Insights:Bearish Bias, small gap down or at yesterdays close.Red

Mar 8

BANKNIFTY Bearish Bias, small gap down or at yesterdays close. Red day.

Open: small gap down or at yesterdays close. Bearish Bias. Should retest yesterdays low, if broken should go further low as highlighted. Should end in red.

(Inner voice): Hmm... back again without any data points. What's your analysis ?
(Me): Its just a probability... 1. Based on my historical data analysis I see a Bearishness today.
2. My RenkoIndicator shows a sell signal.

(Inner voice): Can't trust your RenkoIndicator, it repaints and sometimes the signal just vanishes into thin air. hahaha...What if it just turns out to be a gap up and very Bullish ?
(Me): Always look at the pre-market and take the final call. Also have strict SL.

(Inner voice):Hmm... lets say you are right this time... how do someone take an entry, exit and SL ?
(Me): What i do based on the pre market if it aligns with me I enter a buy with say 1 lot on open and may add additional lot if it tests and rejects previous close in this case. SL will be previous days High and take profit 1 will be next resistance point as highlighted and so on.

(Inner voice): What if SL is too huge... and it turns against you ?
(Me): It depends and adjust based on if probability is high and have a strong conviction.

(Inner voice): Hmm...How do I trust you ?
(Me): Don't trust anyone blindly...Do your own research before jumping in... You are responsible for your trades and loss or profit. This is only my journal I am maintaining for my studies, research and educational purpose.

Follow strict stop loss.
Do your own research before investing or trading in any stock or indices or crypto.
Disclaimer:
I am not SEBI registered. This is not a financial, investment or trade advice. You are responsible for your trades. Its only for educational purpose.

Mar 8

Note

(Inner voice): Do you really do some proper analysis before you post. Just FYI today market is closed.
(Me): Not really, use common sense...As today is market close. should apply for next trading session...

Mar 8

Note

(Inner voice):Hmm...come on ...how can I trust your analysis...you don't even know today market is closed...
(Me):Don't have to trust me. This is only my journal I am maintaining for my studies, research and educational purpose.
Now how do I shut my inner voice...keeps annoying me....

Mar 8

Note

(Inner voice):Hmm...come on you cannot shut me down...Remember I will be your brutal critique which is meant to be honest and potentially harsh, but ultimately aims to provide constructive feedback for improvement.
If someone puts all his money to trade based on your idea...he will lose his whole capital and his pants too...hahahaha.
(Me):whatever....just shut down for sometime atleast....

Mar 11

Note

(Inner voice): Hmm... Looks like things are moving in your direction...Actually if a blind man throws 100 stones...sometimes one or two mangos may fall...

Mar 11

Trade closed: target reached

Hope some of you could catch the fall. Share your comments, like, boost, share, follow.

Mar 11

Note

(Inner voice): Hmm... once in a while anyone can claim to be right. Can you show me consistently winning for next 1 month ?
(Me): Not possible, sometimes you need to take SL.