Analysis and Prediction
Based on the chart, the BANKNIFTY index is in a bullish trend in 1h. The price is near the Extrem orderblock , after both side liquidity in LTF. This suggests that the bulls are in control, and the index is likely to continue to rise in the short term.
Thought Process
If I were a trader, I would be looking to buy BANKNIFTY after recent swing high at 44,616.10. are taken out and give a change of character in Lower time frame . I would place a stop loss below the recent swing low at 44,559.60 and target a move to 10R
Explanation of SL and Target
SL stands for stop loss. It is an order to sell a security at a specific price to limit your losses. In this case, I would place a stop loss below the recent swing low at 44,559.60. This means that if the price of BANKNIFTY falls below 44,559.60, I would automatically sell my position to limit my losses.
Target is the price at which you plan to sell your security for a profit. In this case, I would target a move to the recent swing high This means that if the price of BANKNIFTY rises I would automatically sell my position to take my profits.
Conclusion
I believe that BANKNIFTY is bullish, and I am looking to buy on a pullback after a CHOCH in LTF . I would place a stop loss below the recent swing low and target a move to the recent swing high .
Based on the chart, the BANKNIFTY index is in a bullish trend in 1h. The price is near the Extrem orderblock , after both side liquidity in LTF. This suggests that the bulls are in control, and the index is likely to continue to rise in the short term.
Thought Process
If I were a trader, I would be looking to buy BANKNIFTY after recent swing high at 44,616.10. are taken out and give a change of character in Lower time frame . I would place a stop loss below the recent swing low at 44,559.60 and target a move to 10R
Explanation of SL and Target
SL stands for stop loss. It is an order to sell a security at a specific price to limit your losses. In this case, I would place a stop loss below the recent swing low at 44,559.60. This means that if the price of BANKNIFTY falls below 44,559.60, I would automatically sell my position to limit my losses.
Target is the price at which you plan to sell your security for a profit. In this case, I would target a move to the recent swing high This means that if the price of BANKNIFTY rises I would automatically sell my position to take my profits.
Conclusion
I believe that BANKNIFTY is bullish, and I am looking to buy on a pullback after a CHOCH in LTF . I would place a stop loss below the recent swing low and target a move to the recent swing high .
Comment:
Blue Setup Playing out well
Comment:
External Liquidity taken for extreme order block LTF confirms Change of character
High probability entry @44000
October month will be considered Sidways to an uptrend.
High probability entry @44000
October month will be considered Sidways to an uptrend.
Trade active:
Check out LTF Here in.tradingview.com/chart/BANKNIFTY/1D6PqyVU-Ping-Pong-Entries-in-BNF/
Follow us for more, if this helps you you can help others too by dropping a boost
Follow us for more, if this helps you you can help others too by dropping a boost
Trade active:
Opening at our High probability entry @44000 Buyside Trade
