yvatsji Premium Updated   
Hi Traders,
1. On 28th July 2020, I wrote in point no. 1 of the trading plan is quoting as proof of how early tracing of change in trend helps many positional traders to go wrong in their trade. " See I made a pink line at the bottom which indicates if it breaches then any positional long should be covered. In fact, the first 15 min candle if the price comes to near this line one should cover longs. " You can see when this line breached price never recovered from the down move to up move. The circled candle in green is responsible of change in structure of long side. Setting a previous post fig to understand the current fig better.
2. In point no.4 I clearly mentioned is quoting for your consideration " In any case, today's low is breached then this downtrend will resume." Here the current low is 28th July low. That is breached now downtrend will resume. but it does not mean you will not get pullback of downtrend.
Basically sell on rising is market now till the above red dotted line is not taken out in 4 hour time frame.

Trade Plan For Next Session.

1. A downtrend pullback can be seen to green dotted and blue dotted zone. If the price sustains between zone for 45 mins then can go to red dotted line. If price sustains in a zone then positional long should be covered. Because in case the price moves beyond red dotted line then lose of
of positional short can be minimized.

2. If the price falls from green, blue dotted zone then one should keep an eye on price after breaching red line whether continuous selling is seen or price getting range-bound because selling can be stopped there without filling taken out condition.

3. On the contrary, if a red solid line is taken out then the price will move to a white dotted line.

4. In any condition price takes out red dotted line upside in 4-hour time frame only then trend will reverse from downside to upside. Since price has entered into the correction phase so range-bound volatility will be seen making trade difficult into both sides. Not providing the taste of trending move. A small trend will be seen.

5. For new readers taken out condition is writing to understand my analysis.
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.
The rest market will decide.


Disclaimer:- All trading positions should be taken from consulting your financial planner. This study is for educational purposes only.

Correction positional long is actually positional shorts in point no.1