Hi Traders, 1. On the 3rd of August 2020, I mentioned in my post of nifty wherein point no. 1 of the trade plan is quoting for your consideration. " I made a blue dotted line, if price opens gap down and takes the support of this line and gives close above the sky blue trendline then one should cover positional shorts. On the contrary, if the price opens gap up and sustains above sky blue line by giving close above it then no more shorting for time being." Here you can see I gave the condition of the gap down which did not happen next day trading session and price moving up. From that day this low was not even tested once and the price remained almost 18 days up. I clearly mentioned on the contrary condition that NO MORE SHORTING and see price did not fall from that blue trendline condition. When I write my conditions all are written with confidence after the activation, with very less chances to fail. More than 205+ post on record. Earlier I used to post every day but now I manifest complete moves in such a way that worked more than two weeks. See how?
2. In the current fig, I marked a green circle showing you resistance taken on the same level where I made resistance. similarly, a white color circle showing you the support of my choice of Ema that you will not get in any book. If you see maximum support on white color Ema and only one support on yellow ema. Both Emas along with support resistance worked so precisely that if anybody followed them properly would have been earners these days. I gave you one white support to see how precisely price took support breaching yellow Ema marked in the red circle. Nobody uses this combination of Ema except me and works well. In the setting chart below of the last post, you can compare all levels with current fig and see yourself how more than two weeks' price behaved around my levels so well.
Trade Plan for next session
1. My final target of the previous post was an upper white line where price made a zone with today trading. So that will be achieved in the coming sessions. See the red dotted line where the price is closed today. This line was earlier resistance now it will act as support so if the price in the next session does not take out in both time frames of 15 min and 1 hour then the white solid line and the white dotted line are the first targets.
2. On the contrary, If price takes out a red dotted line downside in both time frames then support white lines target. If price takes out this support line further down then uptrend will change into a downtrend for the coming days.
3. The yellow solid line will act as resistance if taken out in both time frames then the yellow dotted line will be the target. If the yellow solid line is not taken out then up trend can change to downtrend no more positional longs.
4. For new readers taken out condition is as follows:- 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.
Yogesh Vats
Disclaimer:- All trading positions should be taken from consulting your financial planner. This study is for educational purposes only.
Sir , there are & there will be people who will choose wrong words or criticize you , But please Do not disheartened by such people , pls go along the path you have chosen, its a noble work , we small traders needs you , whats more to say ? pls post your guidance on telegram also.
rbommi
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@bhamve, @yvatsji Agree with @bhamve ...ignore -ve people n comments..it bring down our positive energy ..by educating us u r helping us so much
harryreddy
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@6d03bccd3bdc43b68019f7e751d527, @yvatsji Full agree with the request. There is lot of people like me who are learning a lot from you and making some money in difficult times. Please dont get disheartened with comments. You know even Gods face criticism so please take it in the stride.
Prashantms
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Request you to kindly use A, B, C, D and or X Y Z for the lines, so every one is clear which line you are referring in your advice, especially to persons like me, who find it difficult to recognize the colours of the lines
Prashantms
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Thanks a lot
Jash_k
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Hello Sir, Took long Nifty CE 11700 at 10:25 when first hammer created at todays bottom (considering todays low SL Opening range breakout) confirmed by 2nd bullish body candle. Book 1500rs..I thought nifty might go high like Banknifty...But its consolidated somwhere in the target which you provided 11634.