Read on Twitter
A THREAD:
BEST APPROACH TO USE SUPPORT AND RESISTANT
Please share and retweet if you feel this is valuable
For more reach I teg some people I respect @nikhilgupta_nkg @roshanmi2gmail1 @ArjunB9591 @SANAMBHATIA99 @jigspatel1988 @anilbalaji11 @jitendrajain
(n/n)
BEST APPROACH TO USE SUPPORT AND RESISTANT
Please share and retweet if you feel this is valuable
For more reach I teg some people I respect @nikhilgupta_nkg @roshanmi2gmail1 @ArjunB9591 @SANAMBHATIA99 @jigspatel1988 @anilbalaji11 @jitendrajain
(n/n)
What is Support?
1. Price moves in a series of Peaks and Dips.
2. Reaction lows of the market are called support it is a place where price halts and goes back up.
(1/n)
1. Price moves in a series of Peaks and Dips.
2. Reaction lows of the market are called support it is a place where price halts and goes back up.
(1/n)
What is Resistance?
Resistance is the opposite of Support and is a place where the price goes down from that level.
So there is a lot of support and resistance zone create daily in the market but not everyone is important
(2/n)
Resistance is the opposite of Support and is a place where the price goes down from that level.
So there is a lot of support and resistance zone create daily in the market but not everyone is important
(2/n)
Now the question is how we identify important support and resistance zone for trade
Find out the "V Reversal" point this is the "Diamond point" (i personally use that term because from that point price behave sharp reversal)
(3/n)
Find out the "V Reversal" point this is the "Diamond point" (i personally use that term because from that point price behave sharp reversal)
(3/n)
There is some example for better understanding
This is the bank nifty daily chart form that "diamond point" price reverse like a boom
After a V shape recovery from a level just be ready if price come on that point in a short time period then take entry on that level
(4/n)
This is the bank nifty daily chart form that "diamond point" price reverse like a boom
After a V shape recovery from a level just be ready if price come on that point in a short time period then take entry on that level
(4/n)
This is Itc daily chart
Price reverse from our "Diamond Point"
But we have to wait for the price come at that level in a short period of time
(5/n)
Price reverse from our "Diamond Point"
But we have to wait for the price come at that level in a short period of time
(5/n)
This is Maruti daily chart
We can clearly see after hit our diamond point price reverse like a boom
Use this with risk management and right position sizing it works like a gem
(6/n)
We can clearly see after hit our diamond point price reverse like a boom
Use this with risk management and right position sizing it works like a gem
(6/n)
This is Acc daily timeframe chart
Same as price reverse from our "Diamond point"
this thing works very well in daily and weekly timeframe there is another set of rules for intraday cover that soon
(7/7)
Same as price reverse from our "Diamond point"
this thing works very well in daily and weekly timeframe there is another set of rules for intraday cover that soon
(7/7)
