Breakout Trading Stocks:Siemens,IDFC and Bank of Baroda
As a trader who has seen a great deal and been in a lot of markets,
there is nothing disconcerting to me about a price move out of a trading
range that nobody understands.
Tight congestion in which a breakout occurs for reasons that nobody understands are usually good risk/reward trades.
The more a price pattern is observed by speculators, the more prone you are to have false signals. The more a market is the product of non speculative activity, the greater the significance of technical breakouts.
The general rule is: the less observed, the better the trade.
Siemens has given a breakout above 690 and closed comfortably above it.Today we need to see a follow up move with price and volume action.
Tight congestion in which a breakout occurs for reasons that nobody understands are usually good risk/reward trades.
The more a price pattern is observed by speculators, the more prone you are to have false signals. The more a market is the product of non speculative activity, the greater the significance of technical breakouts.
The general rule is: the less observed, the better the trade.
Siemens
Siemens has given a breakout above 690 and closed comfortably above it.Today we need to see a follow up move with price and volume action.
Buy above 701...
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posted by Bramesh at
8:44 AM
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