TATASTEEL :
I went SHORT yesterday , remember.
Lets dig why , and why the header is Classic Charts.
My positions were in line with Long Term Falling Channel as prices have re-entered into it , giving us super trading opportunities for enormous fall .
But wait , today looking for my exit plan of the position , I figure out one newer channel in which prices is rising is also into play. Its a STRONG Channel . As strong as longer one but its just its a newer channel.
Older the channel (more touch points) , Stronger it is.
Clubbing it with MACD in different time frames ,the newer channel falls weak here as well.
The submerge of 2 channels and prices exactly ticking (380-390) ,on the verge of breakdown at longer channel perspective and bounce from newer channel reference , taking decisions is a challenge to traders.
It will be a NEW LEARNING at least for me , now how prices will react. Which channel will be respected .
TISCO channel validity ,daily , weekly charts ( biased for longer term channel as mentioned above)
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I am already into a position and can't hide under the bush of new learning , making my trading into Gambling.
Money Management will make me sail through these tough times.
I am into 400PE. I will be cutting all positions early today.
I will be taking 1 lot , just 1 lot 360PE ( as I feel if longer channel is respected , fall will be severe).
Tomorrow , it has results. Charts are too challenging for me too keep any aggressive positions.
1 lot money should be in the ring as going with rule , stronger channel , larger respect.
HINDALCO :
Another script from the same sector .
The charts here are also not a cake walk.
This turmoil depicts the metal demand equations in turmoil in China . News flows from there impacts fundamentally to particular these stocks giving them wild moves . I have no knowledge what they talk about.
Please comment which channel you think is into play in Daily Charts below.
I am negating RED channel as volume since 2 days have been heavy , which should not have been the case if Red channel is in play. This makes a strong case of Black Channel as, prices re-entry is welcomed by huge volumes and fall . MACD has dropped below last lows (yellow line) and blood bath was/is likely.
SS
I went SHORT yesterday , remember.
Lets dig why , and why the header is Classic Charts.
My positions were in line with Long Term Falling Channel as prices have re-entered into it , giving us super trading opportunities for enormous fall .
But wait , today looking for my exit plan of the position , I figure out one newer channel in which prices is rising is also into play. Its a STRONG Channel . As strong as longer one but its just its a newer channel.
Older the channel (more touch points) , Stronger it is.
Clubbing it with MACD in different time frames ,the newer channel falls weak here as well.
The submerge of 2 channels and prices exactly ticking (380-390) ,on the verge of breakdown at longer channel perspective and bounce from newer channel reference , taking decisions is a challenge to traders.
It will be a NEW LEARNING at least for me , now how prices will react. Which channel will be respected .
TISCO channel validity ,daily , weekly charts ( biased for longer term channel as mentioned above)
.png)
I am already into a position and can't hide under the bush of new learning , making my trading into Gambling.
Money Management will make me sail through these tough times.
I am into 400PE. I will be cutting all positions early today.
I will be taking 1 lot , just 1 lot 360PE ( as I feel if longer channel is respected , fall will be severe).
Tomorrow , it has results. Charts are too challenging for me too keep any aggressive positions.
1 lot money should be in the ring as going with rule , stronger channel , larger respect.
HINDALCO :
Another script from the same sector .
The charts here are also not a cake walk.
This turmoil depicts the metal demand equations in turmoil in China . News flows from there impacts fundamentally to particular these stocks giving them wild moves . I have no knowledge what they talk about.
Please comment which channel you think is into play in Daily Charts below.
I am negating RED channel as volume since 2 days have been heavy , which should not have been the case if Red channel is in play. This makes a strong case of Black Channel as, prices re-entry is welcomed by huge volumes and fall . MACD has dropped below last lows (yellow line) and blood bath was/is likely.
SS
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