yvatsji

IS DOWN MOVE IN BNF A TRAP OR CONTINUATION OF DOWN TREND ?

NSE:BANKNIFTY   NIFTY BANK
Hi Traders,
1. On the 10 the of July 2020, I mentioned in point no.2 of the trading plan section is quoting as proof of my statement compare with today move" The white moving average is taken out in both time frames then the price will move up to the yellow trend line but between yellow resistance and green dotted line will act as resistance where the price can go for consolidation stage."
You can see the market opened gap up and took resistance of the same line and fell down without fulfilling my taken out the condition of white EMA . Why price either open or close reacts on given levels daily without fail a single day in the last three months in every chart is a question to think. I circled in green the exact resistance on the yellow line.

2. I made a white circle at redline see carefully the taken-out condition is not fulfilled in both time frame so one should not initiate short at this stage but one of my followers is interested to read my words as a story. So he initiated shorts because the red line is breached. See his statement. "mrhariA7
3 hours ago
Redline breached! Initiated shorts for further downside..."
I want to ask how much money he made in this trade where the price went into consolidation. I appreciate, he wrote in the comment box at least I could highlight his mistake to give you a lesson so that you people will not do in your trading. One of the matured followers replied to him although the reason was different than what I shared in my all post of condition fulfillment is quoting "SureshKumarPolisetty
3 hours ago
@mrhariA7, I think it will bounce back from here. There is good support to put options OI at 22K levels.

This way if you read my posts then you can not learn this art.

3. If you see in the previous fig that I will set below, you will find a red arrow that I finished at the orange moving average. You can see downfall stalled near this average. This is a sort of perfection I share every day to make your trading easy. But some of you do not understand my word is unable to earn. Until and unless each written word is not matched with the chart you can not understand my view. I have seen many followers write childish questions in the comment box. They themselves put their hard work to understand points but need my hard work to reply to these amateur questions. I would like to answer intelligent and prudent questions that show that one has done good labor to understand these concepts.
So If I do not reply means that the questioner has not done his hard work properly. The question itself speaks the hard work of a person.

Trading Plan of the next session.

1. Blue dotted line is taken out on both 1 hour and 15 min time frame the trend will change to the downside. otherwise Till now I see a deep retracement move of the uptrend.

2. If the gap up opening is near any of my lines upside the see how price behaves in the first 30 mins if taking resistance or no heavy selling pressure then price will move to the upper red dotted line.

3. On the contrary, if price sustains(support) at any shown level then it can be range-bound for some time.

4. If price takes out the yellow line upside in both time frames then the green dotted line is the next target. The yellow line will act as good resistance. If the white trend line is breached and price does not come back in the next 15 min in the same trendline then this down move is over. Price may remain range-bound.

5. For 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 next candle and close should be above the previously breached candle. This is how taken out condition is being implemented.

6. Note that taken out condition is not fulfilled by price in any condition mentioned in the last post. ( only two were given on upper side and lower side.) The rest price will decide.

YOGESH VATS

Disclaimer:- All trading positions should be taken from consulting your financial planner. This study is for educational purposes only.
Comment: In point no 1 of trade plan I forgot to write if "in starting of the sentence, therefore, you all are understanding it with today trade .but I am talking of tomorrow trade. Apply this condition for tomorrow. Inconvenience is regretted .
Comment: If blue trend line is not taken out on both time frames.is correct sentence