When ever you enter into long position, it is make sure that price is near support zone.
Take partial profits near resistance zone. #supportzone #ResistanceZone
How to get support and resistance zones for any stock?
Search stock > see the support and resistance
#supportzone
How we calculated these data?
> These are calculated based 12 - 14 months (280 daily candles).
> Calculate how many times a price closed at a particular price.
> If a price closed 420, 421 422, 419 in different times then consider 420 occurs 4 times(1% approx)
#resistancezone
Resistance points also calculated as shown above.
There could be multiple resistance points.
> Select a point which has more connected points
> Then select a point which has huge volume.
This is available only Daily candles soon will add them for week & month
> Search for any NSE stock,
> you will get full info 1. Score 2. Technical summary 3. Pivot points 4. Support zone 5. Resistance zone 6. Patters for daily, weekly and monthly 7. OHLC with volume.
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1. Trade can initiate the next day opening price with 1% or 2% of stock price as SL.
2.Risky Traders can enter into trade at 3.15 to 3.20 pm on the same day when price crosses above the monthly pivot point.
3. Target can be 2% or 3% or 4%
4.When we back tested with 2% SL and 4% target given the best results.
5.User can keep any of these risk rewards
Risk reward ratio: 1: 2
Risk reward ratio: 1: 3
Risk reward ratio: 2: 4(Given the best results)
6.User can close the trade with in 3 days if they achieve target or if SL hits.
7.If user wants to continue the trend then SL should be moved only when they achieved initial target. 8. You can add any other indicator for confirmation eg: SMA 20, ADX > 25.
Scans -> Investment patterns -> High Momentum pattern.
Conditions to qualify stocks in this criteria: 1. Min price should be greater than 30 2. The current price must be at least 50% above 52 weeks low.
3. The current price must be within 25% of the 52 weeks high. 4. The current price must must be trading above 50-day and 50sma > 200 sma. 5. Every 6 weeks should have made new high. so check last 6weeks price is greater previous 6 weeks high price.
> Now click on patterns > candlestick > dragon fly doji pattern
> It will highlight on the chart where it occurred in the past also.
> Now u can check whether this pattern is respecting this stock or not.
> It is easy to backtest with ur eyes.
> U can check the same thing for Daily/Weekly/Monthly also.
> Once u found , stock is respecting this pattern then take position based on that.
Started reading the A complete Guide to Volume Price Analysis #book#VPA
Based on my understanding created below patterns 1. Price and volume raising
> Bullish: price closes above the previous candle and volume is greater than previous candle.