EASY TRIP PLANNERS LTD stock forum
EASEMYTRIP Anti-bat pattern of Easemytrip achieved all downside targets.
EASEMYTRIP - This Post is not specific to EaseMyTrip - but a Generic Guidance for Price Action Breakout StrategyPrice Action Breakout Strategy:
1) Choosing the stock:
Find stocks that have built strong support or resistance levels and watch them
2) Draw Support & Resistances: Always draw Support and Resistance from Highest Timeframes (3 Months -> Month -> Week -> Day). Stronger Support & Resistance means better Results
3) Wait for the Breakout:
Irrespective of Strong Fundamentals & Good Scrip - Wait patiently for the stock price to make its move and let is Breakout of Resistance with Good Volume. For positional Trades – look for BO confirmation minimum on Weekly scale
4) Targets:
When taking any Trade, please be clear on Targets. Don’t take trade blindly assuming it will go up. Define Targets using Price Action / Swing Patterns like Rounding Bottom, Cup & Handle, Head & Shoulders, Double Top/Bottom, Triangle, Wedge patterns etc…Also, use Trend Based Fibonacci Extension tool for Additional Confirmation of Targets. Wait patiently for the Targets to be reached. Breakout on higher timeframes like Monthly will provide Stronger confirmation and Longer Targets. Just need conviction to hold it for longer time period
5) The Unspoken Truth & Mystery behind Stop-Loss Hunting:
*** The Most Important Point *** Many Training Academies & Experts say it is Most Critical to have SL, but where ? How much % ? In Equity Delivery Trading (Not F&O / Not Intraday) – when you have done thorough analysis of stock and sector, more than SL, patience is key. Understand the Unspoken Truth – In Trading, Money is not grown organically – the Loss of one person gets to another one as Profit.
If Everyone knows a scrip will bounce from a Strong Support – then how will Big Players make money ? By Cheating us, By Faking a Breakdown Scenario, By Stretching beyond our SLs. Although no one knows where we have placed our SLs, Big players know for the fact that a Retail trader won’t have their SLs beyond 10-15%. That’s the normal capacity. So, they try to shatter your patience, break your SL by a Fake Breakdown just beyond an average Retail player. Once our SLs have been hit, then they will pump in money aggressively to take the price Higher. This will hit the SLs of other set of Retail players who may have Shorted the scrip Intraday / F&O when the support was broken.
Voila – the Big Players now have hit SLs of Retail players on both sides and will take the price much higher. On a Chart – this will appear as “Wick” on higher timeframe. A proper Breakdown of Support on Daily timeframe will appear as Wick on Weekly and weekly breakdown appears as Wick on Monthly.
6) Pattern Negation:
A pattern (Rounding Bottom, Inverted H&S, Cup & Handle etc…) is Deemed as Negated when the price re-enters below the BO zone. But watch carefully on higher timeframe to ensure it is not a Fake Negation. Atleast we need to have patience to confirm negation of Pattern on Weekly Close. Even if it gets negated on Weekly – do not exit the trade on SL. Understand where the next major support is. Only if it is far down below – take a calculated decision to exit the trade on SL. Else hold patiently for the price to take support from the next Demand zone and bounce back. 9 out of 10 times (unless the sector itself is in negative sentiment) the price will bounce back / goes sideways accumulating power from the Demand zone.
7) Use your Sixth Sense:
The 7th Strategy is to Use the 6th Sense – Avoid Emotion – Review Price action closely on Weekly / Monthly and be Patient for the scrip to do its job.
EASEMYTRIP buy 120q at 40.30
EASEMYTRIP buying 1800qty 42.3