Hi Traders, 1. In last week's post, I mentioned in the trade plan next week is quoting for your consideration." if the price takes out a yellow line with the above-mentioned condition then the trend will change to upside." See in the last post I showed you two patterns circled in white and red. The white one evening star and red one dark cloud on the same white resistance. Since I wrote dark]]k cloud is not activated till yet. If the activated price will move down. You can see this pattern not activated and the yellow support line provides the good support and price moved up. My followers Have you ever thought about why I provide perfect support and conditions? Why price reacts to these markings. Why I do not make these support resistance up and down? More than 175 + post authenticate the above-mentioned questions. Since new readers can not think about this but you all have been watching since I started two publish my ideas.
2. In every post, I mention conditions and how accurately all work. This is a matter of deep thinking. for new readers, I write taken out conditions. And set last week's posted chart for your comparison of my statements for better understanding. 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.
3. In the current fig, I made two red dotted lines you need to understand these conditions for further trades. To move up price has to take out upper red dotted line in 4-hour time frame and next day closing has to be above last day closing. If this is not satisfied then chances of price to be range-bound in these two dotted lines.
4. On the contrary, If the price takes out a lower yellow line in a 4-hour time frame and the next day closing is below the previous close then the trend will change to the downside.
5. On the upside, the white dotted line will be the target. since the candlestick formation is negated by price so It should achieve the white dotted line as a target. 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.
@yvatsji Sir, on 7th July, Yellow line breached on day candle but today 4 hour condition didn't satify the taken out condition. My question is if next day candle breached yellow line and give close below 7th July candle, would that mean taken out condition fulfilled although there is a gap of 1 day in between.
Also, if taken out condition fullfilled what is the target? is it blue line i.e. 178?
Bijay_Prakash
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Sir,hai.. good morning
sir, i usually trade in stocks . I enter in a trade when a breakout happens at support or resistane. But most time the trade goes in my view after hitting my stoploss, in the same candle itself. can you please say why this happens?
im a beginner.
thanks.
yvatsji
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@Bijay_Prakash, See this happens only when support and resistance you select are not trustworthy. See in my all post support and resistance I select they either fail or taken out. No false signal.
Bijay_Prakash
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@yvatsji, yes,sir all your zones are pakka accurate. Thats what i need to learn ,how to identify these zones.
yvatsji
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@Bijay_Prakash, Start study the recommended books of level one.
Bijay_Prakash
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@yvatsji, yes,sir im on with Steve nison's candlestick Coarse. I get to know about that book from your earlier comments. Sir, once if you would upload a video about taken out condition, that would be greatly helpful for beginners like me. As i'm not confident that i understood it in the right way or not.
Thanks for your support sir.
mkharish
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Thank you Yogeshji for your analysis on stocks and I am looking at all your weekly analysis and buying stocks for gains in short term (1-2 weeks) as per your conditions.
yvatsji
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@mkharish, Good to hear it .That is what one of my motives.
Cheers..
apkj10
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I have bought itc 210ce (call) at 6₹.
And now it's showing 199.85 ce.
So what will be the effect of it on my options position.
It will be negative or positive any idea?
Also, if taken out condition fullfilled what is the target? is it blue line i.e. 178?