#Ichimoku #RSI #priceaction
The above chart shows that Last session nifty has maintained to support the current cloud's leading Span A, But the lagging span plotted 26 days prior indicates weakness, the conversion line + base line are neutral to bearish.
So we can expect the volatility to continue, the lower time frame(1hr) analysis will gradually give the indications where the trend is headed.
RSI has resisted the bearish levels and it not above to move above 70 which indicates that the investors are ready to buy from the above levels for now.
The trend will resume once the RSI will again be above 70 level.
Now we witnesses is that it is resisting the 60 level which is technically not good for bulls.
>>Will have wait for the institutional buying selling data to confirm the next wave. Though FIIs have infused 7k cr in last week, we didn't witnessed a good price move upwards.
The above chart shows that Last session nifty has maintained to support the current cloud's leading Span A, But the lagging span plotted 26 days prior indicates weakness, the conversion line + base line are neutral to bearish.
So we can expect the volatility to continue, the lower time frame(1hr) analysis will gradually give the indications where the trend is headed.
RSI has resisted the bearish levels and it not above to move above 70 which indicates that the investors are ready to buy from the above levels for now.
The trend will resume once the RSI will again be above 70 level.
Now we witnesses is that it is resisting the 60 level which is technically not good for bulls.
>>Will have wait for the institutional buying selling data to confirm the next wave. Though FIIs have infused 7k cr in last week, we didn't witnessed a good price move upwards.
📊 How to use price action setup with INDICATORS?
👆 Follow the above setup that might be useful for a legitimate entry for short term trading.
1. Draw the trend line with most obvious touches and most number of candles.
2. Find the support- resistance levels.(area of value).
3.Determine the trend direction and its strength.
4. See at the support- resistance levels is there a buying or selling pressure. (Candlesticks patterns.)
5.Confirm and predict with any legitimate indicator that you use for your trading frequency. (For short term traders- stochastic oscillator.)
📈 Accordingly enter the trade buy or short with risk management.
👆 Above is an example for a SHORT TRADE SETUP.
#tradingstrategy #trendanalysis #Stochastic #priceaction
👆 Follow the above setup that might be useful for a legitimate entry for short term trading.
1. Draw the trend line with most obvious touches and most number of candles.
2. Find the support- resistance levels.(area of value).
3.Determine the trend direction and its strength.
4. See at the support- resistance levels is there a buying or selling pressure. (Candlesticks patterns.)
5.Confirm and predict with any legitimate indicator that you use for your trading frequency. (For short term traders- stochastic oscillator.)
📈 Accordingly enter the trade buy or short with risk management.
👆 Above is an example for a SHORT TRADE SETUP.
#tradingstrategy #trendanalysis #Stochastic #priceaction
#nifty #Priceaction
➡️The Monthly chart of Nifty indicates that we can see wick on the upper side of the candle, which hints the selling pressure for that current trading period.
>> If the monthly closes below the 14530 level which is also the prior monthly close, we can expect a further correction.
>> RSI is also resisting the 70 level mark.
* One should always confirm the higher time frame levels despite trading the swing or positional trading system.
➡️The Monthly chart of Nifty indicates that we can see wick on the upper side of the candle, which hints the selling pressure for that current trading period.
>> If the monthly closes below the 14530 level which is also the prior monthly close, we can expect a further correction.
>> RSI is also resisting the 70 level mark.
* One should always confirm the higher time frame levels despite trading the swing or positional trading system.
What are support and resistance levels in Technical Analysis?
👉SUPPLY - RESISTANCE (The area of value From where the asset starts losing its buying strength, here sellers dominate buyers and push the prices down)
👉DEMAND - SUPPORT (The area of value From where the asset starts losing its selling strength, here buyers dominate sellers and lift the prices up)
#priceaction
👉SUPPLY - RESISTANCE (The area of value From where the asset starts losing its buying strength, here sellers dominate buyers and push the prices down)
👉DEMAND - SUPPORT (The area of value From where the asset starts losing its selling strength, here buyers dominate sellers and lift the prices up)
#priceaction
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👆SIMPLE STEPS FOR ANALYSING A TREND.
CONFORMATIONS OF A TRADE YOU CAN TAKE.
#priceaction
#trendanalysis
CONFORMATIONS OF A TRADE YOU CAN TAKE.
#priceaction
#trendanalysis