1. On 3rd of October 2020, I wrote in my weekly blog of nifty about the boom you saw in nifty in point no.2 of the trading plan section is quoting as proof of depth in precision marking with just two in a very simple way without any indicator, not even . " On the contrary, if the is not activated then the pink zone will be taken out in both time frames only then initiate longs. This is how the direction will be decided." Here you can see in a crystal clear manner I wrote if a not activated then the pink zone will be taken out with such confidence that price will have to move upside. you can see the whole week it remained up. When I write my conditions, they are always with utter confidence because I manifest the whole movement in such a wave price has to react on my levels with conditions. Proving in every post. In every post, I prove my statement first then I give you the next plan. When this sort of depth, I try to provide you with your trading decision one week ago. With this sort of information, you can not earn then you need to think over it. where are you lacking? This is not in one post consistently I have been proving in all my posts on record for your consideration.
2. Why price does not go beyond my ranges which I provide yo consistently, is a matter of thinking? Analysts provide the levels and they are right sometimes but every post shows the price following your levels so consistently, you have not seen regularly. But here in my blog, you will see consistently without fail. That is why even trollers can not dare to write anything wrong as I manifest every move 7 days before it happens. They all get speechless when they see consistently this sort of performance. When I used to write my initial blogs, they tried but with consistent performance, they understood no flaw in my studies. Rather than criticizing, they became silent followers. This is how one should do his/her work with the perfection that the opponent gets speechless. When I write all these things not to glorify myself my depth will remain with me forever. But I want to motivate newbies that you also can achieve this depth in your analysis by regular hard work. just start moving in that direction. Setting the previous week fig for comparing with my current fig and my statement.
Trading Plan For Next Week.
1. See in the current fig I made a pink line as resistance If the price has to move up then it has to take this line up in both times frames of 1h and 15 min. It has to fulfill my condition taken out. there is one possibility in the next session it fulfills that condition without fall then this will be a trap for bulls. so trade cautiously.
2. On the other side If the price does not fulfill taken out the condition and falls that would be healthy for the next upside move. use that fall for buying. A red zone is seen as a this should be used for buying. But if price takes out the red dotted line then this uptrend will convert into the downtrend. But it does not mean jump into the sell-side, wait for a bounce to come then sell.
3. For new readers writing the implementation of taken out condition is as follows:-
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.
Disclaimer:- All trading positions should be taken from consulting your financial planner. This study is for educational purposes only.
I saw some confusion in support & resistance level among some followers, which I used to give earlier like support -2 and resistance -2 have been stopped. As time has come to calculate yourself. Some of you can think the price will remain in given support and resistance that is not the correct reading. Like the previous post. Which side condition will fulfil price will move that direction. Many time I have written, I change my sentiments with the condition. If you read I am bearish it does not mean I will remain forever, as soon as my condition will fulfil any side, I will switch my direction that side. So keep that part in your mind. You people stick to one sentiment but I change with the condition.
Yesterday I had taken 11600 PE but after that big candle I exited with 20 points loss as per risk. Today I am busy in office just now opened TradingView missed big one. But I feel I did right thing to exit with 20 points loss hoping that it will come back again mindset will loss my capital.
I think its a pull back sir. Major trend is up, while intermediate trend is down. In BNF, price had taken support at trendline and bounced (pull back) but was rejected at 27ema (resistance at 27ema). In nifty the ascending trendline is broken and price is making lower highs and lower lows. Here also it has taken resistence at 27ema. Shooting star in 15min timeframe at 12.15 followed by hanging man and Doji, upward momentum is less, all put together upward break is less. So i think we can assume it to be a pullback until a positive crossover of ema occurs and descending trendline is broken.