How to read a stock chart pattern Chart Reading Technique
How to read a stock chart pattern? Perhaps you have already read the Chart Reading Technique strategy or for some readers, this may be a new idea.
First of all, there is no such thing as a “best stock trading strategy for day trading on the intraday”.
Each day the feature will be different so it is very difficult to adopt a common method.
But the chart patterns kept repeating it through a stock. So you need to know about charting patterns, you can trade in any stock on any trading day through this method
Currently, the best method is Chart Reading Technique which will help you to identify successful chart patterns for trading. This is commonly known as candle chart reading.
How to read a stock chart pattern?
This can be seen through the image given.
What we need to do here is to understand the breaking candle.
Do not take entry if it is less than 50% in breaking brake.
Only take stock entry if it is above 50%. Remember, if the breaking candle is 60%, our chances of success are 60%.
Chart Reading Technique is one of the simplest and best trade entry techniques for intraday trading.
Check the break-out of the candlestick and buy a stock entry for trade if the break-out candle is bullish or if the break-out candle is bearish, sell the stock for trade.
Remember never to take an entry below 50% i.e. your entry candlestick should be more than 50% of the minimum reference candle.
The most effective method is to do entry-exit mock tests several times and then go into real trading and practice trading with the help of technical analysis instead of trading without any criteria.
Choose the stocks with the most volume in which you can succeed by using the Chart Reading Technique. Consider trading only 3 or 4 stocks a day.