LET US FIND ENTRY IN NIFTY ON 4-4-20TRADING PLAN ON MONDAY
1. As in my previous post on nifty i shared how nifty is going trap bears for next week. Now on daily basis how trader will trade. Always remember without stop loss no trading can be done. Before entry one should know where to put sl in trading. As you know SGX nifty is down so get ready for gap down open. Now question arises at what level it will open. See for trading I always use 1 hr chart. I showed two brackets in green this stucture is re-distribution in one hr chart . This structure is incomplete to complete this I expect a pullback in nifty. That can go to white dotted line or can extend to midle of white dotted and pink dotted line. In any condition if it breached the pink dotted line then pullback will convert into down trend structure. Till the level of pullback i am bullish after pink dotted line i will be bearish and find sell set up. Always remenber stock market is the game of switching of sentiments with price structures made by market.
2. If on moday nifty fills the gaps seen in fig left side and stays there for 1 st hr then the structure shown in fig will be formed. Means a range bound stucture will be formed .one has to wait to see both ranges. I will time my trade at the upper end of range as it will work in both cases of pullback or converting into down fall. Always remenber for successful trade we need patience , direction & timing. if you learn structural trading all three will be acheived.
3. in any condition if market open near pink channel lower end then wait for price to stable then try to see buying setup. Opening gap up dowm , channel, support ,resistance, zones, structure, phase of move ,understanding of traps and psychological points are part of trading. One needs to sync these information with all mentioned aspects of trading then only fruitful trade is taken out. Please be noted that white structure shown in fig can take one to two days to complete.
4. All conditions mentioned in this article are so important for good trade. If any of the conditions is missed then trade will be painful. Trading is an art not science . It can only be adopted not learned. If you understand the coming trade with white structure shown in fig with my all mentioned condition even entry and exit will be comfortable. I trried to provide all imformation in simple langauge of trading. Rest depend on your caliber to understand this fig.
yogesh vats
