1. On 10th July 2020, I mentioned in my blog of nifty in point no. 1, of a trading plan, is quoting as proof of what you saw in two days has already manifested two days back in form of support, resistance, zone, and conditions for trades. " the price was expected to come down to the red-green zone the red line is replaced with a blue dotted line. To better understand I set the previous fig below. Now it is less probability to move the price to the green line. If the price takes out a white red zone in a 15 and 1-hour time frame then it can move to a lower blue dotted line. If this condition is not satisfied then the price will resume its uptrend.". Can you pay attention to the wordings of my July 10 statement how clearly I said less probability to visit green line and gave a clear target of the blue dotted line? How many analysts provide such clear manifestation on a regular basis. Please take out one published idea in 190+ posts where My given lines did not behave magically. All targets are achieved. In their calls, check yourself the strike rates of their calls and my calls. Here What I posses need not glorify, just to motivate you all for devoting your time and hard work to learn this art is my motive. I have seen many followers who took two months three months to follow me because they wanted to check my strike rate. Ultimately they came and followed me. This is the depth of manifestation of moves. There are many traders who write their good & bad trades in the comment box of every post. Where the ratio of good is more than bad. So invest your time in education that will make money in the future.
2. Setting the previous posts to make you understand the complete move in comparison with the current.
Trading Plan For Next Session.
1. One yellow line is made if this is taken out in 15 mins then the price will move to the white-green zone. Otherwise down move will continue to blue dotted line downside.
2. In any case, price takes out white and green zone upside in both time frames then the pink line is the target. If the pink line is taken out in both time frames 15 and 1 hour then the upper blue dotted line is the target.
3. If the blue dotted down line is not taken out in both time frames then the price will remain range-bound from this line to the pink line.
4. If price takes out the lower green line then both time frames then I will be on nifty . Right now neutral. For new readers, it is important to understand taken out conditions properly because that is the base of analysis. Writing the same for you.
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.
5. Old followers if you still feel the condition is not clear in your mind, please see the 8th July post of nifty where explained in detail when price becomes range-bound. It is easy to implement when the price is trending but in rangebound really difficult that needs practice. attaching the same post. The rest price will decide.
Disclaimer:- All trading positions should be taken from consulting your financial planner. This study is for educational purposes only.