Discover and read the best of Twitter Threads about #priceaction

Most recents (16)

[1/7] Technical analysis can be very complicated if you don’t focus on the most important basics, such as support and resistance levels. These areas represent a psychological level where the game is played between buyers and sellers.

#priceaction #trading #stocks #forex
[2/7] Let me give you an example:
If sellers overcome buyers, they will push the price below the support level. Some buyers will feel afraid to lose money because they see that the support level is broken. So, they will get out, and sell the market again to cover their loss.
[3/7] Other participants will notice that sellers are in control of the market, they will decide to sell the market and help the bears push the price to go down.
Read 7 tweets
I am working on an Amibroker AFL which can scan & give me stocks which are rising for last 5 days on falling volume. If the stock is rising with reduced momentum then it would be an ideal candidate to short on the break of previous day low.

Example IndusindBk
Just translating my ideas into AFL so that I dont need to manually scan 100s of stocks. This AFL can also be customized to scan stocks which r in pull back mode on lower vol after a breakout. This way they r ready to explode up on break of prev day high & vice versa for shorts.
As promised I have added a couple of volume scanners. Please experiment with them & develop your own trading strategy to make the best use of these. With right #priceaction combination these #volume scanners will help find high probability trades.
Read 3 tweets
Build your stock scanner

If you want to get BEST results in trading, keep eyeballing charts manually & give max time for manual screening & scrolling. This will help you understand the behavior of an individual chart & will help you strengthen your #PriceAction skills.
Above all it will help you build your own scanner becoz you know what works what doesnt. More time you do this, more confidence you will get on your trading skills & eventually it will help you in making more money. It's a journey you have to travel & there is no shortcut.
Every week, I keep testing new ideas & build new scanners in Amibroker which helps me scan stocks matching my buy/sell criteria. The criteria could be any condition, any indicator, 52HL etc. You are just translating your thoughts into a scanner to get you the results you need
Read 5 tweets
As promised I am sharing the commentary of today's #PriceAction on #BankNifty future 15 minutes chart. I trust you will find it useful for learning purpose.

Each bullet point is reference with the candle number for easy understanding.

1. Gap down open, price closed below demand zone with ultra high volume. Long upper wick, signs of selling pressure.
2. Next candle bearish with less vol than prev candle, price closed below 1st candle, small tail. Selling pressure continued
Read 12 tweets

You can ride a fresh & strong BO with 15M charts with these 3 things -
1. EMA21
3. Fractals

These 3 provides enough confluence & confidence to ride the trend. Back test this concept to get your own level of comfort.

You can also build your own system on these 3 tools and I guarantee that you will not be disappointed if you use these tools well. Remember, #PRICEACTION still stays the base.

I will share charts to explain this soon but do your weekend homework to build your confidence.
I know lot of people may be hearing fractals for the first time but trust me it can complement your #priceaction trading. Google it to learn the basics and I will explain the magic via charts soon. I will also share some rules to trade with fractals.
Read 4 tweets
Mujhe aisa kyu lag raha hai ki #TATASTEEL ne aaj tank full kar liya long drive ke liye 🏎️🏎️🏎️

Ok. Here is the 15m chart for your review. Let me know what do you make out of this? I will explain my view later...

Remember, it is bouncing back from its 52W lows & recently faced a lot of supply in 480-482 zone.
Here is my view -
1. After 52W low it bounced back on 30Jan with good vol & bullish candle
2. Next day it closed abv EMA21 but small candle
3. 1st Feb is made a weak Doji (possibly profit booking by people who got stuck from higher levels)
Read 8 tweets
I trade what I preach & I preach what I have learnt so in simple words if you practice only what I preach, you can fast track your learning curve.

ICICIBANK has bounced from demand zone & 350CE got more than double. I will share the chart in the evening!

Attaching the daily & hourly chart of #ICICIBANK.

#PriceAction cant be learnt simpler than this. Just using demand zone on Daily & knowing the critical levels & checking how price behaves on Hourly can do the trick. Hope it helps you learn demand zone better.

Read 8 tweets
All you need to know about key candlestick patterns & powerful chart patterns. These are key ingredients of #PriceAction trading so go through these nicely.

Retweet to spread the word

Dear friends,

Pls RT to spread the awareness so that larger audience can benefit. I found these pics very useful.

@thedumbtrader @niftywizard @Amit_Gulecha @chief_vk @sanstocktrader @BissaGauravB @Trendmyfriends @priceinaction @Rayner_Teo @Deishma @SirNumber7 @matrix_trader07
Managed to get another version of high resolution picture for candlestick patterns. Hope it helps.
Read 3 tweets
@Traders82 Today I will start a new chapter of #PriceAction trading & the topic is -

#Chapter4: Understand Supply & demand zones

So are you excited? I heard YES. So let's start!
Now that U understand what a market structure is & what are the 4 stages of a stock or index, the next logical step is to understand the supply & demand zones & how to use them with structure to spot high probability trades. This is different than single line S/R so pay attention
Recap: A structure is nothing but spotting higher high, higher low, lower high & lower low on any given chart to know the trend & to understand the context in the left as to what a stock has been doing. #BankNifty daily chart shows the structure for 1 year.
Read 19 tweets
#MARUTI is taking support in 7161-7170 zone & a close below (or 1-2 hours trade below) 7154 can trigger the entry towards 7025/6940/6776. View invalid above 7384

Hope you enjoyed #MARUTI shorts today. Power of simple #PriceAction

#MARUTI all targets met. Over exceeded the expectations. This call is closed. Hope you enjoyed!


@niftywizard @Trendmyfriends @BissaGauravB @Deishma @chief_vk @thedumbtrader @Amit_Gulecha
Read 3 tweets
For those who think that #PriceAction is Holy Grail & I always make money on every trade, here is #YESBANK trade in which I lost small money today. It was a 1:4 RR trade but didnt go well. Its Ok.

Sharing entry logic. Has been taking support on this line so entered at candle 1.
Guys I have shared the logic why I entered. It was one of the setups to spot reversal & I will cover this also in the upcoming sessions. No setup will give 100% accurate trade all the time so its ok to have a failed trade. If u fear like this, u will never enter a reversal trade.
and in all reversal trades (long), price will always be below all major MAs so there is nothing wrong. If u hv any specific learning from this failed trade, please learn & move on & chill. I am happy that with this so many thoughts are provoked which is a good sign of learning.
Read 3 tweets
#QuickQuestion: If everybody is selling LT on bad news, then who is buying? Socho socho πŸ€”πŸ€”
Looks like you guys didn't understand the hint.

It was a well planned trap for retail & I'm sure many got trapped today.

If LT gives a low volume test of today's low, enter long upon price reversal confirmation. Keep an eye!

Will explain this via chart in the evening.
Look at this chart & understand the psychology -
1) Whole India was short on bad news
2) It was expected to open gap down
3) If news was such bad it shd continue the fall but it didnt happen
4) Look at massive volume on candle 1 (5min). Opened low, went up till 1301 & closed +ve
Read 8 tweets
Today there were few intraday opportunities to long and short in #BankNifty. Did you catch any? Plenty to learn from the charts today to catch both side moves. Analyze and let me know and I will help clarify your doubts.

Sharing my analysis for 9th Jan #BNF possible trades on #PriceAction:
1) Day started with a weak candle closing near the lows so 1st short was below the low of it. Target EMA21.
2) Price took little support & bounced back. You can scalp for quick profits here as well.
3) After that price couldnt sustain the upmove & closes below EMA21. Exit longs but no shorts yet until the recent low breaks convincingly.
4) It tried to break the low but not convincingly & we see a Doji shows weak selling & good buying pressure. Watch for next 1-2 candles.
Read 6 tweets
#PriceAction learning quiz:

This stock is in strong Uptrend. If you have to take a fresh position what will you do? Answer all 4.

1) Will you go Long/short?
2) Share the reason for your decision
3) At what price will you go long/short?
3) What would be your SL?

Please explain your answer in 1 single post & answer all 4 questions together. Dont split your answers in multiple posts. I wont be able to respond to split posts. This applies to all future quiz posts from me. Let's go organized please.
Great to see active participation. Questions to ask yourself -
1) Will U short now or will wait for price confirmation?
2) At what point will U call that it failed to make HH?
3) Do U C signs of distributions?
4) Did it close below EMA21 with higher momentum yet?

Read 6 tweets
1st signs of reversals at seen on lower TF in BNF. Let's wait to see if the retest happens at lower volumes. Post that if #PriceAction confirmation happens, one can go long. Till then wait patiently & enjoy your popcorn :)!
#BNF behaved 100% inline with #priceaction attributes. Did a couple of low volume tests and moved up smartly trapping bears who are selling on rise. Don't think like everyone, Think outside the box ;)
Here is the full analysis of this early reversal pick trade. Its important to know the context & background to understand what happened today in BNF. With RBI governor resignation & exit poll results (mostly not in favor of BJP) there was enough bad news in the market.
Read 15 tweets
A beautiful textbook type H&S pattern is developing in #Ashokleyland. Recent rise to 123 levels are rejected & below 100 it may travel to 30. Setup invalid on the close above 125 #PriceAction #WeekendLearning @sanstocktrader @Amit_Gulecha @rachitpjain @CAtLarge @ravi_mehata
#ASHOKLEY below 108 can head towards 105 & 102 in coming days. Price Action not supporting the higher prices as huge supply is present between 111-115 zone. Keep it on your watch-list! #PriceAction
#Update on #ASHOKLEY

Head & Shoulder pattern is working exactly the way it should. Already given 14.5 points profit below 100 as it has made a low of 86.5

Hope you enjoyed the power of simple price action strategy!
Read 3 tweets

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