Have you ever felt a lack of research as a cause of losing money?
Get out of the trap by focusing on price action and following the market to make money from smart money’s research.
A Mega Thread on Price Action Trading!🧵👇
#LearnWithChartmojo #stocks #trading
Have you ever felt a lack of research as a cause of losing money?
Get out of the trap by focusing on price action and following the market to make money from smart money’s research.
As suggested by the name, price action is the plot of a security’s price movement over a particular period.
Traders use this data to understand the temperament of the markets to make money trading profitably.
Price action trading is a widely used trading technique that relies on reading, analyzing, and interpreting the price movement of a particular security and the subsequent patterns formed due to it.
In its essence, price action trading capitalizes on the crowd mentality inherent in the markets and the consequent repetitive price behavior. It provides a psychological edge in its leading nature.
Price action trading helps a retail trader understand the analysis done by the big players with sophisticated tools by looking at the price movement of security without being affected by various noises prevalent in the financial world.....
.....Furthermore, it helps us see the interaction between the multiple players in the market. Intimidating, right?
There are several types of charts on which a trader can do plotting of price movement; sometimes, for example, line charts, bar charts, point and figure charts, candlestick charts.
Candlestick charts are the most valuable charts since candlesticks show four price points throughout a period and provide the perfect infrastructure for analyzing patterns.
A candlestick or a Japanese candlestick is made up of a rectangular body that depicts the Open (O), High (H), Low(L), and Close(C) of the movement of a stock.
The three components of a candlestick include the following, real body or the part connecting the opening price and the closing price, the upper shadow, and the lower shadow.
A group of candlesticks present chart patterns that help us systematically reach entry and exits for trades. Applying price action trading techniques helps us understand the language of the markets in terms of recurring patterns formed in the markets.
As is well known, the markets don’t move unidirectionally, sometimes bulls win, sometimes bears and sometimes it’s a draw. A trendline helps visualize who is winning.
Theoretically, an excess demand over supply causes an upward trend; an extra supply over demand causes a downward trend, and a supply-demand match results in a sideways movement or consolidation.
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TradingView isn't just charts
It's much more powerful than you think
9 things TradingView can do, you'll wish you knew yesterday: 🧵
Collaborated with @niki_poojary
1/ Free Multi Timeframe Analysis
Step 1. Download Vivaldi Browser
Step 2. Login to trading view
Step 3. Open bank nifty chart in 4 separate windows
Step 4. Click on the first tab and shift + click by mouse on the last tab.
Step 5. Select "Tile all 4 tabs"
What happens is you get 4 charts joint on one screen.
Refer to the attached picture.
The best part about this is this is absolutely free to do.
Also, do note:
I do not have the paid version of trading view.
2/ Free Multiple Watchlists
Go through this informative thread where @sarosijghosh teaches you how to create multiple free watchlists in the free
3/ Free Segregation into different headers/sectors
You can create multiple sections sector-wise for free.
1. Long tap on any index/stock and click on "Add section above."
2. Secgregate the stocks/indices based on where they belong.
Kinda like how I did in the picture below.
It's much more powerful than you think
9 things TradingView can do, you'll wish you knew yesterday: 🧵
Collaborated with @niki_poojary
1/ Free Multi Timeframe Analysis
Step 1. Download Vivaldi Browser
Step 2. Login to trading view
Step 3. Open bank nifty chart in 4 separate windows
Step 4. Click on the first tab and shift + click by mouse on the last tab.
Step 5. Select "Tile all 4 tabs"
What happens is you get 4 charts joint on one screen.
Refer to the attached picture.
The best part about this is this is absolutely free to do.
Also, do note:
I do not have the paid version of trading view.
2/ Free Multiple Watchlists
Go through this informative thread where @sarosijghosh teaches you how to create multiple free watchlists in the free
\U0001d5e0\U0001d602\U0001d5f9\U0001d601\U0001d5f6\U0001d5fd\U0001d5f9\U0001d5f2 \U0001d600\U0001d5f2\U0001d5f0\U0001d601\U0001d5fc\U0001d5ff \U0001d604\U0001d5ee\U0001d601\U0001d5f0\U0001d5f5\U0001d5f9\U0001d5f6\U0001d600\U0001d601 \U0001d5fc\U0001d5fb \U0001d5e7\U0001d5ff\U0001d5ee\U0001d5f1\U0001d5f6\U0001d5fb\U0001d5f4\U0001d603\U0001d5f6\U0001d5f2\U0001d604 \U0001d602\U0001d600\U0001d5f6\U0001d5fb\U0001d5f4 \U0001d601\U0001d5f5\U0001d5f2 \U0001d5d9\U0001d5e5\U0001d5d8\U0001d5d8 \U0001d603\U0001d5f2\U0001d5ff\U0001d600\U0001d5f6\U0001d5fc\U0001d5fb!
— Sarosij Ghosh (@sarosijghosh) September 18, 2021
A THREAD \U0001f9f5
Please Like and Re-Tweet. It took a lot of effort to put this together. #StockMarket #TradingView #trading #watchlist #Nifty500 #stockstowatch
3/ Free Segregation into different headers/sectors
You can create multiple sections sector-wise for free.
1. Long tap on any index/stock and click on "Add section above."
2. Secgregate the stocks/indices based on where they belong.
Kinda like how I did in the picture below.
