@milanpatel
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Milanrp started the topic ONGC- BULLISH ABOVE: 293.01 / SL:267.30 / TARGET:318.91 in the forum Dow Theory – Old but a Golden Concept 7 years, 5 months ago
Trade plan: Symbol: ONGC / Direction: Long / Entry: Above 293.01 / SL 267.30 / Target 318.91
ONGC is showing a bullish trend. The volume is higher than average while crossing the neckline
Create long position if the price goes above 293.01
SL: 267.30
TARGET:318.91
RISK/REWARD RATIO: 1.01
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Milanrp replied to the topic What is the logic behind golden Mean – Fibonacci Series? in the forum Technical Indicators to understand market trend 7 years, 5 months ago
Golden ratio is observed in a lot of instances naturally. So this ratio is applied to the stock market believing that it also follows the same ratio.
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Milanrp replied to the topic How do we use Fibonacci retracement to identify support and resistance zone? in the forum Technical Indicators to understand market trend 7 years, 5 months ago
FIbonacci retracement can be done by selecting the recent major high and low on the chart. After this is done a set of line appear with the marking 0%, 38.2%, 50%,61.8% and 100%. The new support or the resistance zone can be expected to be around these line.
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Milanrp replied to the topic What is called technical indicators? How it is different from other analysis? in the forum Technical Indicators to understand market trend 7 years, 5 months ago
The technical indicator supplement the price volume analysis of the trader.
They are a preset algorithms that can predict the price movement.
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Milanrp replied to the topic What is RSI? How to identify the buying zone? in the forum Technical Indicators to understand market trend 7 years, 5 months ago
RSI- Relative strength index.
When the price moves above 30 line then buy.
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Milanrp replied to the topic What is Moving Average? in the forum Technical Indicators to understand market trend 7 years, 5 months ago
Moving average is a trending zone technical indicator.
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Milanrp replied to the topic What is called as GAP in technical analysis? in the forum GAP Analysis and its interpretations 7 years, 5 months ago
The gap is nothing but the differences in the closing of the previous day and the opening of the present day.
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Milanrp replied to the topic How to name a GAP? What are Four Types of GAP? in the forum GAP Analysis and its interpretations 7 years, 5 months ago
The following steps are followed in naming the gap:
1. Identify the gaps in the chart
2. Identify the trending and the non trending zone in the chart.
3. The gap in the non-trending zone are the area gap.
4. The gaps in the trending zone can either be a breakout gap, run away gap or exhaustion gap.
Breakout gap occurs with a high…[Read more]
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Milanrp replied to the topic What do we interpret using GAP ANALYSIS? in the forum GAP Analysis and its interpretations 7 years, 5 months ago
Gap analysis helps us the gauge the strength of the movement.
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Milanrp replied to the topic What are the characteristics of four phases (Consolidation, Breakout, Runaway and Exhaustion) of trend? in the forum GAP Analysis and its interpretations 7 years, 5 months ago
Consolidation or area gap: This occurs between the resistance and the support zone. This gap is expected to be filled in the near term.
Break out gap: Gap occurring in the trending zone is termed as the breakout gap. The volume during the break out gap must be high.
Runaway gap: If a gap occurs after the break out gap then it is termed as a…[Read more]
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Milanrp replied to the topic What are HAMMER / hanging man? Why it is very popular when to buy and Sell? in the forum The Simple Candlestick Analysis 7 years, 5 months ago
Hammer/ Hanging man are used to identify bullish and bearish trend respectively
If the candle has the form of a hammer i.e it has small body, smaller upper tail and longer lower tail and it is green in color and it occurs after a downwards trend then it is the sign of trend reversal.
The opposite is true for hanging man
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Milanrp replied to the topic What is Candle stick analysis? Its evaluation and it real time application? in the forum The Simple Candlestick Analysis 7 years, 5 months ago
Candle stick analysis is the oldest form of technical analysis. It provides more data in a very concise form. opening price, closing price, Highest price and lowest price are the data that a candle stick represents.
It is very useful to identify trend reversals. It is mainly useful for weekly traders.
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Milanrp replied to the topic What is morning and evening STAR? When to buy and Sell? in the forum The Simple Candlestick Analysis 7 years, 5 months ago
If a DOJI pattern occurs after a recent down trend then it is termed as morning star.
If a DOJI pattern occurs after a recent uptrend then it is called a evening star.
Buy above the present days highest point.
Sell at approx. 1.5 to 2 time the amount of risk taken.
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Milanrp replied to the topic What is DOJI? How to make use of DOJI? in the forum The Simple Candlestick Analysis 7 years, 5 months ago
DOJI is a rare buy powerful candle sticks pattern.
DOJI is neutral in Japanese (Opening and closing price are almost equal)
DOJI shows a strong sign of trend reversal if observed with high volume
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Milanrp replied to the topic In Bearish Piercing pattern which tail should not be too big (Upper or lower) in the forum Stock market questions and answers 7 years, 5 months ago
In the bearish piercing pattern the lower tail must not be too long. If the tail is long then that indicates that the buyers are stronger
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Milanrp replied to the topic Who should use candle stick analysis? What is the role of volume in candlestick analysis? in the forum The Simple Candlestick Analysis 7 years, 5 months ago
A weekly trader benefits the most from candle stick analysis.
Trading volume does not play a very important role in candle sticks analysis. It is important in some of the pattern in candle sticks
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Milanrp replied to the topic What is the general forecasting duration using candlestick analysis? in the forum The Simple Candlestick Analysis 7 years, 5 months ago
The candle sticks analysis is only useful after a trading day is over. Forecasting period must be more than a day. It is ideal for weekly analysis
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Milanrp replied to the topic What is Engulfing pattern? What are its conditions to qualify? When to buy and Sell? in the forum The Simple Candlestick Analysis 7 years, 5 months ago
The pattern is called engulfing pattern if the today’s body covers the previous day body completely. It is a bullish engulfing if there was a recent price drop and a bearish engulfing if there was a recent price rise.
Conditions:
There must be a recent price fall for bullish engulfing and recent upward price trend in case of bearish…[Read more]
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Milanrp replied to the topic What is piercing pattern? What are its conditions to qualify? When to buy and Sell? in the forum The Simple Candlestick Analysis 7 years, 5 months ago
The piercing pattern is the one in which the candle engulfs the previous day low and the closing point is above 50% of the previous day candle then it is called a piercing pattern.
The condition to qualify as a piercing pattern are as follows:
The body must cover the previous day low.
Today’s body must cover at-least 50 % of the previous day…[Read more]
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Milanrp replied to the topic What are Price Patterns? in the forum Price Patterns and its characteristics 7 years, 5 months ago
Price pattern are the backbone of technical analysis. They help us in decoding the price movements and helps us identify the trend that is to follow.
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