Hi Traders, 1. On the 5th of July 2020, I posted my analysis on nifty wherein point no. 1 of the trading plan I mentioned is quoting for your consideration " If the market opens little up near the blue line upside then see price action whether in the next 30 mins is it coming down or not. If the price is coming down then can be the first sign of changing trend to down and later on range-bound.". You can see the price opened the next day up and fulfilled the condition of upside without moving down. You will not see some line in the current figure as not needed now. To prove my statement setting below that day figure so that you can compare it with current and my statements. In point no.3 of trade plan I mentioned is quoting for your consideration " If price takes out upper blue line in 15 min time frame then aggressive traders can open long with an entry on a small time frame. The target would be the white upper line. Always remember to see a 1 hr time frame also as you know long can only move up when this time frame condition will also get fulfilled. " . You can see that the mentioned condition was fulfilled and the price moved to the white upper line. This is a dot to dot manifestation which I provide you in every post all record is available in my all post 180+ in my profile ideas. Not in a few posts all post whether in stocks or indexes.
2. Many people who seem to be suffering from schizophrenia and live in their egos could not digest the sort of accuracy and my work to make every struggling trader stand his own in this market without charging a penny from them. Since they are suffering from the above-mentioned ailments live in their own world. As their mind is chemically imbalanced. They are such blind fools who never see I write the move first, one day prior to the actual move with all support, resistance, and zones with accurate conditions. And the next day my first job is to compare my statements with the previous day. Even Highlight my quotes with proof still because of chemical imbalances of their mind write in comment box illogical and abusive words. To them Did I open your buffalos from your house? If not then do not show your standard of writing and thinking to us. I do not call you to read my blogs. But I know the chemical imbalance insists you read every word of my blog because without that you people can not sleep. This the achievement of my work which forces you to track every line of it without following me. You do not have the potential to write your own blogs and show consistent results. That makes you in-comfortable. So please go and get checked yourself at the psyco doctor.
Trading Plan for the next session.
1. Today I will provide some light on the concept of taken out conditions with examples because I still feel many traders do not understand it properly. This is the base of my analysis If you want to understand my work and want to earn daily then understand it properly. This is the first time in the last three months where the market had different structures in nifty today. And gave me the opportunity today to discuss with you. See in the current figure above as I told you my target is a white color line in the upside. Price reached there and in two days of trading could not fulfill taken out condition in a 1-hour chart. But in the 15 min chart, it fulfilled. As you all know taken out condition is activated when both time frames validate it. See in fig I marked 1 on the bullish candle which breached the white line but that day price could not give any close above candle 1 high. So that day not activated. For aggressive traders, I showed stop loss to go long in the green line. This is the low of the previous candle. There is no hard and fast rule to put stop loss at previous candle it could be the same breached candle depending upon the size of the candle. If the breached candle is big then stop loss will be the same candle if it is the small than then previous candle.
2. In 2 marked candle price also breached white line the next day but after that one bearish candle made high but closed below the high of breached candle 2. In this way taken out condition was also not fulfilled the second day. But here the ref candle was changed in next attempt the price has to take this bearish candle high to fulfill breached candle. This happens in the case when prices make a range around the given level. In the case of a trending market as you have been witnessing for the last three months only breached candle high is sufficient. 2 nd candle long stop loss for aggressive traders are shown in green. For 3 rd candle stop loss is also shown in green. This is how taken out condition works when price become range-bound near any given level.
3. For new readers mentioning taken out the condition for your reference. 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.
4. See I made a white circle showing a morning star pattern that took the price to the upside is breached today. Means nor taken out condition was fulfilled in two days trading nor a morning star is valid. So hight probability prices will move down to the red and green zone.
5. In any case, the upper pink line is taken out upside in a 1-hour time frame then the trend will change to upside. Right now it is deep retracement till red and green zone is not taken out. Red arrow showing downtrend and green showing uptrend from these areas. The rest price will decide. YOGESH VATS
Disclaimer:- All trading positions should be taken from consulting your financial planner. This study is for educational purposes only.
It is a new learning for me to understand trading technique in range bound price move. Thanks for your time in explaining in detail. Couple of questions to understand it better:
1. today at 1:15 the taken out condition was satisfied and trade would have taken provided the candle at 3 was bullish, right?
2. only when bearish candle is formed in range bound setup like you have explained here, we need to wait for the hour candle to close higher than bearish candle high(not close right?)?
Thanks again.
deepaksrr
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Thanks for the detail analysis, let's see how this gonna go. Cheers!!
Bijay_Prakash
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Thank you so much sir. Taken out condition idea, all doubts got cleared. Now i will try to find it in charts.
once more thank you for your efforts sir.
MY TOTAL GAINS IN THIS WEEK 66+53+100=219POINTS . OPEN POSITION SOLD 11800CE AT 68 &10650PE AT 56. HOPE I WILL WIN BOTH TRADES TODAY.THANKS FOR HELPING ME TO MAKE EXTRA PROFIT. PREVIOUSLY I HAVE LOST MANY TIMES IN BANK NIFTY SO I STOOPED PLAYING BNF. BUT YESTERDAY I TOOK CHANCE WHEN BNF BROKE OUT 22600 I SOLD 22500PE & BNF SHOOT UP I BOOKED 149POINTS AGAIN BNF CROSSED 23000 I SOLD 23000CE THEN IT CAME DOWN SHARPLY I BOOKED ANOTHER 150POINT.(I TOOK CHANCE IN BNF AS I GOT EXTRA 66+53POINTS FROM YOUR GUIDANCE) BUT I SALUTE MY FIRST GURU WHO TAUGHT ME TO ONLY SELL CALLS &PUTS TO MAKE MONEY.SELLING CE/PE GIVE YOU 200/250 POINTS COVER SO CHANCES OF LOSS ARE VERY FEW.
Sir, I have been following you for more than 2 months and since then I was curious to know that why do you use 111 EMA and 27 EMA? What's the reason you use an odd number EMA instead of even number EMA?
ThankYou Sir!
yvatsji
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@Lakshmundhada, That is related to fib ratio. See on any chart it works best.
1. today at 1:15 the taken out condition was satisfied and trade would have taken provided the candle at 3 was bullish, right?
2. only when bearish candle is formed in range bound setup like you have explained here, we need to wait for the hour candle to close higher than bearish candle high(not close right?)?
Thanks again.