1. On the 16th of June 2020, I mentioned about harami pattern and shared blue dotted line almost 24 days ago that target was achieved on the 9th of July 2020. That post statement is quoting for your consideration and fig also to authenticate my claim. " When this movement started I informed by highlighting the white circle pattern that is harami. What a move Hdfc gave to traders in the last ten days. Every bit of movement was covered in two analyses in a week." This statement I wrote in the last post referring to the 16th June post. Setting 16th June fig for your consideration compare it with current fig you will realize how perfectly every move I shared with my support, resistance, and zones with the help of conditions.
2. On the 26th of June 2020, point no.1 of the trading plan what I mentioned is quoting as proof of the present move " I made one red dotted zone till this is not taken out in 4 hr time frame positional long will validate with the target of red channel upper band." You can see the price satisfied with this condition and reached to the red channel. I did not manifest this move up to this level in point no .3 of the same-day post (26th June) how clearly I mentioned blue target and aftermath down move is quoting as a proof " Upside if the price breaks the red channel band then the blue dotted line will act as tough resistance. So try to see a short set up. Positional long shorts use red and yellow dotted lines as a stop-loss point.. Here I did not mention taken out condition generally I always this condition. But here I used" breaks "word. How meticulously I try to manifest every move in advance has been proving since I posted my first idea on this platform. I never talk in the air always prove my statements. Setting 26th June fig for authentication.
Trading Plan for next week
1. In the current fig, I made an upside red dotted line if price takes out in 1 hour and 1-day condition then the white upper line is the target.
2. On the contrary, If the red down with the yellow dotted line is taken out in 1 hr and 1-day time frame then the lower white line is the target. In any case, the white lower line is taken out in 1 hour and 1-day time frame then the lower blue line is the target. Red arrow showing a change of sentiments from that area.
3. 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.
4. The rest price will decide.
Disclaimer:- All trading positions should be taken from consulting your financial planner. This study is for educational purposes only.