Hi Traders, 1. On the 26th of Sep 2020, I wrote only one condition in the trade plan section in my nifty blog. That is quoting for your consideration as proof of price 99% changes its intermediate trend from these arrows. "If the price takes out the red zone in both the frames then the trend will change to the upside. On the contrary, If the blue dotted line is taken out then will see more fall." Here you can see price fulfilled the upside condition of taken out by gap up means earlier intermediate trend which was downside now converted to upside. Check my all posts all intermediate trends change from my arrows. This sort of perfection I share in my blogs to retailers. See the confidence in the previous fig, I put a red arrow just below the price traded in the last session. And price never came back to even test this level. How can I know this arrow is the point where the scene can change This is the level of confidence where I know from which psychological point intermediate trend will change. Earlier When I used to provide a daily view on indexes then I used to provide short tern psychological points from where short-term trend used to change,. The market moves in two trends intermediate trend and short-term trend both cases are perfectly pointed out consistently not some time but every time. With this concrete information of direction If you put little know-how to time, your trade can earn consistently. Many followers are earning and covering their losses, they write time to time for boosting the morale of others.
2. I do not put so much support and resistance to confuse traders because that shows my level of confidence. The more you use to support and resistance means you are less confident of these. In my analysis, you will find two to three support and resistance. The chart will be visible neat and clean and the price movement will respect my levels that have been proving in every post for the last six months. This sort of perfection can only be created by hard work so burn night oil. Setting the previous fig to compare with the current fig. so that you yourself could see the confidence of moves shared. Hoe they are manifested in reality.
Trade Plan for Next week.
1. See I made a pink zone where a hanging man is seen which is not activated yet, I hope soon it will activate by giving closing below the low of this candle. If that happens then the brown dotted line is expected to follow as the trendline. Means price would follow it, can beak but would come bach in the next candle till support of the red dotted line. In case the red dotted line will be taken out in both time frames 15m/1h then the intermediate trend will change to the downside.
2, On the contrary, if the hanging man is not activated then the pink zone will be taken out in both time frames only then initiate longs. This is how the direction will be decided. I hope you may see the gap down open in the next trading session. Stick to my wordings that will create discipline in your trading and would be benefitted.
3. New readers taken out condition is as follows;_ Taken out condition works in the two-time frame combination for daily( 4 hr + 1 day) analysis. Similarly, work for lower time frames is also a two-time frame combination. For intraday trades 1 hr with 15 min. For taken out condition price has to complete in both time frames. Aggressive traders can take that side position in a lower time frame with the stop loss of breached candle low. In both the time frames given line is breached by a candle that candle high is to be breached by the next candle and close should be above the previously breached candle. This is how taken out condition is being implemented.
Yogesh Vats
Disclaimer:- All trading positions should be taken from consulting your financial planner. This study is for educational purposes only.
Hello Everyone, I would request you all to please share our trades either they are profitable/unprofitable, what patterns we see etc. as it will help other trades. Yogesh Sir can not reply in 500+ queries as he is an active trader but still he is trying to reply on our questions and providing Hints and Analysis without any expectations. It feels bad when people do not appreciate our work :(
In past I made a mistake with analysis post by Sir, I asked him what went wrong and Sir gave me a feedback on his next analysis and such feedbacks will help everyone, however for that we should be an active and share our trades.
Jash_k
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Hello Sir,
I have initiated long CE today when Nifty tested the yesterday Hammer 15 Min (14:30) and 5 Min ( 14:45). I loved your hints and recommendations, however our ultimate goal is to learning and self trading so took trade accordingly. Please advise if my trade is correct as per pattern? Also, that would be really helpful if you can advice the upper levels for nifty as I am still struggling with targets.
Jash_k
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@Jash_k, Hello Sir, I started trailing my SL and exited at profit of rs 700.00
yvatsji
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@Jash_k, now search upper target with the help if candlestick.
Jash_k
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@yvatsji, Sir One question, If I am having long position trade then, Do I need to look for previous patterns for resistance where I can book profit ( this is what I am doing as of now) OR any Reversal or weekness pattern in current price action to book the profits?
Jash_k
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Hello Sir, Did not get trade oppurtunity today as SL was beyond my apetite. However, every minute of working market I wanted to do long as per your morning message. Whole day I was fight between my emotions (Long) and disciplin ( SL). And when I got oppurtunity you already mentioned that " clear everything". Finally ended with no trade.
Hello Sir, your analysis is perfect as always. I took a sell position in BN 23300ce @112 much before your message because of bearish divergence observed in RSI. Just that first my SL got hit and only then it came down after your message :) Later I was only watching and didn't trade but 27EMA worked perfectly both in Nifty & BN.
In past I made a mistake with analysis post by Sir, I asked him what went wrong and Sir gave me a feedback on his next analysis and such feedbacks will help everyone, however for that we should be an active and share our trades.