Has a cup formation and is already in a visited supply zone, Could breakout after this.
Is consolidating, Could breakout towards up because downtrend was broken earlier.
Is in the visited supply zone also broken the trend earlier and is in uptrend currently, Could break out from the current resistence.
Making a cup and ahndle pattern, could breakout towards up anytime soon
Sauser and Handle, potentially very high uptrend but gradually moving. Currently is in weak supply zone.
I ran the scanner for getting hourly trading. These are the parameters. This same scanner can be used for bullish/bearish you need to change the parameters
Currently used Strategies
Previous night I run the scanner and using following principal I select few stocks for trading next day. This is currently used strategy I might change this in future based on the success rate achieved in other strategies.
1. Check how the daily chart is, Does it have proper demand zone
2. Check which location the current price lies.
3. Check if the stock is in high, equilibrium or low position.
4. Check 60 and 15 minutes chart
5. Based on the point number 3 check the trend of the stock and mark the demand, supply zone, entry, stop loss, target
6. Also check for RSI Divergence and whether stock is in overbought or oversold position.
7. Check the support and resistence.
8. Check if any breakout is expected.
9. Check if any of the stock is candidate for swing trading.
10. Isolate atleast 3-4 stocks.