1. On 21st August 2020, I wrote in a series of nifty blog about the target achieved yesterday (28/8/2020), is quoting as proof of my manifestation of the current move one week advance with the perfect rhythm of levels marked in the previous fig. by price in point No.1 of trading section " My final target of the previous post was an upper white line where price made a zone with today trading. So that will be achieved in the coming sessions. See the red dotted line where the price is closed today. This line was earlier resistance now it will act as support so if the price in the next session does not take out in both time frames of 15 min and 1 hour then the white solid line and the white dotted line are the first targets.". Here you can see price did not take out the red dotted line downside and mentioned it as support which took price to the white solid line in a few sessions. In the statement, I clearly mentioned " my final target of the previous post" means I was 99/% sure that price is going to achieve that target.
2. Now you can see I marked the price movement in a pink box that is showing that white line taken out condition was not met almost one and a half-day. That was a clear signal that no need to go long till taken out condition gets activated in both time frames. Once activated see yellow solid line target achieved. A pink circle showing a yellow solid line acted as stiff resistance the one whole day. Can anybody explain why in more than 206+ post every when I mark only these react price follows my analysis without fail? See the grip of manifestation price never failed my levels. This the power of education. To create it in your analysis then the market is yours, money is yours. I another word I outline the complete movement of price in such a way price never reject. Proving in every analysis. You just need to understand my fig. The rest price will do Setting the previous fig. to compare with the current one.
Trading Plan for next week.
1. Price made micro-zone of yellow dotted line with a red line, It will be tough for the next session to take it out in both time frames for quite some time. Only next session opening if gap up sustains then you will see taken out the condition will fulfil. Otherwise, the price is expected to come to the yellow solid and pink dotted zone.
2. If price takes out the yellow dotted line in both time frames then a pink solid line will be the target. That should be the final target of this uptrend where all positional long should be covered.
3. on the contrary, if yellow solid and pink dotted line is taken out downside in both time frames of 15 min and 1-hour then uptrend will change to the downside. Then all positional long should be covered.
4. For new reader writing about taken out condition which is quite important to obey in 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.
Disclaimer:- All trading positions should be taken from consulting your financial planner. This study is for educational purposes only.
I have a one doubt regarding the one of the members message which you posted on Telegram on yesterday :
"Just to add one more analysis for understanding purpose. Today on day wise chart, It appears Dark cloud cover has appeared as it satisfies all the conditions such as 1. First body is strong with a long green candle, 2. Opening price is higher than 28th green candle. 3. closing price is below the center of the prior green candle.
Is my understanding correct sir ?
In this analysis , 3. closing price is below the center of the prior green candle.
However as the price closed below the 1st (28th green day candle) and it engulfed the previous bull candle completely & with volume. So according to me its a Bearish Engulfing pattern not a dark cloud.
For the dark cloud the price should be closed within the priors bullish real body ( more than 50% penetration) but within the body.
My intentions here are not to prove anybody's wrong, as I did not see your reply regarding his question so I asked.
And sir thank you for the hint today regarding the direction. Not traded today. Yesterdays profit was because of just following you as I did not find any pattern to enter but when you said cover longs .. I got it.Thank you.