yvatsji

WHY I DID NOT PROVIDE SUPPORT IN BNF ON SEP 5 ?

NSE:BANKNIFTY   NIFTY BANK
Hi Traders,
1. On the 5th of Sep 2020, I did not provide any second support why? If you see the fig of that day analysis, I provided only one red color support not second. Old followers know when I manifest the move of the next trading session or week I always mark two support and resistance in my fig. This is the first time when provided only one. If you see the current fig, you will find that price broke it and even satisfied taken out condition but it made zone with a blue color line and moved up. Quoting point no.2 of the trading plan section which shows bearish for the time being not expecting this down all will be completed near this red support. "Now price structure has become negative for time being." Here I was not expecting more fall that is why I started this point with the above-mentioned line. Later in this point, I gave the mentioned taken out condition.

2. See in point no. 1 of the same section what I wrote is quoting for your consideration ". In fig, if you see the yellow trend line showing you the sign of future trend had you interpreted in this way. See support zone providing support but yet trendline is acting as resistance means till the price does not move above this line any long should not be opened. If you use little logic with any of my analyses you can see the direction."
Here Thevsupport zone of last week white and green was acting as support and the yellow trendline was acting as resistance see in down fig setting for matching my statements. Price could not cross the yellow trend line and moved down.
Trading Plan for Next week

1. With the movement of price this week I changed the angle of the yellow trendline that is why it came down. Now If price has to move up then this yellow trendline with pink resistance which is just above the trendline has to be taken out in both time frames of 1 hour & 15 min with the target of the white-green zone. In any case, price does not fulfill the taken-out condition on this zone then it will consolidate here for some time. That range will be green white upper side and pink lower side.

2. In any case, taken out condition gets fulfilled then the orange line will be a target. If the price did not consolidate in the first point given range then it will consolidate between the yellow line upside range and the white-green zone as the lower limit.

3. blue trendline above is taken out in both time frames then the top pink line is the target. One consolidation phase will be seen in any of the two ranges mentioned in fig. So better not to trade it because it will take your earning back.

4. Here again not providing any down second support as not expecting more downside. But any big unexpected news can change the structure if the price goes down from the support of blue and red zone.

5. For new readers taken out condition is mentioned in the attachment. Please read it carefully before entering into a trade.

Yogesh vats

Disclaimer:- Providing this information as an educational purpose only. If you trade on this explanation that is your responsibility, not mine.

Comments

Sir, this week view where you are giving us trap zones. Thank You so much God Bless. However based on what i read from your article your bias is upwards which is also unique in this article.
+1 Reply
yvatsji harryreddy
@harryreddy, 🙂👍
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Trade on 24-09, After yesterday low is taken-out in 1 hour waited for pullback and bought 21800pe at 65 and sold near 160.

Good Day
Master.
Reply
Trade on 23-09, today after seeing bearish belt hold line in 15 MIN chart bought 21000pe at 87 near pullback at 21250 with stop loss of day high and sold near yesterday low at 207.

Good Day
Master.
Reply
Good Evening Sir, Is not the Bullish Harami + Hammer pattern formed in 1 Day Chart today at support area (bottom) on BNF and it could be an end of this fall? Stating this doesn't mean that market may not fall further, however how to confirm if it made this pattern as of now ( for example tomorrow gap up opening or your taken out conditions). Please share feedback Sir.
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@yvatsji Sir, thank you for your consistent guidance and approach towards us to keep us motivated in various ways. today did my 1st successful and cautious intraday trade, and this is possible only because of you. traded BNF Future 24SEP. 15tf. 1st candle of the day, was a long black candle followed with 2 red candles and direction changed bud did not take touch the day top, sets the downward direction then as soon as low of the day breached entered in short side 21130. (Ideally should have entered during pullback) then after a fall exited at 20935 after seeing the green spinning top. Thank you sir.
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yvatsji Rohaningle
@Rohaningle, Good to hear you traded without my help that whats I want from everyone.
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Rohaningle yvatsji
@yvatsji, Sir today is not the same case, many of the traders (along with me) found it difficult to enter today's market, expecting a long so missed all the short side entry opportunities, ends with no trading day. sorry about this. (T&G members group on telegram is also helpful to interact with same-minded peoples)
Reply
yvatsji Rohaningle
@Rohaningle, When I make oulines even provide clues that helps in form of confidence that I know but question is I want to make evry one stand own without my support. That is why I provide some space to realize this fact. I am sure many members will try to stand their own in future.
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