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We analyse Uptrend Price Movement to identify genuine Higher High Higher Low pattern in this chapter "higher high higher low pattern" is a chart pattern that implies upward movement of price. This Higher High Higher Low pattern forms with series of Impulsive and Corrective Move. In an uptrend, there will be an impulsive price wave and then followed by a corrective price movement. This Impulsive move create Higher High price point and Corrective move create Higher Low Price Point.  There are mainly two rule for a genuine uptrend that is Higher High Higher Low Pattern Impulsive Move must be larger than Corrective Wave Corrective wave should not break previous Higher High (Which is support area) Impulsive Move must be larger than Corrective Wave Generally, In a clear upward price pattern or Higher High Higher Low Pattern, Impulsive Move Must be bigger than Corrective Move. if corrective move is larger (or wider) than an impulse move, we can say that the higher h...

In an Uptrend (or Downtrend), retracement will be happened. But At    a point there may be double top indicating the trend change.here are some feature of both to identify the pull back which is a retracement or it is for trend change(Doubletop) Double top only happened on the top of a move. Ie. it happened only after a clear move to up or down. And the point of doubletop will be long in distance for a sideways move or volatility. While the retracement happened in every up move that may happened just above(below) the sideways channel In double top, last resistance will not be broken in up move In retracement, every resistance will be broken in up move In double top, last support may be broken in pull back just for a while indicating trend change In retracement, last support will not be broken indicating healthy trend Double To Usually leads to trend Reversal or Change in Momentum while retracement may not lead to trend reversal In Retracement, Price m...

    In the above chart “A” and “C” price levels are equal “E” is less than “C” and “G” is less than “E” Here the level “A” emerged as Resistance because the “C” failed to break “A”. “D” breaks the b level and price down. So the level “A”,”C” became even more Stronger Resistance area. Here level “D” considered as Weak Support the level “E” closed much lower than ‘A’ and ‘ C. So there is high probability that the price may ’break ‘D’ level. That,s why ‘D’ considered as weak Support. The level ‘E’ also considered as strong Resistance because ‘F’ breaks previous price level and ‘G’ Closed lower than ‘E ‘F’’is weak support because ‘G’ failed to break ‘E’.or Price turned lower than ‘E’. ‘H’ and ’J’ are strong Support area Because ‘J’ failed to break ‘H’ and ‘K’ break ‘I’ and ‘L’ closed much above “H,J” Price level Combine Trendline with Higher High Lower Low Pattern for identifing the clarity of the pattern. In a rangebound market, the above co...

31-5-17 Adani Ports sold @ 338.60 Stoploss @ 343 Trade was a mistake sold  on the basis of higher high lower low. But actually it was not confirmed pattren of higher high lower low. high-Low.At least one Mistake - it was not a clear Higher high Lower Low Pattern Conrrection - Correctly Identify the Higher high Lower Low Pattern Ambuja Cement  - Bought Above Resistance or Previous High Stock bought above resistance that is above previous high and hit stoploss 241.80 level Mistake - Stock was in a sideways movement but only little  upward slope. There should be clear breakout to enter in the trade especially in sideways market. The stock price with little upward slope. More chance to break previous high but it will be failed to go upside.Because the stock is in little upward movement BPCL Bought @742 Sold 744 No Profit No Loss Strategy was to but Higher High Higher Low but failed to go upside in the day. The whole market is in sidew...