Case Study 01- #WAAREEENER
(THE WAAREE ENERGIES LTD TRADE) 📈

How I caught this 12% move in this Young IPO BASE🚀

The Reasons behind selecting this stock to trade and how I executed it flawlessly are mentioned below:

- This stock came on my radar after the parent co. declared that it would be listing on the exchanges.

-After the IPO got listed, I glanced at the chart and saw that the stock, after an initial sell off in the first 30 mins, started making a base with the big red candle as the "MOTHER BAR CANDLE".

- As the price started trading inside the range of the "MOTHER BAR", it started making a strong demand zone level for the price which only meant one thing and that is that the selling pressure was getting absorbed at a much faster rate by the buyers.

Now, let's dive deeper into the price action of #WAAREEENER and learn how to catch explosive moves in these young IPO BASES.

But before we analyze the charts,

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Perfect analysis for this trade:

- #WAAREEENER price action analysis was simple after the initial support/demand base was formed.

Reasons:

- The price never retested the initial demand base which is a strong sign of buying strength.

- The price kept making higher lows which means that each instance of selling pressure was being absorbed by the buyers.

- The price was starting to contract in tighter zones after each instance of selling pressure which meant that the buying intensity was starting to ramp up at a much rapid pace.

- All that pent up buying pressure finally erupted as the price finally gave a breakout of that tight contraction zone with strong volumes and also closed strongly above the 21 EMA.

I entered on the breakout candle while keeping the breakout candle low as my intial SL.

Reasons for entering:

- Strong price action after the initial sell off

- Strong buying presence from the get go

- Strong volume buildup in key areas

- Strong price action after the initial demand base was formed

- Strong breakout candle with strong volumes

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