Granuels- A Chart with Multiple Indications
This chart reflects various aspects of technical analysis. Let's understand them
1. Price action perfectly shaping up for a move (Pink line reflecting behavior of price).
2. Price taking support at previous breakout levels(Resistance acting as support for the stock).
3. Price making a flag pattern too. (Draw a trendline below the already drawn one.) A trend Continuation Pattern which provides a lot of confidence to all the trend traders.
4. Volume picking up the pace as the price is trying to move up (What do u think who is making all these positions?).
5. A hammer with big tail/wyck reflecting strong interest of buyers which pushed it back up.
What else do we need before entering a trade?
Hope it will help you understand.....
Cheers and Happy Trading.
Disclaimer: I am not SEBI registered. Please trade with caution and manage your risk. Consult your financial advisor before entering into any trade.
1. Price action perfectly shaping up for a move (Pink line reflecting behavior of price).
2. Price taking support at previous breakout levels(Resistance acting as support for the stock).
3. Price making a flag pattern too. (Draw a trendline below the already drawn one.) A trend Continuation Pattern which provides a lot of confidence to all the trend traders.
4. Volume picking up the pace as the price is trying to move up (What do u think who is making all these positions?).
5. A hammer with big tail/wyck reflecting strong interest of buyers which pushed it back up.
What else do we need before entering a trade?
Hope it will help you understand.....
Cheers and Happy Trading.
Disclaimer: I am not SEBI registered. Please trade with caution and manage your risk. Consult your financial advisor before entering into any trade.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.