Nifty Forming a bullish Head n Shoulder in Daily time frame, But the market sentiment Bearish. It has a depth to come low near 10640, which i personally feel it wont. Nifty may come to 10750-30 and may start go upwards. Probably there will be a gap up tomorrow around 10800 to 820, then it will come down to 10750-30 and sharp up side move according to me.
So what should be the strategy for 4th Sep Intraday?
We should try to see higher high and higher low in 5 mins time frame near 10750,10810,10860,10930 while reversing from 10730. And follow the strict rule posted in my previous posts that's it. To understand the 5 min trick you can see my previous post attached image.
sell below 10630 target 10590,10560 Cheers!!
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As part of the rule SL always will be below the last structure it broke and additional buffer 11 points.
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10730 it will reach we will see there how market behaves
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Entering @10810 if crosses
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target 10850 and trail SL10760
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Trail sL to 10830 SPOT
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If you look more profit to book you can try to move the SL to 10815 Break even
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I am out of the Trade 20 points captured
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Just imagine not a single day loos and daily 5k, in between Chouka and Chhaka!!
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There is a myth 95% intra day traders fail. How to break that Myth? this is the solution. I am the example.
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1st target reached 10850-60 Next if it sustains eye for 10920-30
It is not a myth but a fact: 90 to 95% fail in trading intra-day/Swing/Positional. Whether you graduate to that 5% or not, depends on your dedication, hard work, temperament etc. Trading is making small profits and small losses And occasionally hit that Big profit day. Never allow a big loss (5% of your trading capital) , cut your losses early (Not to pay MTM to avoid booking big loss). If you resist closing a small loss position, you would delay the closing the big loss and eventually you will be out with bigger loss.
Trade-aalia
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Superb analysis sir !!
As always !!
Thanx only to u n ur views ...I’m gaining back my confidence to earn !!
God bless u
Hi Mano, Thanks for sharing your views, BTW I was asking you if you could create a whatsapp or telegram group and add your followers and share your views would be great. As sometime It's hard to come to this webpage and view the comments during trading hours. It would be of a great help. Please think about it ! Thanks again !
Nifty_banknifty
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Your pridiction came absolutely correct . Congraz I HV visited tradingview first time and saw your post just now it's similar to market movement today I don't know how you analyse this so accurately . Hopefully your followers and viewers enjoyed good profit I am going to follow you from today. I HV invited lot of losses may be I could recover small amount back who knows . Thanks and God bless you for sharing with the forum members free . I wish all your followers best of luck for their trades.
manotrade28
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@Nifty_banknifty, Thank you, Surely you will become profitable but target daily profit 3-5k That is the key. No need to catch the whole movement, Just small and steady.
Nifty_banknifty
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@manoranjantrade28, thanks for your reply and nice views I am looking forward for your views for tomorrow and yes earlier I used to run for everything but failed to achieve anything now I will be happy with 2k daily