The Power of Arcs as Support Lines on POLICYBZRIntroduction:
Arcs are a powerful tool in technical analysis, allowing traders to identify support and resistance levels with greater accuracy. When used correctly, they can help traders anticipate future price movements and make informed investment decisions.
What are Arcs?
An arc is a curved line drawn on a chart that connects two points of equal distance from a central point. It is often used to represent the intersection of two parallel lines or channels, and can also serve as a support or resistance level. By analyzing the shape and position of an arc, traders can gain valuable insights into market dynamics and predict future price movements.
Why Use Arcs as Support Lines?
There are several reasons why arcs are effective as support lines on TradingView:
Accuracy: Arcs are highly accurate, as they are based on mathematical calculations that account for various factors such as supply and demand imbalances, volatility, and other market conditions.
Flexibility: Arcs can be adjusted to fit different time frames and asset classes, making them a versatile tool for traders who want to tailor their strategies to specific market conditions.
Visual Representation: Arcs offer a clear and intuitive representation of support and resistance levels, making it easier for traders to quickly identify potential areas of support and resistance.
Adaptability: As market conditions change, arcs can adapt and evolve, ensuring that traders stay ahead of the curve and remain profitable.
POLICYBZR trade ideas
Policy Bazar - updateThe scrip has completed a time correction - Flat structure in EW terms.
Why we say that - because the momentum indicator has given buy signal again after completing the cycle.
Our expectation is a next move up. Recent low of 442 becomes critical point in this expected move.
Lets see how this develops
Earlier post linked here
First 5 wave upmoveThe scrip has given its first 5 wave up-move since listing fuelling hope of a trend reversal.
Whether long term trend has reversed or not is yet to be seen.
However, for us the play on long side exists till it holds 356....although a dip to 410-428 is not ruled out in short term
Lets see how this develops...
POLICYBZR PB Infotech best buying levelNSE:POLICYBZR Policy Bazaar is now trade at best buying level. We can expect a pull back from current levels.
As per my analysis, best entry level is 385-380, Can hold till target of 425 & 456.
Stop loss will be only 365.
Note: This is my personal analysis, only for learning.
Thanks.