1. On the 5th of Sep 2020, I wrote in blog of nifty in point no. 1 of the trading plan section is quoting as proof of perfection seen in the movement of price manifested a week ago. "I made a temporary green dotted line as support, the price can use this to move the upward direction till the green solid line. " One of my followers asked this green dotted line fulfilled the condition of taken out still price did not move to the white line. So Dear followers many of you do not read my words deeply. you just read casually like a storyteller who is describing some story, not analysis. Did you find anywhere I talked about taken out condition in point no.1 for the green dotted line? Rather I used the word " temporary" means taken out condition does not apply here. you are still acting as the condition. If you see carefully price went down and made microzone and boom. In fact, this was a trapping move marked in the pink square that only experienced one can see. In my 210 + analysis, I used temporary resistance support rarely just because of false moves. Here I try my level best to provide only those that could not give this sort of false signals. Sive I was confident of working this so gave without condition. So mark my word and act accordingly in the stock market. Many times I have written that my selection of support, resistance, and zones are based on my hundred of hours working on charts which can not be seen like matching with previous moves. You may find matching with previous moves but the origin is based on experience.
2. Now I marked the green circle two times showing the perfection of pink zone selection rather than the red dotted line as resistance which worked accurately. That is the example of setting zones, support resistance when and what will work among many. In the last fig, I made a green solid line but this time it is missing, and the yellow line is made. I know among many support that will work that all calculated with perfect readings. When the gap will work when not. So make charts your friend and spend time with them. In starting trollers used to comment negative but a consistent manifestation of levels with moves advance one week put hold on their ego. Rather they started to learn from my analysis. But to prove consistently in the market is not an easy task. This happened because I made charts, my friends. setting the previous week chart to compare with the current one.
Trading Plan For Next Week.
1. See I made a red zone till this zone is not taken out on both time frames of 1 hour and 15 min my biased is for the long side. But when it is taken out I will like to trade in downside with the target od white support. The red arrow is showing that support.
2. I made one white support If a total no of two candles gives close to below this level I will surrender my long. I will not wait until the red to be taken out. On the contrary, if this zone is not taken out then will re-enter in long side trade.
3. yellow and pink dotted line zone is the immediate target to book profit. If it is taken out in both time frames then the yellow dotted line will be the next target. Green arrow showing this route.
4. For new readers to understand taken out conditions attaching my post read it carefully to understand m analysis. In three conditions I sum up the whole week move but still traders not able to earn regularly because of timing the market. Practice it deeply. One should be clear about entry-exit while trading.
Disclaimer:- All information is for educational purposes only. Before trading consult with your financial planner.
one suggestion i could offer -step 1- draw yvatsji 3 or 4 wekly charts, as it is, only lines - both dotted and straight, and arrows, only nifty or bn. Keep aside every week beginning and ending index. study urself . donot refer yvatsji narration. note down urself your observation. I believe, your drawn charts will teach u something. then only refer yvatsji narration of that chart. Definitely u will be empowered a little to understand the movement of nifty as yvatsji manifests.
yvaatsji's " hundred of hours working on charts, I made charts, my friends" - a difficult path, a very rare ART - not so simple one. I believe one has to work hard to achieve the ART. And it is difficult to tell/write the struggle in learning any ART.
Hope yvatsji would accept my notings