Trend day scan - Chartink

Scan Link- https://chartink.com/screener/atr-1-and-21-2

Trading Index / stocks post trend day

◦Post a trend day, natural flow of the market is to continue and give follow up of the trend.

◦Many a times, it is difficult to catch a trade on a trend day as entries are with biggers SL’s

◦It is easier to trade such stocks next day

◦There are various scenarios of price movement post trend day. All explained in next graphic.

Details about false trend day

◦This is a mean reverting intraday trading set up

◦For an opportunity to short an identified-on stocks where

◦Previous day was “Up trend” day but did not hit new day high post 2:00 pm

◦Shorting opportunity is seen post a previous day high is achieved and there are negative candle formation at DH

◦Like R/s / high vol candle or pin bars.

◦Entry is taken based on the Risk Reward of the negative set up at DH with VWAP at 1st tgt and pullback low as second tgt

◦This is set up only for sell trades and does not work in buy mean reversion trades