitech is showing bearish NVK |
A little -ve divergence in RSI in Unitech (EOD)..thats why i mentioned BO only above 86
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chrome
Yellow Belt
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sumesh_sol
Brown Belt
Joined: 06 Jun 2010
Posts: 2344
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| Post: #9 Posted: Thu Jul 22, 2010 3:03 pm Post subject: |
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Hi Chrome,
I just entered Unitech @86.15. What is your appx. Tgt..?
Regards,
Sumesh
| chrome wrote: | | karman1990 wrote: | | breakout in unitech....weekly TF. |
Hi Karman,
Nice Unitech chart u posted !
UNITECH is also making very beautiful Cup & Handle formation on EOD charts. Also, 86 will be a breakout point for the scrip. Hope, above 86 it will fly  |
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karman1990
White Belt
Joined: 21 May 2010
Posts: 19
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| Post: #10 Posted: Thu Jul 22, 2010 3:18 pm Post subject: |
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| sumesh_sol wrote: | Hi Chrome,
I just entered Unitech @86.15. What is your appx. Tgt..?
Regards,
Sumesh
| chrome wrote: | | karman1990 wrote: | | breakout in unitech....weekly TF. |
Hi Karman,
Nice Unitech chart u posted !
UNITECH is also making very beautiful Cup & Handle formation on EOD charts. Also, 86 will be a breakout point for the scrip. Hope, above 86 it will fly |
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90/92 may possible.
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chrome
Yellow Belt
Joined: 28 Dec 2009
Posts: 645
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| Post: #11 Posted: Thu Jul 22, 2010 3:22 pm Post subject: |
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| karman1990 wrote: | | sumesh_sol wrote: | Hi Chrome,
I just entered Unitech @86.15. What is your appx. Tgt..?
Regards,
Sumesh
| chrome wrote: | | karman1990 wrote: | | breakout in unitech....weekly TF. |
Hi Karman,
Nice Unitech chart u posted !
UNITECH is also making very beautiful Cup & Handle formation on EOD charts. Also, 86 will be a breakout point for the scrip. Hope, above 86 it will fly |
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90/92 may possible. |
Hi Sumesh/ Karman..yes 90-95 zone immediate target for Unitech above 86 as per me 
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karman1990
White Belt
Joined: 21 May 2010
Posts: 19
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| Post: #12 Posted: Thu Jul 22, 2010 3:27 pm Post subject: |
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| chrome wrote: | | karman1990 wrote: | | sumesh_sol wrote: | Hi Chrome,
I just entered Unitech @86.15. What is your appx. Tgt..?
Regards,
Sumesh
| chrome wrote: | | karman1990 wrote: | | breakout in unitech....weekly TF. |
Hi Karman,
Nice Unitech chart u posted !
UNITECH is also making very beautiful Cup & Handle formation on EOD charts. Also, 86 will be a breakout point for the scrip. Hope, above 86 it will fly |
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90/92 may possible. |
Hi Sumesh/ Karman..yes 90-95 zone immediate target for Unitech above 86 as per me |
why did'nt you give the bbtc chart earlier....superb breakout...
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sumesh_sol
Brown Belt
Joined: 06 Jun 2010
Posts: 2344
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| Post: #13 Posted: Thu Jul 22, 2010 7:27 pm Post subject: Adani |
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Can it be a consider as a breakout..??
I'm not sure abt the volume part in this. It was a very tight range, which has been broken after almost 2 months.
Chrome, for the purpose of Targets, I believe we can use nearest Support/Resistance zone or Fib. sequence.
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sumesh_sol
Brown Belt
Joined: 06 Jun 2010
Posts: 2344
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| Post: #14 Posted: Thu Jul 22, 2010 7:37 pm Post subject: ADANI POWER |
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Here is ASCENDING triangle pattern in making. It has NOT yet broken, but I believe if broken on high side, can take it higher (Tgts I don't know !!).
Moreover, Chrome please tell whether we should wait for the EOD CLOSING above BO point , or just keep limit order above resistance line.?
Regards,
Sumesh
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sumesh_sol
Brown Belt
Joined: 06 Jun 2010
Posts: 2344
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| Post: #15 Posted: Thu Jul 22, 2010 8:11 pm Post subject: Uflex |
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UFLEX seems to have broken its 3 months resistance.. Can it surprise by a big move . Chrome, your comments..?
-Sumesh
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