COMPARING MY TRADING PLAN OF YESTERDAY WITH REAL MOVE TODAY.
1. Before I stared this blog, I want to discuss some genuine problem which I am facing with new followers. See I published my ideas for all my followers. Sothat you all can be motivated in trading those who want to make career in stock market and earn from this.To make you familiar with this unique skill I share my personal analysis with you all. Stock market is my career that is first for me else is later. In market working hours my total attention is no changing phases of market .When some of followers send their queries in that time I get distrubed. Especially related to when entry and exit. See entry and exit is related to timing , I share complete outlay of movement in fig. Now its your responsibility to read each and every instruction carefully. And act accordingly. I every day try to post before 6 pm sothat you all have sufficient time to study and ask any query regading fig. I am available after market hrs. I can guide you, hard work burning of night oil is your job. Generally people ask silly questions why they have not done their home work properly. When i reply to see chart carefully then they reply yes sir got it. In working hr if trade is stuck with heavy loss then write me with complete entry level and quantity, i will happy to help you. But spoon feeding of entry exit on the spot is not my job. So those followers who are intrested in this sort of psychology , they are not at right place. Maintain social decorum of followers & publisher. Hope those followers can understand my situation. Ask any query after market hrs. Any educational query can leave in market hrs not trade related . That will be answered ater market hrs.
2. Now come to trading plan. In first point of plan i told tou the condition of green dotted line. That is fulfilled by taking out of price after opening flat. Next 45 mins completed taken out factors. so it was clear that trend is in short direction. So question arises of timing. How to time the trade. See after gap up or gap down i do not try to be parrt of trade in any side in first hour. But here situation was diffrent market open flat. But see first 15 min candle it was big volatile. since it covered that much price which was not good in point of risk reward. Plus long tail. One more thing for our taken out condition was not fulfilled in first 15 min we require next 15 min candle to close the low of first 15 min candle. See in 15 min time frame second candle is inside candle which did not close below the low of first candle.This means next !5 min required to confrim taken out condition. Next candle closed here we got confirmation of down direction. But at this satge risk reward ratio got distrubed so can not short as profit to book first level is very near. So this trade is gone. Now i waited for next trade. Around 11.30 I updated that direction is changed to up side and trade in that side. Why i told this see chart carefully second candle of one hr should travel to green solid line. But momentum lost and made new micro support zone with red dotted line.This gave me clue with sgx nity chart in which i told you yesterday it will test red zone lower end. The price of sgx was at that level. Thereore, I updated this change of trend. Next 3rd candle was indecisive confrimed the micro zone as price did not go low.I waited till 5th candle . 4th & 5t trapped bull and bears both side that gave me confimation to go long . Here i took 1 position which i booked at upper micro resistance zone. some guy was asking the target of upper side . Ater some time when he read chart carefully got that red line mentioned in comment box. In Fact my target of upside was green dotted line as it is now resistance once support. But the monnentum was not good so when it touched red box lower band I became clear of upper micro zone. This is how i traded today . All reasons mentioned of entry and exit with comp[lete details. I really want you all learn and earn.
Trading plan For next day.
1. With the structure available i feel chances o gap down open because all factors to take price down are now complete . May possible to trap bulls so can give you gap up open that should fizzle out instantly . If gap up is above white trend line then chances of trend change to up if white trend line acts as support. 2. If market go down then blue line would be my traget to book shorts. Here market can make micro zone which i showed you how they are made. 3. Today i am not going tom check this lenthy blog . pl forgive me for any mistake. Rest market will decide.
YOGESH VATS
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Hi followers, As you saw after small gap down open bnf crashed in first hour. This was already informed in in blog with the sentenced" I used structure is completed. " see the result. Now given both target have already achieved. Now see a red support line in fig this will act as support by making it zone. What I feel is that, from here market will be range bound for next few hours there fore no trading any side. In afternoon structure will decide whether trade possibility will imerge or not at which side. So wait and watch a new structure is going to form which will be of pull back.
Excellant analysis sir, i was about take long position 2-2.30pm around the redline (advice from my broker), but thought of checking your post again before taking. ultimatly decided not to take any position as i had already achieved my profit target for the day. Thanks again for your analysis and the timely update.
yvatsji
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@vaibhava135, when a trader earns profit he she should not give back to market .better to see market only for the day.
Barryjayn
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@yvatsji Thank you so much sir for this unbeatable analysis. I feel very grateful to you. Today basis the structure I inititated the trade after waiting for sometime and basis a minor retracement and using the green line as SL. Generally I would do 3 lots but mitigate the risk. But I also remembered you had shared that below 19035 the overall sentiment would turn bearish. With that in mind, Today I have traded with one loy only and monitored the trade and thanks to the book you shared i was constantly looking at the price action and I am gratfeul to you, because of you and your guidance of these structured I am full of confidence in approaching the trade. Thank you once again for all the hard work that you do sir.
@poojamathur77, Sorry for interruption, going by sir's analysis and what sir has taught us so far and as seen in sir's structures, it should act as resistance. if you see the price did reach close to 17778 or the red line many a times but was not able to take it out. and one could have shorted from there with Sl as the red line as taught by sir analgously in another post and would have been able to take 100 points on BN with a very favorable risk reward ratio. I only got the stop loss wrong else there is a shooting star and an evening star and bearish engulging on different smaller time frames supporting the trade initiation. with Sl as 17786~
@yvatsji , OK Sir... this time we didn't get the chance even to initiate the trade... Last time you advised us not to do trade in hurry.. wait for 15 min candle and then decide.....in this way...i was trying today but no worries as oppurtunity will never stop...Thanks for advising...Also, i started reading book advised by you...
yvatsji
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@wadhwaamit4, good keepning i even did not try to ctach falling knife.