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ProdigalTrader Profile picture
@ProdigalTrader
Jul 14, 2020 • 3 tweets • 2 min read • Read on X
sbilife
icicipru

both these trades near to support and in nice uptrend
might resume uptrend soon ImageImage
strong move in both
#sbilife
#icicipru Image
strong move in icicipru
sbilife flat Image

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More from @ProdigalTrader

ProdigalTrader Profile picture
Aug 31, 2023
Thread 1
Pullback Trading - The reality

Pullback trading - trading an instrument when there is a weakness in the major Trend. For example suppose a stock is going up since last more than 80 days & is trading close to multi year highs it can be considered to b in upTrend.

1/18
As an additional confirmation one can make sure that moving average are perfectly aligned according to their length; 20>50>100>200. These two conditions filter all the stocks which are in bullish trends in medium term. This is where one stock qualifies for pullback trading.

2/18
One should avoid penny, illiquid and circuit mover stocks. Scan for stocks with price >20 and average daily volume > 100000 and also there should not be any open circuit freeze in recent past. This will remove nearly all the untradable stocks from WL.

3/18
Read 18 tweets
ProdigalTrader Profile picture
Jun 18, 2023
How do I go about with pullback trading ?

Detailed thread of the whole process

Step 1: Check the Higher TF which is monthly. Purpose behind this step is to make sure that the scrip is highly bullish in this TF.

Consider #aptecht

1/7 Image
The scrip has given an almighty breakout into new ATH last month and this month its being pulled back substantially. Here first criteria of strong bullish trend in HTF is satisfied with a fresh ATH breakout.

Step 2: Chk weekly TF to assess the details of breakout

2/7 Image
1. BO is from an inv. H&S pattern
2. There was 3WTC pattern just prior to BO
3. BO had a strong follow up week with higher ROC
4. Pocket picot volume on BO and follow up bars
5. Pullback lack volume and last bar is bullish pinbar

These confirms the BO is really strong

3/7
Read 7 tweets
ProdigalTrader Profile picture
Oct 13, 2022
What exactly is Trading Psychology?

Its simply an approach by means of which a trader is able to make most logical decisions and act precisely upon it. There is nothing else to it

How to build it?
It varies from one trader to another. I will exemplify one of my friend here

1/7
He had severe issues with cutting his loss. He will just keep holding it hoping for a reversal to wipe off his loss. He never take SL.
But he found a seemingly stupid but practically wonderful solution to it.
Instead of SL hit , he started thinking "Sunny Leon hit"

2/7
It was around that time Sunny Leon started acting in main stream movies as well. He just gave a definition to SL so that he is not scared of it any more, rather likes it very much.

What happened is that he wasnt worried about cutting loss anymore.

3/7
Read 7 tweets
ProdigalTrader Profile picture
Sep 17, 2022
Most traders conceive that strongest chart patterns are the ones which are most visually convincing. They are pushed to think those patterns offer high probability trades.
But the truth is patterns are just consolidations where trend continuation demands accumulation

1/8
and reversal demands distribution (uptrend case). This criteria has nothing to do with how the pattern looks to ur eyes. Trend continuation patterns starts with profit booking where price might dip with comparably big red bars which fizzles out faster.

2/8
Price reaches a point where buyers find it as fair value. It's here price starts accumulation. Price makes sideways trendless move here till supply no longer able to contain price inside the range. It's here demand finds further strength and price goes up.

3/8
Read 8 tweets
ProdigalTrader Profile picture
Mar 20, 2022
Mechanism behind stock price movement

Look at the table below. Its bid/ask table for an imaginary stock
CMP is 149.90
Highest bid is at 150 and lowest ask is at 150.
So the next trade will happen at 150 increasing the price.

1/6
But buy orders for 2500 quantity are there at 150 while there is only 200 quantity to sell.
What will happen now?
There are 2300 pending buy order at 150 with all the asks at 150 os exhausted. They will have to buy at next best ask level which is 151.

2/6
He will buy all the 150 number of shares available at 151. Now the price increased again
CMP 151 with huge quantity to buy but poor qunatity to sell

Price movement depends on how rushed or agressive either parties are

3/6
Read 6 tweets
ProdigalTrader Profile picture
Mar 19, 2022
When a conceptual content is posted in Twitter, how would u treat It?

Absolutely all the info can b tweeted as one liner punch dialogue. But some topics, some handles, sometimes posted as fairly lengthy threads.
Where does it differ??
What does it offer??

1/11
Suppose I post a lengthy thread in 10 tweets, what I attempt is to provide a primer on the subject. Putting it more simply, its like a 7min Highlights of a 7hr ODI match.
Similarly a thread gives u a very good idea about a topic so that u get a fair understanding on it

2/11
It helps u to decide.
If u found it not good enough, u can leave it then & there.
But If it's suitable to ur trading, then u need to go through the reference books, videos and blogs to dig it in deep and study it in-depth.

3/11
Read 11 tweets

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