Many of u know candlestick patterns, RSI and other indicators. moving averages, Bollinger Bands etc.
Many of u know charting and exact trend analysis
But so many of u struggle in market to be profitable consistently.
Is this lack of knowledge? No definitely not.
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But then how would u connect a good analysis with profitable trading ???
If u can find answer to this question,
then u can start ur journey as a profitable trader and take it up as a serious career
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This weekend I will address this issue with a complete article discussion at ConfluencE channel
With Example on Most Popular method of Trading 'Breakouts"
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U will find all the answers u are looking for regarding
Why wasn't I in Profit even though I spotted a great breakout ??
How would I approach the trading with a quality breakout ??
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Detailed description at
ConfluencE- ProdigalTrader TG Channel
Subscription Fee
600/- for 30 days
900/- Fee till 30th November
For subscription : prodigaltrader.in@gmail.com
(pls use correct mail ID, Do remember to add '.in' to prodigaltrader in the mail ID)
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I will describe a small personal story with analysis and trading on IRCTC
Here is the IRCTC chart with few numbers are marked in it. I will walk u through the analytical and psychological aspects behind it, point by point.
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1
Strong uptrend
Pattern is under formation
Let me wait for the completion of the pattern
i will go long here
2/13
2.
Pattern formed completely
next day a red bar formed with low volume, i thought supply is less
good to go long next day, if today high is broke out.
Next day, previous high broke out with good volume
Perfect to go long at 2767
Successful bullish reversal after Retesting the recent breakout is the least risky method to go long in strong trending scrips.
Indorama
Welspunind
Mhril
Chennpetro
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Real challenge is finding the right scrips. Whiel making breakouts, stocks will be there in all sorts of news and websites while those on retest where its available far cheaper, will go unnoticed