Hi Everyone! I hope you all are fine.
Today I have brought an interesting Price Action case study of Coal India.
Although the chart is self-explanatory, I will mention some key points.
1 . Always watch Support and Resistance—the basics of Price Action.
2. If the price goes too far away from the moving average(in either direction), be cautious, as sooner it will converge towards the Moving Average. (See MG-1 and MG-2 and the CMP currently.)
3. If the trade opens at a Gap, either down or up, sooner or later, the Price will fill the Gap. (Again, be cautious)
4. If you are confident about a Trade, you can enter it even if you are late. (I entered at the point where the Blue line is shown).
The stock is performing Fundamentally well too, but I have skipped that part for now.
I hope you like it. Happy Investing.
This was for Educational Purposes only.
Today I have brought an interesting Price Action case study of Coal India.
Although the chart is self-explanatory, I will mention some key points.
1 . Always watch Support and Resistance—the basics of Price Action.
2. If the price goes too far away from the moving average(in either direction), be cautious, as sooner it will converge towards the Moving Average. (See MG-1 and MG-2 and the CMP currently.)
3. If the trade opens at a Gap, either down or up, sooner or later, the Price will fill the Gap. (Again, be cautious)
4. If you are confident about a Trade, you can enter it even if you are late. (I entered at the point where the Blue line is shown).
The stock is performing Fundamentally well too, but I have skipped that part for now.
I hope you like it. Happy Investing.
This was for Educational Purposes only.