This is a 30 min chart, Nifty' over sold in hourly chart c
an show some pull back to said resistance levels
Below 9130 today’s supports are 9120_ 9084
Note: Yesterday Nifty' not traded above 9160 level,
and i was expecting more down side, but it supported well at 9120.
Weekly above 9170 Nifty' Resistances will be 9200 & 9280
Weekly below 9130 Nifty' supports will be 9069 & 9020
an show some pull back to said resistance levels
Below 9130 today’s supports are 9120_ 9084
Note: Yesterday Nifty' not traded above 9160 level,
and i was expecting more down side, but it supported well at 9120.
Weekly above 9170 Nifty' Resistances will be 9200 & 9280
Weekly below 9130 Nifty' supports will be 9069 & 9020
Comment:
One of the best post i found, worth reading again, i feel it like m y words, so i am re posting it here. hope the author wont fight with me. :D
Comment:
the content did not appeared.
I will try again
I will try again
Comment:
Hi Friends,
I have left the above Nifty -0.13% chart without proper description on purpose. Just take a look at the chart, if you can understand why those lines are drawn, its fine. If you don't then also its perfectly fine. But whats not fine was,taking trade decisions without knowing what those lines where.Do you think complex systems are better than simple trading systems ? That is a myth that only complex trading systems make Money, No Not at all. Simpler the system, the easier it becomes to follow the plan with discipline.
Regarding above chart its just couple of Bull's (B) & Bears (B) Elliot Waves combined with Trendlines , there is nothing much and we use it for taking a trade decision, the area within curve mentions the Island reversal pattern. So its totally upto us to decide which B will win and determines the direction of Nifty -0.13% . But I believe, both B will be taking rest till the Fed meet gets over (Sep 20&21), for us it will be by Thursday (Sep22), till then Nifty -0.13% may range within support / resistance without proper direction and having some wild swings signalling false breakouts. Enough of explaining the above scenario I believe, bcos I planned this post to be more than normal analysis...
There are many authors in tradingview, using many strategies, so if you get confused or don't get the reason why the trade was taken in particular direction feel free to ask the authors of the post, Why & How ? Unless, you ask questions n learn, you can't learn completely, thats why comment sections are for, to discuss your views/opinions even if you are completely newbie trader. No one will make fun of you, if you feel that your question is simple or silly, Never mind just ask Me, I will clarify your doubts, I assure. See, I don't gain anything from this, its all for your benefit n to protect your hard earned Money.
...............................
Trade active: Always have answers for below questions before trading,
(i) Why I choose this scrip ?
(ii) Which direction I should trade ?
(iii) Whats the reason behind the trade ?
(iv) Where to Enter & where to Exit ? {You must know your Entry n Exit before taking any trade n Should never alter that plan }
(v) What is My Risk ? { How much I can lose is better question, than how much I stand to gain }
Unless you know answers for above questions,never trade. Authors will post ideas, so you will be spoilt for choices like that Kid, but you can't be sure what their plan or reason behind or how they manage the trade or even whether they really trade whatever is posted. So do your own analysis and if its synchronised with the post take it as additional point to validate your trade decision.
To Finish off, Don't Be the Kid at Candy Shop !
Feel free to leave your comments / opinions...
I have left the above Nifty -0.13% chart without proper description on purpose. Just take a look at the chart, if you can understand why those lines are drawn, its fine. If you don't then also its perfectly fine. But whats not fine was,taking trade decisions without knowing what those lines where.Do you think complex systems are better than simple trading systems ? That is a myth that only complex trading systems make Money, No Not at all. Simpler the system, the easier it becomes to follow the plan with discipline.
Regarding above chart its just couple of Bull's (B) & Bears (B) Elliot Waves combined with Trendlines , there is nothing much and we use it for taking a trade decision, the area within curve mentions the Island reversal pattern. So its totally upto us to decide which B will win and determines the direction of Nifty -0.13% . But I believe, both B will be taking rest till the Fed meet gets over (Sep 20&21), for us it will be by Thursday (Sep22), till then Nifty -0.13% may range within support / resistance without proper direction and having some wild swings signalling false breakouts. Enough of explaining the above scenario I believe, bcos I planned this post to be more than normal analysis...
There are many authors in tradingview, using many strategies, so if you get confused or don't get the reason why the trade was taken in particular direction feel free to ask the authors of the post, Why & How ? Unless, you ask questions n learn, you can't learn completely, thats why comment sections are for, to discuss your views/opinions even if you are completely newbie trader. No one will make fun of you, if you feel that your question is simple or silly, Never mind just ask Me, I will clarify your doubts, I assure. See, I don't gain anything from this, its all for your benefit n to protect your hard earned Money.
...............................
Trade active: Always have answers for below questions before trading,
(i) Why I choose this scrip ?
(ii) Which direction I should trade ?
(iii) Whats the reason behind the trade ?
(iv) Where to Enter & where to Exit ? {You must know your Entry n Exit before taking any trade n Should never alter that plan }
(v) What is My Risk ? { How much I can lose is better question, than how much I stand to gain }
Unless you know answers for above questions,never trade. Authors will post ideas, so you will be spoilt for choices like that Kid, but you can't be sure what their plan or reason behind or how they manage the trade or even whether they really trade whatever is posted. So do your own analysis and if its synchronised with the post take it as additional point to validate your trade decision.
To Finish off, Don't Be the Kid at Candy Shop !
Feel free to leave your comments / opinions...
Comment:
The trend line resistance worked well in nifty, with expected target,
where as on BANK nifty, it went along, more than an expected level.
where as on BANK nifty, it went along, more than an expected level.