Nifty | Range perspective:
- The price has been moving in this range for the last 2 weeks.
- The range is 650 points wide. Using the measurement objective provides us with a target of 650 points in either direction.
- This means that, whenever the price moves out of this range, we can expect 17k or 15k.
- I'd be looking to trade either direction with a strict SL.
- Currently, the bias is bearish because the HTF structure is bearish. I'd be willing to short near 16450-16400 if the price gives me an opportunity.
- In case, the price moves above 16450 and sustains, the intermediate bias will shift to bullish.
Nifty - M15
These are the levels that I am looking at.
- The initial supply zone is the point where the HTF sellers entered the range high and pushed the price downwards.
- The secondary supply is the point where the HTF sellers dumped the price today.
- The price is at the flip zone and can move either way. I am looking at 3 favourable scenarios where the HTF sellers defend their positions and push the price towards the unfilled gap.
- We can also observe the formation of the Head & Shoulder pattern, which will get confirmed only after the breakdown of the neckline.
- The breakdown of the H&S will also confirm the breakdown of the flip zone, in which case we can expect the price to fill the gap.
- The depth of H&S is about 270 points, which also aligns with the bottom of the unfilled gap.
- Hence, all of these factors are adding up for a beautiful short, either tomorrow or on Thursday.
- This analysis may or may not work out. So, please do not take any random trades based on this.
Nifty - M5
- Beware of the trendline breakout since there is a supply zone overhead. The breakout can be a fake breakout just to trap more longs before moving downwards.
Thanks for reading! Hope this was helpful.
Disclaimer: This is NOT investment advice. This post is meant for learning purposes only. Invest your capital at your own risk.
Happy learning. Cheers!
Rajat Kumar Singh (@johntradingwick)
Community Manager (India), TradingView
- The price has been moving in this range for the last 2 weeks.
- The range is 650 points wide. Using the measurement objective provides us with a target of 650 points in either direction.
- This means that, whenever the price moves out of this range, we can expect 17k or 15k.
- I'd be looking to trade either direction with a strict SL.
- Currently, the bias is bearish because the HTF structure is bearish. I'd be willing to short near 16450-16400 if the price gives me an opportunity.
- In case, the price moves above 16450 and sustains, the intermediate bias will shift to bullish.
Nifty - M15
- The initial supply zone is the point where the HTF sellers entered the range high and pushed the price downwards.
- The secondary supply is the point where the HTF sellers dumped the price today.
- The price is at the flip zone and can move either way. I am looking at 3 favourable scenarios where the HTF sellers defend their positions and push the price towards the unfilled gap.
- We can also observe the formation of the Head & Shoulder pattern, which will get confirmed only after the breakdown of the neckline.
- The breakdown of the H&S will also confirm the breakdown of the flip zone, in which case we can expect the price to fill the gap.
- The depth of H&S is about 270 points, which also aligns with the bottom of the unfilled gap.
- Hence, all of these factors are adding up for a beautiful short, either tomorrow or on Thursday.
- This analysis may or may not work out. So, please do not take any random trades based on this.
Nifty - M5
- Beware of the trendline breakout since there is a supply zone overhead. The breakout can be a fake breakout just to trap more longs before moving downwards.
Thanks for reading! Hope this was helpful.
Disclaimer: This is NOT investment advice. This post is meant for learning purposes only. Invest your capital at your own risk.
Happy learning. Cheers!
Rajat Kumar Singh (@johntradingwick)
Community Manager (India), TradingView
Comment:
Update (25 May):
- Clear rejection from the secondary supply zone after trapping the longs.
- Clear rejection from the secondary supply zone after trapping the longs.
Comment:
Update (26 May):
Almost hit the target of H&S and reversed. Front ran by 0.35%.
Almost hit the target of H&S and reversed. Front ran by 0.35%.
Comment:
Comment:
Rajat Kumar Singh,
B.Tech (Delhi Technological University)
Community Manager (IN), TradingView
✅ Telegram: t.me/johntradingwick
✅ Blog: tradingwick.in/
✅ Rounding Top pattern: tradingwick.in/chart-patterns/rounding-top
B.Tech (Delhi Technological University)
Community Manager (IN), TradingView
✅ Telegram: t.me/johntradingwick
✅ Blog: tradingwick.in/
✅ Rounding Top pattern: tradingwick.in/chart-patterns/rounding-top
- Breakout of the trend line to trap longs.
- Run into supply, dump back to take out all the long SLs.
- Clean 240+ points move from the highs.