Ninja Intraday Scalping in Bank Nifty (pull back method), 435 points gain. Please do drop your comments if you have any questions on this Ninja Technique.. Thanks
Indicators/tools used for this strategy : Stoch , MACD , RSI and Bollinger bands 20 and 100 length.
Whenever we see confluence in all these tools we take entry with minimal stop loss. Its like when upper BB 20 crosses 100 and tries to reverse back and if we see Stoch , MACD , RSI too reversed from top or from bottom an entry can be taken. Other end of the band will be the target or middle band would be the target basing on the risk reward.
Disclaimer : This analysis is only for educational purpose and not be considered as any trading idea/tip. Please consult your financial advisor before you take any trade and we are no way responsible for your profits/losses. Thank you!
I am using free version of Trading view, Not able to find double Bollinger band indicator in the indicator list. We can use only 3 indicator once , If i apply BB20 and BB100 separately then only one will be left to use ..either Macd or RSI+Stoch . Please tell us the exact name of Double Bollinger Band Indicator
Hi Sir, one query from a learning perspective, as you highlighted there are many instances today where the market took reverse RSI/STOCH/MACD all are supporting the reverse but we did not have the second confirmation. So, can we trade these scenarios, or what do you suggest about these scenarios?
AdhigamaTrading
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@visibleTacos58958, we should not trade if there is no second confirmation. Today I used advanced method of using Nifty as a base where confirmation is there and Bank nifty has no confirmation. Bank Nifty forms part of Nifty, so took trade with an accepted SL in Bank Nifty. If I am wrong, SL will hit this was going in my mind. We have to learn new techniques daily with some experiments :) Key is SL and not every time we may win!
Also I had only once instance per our strategy in Nifty. What I mentioned was many instances with only first confirmation and there is no second confirmation and we will not enter any trade!