Trade 6

In one of my practice sessions, I came across this chart. 

At the starting of trade day at 5 minutes, all the buyers buy point was hit at the pivot point. At 20 MA selling started, which move on to cross 50 MA. Some buyers cam at pivot line but the next candle confirmed my sell call. I entered for a sell call. As the green candle wiped the last candle, I took my buy exit.

Again consolidation phase started. 

A solid green candle was formed which was above the pivot point and 200 MA. The volume was strong. I entered for trade with a buy call. When the big candle, clicked I took my profit as it was R1 resistance.

Trade 5

During my historical trade practice session, I found this trade. At 9:20 I look for a massive break with good volume. I have to wait for its conformation.

Step 1: People were waiting on 50 MA and pivot points (horizontal black line) to take the sell trade. 

Step 2: After taking support at the lower end it again rises up to 20MA line. People waiting at 20MA hit the stop loss. 20 MA and 50MA Important point for intraday today noted.

Step 3: Consolidation phase wait for any volcanic eruption.

Step 4: suggests 20 MA important lines.

Step 5: People buy hit with a solid green rise. Most important it was above 20 MA.

Step 6: Confirmation as it hit 50 MA with little increase in volume. I took my entry. It kept on crossing 200 MA and pivot points with good volume and strong solid green candle. People were waiting at 200 MA pivot point to take there buy call. Good volume is proof of that. It also crossed that day high. 

Step 7: I booked my profit as a red strong solid candle crossed the last green candle. I could have waited for 20MA or 200MA.

Mistake 1

I keep on practicing my intraday skills with the old chart. This is one mistake I did and wanted to share with you. First, let me tell you how I took this move. around 11:30 I started noticing Lilliput candle. I was expecting one volcanic eruption. At 12:05 long candle came, I become alert, a bull move started. A small retracement up to 50MA chart. I waited till it again started the bull move. At the entry point, the bull move was confirmed as it crossed the last high. but after two candles it started to go down. As the first red candle wiped the last green candle and my entry point opening I booked my loss. I could have waited till my entry candle is wiped but I realized my mistake early. Can you guess?

Trade 4

I have been tracking ITC for quite some time. It was following a higher bottom and higher top for 3-4 days & low volume consolidation was there. As we know small candles give volcanic eruption.

Trade 3

While searching a 1-day candlestick graph, I came across this spinning top candlestick with good volume. The closing is above the last day closing. So I am expecting bull and bears fight to close the market above the previous day closing. So the bull run will continue. The next day I am planing for intraday long.

Tip 1

The giant red candle after a big fall signifies the final sell-off. Go long the next day early in the morning. Use for intraday trading.

Trade 2.

20 June 2020.

Image source: Economics Times, day candlestick pattern of Apollo Micro Systems Ltd.

The trade is supported by 20 DMA. 

Good volume breakout.

Lilliput candles supporting this trade.

High top, high bottom formation can be seen.

Wait and watch.