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bases. (after cup& handle, after a flat base). And gives us a another entry Point
When I traded this almost 2 & half months back, I gave it a name- One
Plus! Why 1+, because when I first saw it, the first thought that came into
my mind was- it will print exactly similar looking bar in upcoming week,
which it actually did! And this got added to my trading (1/n)
arsenal. Few weeks back while studying, I came to know about its proper name, it is
"Short Stroke". So what exactly a short stroke is. Short stroke is a shorter version of High
Tight Flags, here you have only one week of very tight contraction, instead of minimum 3
weeks (2/n)
needed for HTFs. You need a very strong bar on weekly, most of the time ranging
between 10 to 50%, followed by a very small tight range bar closing at the upper 10%-
15% of the prior bar. The volume holds the key of success here, and you want it to
contract extremely. (3/n)
The second bar can be a green or red bar, it doesn't matter, and either of the bar can
form the HHV of the pattern. The higher high value will be your entry point. This pattern
is not a proper basing, instead it is a follow up entry point or an alternative entry point.
(4/n)
I primarily use it for a quick swing trade, and this is a very strong setup for that. But you
should be quick in booking profits, mostly within a week or two otherwise due to high
volatility the stock may pullback with similar velocity, though as this setup appears in
very (5/n)
strong moves, they often do not see such swings. Well, in Plus One setup I didn't made
any objective rules, instead it was more on visual basis I took these rules from
@IBDinvestors
, so the credit is all theirs! I find their rules exactly similar to what I look for in a +1. END!
Another circuit. Though it looks really good to our eyes, we are rewarded only when the
trade reaches atleast 2R. And it really doesn't matter how it reaches to 2R. A very strong
reversal of previous bearish bar. Stop trailed at breakeven! Now a free trade!
#Manali Petrochems
#shortstrokes I traded.
One of the best! I would have loved if it would have been above 200 EMA. But still will
take it as if there is institutional demand, it will overcome it.
Normally If we have 100% move that quickly, we generally see
profit taking. But in High Tight Flag, these 3weeks have barely
profit taking (It holds up the gain) then off to more buy.
Tight flag showing that those who bought from lows, doesn’t
want to sell their stock.