COMPARING MY FRIDAYS STATEMENTS WITH REAL PRICE MOVE IN BNF TODAY.
1. In my point 4 ,I clearly mentioned "If red dotted line is crossed upside then zone two will be target." You can see bnf opened gap up and in first hour it achieved my quoted target. In point No5. I mentioned " structure is direction less depends upon next trading session opening . Extension in trend convert many traders into hope trade." Why I wrote this I know three cases where shorts converted into hope trades. One my personal know. Second one of my followers who shorted around 18400 and did not clear when bnf opened gap up though at 7.30 am I updated this is going to happen. Third my case As market closed At structural switching point. So I also carried my short positions. But there is difference in trading style of first two cases and my case. As soon as market opened I waited for first 5 min to see price action. When I found 5 min candle taken support above zone 1 solid red line. I immediately booked loss in that position accepting trap by bulls. At same time I traded in option to long side. And booked my position slightly above zone 2 upper end. I could do this because When i provide levels they work either support or resistance. Now you see I minimized my loss by square off my future long positions. On other side that loss is covered by options trading position. Other two cases are still in loss. To give my example is to show you that accept your position in loss. when circumstances are opp. This is how an experienced trader manage his trades. Trapping is part of price movement you can not escape from this whether how much you are learner ed . Basic victory is how you apply your brain to manage your loss. 2. Now see my first update at 7.30 am where I mentioned "And see price action zone first and second where this extension is expected to finish.so basically long positional can not be open .only intraday can be opened. if risk reward is suitable. otherwise positional short will be good strategy only when this extension gets over .". Can you see in this statement I was aware where this extension is going to get over. AT 7.30 I manifested the next move of bnf and same updated to all my followers. I myself acted accordingly. and mitigated my trap loss. If i wanted then i could have easily converted my trade into hope trade like other two example. But I know the result of this foolishness. Now you can see zone 2 upper banned was not taken out in 15 min and 1 hrs time frame. That is my condition for taken out any zone or support resistance. Those who are old followers know this condition of trading in my trading style. I Have been mentioned several times in posts, attaching My condition detail post on 14 may when I shared it in detail. You can see price made only First Hr candle out side my zone 2 but could not take it out in next three hours of trading . Later bnf fell down from high. I showed you how trading is done with crystal clear way with proof of advice given to one of my followers who is stuck with shorts In Friday comment box. I always talk with proof never flaunt . What is truth that i share with you so that you all can understand how trading is done. One of the troll ers who said in my comment box on Friday that he himself has spend 20 years in this field. Sir , I spend only 14 years and wrote in my post that bnf is directionless though I was bearish and took my positional shorts. As you told you have planed everything for short trade but bnf did not give you chance to go short rather trapped. You had no plan for long side because you did not plan both sides . As you mentioned in your comment , if price go long then you will see. But I Manifested everything on Friday and mitigate my loss from 1hr trade in long side. Though I have only 14 years of experience as compared you. 3. In 2pm update I mentioned "for now the trend which i was expecting to change on Friday structural point is changed to down. pl clear all your long." See at right time I informed you all. Result is awaited tomorrow.
Trade plan For next sessionon.
1. In fig. You see zone 3. At upper end I made green circle If any case by gap up opening or while trading this is even breached then it will be confirmation of trend changed to upside only sell on rise. A small doji is seen in circle that shows that bulls have exhausted that is why next candle is selling one. That is power of candle stick which provides quick change of sentiments else you know the psychology behind it in right prospect. Always find candle stick pattern at zones ,support and resistance when I provide . Because my zones and support resistance work magically. You all have been witnessing it for quite sometimes in all my posts. 2. On the contrary If zone 3 is intact then good chances to move down and confirmation will be seen when zone 1 is even breached to down side. 3. As per today move this was final trap by bulls. But bears let them do this because they want ed to get good price for shorting .So now bulls will be ultimately trapped when all conditions I shared gets fulfilled. 4.My first target is zone 1 lower end. Rest market will decide. YOGESH VATS
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Hi followers, This point of time bnf standing on critical point if today's high is broken then 20500 on other side if low is broken then fall.
@yvatsji Basis the strong price action and your structures, and the open gaps, I have taken 1lot of NF and BN as positional, looking at the strong closing. I may be wrong to do so, that you can guide, but basis what i learned from you, and also seeing your structures, I observed that BN had a resistance at 20560 as well which it crossed well above and the day was a quiet and a slow one in terms of taking the price up, kept makinh higher highs and higher lows into resistance with consolidatiion and breakouts and they have happened strongly at the levels you mentioned. Thanking you for all your guidance. Also just to trap the bears there were many spikes, bearish patterns, but with the help of your structures and the levels as support I looked for buying opportunites after it broke 20500. Also during the day i DID try to short, but lost some ground. then i decided to sit out and wait for the levels to come. and they did. I should have actually gone long on the 3rd candle with 2nd candle low as sl. but was a bit indecisive. so i deferred the trade. I also did look to short at 20500. But i checked for the patterns and realised a breakout was due. So I held on. and finally when the price broke out and stayed there, with no fake breakout. I managed to use 20500 as sl and do an intraday trade. and took 1 lot of bn and nf for postional. Thank you for your heartfelt analysis and guiding us.
To @vaibhava135@wadhwaamit4@arvind6261@xh4rpreet@thanmaibk I am sure you all are also well versed or may be learning. only thing is let the trade come to you. it will only improve your risk reward. Dont feel that it is important to trade eveyday. Don't feel the complusion to trade and make money. Keep the burden and pressure of earning away from your trade. Think of it as a mathematical problem and thnk of solving it. You get the answer right, you feel good. Entering a trade is like solving a mathematical problem. you need to know your formula and your concepts. i TOH EVEN TALK TO MYSELF AND ASK WHY DO I WANT TO TAKE THE TRADE WHEN I FEEL THAT I AM NOT OBEYING THE LEVELS AND ASK YOURSELF WHY DO YOU WANT TO ENTER THE TRADE? HAVE YOU UNDERSTOOD THE STRUCTURE THAT SIR HAS SHARED. WRITE NOTES, WHAT LEVELS TO ENTER, WHAT TO USE AS SL. WHEN TO GO LONG, SHORT. And if you havent understood that accept it and stay away. read the points again and you will be saved from doom and pain of losing money.
IF YOU HAVE THIS IN YOUR TRADE JOURNAL OR NOTEBOOK. 60% OF YOUR WORK IS DONE. REST 10% PATIENCE, 20% PSYCHOLOGY AND 10% TECHNICAL KNOWLEDGE. SO ACTUALLY @yvatsji SIR IS HELPING US MAJORLY.
arvind6261
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@minibufett, THANKS FOR INSPIRING US, I WAS BULLISH SINCE 1ST CANDLE AS WHAT SIR EXPLAINED IN POST, AS PER STRUCTURE PRICE MAY GO DOWN AND HE WAS BEARISH, BY MAKING ZONE 1,2 AND 3 ZONE 4 I PLOTTED IN MY CHART FOR 20525 TARGET AND HAPPENED EXACTLY SAME. I WAS NEUTRAL TO PLAY EACH SIDE. STILL HAVE NO POSITION WILL BE NEUTRAL FOR TOMORROW ALSO. AS I AM IN LEARNING PHASE AND DONT WANT TO LOOSE MY CAPITAL.
vaibhava135
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@minibufett, i closed the short as soon as it bnf crossed day's high and booked loss. but went long around 20300, I closed it with 110 points gin, but regret that I could not extract the full potential. This happns lot of times, I enter at good price but exit early and fail to catch potential of trade. any suggestions? Same thing happened when BNF went from 17800-19800 the other day.
yvatsji
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@vaibhava135, That question I have already answered read post carefully.
@minibufett, Good reading of market lessons. Keep learning and helping others. To take long as carry forward is good decision. In fact I did not carry any positions either side. I strongly feel price is near to complete its structure in all indices of world. Main dow. It also went into great extensions same with bnf and nifty. All will follow down move structures soon.
yvatsji
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Hi followers,
This time bnf is standing on critical situation where on breaching today's high can go to 20500.on the other side it breached today low can see fall. So act accordingly. Perhaps some problem in updating idea so writing in box.
vaibhava135
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@yvatsji, sir, thans for direction, by gods grace and your guidance, I feel I am learning something here.
arvind6261
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nice sir, you informed everyone through your post and the fact was even BNF opens marginal high red dotted line will breach and advised to cover your shorts and look for another setup. i did the same i covered one of my position with 520 points loss. waited till 4th candle formation and again enter short and book for 200 pt profit. still have 320 point loss, but happy to trade according to plan.
yvatsji
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@arvind6261, that is part of trapping. We can not judge it. Every time.
To @vaibhava135 @wadhwaamit4 @arvind6261 @xh4rpreet @thanmaibk I am sure you all are also well versed or may be learning. only thing is let the trade come to you. it will only improve your risk reward. Dont feel that it is important to trade eveyday. Don't feel the complusion to trade and make money. Keep the burden and pressure of earning away from your trade. Think of it as a mathematical problem and thnk of solving it. You get the answer right, you feel good. Entering a trade is like solving a mathematical problem. you need to know your formula and your concepts. i TOH EVEN TALK TO MYSELF AND ASK WHY DO I WANT TO TAKE THE TRADE WHEN I FEEL THAT I AM NOT OBEYING THE LEVELS AND ASK YOURSELF WHY DO YOU WANT TO ENTER THE TRADE? HAVE YOU UNDERSTOOD THE STRUCTURE THAT SIR HAS SHARED. WRITE NOTES, WHAT LEVELS TO ENTER, WHAT TO USE AS SL. WHEN TO GO LONG, SHORT. And if you havent understood that accept it and stay away. read the points again and you will be saved from doom and pain of losing money.
IF YOU HAVE THIS IN YOUR TRADE JOURNAL OR NOTEBOOK. 60% OF YOUR WORK IS DONE. REST 10% PATIENCE, 20% PSYCHOLOGY AND 10% TECHNICAL KNOWLEDGE. SO ACTUALLY @yvatsji SIR IS HELPING US MAJORLY.