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Guide to use of Fibonacci Tool - Part 1Fibonacci is most important tool for Price Action analyst. Often people get confused in using this powerful tool therefore below is guide on how to apply Fibonacci correctly on charts. In the chart, I have explained 3 use cases of uptrend, downtrend & Intraday scalping using Fibonacci. Use Case 1 - Uptrend Stock/Index is in uptrend when it is forming higher low & higher high. In such cases, Fibonacci can be applied by drawing it from a swing low & swing high & checking if following retracement is respecting any of the levels. If levels are respected to certain degree and stock is bouncing back, then there is possibility that it can reach extension level of 1.27 or 1.6. Chart given in this use case is VEDL and Fibonacci is applied in Daily time frame. Use Case 2 - Down trend Stock/Index is in downtrend when it is forming lower low & lower high. In such cases, Fibonacci can be applied by drawing it from a swing high & swing low & checking if following retracement is respecting any of the levels. If levels are respected to certain degree and stock is bouncing back, then there is possibility that it can reach extension level of 1.27 or 1.6. Chart given in this use case is NIFTY and Fibonacci is applied in Daily time frame. Use Case 3 - Intraday Scalping Fibonacci is can be power scalping tool specially in BANKNIFTY where it can be applied in lower time frames like 3/5 mins. If stock/index after an up-move or down-move is giving a retracement then we should apply Fibonacci using day start as starting point & day high/low as point 2. If retracement is following any Fibo levels (specially 0.61 or 0.38 for BANKNIFTY), then if it is able to break previous peak there is a possibility that it will reach next extension level i.e 1.27 or 1.6 Chart given in this use case is of BANKNIFTY and Fibonnaci is applied in 3 min time frame. Some Important Facts about Fibonacci 1. It has universal application i.e. it can be used for stock, index, crypto, commodity & forex. 2. Fibonacci works picture perfect in crypto. (tried & tested over hundreds of chart). 3. It can be applied in all time frames from 1 min scalping to 1 month chart. 4. Fibonacci should be used along with support & resistance analysis. As I use it as confirmation tool. 5. Retracement as show in all examples should follow fibonacci levels to good accuracy before we trade for extension levels. If levels are not respected, there is no point in trading/confirming based on it. 6. It looks complicated for beginners as they struggle to identify point 1 & 2 in real time but with practice it is easy to apply & bring great result. 7. I have shown only handful of levels to keep example clean. There are many other retracement & extension levels and each stock/index respect different levels. Hope this guide help in learning. Kindly try practicing it & share your questions in the post. Happy learning Thanks Piyush Gupta Learn & Earn
NSE:NIFTYLong
by study-learning-on-Price-Action
41
Strategy for Binary options 5-15 minutes My methodHello friends . I want to tell you in more detail about how the strategy works and what principle I work on . The trading system consists of three indicators, in the screenshot I marked the indicators with the numbers 1.2.3. Indicators help to see the moment of the price reversal and, therefore, the moment when it is best to open a position and, consequently, close it . I have been using this system for a long time to work on Binary options, the results are quite satisfactory to me . And so I want to tell you in more detail about the principle of operation of the trading system. Learn more about each indicator : 1. . Binary Options Pro Trade 1 The indicator shows the moment of overbought and oversold in the market as you can see in the screenshot, the signal is when the indicator forms red rays at the upper or lower border, thereby showing that the price will change its direction of movement in a short time or coordinate. 2. . Binary Options Pro Trade 2 The indicator is based on the stochastic oscillator and also helps to filter out false signals 3. Pro Trade 3 binary options are also an auxiliary tool and very well show the strength of the price and the moment when these forces end. How it works; if you look at the screenshot, you will see green and red stripes, a signal to enter a trade (opening a position, for example, to buy) is when the red stripes went beyond the lower red zone, and then began to lose their strength, become shorter and return back to the middle yellow zone, changing their color to green. accordingly, the reverse situation will be a signal to sell. The main thing to understand is that for a reliable signal, you need to wait for the conditions on the indicators marked in the screenshot with the numbers 1, 2 and 3, the timeframe that I recommend using for binary options is 5-15 minutes. The strategy can also be used on forex to work inside the day on the principle of scalping.
by Andreev_Mikhail
Nifty Trading Plan - 08th JulySummary l HTF is again is supply zone. DTF has a "WRC" candle, which infers "Positive" BIAS". l Pivot analysis infers TRADING RANGE DAY bias and due to overlapping wide range CPR. l 15916 to 15885 is a resistance level and any weakness at this zone should be a selling opportunity. l Support levels 15793/15735 l Resistance levels 15916/15879. l Market is moving in a very tight range and volatility is getting contracted every day, which infers there is huge move coming. l As long as price is above MPP, scalp for short positions. I am majority bullish from 2 weeks. Any selling is a short term move and should be used as an opportunity to scalp only. Start accumulating to go LONG from support zones. ********************************************************************************** Step 1 - Strategies to be deployed - l Open drive rejection. l PPT. l Evening star. l RCR l CPRRVL Step 2 - Trading Plan 1. Any bullish PA above 15850 is quick scalp with stop of 15831 and target of 15882 . 2. Any bullish PA above 15895 is long with stop of 15875 target of 15926. 3. Any bearish PA below 15920 is short with stop of 15941 and target of 15889. 4. Any bearish PA below 15837 is short with stop of 15856 and target of 15808. This information is for education purpose only. So, please consult your financial advisor for any investment/trading advise. Have a nice day!! @Sacredmonkey
NSE:NIFTYLong
by FoxstoxWealth
2
NIFTY INDEX PRICE ACTION EXPECTED FOR THE DAYINDEX SUMMARY -THREE TARGET IN POSITIONAL INDEX FUTURES TRADE HAVE BEEN HIT -AS EXPECTECD WE GOT TO OUR EXPECTED LEVELS SOONER THAN WE HAD THOUGHT -BUT THAT IS JUST THE WAY MARKET WORKS IT DOES NOT MATTER HOW FAST THE MARKET IS OR SLOW -I STARTED A NEW SEGMENT SCALP TRADE WITH DASH LEVELS WHICH WORKED PERFECTLY FOR BANKNIFTY AND NIFTY INDEX LEVELS YESTERDAY -A QUICK INTRADAY SCALP OF 35 POINTS ON THE NIFTY INDEX -COMING BACK TO THE MARKETS LET BE PRATICAL AND GO BY THE LEVELS -WE HAVE TWO GAPS -PRICE ACTION OF THOSE GAP SUGGEST HIGH-HIGH AND HIGHER-LOW FORMATION FOR PAST TWO DAYS -IF MARKET DOES IT AGAIN TODAY THEN ITS "A BREAK-AWAY GAP" -WE EXACTLY CLOSED NEAR THE CRUCIAL RESISTANCE LEVEL GIVEN @11240 -NOW IF INDEX STARTS TO TRADE ABOVE 11270 WE WILL HAVE A DASH TRADE AGAIN -WHAT IS THE GLOBAL MARKETS INDICATING? -USA MARKETS ARE TRYING TO CAPTURE AND TRADE ABOVE THEIR 20-EMA AND BY THE LOOKS OVERNIGHT THEY ARE DOING IT -WE ARE ALSO VERY CLOSE TO OUR 20-EMA AND WE NEED TO SUSTAIN ABOVE IT TO BRING A CHANGE IN SENTIMENT FOR THE MARKET -I EXPECT HEAVY RESISTANCE IN THE ZONE OF 11295-11300/11318-11322/11360 -IF MARKET TAKES OUT 11360 WE WILL SEE A DASH AGAIN -DON'T OVER DUE THE TRADE BOOK PROFITS AT INTERVALS -WE HAVE ALREADY MADE 300 POINTS ON THE INDEX SINCE TAKING THE TRADE -INDEX OPTION TRADE WE ARE IN PROFITS OF MARKET THAN 100++ POINTS -SO AVOID FRESH LONGS TOMORROW MORNING UNLESS DASH LEVELS ARE TRIGGERED SCALP TRADE WITH DASH LEVELS BULL SCENARIO -IF MARKET CROSSES ABOVE 11270 NIFTY FUTURES TRADE BUY@11272 STOP@11242 TARGET@11298-11302 QTY=300 -IF MARKET CROSSES ABOVE 11320 NIFTY FUTURES TRADE BUY@11320-323 STOP@11293 TARGET@11353 QTY=300 BEAR SCENARIO -IF INDEX FALLS BELOW 11220 NIFTY FUTURES TRADE SHORT@11220 STOP@11245 TARGET@11190 QTY=300 RESISTANCE FOR THE DAY (FUT) 11270-11318-11355 SUPPORT FOR THE DAY (FUT) 11190-11155-11120 SCREENSHOT !!PLEASE NOTE THE ABOVE INFORMATION IS FOR KNOWLEDGE ONLY!! !!TRADE ACCORDING TO YOUR RISK PROFILE!! !!HAPPY TRADING!! !!PLEASE LEAVE LIKE!! !!FEEL FREE TO CLEAR DOUBT IN THE COMMENT SECTION!!
NSE:NIFTY1!
by manavtechresearch
NIFTY TRADE SETUP FOR MONDAYNIFTY TRADE SET UP everyone is bearish on nifty but as we have seen market has been eating all the movement by giving gap up or gap down opening. i will have a slightly different approach in the market. 1. if the market opens gap down I will sell the put option around 11260-11236 sl 11180 .and sell call option on reversal around 11305 - 11330.sl 11370. 2. if the market opens flat then have a simple strategy will sell call below 11305 and will sell put above 11460. SGX nifty suggests the market will open the gap down. we have seen in the past after a huge gap down the market did not give momentum. so in that scenario, i will not trade for bigger profit instead i will prefer scalping. trade with half the quantity and sl will be very small. till market sustain below 11505 my view will bearish , will sell on the rise
NSE:NIFTYShort
by ASHWINIKUMAR2101
1