Tested resistance and reversed. CMP 160.. there will be opportunities to add at the rising small trendline support..
There it is - we had the opportunity to add Greenply industries at the trendline support. Good levels to add even now for investment #Greenply#trendlines#investing#Monthlycharts
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It took me 10+ years & more than 1000+ hours of practice…
to master these 5 IMPORTANT RULES WHILE DRAWING TRENDLINES 🎯
These simple rules, if mastered, can help one spot HIGH PROBABILITY TRADES!
Ready to learn?🤓
Let’s go🧵…
1⃣ Trendlines are zones and not a single line!
- Due to volatility in price, many times prices tend to spike on both sides
- So, consider trendlines as zones from multiple swing highs(include wicks) to get the best fit trendline
- Your winning probability increases with zones
2⃣ Trendlines with more touchpoints
- Any trendline with 3 or more touchpoints is a very significant one
- The price points around significant trendlines are important & should be watched
Master the art of trend reversal patterns & protect your hard-earned money!🤓
In this thread, you will learn...
3⃣ Types of TOP REVERSAL PATTERNS...
...that will signal a change in the direction of the existing or predominant uptrend!
Let's go...🧵
Before we start, If you are person who enjoys watching videos for a detailed explanation you can watch this video where I explain everything...
Else, read on... 📚
1⃣ Failure Swing
- Price makes a high & then the next high fails to cross the previous high
- Price now breaks the swing low between the two highs thus signalling a potential sell
- This sell signal indicates a potential change in trend
It took me 1000+ hours of practice to...
...learn how to NAVIGATE FALSE BREAKOUTS🎯
In this 🧵, I will be sharing 6 techniques...
...as to how I try to avoid getting CAUGHT & LOSING MONEY💰 trading breakouts
Ready to learn?🤓
Let’s go🧵…
1⃣ Cardinal rule: Stop chasing breakouts...
- If everyone is talking about it on social media and it has already broken out
- If a stock has moved up already for the last few days
- If a stock is up more than 10% already from breakout zone
- If your SL is deep
2⃣ Enter only on breakout & nowhere else if you're trading breakouts...
Buy only…
- above breakout zones (no entry in no-man land)
- above a key resistance zone after a stock consolidates
- 1-2% above resistance zone
- Identify entry points(set alerts on TV/set GTT in zerodha)