Beauty of Patterns

1 cze 2021

This is an Educational post.

*Trade Confirmations*

:- Breakout in daily time frame has a lower chances to fail.
:- A green candle has broken the trendline
:- Huge volume near trendline that acted as amazing support.
:- Good quarterly results.


*When to Buy*

:- Enter with half quantity after the trend line is broken.
:- Add the rest of quantity when the price is near the support/trendline/retest region.
:- This retesting region is a key level where many traders will start to buy resulting in a huge volume.

*When to Sell*

:- The gap between the 2 trendlines is calculated as the target zone.

*Some more points*

:- Triangle is not only the pattern out there. There are lots of patterns that are good too.
:- I personally like triangle patterns.
:- So, I'm posting the educational idea to let everyone know the power of patterns.
:- Remember there are a lot of people who see the same chart. So many many might have done the same analysis. that results in everyone buying the stock which will raise
the price

Why I like the Trading View Community ?

There are 1000s of stocks out there. Even a full time trader can't look at them all.
That's where the community plays an important role. There are many curious and intelligent minds out there who post ideas based on charts that helps other people to look at the chart.
So the 1000 companies or more can be easily scanned that saves a huge time.
However don't copy the analysis. With the stock name, open the chart yourself and draw the patterns to find key levels to enter and exit
Don't forget to plan the number of quantities that you'll take.
Plan everything before entering the trade

This is just my personal view on their community.

That's it. Congrats if you have read everything. You really are a curious and patient person because a person could be judged by the amount of patience they have while reading.

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All the best!