#nifty50 - Gann levels for the upcoming week and how to trade
Trade between the levels. Okay, bye!
Just kidding.
Before reading further, give a like and comment after reading it. Not kidding, because that keeps us motivated.
Read everything to understand levels better.
~~~~~~~~~~~~~~~~~
Coming to the chart-
As you can see above that how the price is rejecting and giving a breakthrough from these levels.
Let's see in more details.
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Chart 1- Opening excess (TF 5 min)
In this chart we can see as nifty opens most of the time it has opened above or below these levels with quite significant points and moved back in the levels.
I suggest it for traders to have patience and wait for price to settle and then look for your setup.
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Chart 2- Break throughs, rejection and failures.
In this chart, we can see how price has behaved at the major levels.
If we observe the chart the most major Gann level, we can see is red and green line.
But we cannot take black dotted lines out of the picture. This line has given consolidation to the price and targets to book some or most of the profits depending on the specific trade day volatility. So breakout/breakdown\ rejection will not come so handy for an entry, unless it fits your rules and setup.
=============================
Chart 3- Confluence of the horizontal S|R zones. TF -15 min
In this chart, we can see the confluence of the horizontal zone has given an extra cushion to our Gann levels and we could have saved from the breakdown. Similarly, if you have some other cushion, you can use that.
====================
Now, from here, your trading skills will take you forward. I have done my part. Best wishes and happy trading,
You guys can note down the levels and plot it on your chart and trade with your risk management and setup.
Also, a kind reminder, please give a like and comment as it is the only thing to keep us motivated.
Regards
Just kidding.
Before reading further, give a like and comment after reading it. Not kidding, because that keeps us motivated.
Read everything to understand levels better.
~~~~~~~~~~~~~~~~~
Coming to the chart-
As you can see above that how the price is rejecting and giving a breakthrough from these levels.
Let's see in more details.
---------------------------
Chart 1- Opening excess (TF 5 min)
In this chart we can see as nifty opens most of the time it has opened above or below these levels with quite significant points and moved back in the levels.
I suggest it for traders to have patience and wait for price to settle and then look for your setup.
=======================
Chart 2- Break throughs, rejection and failures.
In this chart, we can see how price has behaved at the major levels.
If we observe the chart the most major Gann level, we can see is red and green line.
But we cannot take black dotted lines out of the picture. This line has given consolidation to the price and targets to book some or most of the profits depending on the specific trade day volatility. So breakout/breakdown\ rejection will not come so handy for an entry, unless it fits your rules and setup.
=============================
Chart 3- Confluence of the horizontal S|R zones. TF -15 min
In this chart, we can see the confluence of the horizontal zone has given an extra cushion to our Gann levels and we could have saved from the breakdown. Similarly, if you have some other cushion, you can use that.
Now, from here, your trading skills will take you forward. I have done my part. Best wishes and happy trading,
You guys can note down the levels and plot it on your chart and trade with your risk management and setup.
Also, a kind reminder, please give a like and comment as it is the only thing to keep us motivated.
Regards
Comment:
10/05/2021- As mentioned in the description, the price consolidates around black dotted line and didn't give a clear move.