Another way to create a new position or add to an existing one (Pyramiding), known as Squat!

Read on:
Bought #Dixon using 4 to 8 weeks breakout method using the weekly time frame.

The stock went below the breakout line & stayed lower for a few days (Daily frame). Came back up above the line again which is where I bought more. Imagine the legs exercise behaviour, Squat. ImageImage

Cup & Handle breakout on the daily frame. The stock went below the breakout line and stayed lower for a few days. I bought when it came back again & 'closed' above it. Another squat behaviour. ImageImage

1st entry - Bought 4to8 weeks breakout.

Same squat behaviour on the daily frame. Price went & stayed below the red line for a few days. Came back up & closed above it which is where my 2nd entry was. ImageImage
You can use Squats for pyramiding or for creating a position where you missed buying on the first breakout.

P.S: Let the price 'close' above the old pivot line before you create a position.

Important points to add here:

- The stock should stay below the breakout line for a few days. Like all my above examples show. I'd not buy if the price goes down & comes back up the next day itself.
- The lesser the fall, the better the buying strength
- Low volume on down days

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More from @iManasArora

13 Jul
#NewPosition - LONG in #JAICORP at 157 Image

166 (5r gains)

A free trade now Image

Sold 1/3rd at 169.45 (at 7.5 times the risk)

Bought at 157 with 1% stop Image
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