1. In point no.4 I mentioned is quoting for your consideration " if upper blue is taken out by gap up then pink zone upper end is my target." .You can see price opened slightly gap up and took support of same blue line where it took resistance for two candles shown in green circle. This process is called resistance converting into support. And you can see pink color zone upper band target achieved. I visualize the move in my mind and eyes then manifest conditions . Its on price which condition its selects to perform. Everyday one thing is to be noticed that when condition is validated by price you see that side move on contrary if it gets failed you see other side move . There is no if and but after validation or gets failed. Means no fake breakout no confusion . That is the characteristics of magical conditions.
2. Today trade was simple in nifty as compare to bnf once resistance turned support trade was quite visible with the help of selected condition Everyday many traders write their good and bad trades in all post whether of indexes or stocks . The ratio of profitable trade is far ahead than non profitable. Bad trades are due to non understanding of condition or bad timing of risk to reward. Even I also learned many things form traders when they explain their trades. My advice is for genuine seekers who rally want to learn this art ,they should visit all posts comment box to see educational questions and replies that will help you understand more in terms of trading. Traders reasons of entry exit are also good part of learning . This way you can create edge helping each other . Those who follow me on twitter , They should see all back psychological clips on trading by scrolling my profile . If you have seen all once go to read next after 15 days so that the psychology explained in form of clip make you remind are you using it in your trading or forgotten just by once reading. See these are where I shared my own experience not copied by anyone. When you attain that level when things get feel ,only then can be shared in form of experience. when you have depth of that feel only you can describe with correct words otherwise not. So read them twice in month. slowly -2 all will be part of your subconscious mind and you will be able to take edge in trading. Time to time I add new .
TRADING PLAN FOR NEXT SESSION.
1. See I made a white and blue lower zone If price stays in this zone then chances to move up to blue colour zone lower band . In case price breach and do not recover in 15mins inside this zone then chances of take out this zone will increase .
2. If price consolidated near( both sides)of this zone for sometime then chances to break down will increase. on the contrary if price consolidate by breaching it only one time and rest of time remains up the chances of going up will increase.
3. If price break it and go down to white and come to red line above then chances to be range bound will increase if red zone is slightly breached . And price come down in same candle . On the contrary if price move from to this resistance and cross it with momentum then price will move upside then no if and but.
4. If price open gap up at blue zone lower end and do not sustains in 15 min then trend will change to down side but that will later on become range bound.
5. I will surrender my longs If price get rejected from red line and start trading down. After breaching white Pl do not take short It might be false break out wait price fulfil taken out condition. Hope all conditions are clear . Rest market will decide.