1. On 14th of JULY 2020, I mentioned in point no.1 of trading plan section is quoting as proof of my statement consider the conviction of this point."One yellow line is made if this is taken out in 15 mins then the price will move to the white-green zone. Otherwise down move will continue to blue dotted line downside." Here you can see generally I mention two condition for taken out concept but this time I wrote only one condition of 15 min. And priced reached white green zone on July 15 . See the level of perfection could not take out price beyond that zone almost 2 hous after reaching that level. On same level in last hour you saw big candle. Why in every chart the levels I provide you react so accurately react, is matter of your thinking.
2. Next day July 16 , Since starting of session till end this shared zone three days back was not taken out . On July 17 price opened gap open and took rally from same zone. This is the level of manifestation of moves three days back. On 3rd hour of this day price taken out this zone and gave you rally to pink zone. For your consideration setting July 14 fig where pink line was alredy marked and you can see that level was acheived on third dayof trading. All levels shared and complete trade was manifested in well advance of these moves. Experienced analyst can not predict consistently all moves of market but here you get regular performance of this level. That is why I say BASIC KNOWLEDGE + MY ANALYSIS = PROFIT
3. There are good educational replies in every post comment box genuine seekers should see all of them. Setting last fig . to better understand compare with current fig. below.
Trading Plan Of Next Session.
1. The pink line condition of 1 hour is not satisfied by price so I will wait to see this condition activated only then I will go long with target of the blue dotted zone.
2. In any case If price open gap up near blue dotted line then see price action price, can come back to pink line. So I will not try to trade near blue dotted line till I get clarity.
3. If the market once completed taken out condition at pink line and reached to the blue dotted line and comes back to pink line and takes it out on 15 min time frame then I will leave my longs. The red arrow shows that condition. Green arrow shows the condition of taking out for pink line and target.
4. In any case, price takes out blue dotted line in both time frames then white line is my target. For new readers I write taken out condition so that they can understand what is meant by it 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.
The rest market will decide. But like to maintain my strike rate every time with great great confidence.
Disclaimer:- All trading positions should be taken from consulting your financial planner. This study is for educational purposes only.
Am I right sir ??