Hi Traders, 1. On 1st of Nov 2020, I wrote in my weekly blog of Nifty in point no. 1 of the trading section is quoting as proof of my previous statement regarding the move you seen in nifty " As price made an evening star pattern on the red dotted line if the price has to change its trend to upside then the black dotted line has to take out in both time frames of 1 hr and 15 min. Aggressive traders can go long on 15 min but with stop loss. The target would be a pink line. " Here you can see the price was in downtrend mode and it was difficult to think whether it will move upside or not. But the words of quoted statements are crystal clear " if the price has to change " . Why exactly I provide those points from where the trend has to change proving in every post more than 225+ maintaining consistency without fail is not an easy task. people can give you a 50 % correct assessment but maintaining 99% is not an easy task. That sort of information I try my bit to provide you in this market with exceptional volatility. When I write my conditions they all always full of conviction. In the last post in point no2, I wrote with confidence and proved this week is quoting again my words related to the market provide concrete information. "The metrological department can not deliver its forecast consistently correct but I try to give consistency in my analysis proving since the first blog." In this financial market, I think very few analysts can write a week before with such conviction and marking. That level of information you will find in my blogs. Take out any post where I did not first prove my statement.
2. Now see the marking of candle first in a pink circle showing a breach of the black line this had to be used as stop loss candle for further trade. candle no. 1does not satisfied taken out condition in a 1-hour time frame whereas candle no.2 fulfills that condition. only then a long position had to be created with sl of the breached candle. green circle candle was a test of demand and thereafter you see Boom-Boom. My target was the pink line but if you see the previous fig of last week I put a green arrow above the pink line indicating further move. My words and actions in form of marking on the chart prove all my manifestation of this sort of move one week earlier. Setting the previous chart below to compare with the current move.
Trade Plan for Next Week
1. A blue line is seen in fig. if this is taken out in both a time frame of 1-hour and 15 min then you will see further move but I would not be convincing from that It might travel 150 to 200 points ultimately trapping bulls will come down.
2. On the contrary a red color line is taken out on both sides downside then a fall will be seen but with volatility. so profit has to be booked soon. Blackline will act as support.
3. For new readers writing how taken out condition is implemented read carefully. 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 the next candle and close should be above the previously breached candle. This is how taken out condition is being implemented.
Yogesh Vats Disclaimer:- All trading positions should be taken from consulting your financial planner. This study is for educational purposes only.
I missed the entire rally it was my fault.. I had position of Nifty Nov 12500CE(two lots) at 58 and when it down to 38 i added one more lot and at 60 i booked and today it is trading 285..
yvatsji
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@Manoj_ooha, it happens that is called the timing
Goutam5196
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Nifty sidways to down...not trading this choppy leg... will be looking for buys in 12530 zone
mrhariA7
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Sir, today after seeing you message of ranngebound and mostly downside, on seeing hanging man pattern at 10:10 in 5 mins nifty chart near 27 ema I shorted 12700CE. but marked went up after that with power resulting in loss. Pls suggest how i shud have handled better.
yvatsji
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@mrhariA7, First you got the wrong impression of mostly downside I used "tilted downside" means when you see the move at the end of the session it would appear like this. It does not mean to short the market. It means to wai the right place for that position, In the morning when the market opened, I was busy in reply so missed first min entry and missed downside move though I knew in moring what I had to do. In that frustration, I did not board the bus of upside. As said many times every up or down move is not meant for trading. I am still waiting for the right place, which the market will create for me. How to deal with this is timing education. More people will write their unsuccessful trade then I will think over it.
Goutam5196
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NIFTY getting trickier to trade.
Chart_Asset
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Hi sir,
As market opened gap down and 5min candle is broken down next 5min candle bought 28000PE at 29 booked profit at 70 because today is expiry day and expecting range bound day.
mrhariA7
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Sir, Today i am happy that I did a small good trading looking at charts and your messages. I took 12750CE today morning looking. though there was a fall during the day, I heldon and added 1 more CE lot after fall. Closed the Open position today after the strong rebound with 3k profit. I sold 12800 ce at peak in morning after looking at 3rd 15 min candle but booked it prior to big fall candle. Happy that I am learning and getting more confidence
I missed the entire rally it was my fault.. I had position of Nifty Nov 12500CE(two lots) at 58 and when it down to 38 i added one more lot and at 60 i booked and today it is trading 285..