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A Simple Way To Focus On Right Stocks And Find Trading Opportunities

A simple way to focus on right stocks and find trading opportunities

Whether you are a price action, a pattern, an indicator or whatever trader, if you are able to identify strong price levels on your charts, it can greatly improve the quality of your trading.

Instead of taking signals and trades all over the place, the better trades usually happen at key price levels. Those strong areas of interest show that buyers and sellers are concentrating at those levels and they can be the starting or turning points for new price moves and mark new trends as well.

Let’s look at one such Strategy based on Expert Alerts on NeoTrader.

Expert Alert is the mother page for all indicators combined together to provide the focus list at current. This page uses a different combination to determine the strong technicals and stocks are populated so that One is always ready with what is in interest.

Below is one such example, the snapshot is taken directly from the Application “NeoTrader” for TATA Steel.

STEP 1: One can find stocks that are common in different modules to get the best out of the selection and analyze further. The multi-module will actually work as confirming signal over the signal.
STEP 2: Further, One can find the support and resistance levels based on pivot point values. This feature is readily available in NeoTrader under Stock Analyzer page. NeoTrader provides Multi time-frame Analysis for Pivot Points and one can find clusters to map the Support and Resistance Zones.
Examining the table for TATA Steel, One can find a cluster of Pivot Points in multi-timeframe view.
STEP 3: Once the pivot clusters are spotted, One can plot those on the charts to be ready for a trade. When prices do reach these pivot cluster zones, Watch price carefully to look for quick price reaction or rejection. One can Sell when Supports are broken, Buy on Dips, Book profits at Resistance, Short on Resistance, etc.
In the above chart of TATA Steel, The cluster of major support is seem near 506-509 levels. This level was missed with divergence in RSI on lower timeframe charts and today’s positive action with gap up was visible. The intermediate resistance is marked at 524, 536 and 548 while major resistance at 565-567 levels. Thus, this can be taken as a trading opportunity by different market participants. Intraday Traders can look to book profits at the first level of resistance while multiday and positional traders can continue towards the next and major resistance.
Pivot clusters are very valuable Support and Resistance zones that helps to map the Market. And is readily available in NeoTrader.

NeoTrader

The Ultimate Trading and Investing Companion

Developed under the guidance of Dr. C K Narayan, NeoTrader is the Ultimate Application for Trading & Investment Advisory. Market Monitor

  • Stay on top of the market pulse including sector and general market conditions, pullbacks, breakouts, etc. Stay informed.
  • Our platform pin points to pockets of market activity for Intraday Traders to profit from, catering to a variety of trading ideologies.

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  • Our proprietary strategies with machine intelligence generate low-risk high-reward trades for Intra-day, Multi-day & Multi-week horizons.
  • The strategies are aimed to enable all Traders & Investors. Profit from the Markets.
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