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Fibs

CONFLUENCE TRADING | YOUR KEY TO ACCURATE ENTRIES 🥇 If you are struggling with the identification of accurate trading entries, you definitely should try confluence zones . Note: there are hundreds of variations of confluence elements. In this example, we will discuss trend lines and Fibonacci. ❗️To identify a confluence zone, the price must follow a trend line (it should match higher lows if the market is bullish; it should match lower highs if the market is bearish). Once the trend line is confirmed by at least two touches and consequent reactions , you can look for a confluence zone. 1️⃣Project a trend line and identify the next POTENTIAL touchpoint of the market with a trend line. 2️⃣Take the last impulse in the direction of the trend. Draw a fib retracement based on it (swing low to swing high in case if the market is bullish, swing high to swing low in case if the market is bearish). 3️⃣Take the previous impulse (it must be in the same direction as the initial one). Draw a fib retracement based on it. 4️⃣Look for a match of retracement levels of the last two impulses and a projected trend line. In case if two retracement fib.levels & trend line match, you found a confluence point. 5️⃣ Apply it as a safe entry point. You will get a perfect trend following opportunity. ❤️ Please, support this idea with a like and comment! ❤️ ⬇️ Subscribe to my social networks! ⬇️
Education
by VasilyTrader
2
Nifty : Are we Right on Time ?!Certainly Not ! Because, usually I post out Nifty before 9.15 am & its not the same today. Not a prob, but are we right on Timing the Nifty to our expected zones ? Well, Nifty needs to tell Me that. Just based on few presumptive reasons, I ascertain Nifty will reach out to 9750's zone between May 31 - Jun 2 & I may be completely wrong. Honestly, in My opinion Timing the Markets don't even matter unless you trade options. If we don't see a close above 9580's 9600's , Mostly we will be retesting the 9500's zone before the further upmove towards 9750's. This can be used as positional setup but go as per the timeframe you use to trade, look out for possible trade-setups. What I have mentioned on the chart is an approx. idea of how you can go in, that doesn't mean - its perfect entry, that's just My Plan. In the same way, you will be having an idea based on timeframe you use or trading method. Let's see whether we are right on Time...
NSE:NIFTYLong
by InsiderB
10
Nifty : Never Leave Your Comfort ZoneContrary to popular belief - " Leave your comfort zone , Push yourselves hard to gain success " I would say better stay at comfort, Apparently I disagree with that line. That may help your career as per corporate motivational Guru's. But when it comes to trading , Doing what is comfortable & staying in that comfortable zone, makes you winner. Usually we are running around searching for the complex trade setups & trying to learn them, even if we have simple setups at hand, we tend to ignore that, reasoning out as " Naah...it wont work " & jumping from one to other. In trading, keeping things simple, quick to understand will give you the psychological comfort to trade that setup quite efficiently, even if that's 50-50 or lesser winning setup. Most frequent questions in aspiring traders mind - " How to choose stocks for the day ? there are 1000's available ". Kindly read My older post " Kid in Candy shop ", you will realize whats going wrong in trading psychology. The next one frequently bothering our mind - " Which trade setup works ? " Actually people spend more time on looking for various strategies to trade than real trading or practice. People tend to jump from simple moving averages to Pivots to something else then elliotts, Gann ,Harmonics, Quants, the list goes on & on making it more complex. But wait, lets stop our thought train for a moment & take a step back, Who said lagging indicators won't work ?! With properly chosen indicators & efficient implementation Moving average setups make money over time. Please realize that :) Realize the peace of mind you get if your strategy is simple. What is simple for someone will be hard for other, Some like Roti some like Biryani, Trading strategies also as simple as that. Choose what you are comfortable with, "So Better Don't Leave your comfort zone." Note : Just realized , I didn't explain about the charts, I got carried away :) We are looking for 2 things, A bull run till 9560's with partial profit booking & Next at 9700-9750's. This is one of the oldest setups I used to analyze, not using these days. As it flashed & related to the topic, I thought of explaining with My own trade setup itself (i.e) though I know, I don't use this frequently. That's what - " Never Leave your Comfort zone" & that doesn't mean you shouldn't learn new things or use them to analyze but when it comes to trading, Stay comfortable.
NSE:NIFTYLong
by InsiderB
16
Nifty : Fibbing with the Fibs !!!Look at the black trendline I have drawn, it's so steep almost like 80 or 85 degree. Very Bullish move without any retracements. By the way, I'm very curious and interested to know whether any Gann Guys predicted this steep move this week with time frame too ?, that would be superb prediction from Gann angle ! i) Clearly, another Bull Day expected as Nifty made New highs ii) Yesterday Crab legs extended up few more points iii) Very small pullback last session if Nifty face resistance at 9350-60's zone iv) I dont feel much resistance at 9330's, Only on very strong bear confirmation take shorts v) Its probably All Bull's Day...Lets watch !
NSE:NIFTYLong
by InsiderB
16
Axisbank - Can come down to 536 before A Bouncing BackThe price action shall come further down to 536 levels which is a 38.2 percent retracement level where a bounce in price action may be seen. If it does not retrace back at 38.2 levels then .50 levels can be seen at 500 price levels due to strong selling pressure. Key Takeaways: 1. Price action breaks out from the upward trendline, indicates change in trend. 2. Long Redcandlestick indicates strong selling and dominance of sellers. 3. Shall provide good opportunity to sell once retrace back to 575-600 levels.
BSE:AXISBANKShort
by NeeteshJain
3