Intraday
Intraday Trading Strategy using 200MA and 8MA. (HEROMOTOCO)Strategy explained in detail on the chart.
INTRADAY TRADING PSYCHOLOGY (near LONG TERM SUPPORT/RESISTANCE)I come across many times when people fall in trap when they see breaking of long term support or resistance in intraday by merely seeing on small timeframe (TF) like (1-5 mins).
I suggest those friends to wait for the confirmation of such breakout on higher timeframe like 15-30 minutes atleast.
In this example I would like to make you understand this psychology and how you can make most of it in intraday trading.
Bharatforge started falling right from the beginning and broke its long term support at smaller TF and you can see how they trapped the bears.
(You can see many examples like this on this day like which I traded in PEL (Horizontal support 1300) and BPCL (Trendline support) We could have initiated a countertrend trading when it came above the support but that I will not recommend if you are not pro.
Instead, bharatforge formed a beautiful double bottom at this support (bullish piercing candle pattern as well). So, this trade becomes high probable with first target to swing high. SL to be maintained below the support.
So, in intraday FIND SUPPORT / RESISTANCE and FIND PATTERN. This way you can make consistence profit.
Thank You. Happy Trading
Intraday Triangle Breakout on BankNiftyExample of a bullish symmetric triangle breakout on BankNifty as observed on the 15 min charts.
As the price moves between the converging trendlines, the point closest to the tip of the triangle, presents a good entry point to go long. The stop loss for the trade was the previous swing low and the target was the day's high. Giving a good 80-90 point profit, with a risk of only 30 points. 3:1 RR ratio.
COALINDIA - AMAZING BREAKOUT #INTRADAYLast week, I had posted charts of COALINDIA forming a descending channel and also predicted a breakout in the coming days.
Here it is, this may not be like a 5-10% trade or something. But a 2% is enough for intraday.
The trade involved no risk and very easy to spot as the volume rocket from 100k to 2.9M as the breakout happened.
This was to show the power of PRICE ACTION TRADING .
And people looking for SWING oppurtunity can zoom out the chart and see a trend line @ 141 which can be set as target.
Entry - After a clear trend after retracement
Exit - Trend line @ 141
Stop - 129 (or according to your risk profile)
Thank You
Have a nice day!!
Trading is a skill not your Luck!Congrats to everyone who have studied my BIOCON pattern took the breakout entry and captured a huge move in intraday
People who have just watched it and learnt from it is also appreciating
This is the power of Price Action
If you are learning from my ideas and getting any benefit from it please like my ideas its a motivation for me.
ITC: TARGET ACHIEVED!!sorry for uploading one day late!! but yeah those who followed were profitable!!
How DLF gave me a Safe Entry with good R:RAlways have a zoom out look on the charts
and the patterns also became worthy at the perfect place not everywhere!
And if your analysis is right and its giving you good profit you can hold a bit more!
Price Action And Blast...!!!Reliance was in range so i created a channel and reliance followed that channel for long time.
When the first green candle broke-out it was the to enter and grab easy 1-2 %.
a simple price action strategy and breakout strategy will be enough for you to make money.
Profit in BPCLHey Guys
If you have watched my BPCL trend analysis!
This is just the outcome!
Hope if you have made some handsome profit!
Stay connected by following and message me if need any help!
Bank Nifty: I will only focus on my trade plan21300-21850 is a major supply zone in Hourly, Weekly, and Monthly chart. On the downside support @ 20450 and demand zones @ 19700-19800 and 19100-19250.
As expected Bank Nifty will open gap down and I don't know how many points it will open in negative. After a gap down it may bounce or it may go down further. I am not that much smart. So I will focus on the screen, not on my emotions.
I will sell OTM calls. I will decide the time and strick price once the market will open. According to these zones if I will get a good risk to reward trade and if there will be any possibility for the follow through on the downside then I may take a short position in FUT. I will update my trade in this post.
Thank x
Pre-Market Routine - NIFTY - Demand and Supply Zone
Last week's short term intraday strong demand zone was @ 8650-8850. Now it is shifted to 8850-9100.
On the upper side 9360-9500 is a supply zone and 9675-9820 is a major supply zone on a short term time frame.
According to the option OI data max call writes are @ 9500 and max ut writers @ 9000.
According to the data and supply and demand zone 8850-9100 is a strong support zone and I am not expecting this week to expiry below 9000.
I believe that there are major supply zones on a higher time frame and Nifty may face some difficulty to sustain above that level and may not get a follow-through in intraday trade. So I will go with OTM option writing instead of Fut buying.
New Update in Bank NiftyAs I mentioned my yesterday post that, I will sell BNF 31300-350 zone or 31450-550 zone or sustain below 30900 but today trading range was narrow and near minor support zone. So today was a trade free day for me in BNF.
Today One thing changed that it has broke its previous bottom @ 30900 and mane a new low @ 30862.
Now very strong support zone @ 30500 on daily as well as weekly.
There is a gap @ 30800-30860. So in coming day BNF will fill this gap.
My scene is that in higher time frem BNF is in oversold position so may be it will be sideways or sideways to positive for sometime but remember bhav bhagwan che.
My Trading Plan:
If it will sustain below 30900 then I will take a short position
I will take a short position if it will test 31300-350 or 31450-550 and not able to sustain above this zone.
Thank x
Tread Well.
No Update in NIFTYHello,
As i mentioned in my yesterday post that I will sell Nifty if it will sustain below 12225. Today Sold 12300 and 12250 call as per my plan.
I have also mentioned in the comment that there Nifty will fill the gap between 12130-12030 in coming days and it should make new bottom above 11930 or 12000-12050 zone.
Short Term View is: 12300 is a Very Strong Supply Zone. 12000-12050 is strong demand zone. Still Nifty is bullish in higher time frem.
Intraday View: Minor Demand Zone @ 12160.
Strong Supply Zone @ 12200-12225
Very Strong Supply Zone @ 12300
Trading Plan for Tomorrow.
I will take a short position If Nifty will come to 12200-12225 and 12300.
I will take a short position If Nifty will sustain below 12160.
I will avoid to take a long position.
Thank x
Tread Well.
Nifty: Sideways ZonePlease see the demand and supply zones in the chart.
Plan A: I will go short one it will sustain below 12280
Plan B: I will go long one it will sustain above 12400
Plan C: Avoid trading in the 12300-12400 Zone
Trading Plan for Bank NiftyPlease see the demand and supply zone in the chart.
Plan A: I may short BNF if it will not sustain above 32120 or 32350 for the target of next demand zone.
Plan B: I will Buy BNF if it will sustain above 32350 for the target of next supply zone.
Nifty Trading PlanPlease find demand and supply zones in the chart
Plan A: If NF will sustain above 12200 then I may short 12100 or 12150 Put or may long Future for the target of next supply zones.
Plan B: If NF will sustain below 12200 then I will wait for 12150 or 12100 level. If it will come to these levels and sustain above this then I will take long position.
Plan C: Avoid Short
Trading Plan for Bank NiftyPlease find Support and Demand Zones in the chart.
Plan A: If it will hold it's demand zone: 31000 then I will short 31000 Put and if it will not able to sustain above 31500 then I will short 31500 call.
Plan B: If it will sustain below 31000 then I will short Fut for the target of 30800-30700.
JSW Steel Intraday Trade in AdvanceWeekly has a double bottom and a recent Higher High. But, predominantly, it's a Downtrend. There is a wide bearish RSI divergence too. Price is hovering at an important level.
In Daily, nothing is supporting. There is a break of Trendline, but not convincing.
75 min is interesting. There is Head and Shoulders pattern, EMA crossover and a clear candle rejecting the cross and pivot yesterday.
Today, if the price opens at the same level as yesterday's, I will look to go short with SL above the high of the previous day's candle in question. It would be an aggressive trade.
