COMPARING MY YESTERDAY STATEMENTS WITH REAL MOVE TOADY. 1. In previous post point no 1.( Trading plan ) Today's whole trade I depicted in my first sentence quoting for your consideration " zone 4 end will be my sl for for long side trade." If you see more than half day bnf spend long side. Since market opened exactly up of zone 4 upper end ,therefore, that would obviously become stop loss for long side trade . In comment box around 10 am one of my experienced followers wrote all trade of the day. Those followed his trade would have earned good profit. You can see the upper end of zones was sl of the trade. Yesterday I scolded every body for not taking my words seriously today was the result in profit. He took correct trade. That is the sign of genuine seekers of this art. when traders earn profit and write in comment box That gives me immense pleasure . So do write in comment box your failure and success. Both will inspire struggling traders. when I am doing everything selflessly you all should write for others. I wrote one more thing in previous post in same point no.1 "if price takes out upper end of zone 4 then next target i will update in trading session." . See I did not update as I knew today is the reversal day of this long move that i mentioned in nifty post yesterday. You can see last hour candle bears took entry. 2. I made three circles Two pink color are showing exhaustion where one very small doji and then selling. It worked but next candle is shooting star at exact my zone no .4 upper end level . This time price did not come down it came down heavily after 4 candles.This candle also worked by providing early warning that price is near to topple down. This knowledge you will not get in steve nision book That I recommended for learners. This is pure my work of experience sharing with you all free. In lieu of this every follower who make profit should write in comment box. That is his/her moral duty to support my cause to spread this art in pan India. 3. Now see green circle this second trap And first move down blue line to up side is first trap by bulls. I have already mentioned in one of my previous post that sellers want good price to short ,therefore, they let bulls drive this move. And when reached that level where they want to short ,they entered and you saw fall today in last hour. That is how market works. Now bulls will let price to travel at that level where they are interested to buy. So you will see down move in market. This is a cycle which keeps market running in form of greed and fear. Trade plan for next day. 1. The high of today is sl for coming days for positional shorts. All zones will provide support by converting into micro zones as already showed you all in one of my posts. I do not find move swiftly, rather momentum would every time decreases soon. 2. Earlier I used to say bnf has to travel downside more than nifty but structure is changed now both will not travel much down side . Mostly range bound trade you will see in coming days. Follow already made zones on chart and see price action near them that will suggest the trade for coming days. Today taken out condition fulfilled all criteria that is why you saw up side move till last 1 hr of trade. So never ever forget conditions which I share every day to you. Any trader if follow them will be able to earn profit daily. Rest market will decide.
thank you very much sir, 1st point on trading plan what one should understand is momentum is bearish, targets are all zones support and resistance, why this momentum will decrease may we will see in coming days.
yvatsji
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@arvind6261, the momentum might be on slower side because of structures created by price.
akhil313
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@yvatsji, @arvind6261 Thanks for clarifying this point. I was not able to understand why this happens.
Thank you and god bless
gkrambati143
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I found out one peculiar thing I was experimenting bn since few days correlating with few parameters everything was going as per classical knowledge but in the last hour I noticed peculiar thing which was a definitely a trap I felt , macd and bull pattern doesn't coincided but they were opposite as watching it I didn't take any trade felt some fishy may be every1 knows here just wanted to share my experience :)
Goutam5196
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covered 450 points per lot....
yvatsji
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@Goutam5196, good write your trading details how did you take this position with reasons so that others would also learn.
my setup was simple ... i marked the level i waited for first 15 min to see the strength of bulls but it all faded in the next candle.... so it was very clear that if this level breaks there will be a huge momentum ... i trailed my profit on top of every candle and finally market kicked me out with 455 points
yvatsji
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@Goutam5196, Good this is the sign of selfless person caring others fellow traders. Keep posted for others.