Welcome To My World, Charts with Only Price N Volume.
What do Charles Dow and Jesse Livermore have in common? They used price and volume to anticipate where the market was heading next,
-Anna Coulling.
Note: Only go ahead if you are passionate about learning price and volume.
"The Simple and Most Powerful Strategy"
"The Power Of 3"
“3 Rising Candles With 3 Rising Volume Bar At Break Out Level.”
It was an eye opener event for me, Mitesh bhai's workshop in Aug 2019, Specially for someone like me who was always fascinated by all sorts of Indicators.
I was in awe of both , how they were explaining charts without any indicators, only Price n Volume, That's It and Mitesh Bhai was explaining logic behind every trade as if chart is talking to him and rest is we all know how the genius pick his winners at ease.
All the time I heard Mitesh bhai saying like "let it trade above rejection candles with volume" or Hitesh Bhai saying like "It's complete Marubozu" or closing with 3 White soldiers or watch out "3 black crows are here", hedge your positions, This terminologies were quite common.
And the most important and astonishing part is they never keep price target,If it is breaks out or breaks down with volume, prices can go anywhere, always use trailing SL which was damn tough and that's what motivated me to see the charts their way and results were mind boggling.
So I need to unlearned a lot in order to learn price action ,Entire 2020 I had started observing charts with mostly price n volume and tried to figure it out why Hitesh bhai and Mitesh bhai picked this trade and what was chart setup , Mitesh bhai always gives emphasis on volume.
What I had observed that there were occasional volume spurt with random price action of 5% to 10%, but Stocks did not have follow up, However, when It comes with combination of 3 rising candle and 3 rising Volume bar at break out level instruments have decent trend going forward.
Now one can argue what's new in this ?? 3 day up 5 day up is quite common .. but what's uncommon is price combination with volume , near break out level , conquering those rejection candle levels , breaking out with 3rd Candle Identically the bigger one with the highest volume.
Whether you are breakout trader,swing trader,short term investor,day trader and Trading any given instruments , stocks , indexes , commodities , currencies ,cryptos , as long as there is price and there is volume this will work be it any time frame daily, weekly ,hourly, 5 min.
Oh common,It's bull run, you will find analyst at every corner of the street, let the market fall you will be no where seen, Then Please I have seen 2020 very closely and this patterns works even better in a bear market with 3 down bar N 3 rising volume .
Wait,If it is so profitable then why you are even disclosing it, Well then you must see what Richard Dennis had said,
Finding a Trade is just 10% work,rest 90% is courage to execute your trading plans,discipline to follow money management,as a trader one needs this skills too.
You can't build wealth on borrowed conviction, I am posting here bcoz I am feeling empowered after following Mitesh bhai and Hitesh bhai, this are lifelong learning's it can't be taken away.
I have found my edge in finding breakouts in mid cap stocks,any one can have their own.
“Here's The System To Find Break outs",
"The Power Of "3"
1. Stock should be closing with higher highs for 3 consecutive days.
2. Along with the price, the volume must be rising.
3. Watch out for those rejection candles.
4. Entry can be made during closing hours or next day.
5. If 3rd Candlestick pattern is closing with Marubozu or long bullish pin bar candle that will be Icing on the cake.
6. SL- Will be the low of first candle,that's the risk should be keep in mind.
7.Risk should be 1% of your capital in one trade so Money Management skills must.
8. Exit- What Exit? I have seen insane moves,It depends how blessed you are and how much you can take it from Mr. Market,
As Hitesh bhai said in his spaces,
"Upar sirf hawa hein jane ko kahin bhi ja sakta hein"
Bottom line is do not set target or else exit will be too soon.
Enough of theories,let me show what I did in 2021 you will find charts mostly with this patterns on my timeline,
I may have bought,exited too early,stopped out,still holding or buy again based on this patterns,
All Learning's,Do read my writings on chart specially for the Tata's.
Let me start with the latest one and I have to start with Hitesh bhai's favourite "Anupam Rasayan",
Hitesh bhai saw it early as he can but I had waited for pattern to confirm.
I found two more Identical"Balarmpur and TechM" though I have not posted charts for his two earlier.
This Datamatics taught me how to keep right SL, you can't have SL based on your expectation but to keep as per the system which is low of the first candle and see " Dolat " similar thing stopped out and have to re enter and see I am talking about this patterns since March 2021.
Let's see Kopran when overall market was breaking down in late 2021 and this was showing classic 3*3 pattern at the top so I had to go for it.
Dr. Lal path one of my special one of 2021 , classic one swing trade though I missed major move but lucky to be part final move to 3500.
Gravita -Again why my conviction got stronger n stronger on this patterns as market was breaking down in Dec 2021 but this stocks does show some kind of pull back but held on the levels and long reversal was very sharp.
Jyoti Res- this one had classic flat pattern and break out.
Gulshan Poly - Classic break out and re test , here one can learn about how rejection candles provides support once those level conquered .
Guj Alkali- See those volume bars do we need any other validation, massive one isn't it? again saying loud n clear do not miss 3*3 pattern.
The "Tata's" - Year 2021 belongs to them, fabulous moves in most of the group companies , With those rise in price many must have seen their rise too... Truly Wealth Generator of 2021.
Finally, My sole objective to write this is to show, how simple yet powerful things can be in the Market, All Thanks Mitesh bhai N Hitesh bhai for my learning's and success.
Thank You,
Here's the scanner, "Nothing More Nothing Less"
https://t.co/siKvflQvvF Thanks For Reading.
