Best Way to Draw Trendlines & SnR levels | Trade with Purab
Published: 2024-09-22
Status:
Available
|
Analyzed
Published: 2024-09-22
Status:
Available
|
Analyzed
Predictions from this Video
Incorrect: 0
Prediction
Topic
Status
A W pattern (double bottom) signals that the market will run up after coming down in a downtrend.
"if you see a double bottom pattern or a W pattern, then what is going to happen in the market, this is question number two, what happens in the market when a W pattern appears, one to the comment down below, see what happens in the W pattern, the market first comes down in a down trend and as soon as the W pattern is found, the market runs up, as you can see, even after this the market has run upwards in this way"
Pending
For beginners, drawing trend lines and support/resistance using the line chart method is the best way to avoid differences in analysis and potential missed profits.
"for beginners, this is the best way to draw support and resistance lines, trend lines, because they and my In analysis, there may be a difference of 10-10, 20-20 points while drawing trend lines between your analysis and mine and because of that you may miss out on a good profit."
Pending
The next video will cover how to start trading in the market.
"The next video is going to be on how you can start trading in the market, so please stay tuned, you will probably find its link in the description as well if it is already uploaded."
Pending
Chart patterns like W and M patterns can be easily identified in the market using the line chart method for drawing trend lines.
"And I have given their links in the description, so in this way you can identify all the points, if you were on a candlestick chart, then many times it is becoming difficult, see here it is becoming difficult to see, what will happen to some people when If they go to draw a trend line from here, then if some people's trend line starts from here, then for some people it may start from here, some people may consider it, some people may consider it, then what will happen after that, some such trend line will go, some such trend line will go along with it, due to a slight difference in the point of some people, this much trend line will go, now see, your analysis will completely change according to all three trend lines a, b and c, because of this the best and just way, especially for beginners, what they have to do is simply go to the line chart instead of candlestick, and many professional traders use this method, although if you become professional enough, then you do not need to draw lines, it automatically comes to your mind, but now look here, if you see, it has become so easy, you just have to connect this, this, this, this way, okay, so what will you do, yours will be connected directly like this, in this way you will be able to avoid fake points and your trend line will be absolutely perfect, see, now look here again, if we draw a straight line If you do it this way, it will come in the same way, you have to join the points below, so you will directly catch the points below and you can match the points which match you, like this one became one, then this one with that, in this way you can create your trend lines in the best way and see, here you will also see a pattern, whatever points you have to find out, like this, you will see W pattern, M pattern, all these things can be easily identified in the market"
Pending
When a W pattern is identified, the market is predicted to run up after a previous downtrend.
"What happens in the W pattern, the market first comes down in a down trend and as soon as the W pattern is found, the market runs up, as you can see, even after this the market has run upwards in this way"
Pending
The W pattern, also known as a double bottom pattern, indicates that the market is going to run up after its appearance.
"So, whatever points you have to find out, like this, you will see W pattern, M pattern, all these things can be easily identified in the market, so what is in the W pattern, we also call the W pattern a double bottom pattern, okay, what does the double bottom pattern tell us, if you see a double bottom pattern or a W pattern, then what is going to happen in the market, this is question number two, what happens in the market when a W pattern appears, one to the comment down below, see what happens in the W pattern, the market first comes down in a down trend and as soon as the W pattern is found, the market runs up, as you can see, even after this the market has run upwards in this way"
Pending
Using a line chart makes chart pattern identification, such as the W pattern, much easier compared to using 15-minute candlestick charts.
"If you were to look at this same pattern on 15-minute candles, you wouldn't have understood it as easily. Look, this W pattern here, are you able to understand it easily? Even here, the W pattern isn't easily understood, and the difficulty in seeing it goes away. Similarly, if you use a line chart, it becomes a very simple method. With this, no matter what the chart pattern is, everything works out well."
Pending
The speaker offers free courses on chart pattern trading, price action trading, options trading, and intraday trading.
"If you want a full chart pattern trading course, if you want a price action trading course, if you want an options trading course, if you want an intraday trading course, I provide all the courses completely free of cost."
Pending
The next video will cover how complete beginners can start trading in the market.
"And if you are a complete beginner who has just started reading about the markets then the next video is going to be on how you can start trading in the market, so please stay tuned, you will probably find its link in the description as well if it is already uploaded."
Pending