5 Confirmations for better trade entries ::
#StockMarket #nifty50 #investing
1️⃣ Restest/Pullback after at a Breakout Level
Retest after a breakout might not happen all the time; you can at least wait for a pullback and continuation in those cases.
#StockMarket #nifty50 #investing
1️⃣ Restest/Pullback after at a Breakout Level
Retest after a breakout might not happen all the time; you can at least wait for a pullback and continuation in those cases.
2️⃣ Volume Spikes
An increased volume in your intended trade direction signifies a good follow-up move. If they are falling, then you need to be careful too.
An increased volume in your intended trade direction signifies a good follow-up move. If they are falling, then you need to be careful too.
3️⃣ Wick Rejections
Long bottom wicks during pullbacks in an uptrend signify a follow-up move. Long top wicks in a downtrend can singal in more fall.
Long bottom wicks during pullbacks in an uptrend signify a follow-up move. Long top wicks in a downtrend can singal in more fall.
4️⃣ Key Crossovers
Although moving average is a lagging indicator, it can give an additional confirmation of a trend change, and when combined with price action, you can take better entires.
Although moving average is a lagging indicator, it can give an additional confirmation of a trend change, and when combined with price action, you can take better entires.
5️⃣ Look for Immediate S/R levels
Even after your strategy confirms you to take up a trade, keep a look at key immediate support or resistance levels as it can help you to stay away from low probable trades.
Even after your strategy confirms you to take up a trade, keep a look at key immediate support or resistance levels as it can help you to stay away from low probable trades.
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