Authors The_Chartist 📈
AWL - look at the ranges of contraction on the chart https://t.co/2XMhqZQu8X
Borosil Renewables - Patterns like these must be looked at carefully and must be kept on the radar. Herein price is contracting which generally signifies shifting of hands (from weak to strong). If you go wrong, the risk is limited in these. pic.twitter.com/iqyoeslZjy— The_Chartist \U0001f4c8 (@charts_zone) July 12, 2021
Conditions - Healthy uptrend and retracing.
But - you don't know how deep the retracement will be.
So, what to do?
Example - Minda Corp Chart
Healthy uptrend? Yes
With every retracement candle, we move our buy limit order at candle's high. So the first order we placed at 1. In a way, we are telling the broker to buy when the price crosses 1.
Ok. So it has gone down further the next day, we shift the buy order at 2.
Then again at 3
Then at 4.
We do it it'll it is triggered and shares are bought. In this way, we dodge Fibonacci numbers. As by drawing 38% of 61.8% we couldn't ever know till how deep the stock goes.
You can use the same with your SIP stocks for long-term investment while buying at the dips. As you never know till how deep it dips. :) So, you will have cash always till you buy near the bottom. Of course of retracement, not the trend reversal.
A healthy uptrend is the first condition. Happy investing :)
That is why you must learn about what each legend has written. You can save a lot of your hard-earned money. Place a SL little above candle's high.
Adani Ports - updated chart. Fast forward & the stock is almost at the same level. However, the symmetrical triangle met its target exactly and became a part of a major triangle.— The_Chartist \U0001f4c8 (@charts_zone) December 14, 2021
What makes it interesting is support is also 200 MA which adds another confluence point https://t.co/Tx52lzy9ZV pic.twitter.com/Cq67WNCHS3
Some went into the watchlist and some were actionable where my few long positions are already open.— The_Chartist \U0001f4c8 (@charts_zone) December 25, 2021
What am I looking at in the charts? Flat base formation breakouts/Pullbacks/Trendline support. Keep it simple. Ex attached.
29/95 for further funda scans. P<100 (I don't trade) https://t.co/y4PKUBrA44 pic.twitter.com/e9cvcrKsnu
~ capitulation move
~ no further selling left
~ a major TL validated on a weekly scale
~ highest R:R ratio
With such capitulation & tight SL = capital put in was 30%
Risk = 50, Reward = 350
Jubilant Food https://t.co/M1vLYEsngf
The selling climax is accompanied by volume bars of such magnitude that I highlighted in the chart. In almost all cases, they signify that even the last bull has thrown in the towel & there is no further selling left. Will observe in this case.— The_Chartist \U0001f4c8 (@charts_zone) March 15, 2022
Jubilant Food pic.twitter.com/j7bGSdhkRW
Target opened as per the pattern is 8900 https://t.co/nRqYqPnPB3
Tata Elxsi https://t.co/HGCzOz1ALI
Correction \U0001f447— The_Chartist \U0001f4c8 (@charts_zone) March 20, 2022
During upward breakouts, I have to consider price targets and not %age targets. Therefore the target comes out to be 8540 and not 8900 as mentioned before.
The chart stands updated.
Tata Elxsi https://t.co/sdP9X1s9qs pic.twitter.com/Gmhn3OYiNA
Most interesting chart:— The_Chartist \U0001f4c8 (@charts_zone) February 12, 2022
Orange line = Gold
Blue Curve = Gold/S&P 500
Previously the ratio crossed 50 days MA in Feb' 20 with Gold giving a breakout on the charts. The previous cross of 50 days MA didn't result in gold breaking out. pic.twitter.com/HRG1fvsILp