"This is my trading journal, not a trade recommendation. I Will be Posting and updating the ideas regularly, as market progresses, only for educational purposes for me and others who want to benifit from my experince.
Changing the previous short view into long based on below mentioned observations:
Prices are near to Apex of Arrow (triangle). if they reach till apex without breakout on either side then we can expect fizzle out of compression at Apex and around 3% up move can be seen. Moreover market is expressing its unwillingness to test the lower boundry of range to manifest sign of weakness. Moreover market had expressed change of behaviour when it broke out of a nine month old pitchfork drawn from march low (see old ideas for detail). It seems market is absorbing all the supply while staying at present level. i.e drawn new pitch fork. Will take long position when price touch the lower parallel of the latest pitchfork, with stop loss below last swing low."This is my trading journal, not a trade recommendation. I Will be Posting and updating the ideas regularly, as market progresses, only for educational purposes for me and others who want to benifit from my experince.
DISCLAIMER: Trading in the stocks market or futures markets is one of the riskiest forms of investments available in the financial markets and suitable for sophisticated individuals and institutions. The possibility exists that you could sustain a substantial loss of funds and therefore you should not invest money that you cannot afford to lose. Nothing in this analysis is a recommendation to buy or sell stocks or futures and I shall not be liable for any loss or damage, including without limitation, any loss of profit, which may arise directly or indirectly from the use of this analysis or reliance on such information. Consult your financial advisor prior to investing is stock market.
This is one person’s experience, your experience may differ. Past perfomance is not gaurantee of future gains.
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if last two candles are spring action..then we are are in reaccumulation phase.
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or, if weakness persists trade median line to lower parallel till GAP (sign of weakness)
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Not able to take decission yet... prices are at median line only..
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Frequent change of view is sign of FOMO
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rewards
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VIEW IN 75 MIN TIME FRAME IS BEST
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UT OR UTAD , it is SHORT till 312
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Market at critical juncture...if blue (thick) line is breached...may see more downward movement.
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Drawn a new demand line, taken long position, stop loss below 300 closing basis. are we still in phase B or it is C, next move will tell.
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read " up if in phase B else in phase D" MSOW in phase D: A pronounced break through the ice that will likely be followed by attempts to get back above it. A failure to get back above firm support may mean a "Drowning" for the market.
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Intejar..!!
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Comment: Looks it is going to consolidate b/w 325 and 310 in this expiry, prior to crashing through ICE.
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CRASHING THROUGH THE ICE
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COMPOSITE MAN is not bothered to hide his footprints now. Market has crashed the ICE and we are witnessing systematic selling in downsloping pitchfork. Test of ICE prior to DRAWNING in process. Shifting of upsloping blue line equidistantly downward to find the level from which possible pullback can be identified. Short at touch of upper blue line till lower blue line.
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Short opportunity keeping Stop Loss as ICE, downward journey begines:
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Short Idea supported by formation of Hagopian in upsloping pitchfork.
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Downward journey begines
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SHORT AGAIN WITH STOP LOSS FEW POINTS ABOVE HORIZONTAL LINE DRAWN FROM SOW (302)
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Revised understanding..ICE idea gone into winds. Everything happening at below average volume.
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April series 460 target as per pivot of reaction line 3. let us see..!!
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Will Initiate long for upper targets considering stop loss of 412
Trade closed manually
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Idea Collapsed. Needs revised understanding after seeing volume of next few days.
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shortning of thrust in systematic selling phase. time to go long with stoploss.
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This will be a very aggressive entry, will keep 20 point stop loss.
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Jump across the creek. Will add more if pullback to lower parallel of channel.
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It's safe to initiate long at 307. Keeping stop loss below 300.
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Wyckoff's story of a Boy Scout and jump across the creek.
Is it not how market traps retailers showing willingness to go up rejecting to visit lower price range appear too strong trap longs and suddenly fall?
AniketKabir
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@ark4048, yes, this possibility can not be ruled out...hence we keep stop loss. Position sizing , risk management etc are not jargons, but rules to follow, come whatever may. Market traps shorts also in same way. Hence take entry after seeing price action.
ark4048
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@sandeepkumarmeenagreaternoida, True! Market traps both shorts and longs but usually one at a time ( except on extremely high volatile days ).I guess at this point of time in Tata motors longs are trapped for this expiry though not yet confirmed.