There is an ABCD, there is a triangle formation in development, one potential Double top which is evolving within triangle.. yea... We have various pattern styles in single chart of Nifty. Versatility in one word.
We have good triangle formation, most of you might have found earlier itself & we are expecting a false breakout on the upper trendline with Double top to move down later in the day or 2mrw. WHY ?! Whenever there is less volatility, big funds gets active bcos that's the time they can do stop hunting bcos for positionals stops will be widers, you can't move market till those zones. but in less volatile days, stop loss orders will be crowded in specific zones & bcos of scalping trades it will be within few points reach, so just a single wick takes out the stops on less volatile days.
If I'm not wrong, I think I didn't post that ABCD to community, anyway even if its after move, will be helpful for your learning how it worked , time n again proved.
Nifty made a move while I'm writing the description, not a prob , posting as it is, if you are scalping just take care where your stop orders are placed.
Happy Trading !
We have good triangle formation, most of you might have found earlier itself & we are expecting a false breakout on the upper trendline with Double top to move down later in the day or 2mrw. WHY ?! Whenever there is less volatility, big funds gets active bcos that's the time they can do stop hunting bcos for positionals stops will be widers, you can't move market till those zones. but in less volatile days, stop loss orders will be crowded in specific zones & bcos of scalping trades it will be within few points reach, so just a single wick takes out the stops on less volatile days.
If I'm not wrong, I think I didn't post that ABCD to community, anyway even if its after move, will be helpful for your learning how it worked , time n again proved.
Nifty made a move while I'm writing the description, not a prob , posting as it is, if you are scalping just take care where your stop orders are placed.
Happy Trading !
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Is the font size too small ? Let me know, I'm using different monitor than usual one.
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For additional confirmation on 15 mins, go for RSI or stoch
For additional confirmation on 15 mins, go for RSI or stoch
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When we call something false breakout, indeed it is "falls" breakout , thanks to Nifty :)
