COMPARING MY YESTERDAY STATEMENTS WITH REAL MOVE TODAY.
1. In point no. 1 of trading plan column I mentioned is quoting for your consideration " if price take out 30 min then trend will change to down side". You can see price could not take out red line on 30 min time frame therefore, did not move to given green and blue support zone. It was also clear trade as discussed in bnf post with sl of first candle to yellow trend line. See how conditions give you clue to trade in which direction daily .
2. In point no.4 clearly mentioned " like bnf next day can be range bound giving chances to trade both sides ". . You can see the structure of today move in this time frame is completely range bound. Yesterday dow was down at night but I was pretty confident of this move and wrote before dow was down. People on social media were taking on big fall for this day but I wrote range bound trade in both indexes result is in front of you. This is the power of technical analysis if done with depth.
3. Today even a single trader did not write about their trade . Was it proved painful day for them. Even if that so , please write your bad trade so that others can learn from your experience.
Trading plan for next day.
1. If price take out red support line with white trend line in 30 min time frame then short can be initiated with the target of green blue lower end of this zone. Tomorrow can be trending down day if next condition in point no. 2 gets failed .
2. See yellow trendline and green upper line is taken out in 15 min time frame then this down trend can change to upside .
3. Price between no trading area is shown by yellow arrow where I would not like not to trade till trend clarity is achieved. By taking price out of red dotted line.
4. If price takes out green blue zone down side in 15 min time frame then red support line is your target. All conditions are important in my analysis so follow them strictly. Rest market will decide.
YOGESH VATS
Disclaimer :- All position should be taken with consulting your financial planner . I can be wrong any day any time.
1. In point no. 1 of trading plan column I mentioned is quoting for your consideration " if price take out 30 min then trend will change to down side". You can see price could not take out red line on 30 min time frame therefore, did not move to given green and blue support zone. It was also clear trade as discussed in bnf post with sl of first candle to yellow trend line. See how conditions give you clue to trade in which direction daily .
2. In point no.4 clearly mentioned " like bnf next day can be range bound giving chances to trade both sides ". . You can see the structure of today move in this time frame is completely range bound. Yesterday dow was down at night but I was pretty confident of this move and wrote before dow was down. People on social media were taking on big fall for this day but I wrote range bound trade in both indexes result is in front of you. This is the power of technical analysis if done with depth.
3. Today even a single trader did not write about their trade . Was it proved painful day for them. Even if that so , please write your bad trade so that others can learn from your experience.
Trading plan for next day.
1. If price take out red support line with white trend line in 30 min time frame then short can be initiated with the target of green blue lower end of this zone. Tomorrow can be trending down day if next condition in point no. 2 gets failed .
2. See yellow trendline and green upper line is taken out in 15 min time frame then this down trend can change to upside .
3. Price between no trading area is shown by yellow arrow where I would not like not to trade till trend clarity is achieved. By taking price out of red dotted line.
4. If price takes out green blue zone down side in 15 min time frame then red support line is your target. All conditions are important in my analysis so follow them strictly. Rest market will decide.
YOGESH VATS
Disclaimer :- All position should be taken with consulting your financial planner . I can be wrong any day any time.
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Today's trade in nifty remains in a very tight range , therefore, did not violate any conditions either sides. So nothing new to add-in previous post, I feel no need to make a new post. All conditions will remain the same act accordingly in the next trading session. Enjoy weekend. Happy trading!