AbhishekDoreswamyGowda

AbhishekDoreswamyGowda Updated 

Watch out for supply zone. Buy only above Day's High on Retest.( For Bullish) If Rejects form Supply Zone, Take positions on Retest.( For Bearish) Keep Targets Based on your Risk Appetite.

AbhishekDoreswamyGowda Updated 

Day started of with a bearish trend. But couldn't breakdown the previous swing Low. Trapped with Take Breakdown. Resistance was created on the upper side, In order to take entry we need price to break that level with impulse, such that we can take entry after retracement. 2 targets were set -- Day's high --Previous GAP Target 2 is pending and Trailed my SL to...

AbhishekDoreswamyGowda Updated 

Took a long Position Broke the support created, I think its a Fake Breakdown cuz its a retail Stop loss Candle. Bought @ Support so Stop loss will be minimum. Will Update the Trading Result.

AbhishekDoreswamyGowda Updated 

@ 10:00 AM Price Moved with Impulse Creating the supply zone. Waited for the price to come near the zone, as soon as price approaches this zone started reversing. %Took a short position @ rejection with the recent high as StopLoss. Target is kept near Today's Low. Trade is still Running.

AbhishekDoreswamyGowda

Market is opening after a long Off on Monday. There's a possibility of price to move move on either side. Price is @ important support. Price can reverse from 3 zones if market opens bearish. * After GAP filling * @ 37000 levels or * @ Previous Point of Break.(near 36500 levels) So, trade accordingly, watching the price carefully, cuz the price can reverse...

AbhishekDoreswamyGowda

BankNifty is Accumulating, It may be Buyers or Sellers. Expecting a big move on either side, If not Today watch out the range breakout/breakdown in next week. Be patient, Trade safely.

AbhishekDoreswamyGowda

Refer Smaller Time Frames. Formed a Triangle pattern. Broke out of triangle pattern and Important Resistance( Yesterday's Support) And it was Perfectly Placed @ 61% FIB. (FIB was drawn from yesterdays High to Todays Low) Once the retest is done and again broke the zone with impulse, here entered a long position.(11:26 Hrs) TWO Targets were set- 1st @...

AbhishekDoreswamyGowda

Refer 1 Minute chart for Better understanding. Market was very Bullish , after the price took Resistance, it retraced back to 61% FIB level. Accumulated, for a bit and Broke out.(13:00 Hrs Candle). We won't take a position here, as we want a retest or a small consolidation breakout.(In this case it was a consolidation Breakout) It gives us a better confirmation...

AbhishekDoreswamyGowda

Refer 1 Min Chart After Accumulating for a long time, created a small bearish pressure to trap the Retail traders. After the strong bullish candle, confirmed fake breakdown took all the StopLosses. You can enter immediately after the impulsive candle or can wait for retarcement for better confirmation. Bullish pressure was so high that it broke day's high in...

AbhishekDoreswamyGowda

Don't Overtrade, Do Trade when you get your setup right. Trade with the timeframe you can understand better. Refer Smaller frames for better understanding. Explained 1st trade ended in loss Next 2 trades were ended in profit 1st Trade: Target was set near yesterday's low, but the market reversed before that @ psychological level of 36000 2nd trade: As there...

AbhishekDoreswamyGowda

After Bearish Impulse, Market tried to recover but couldn't. After recovery run, formed a double top and broke the neckline. Took entry @ retest and rejection with very small SL. Refer 1 Min frame for Clear View.

AbhishekDoreswamyGowda

This Pattern is mostly Successful when there is strong Bullish move previously to an Important Resistance zone/ Supply zone. Once you find the price respecting the supply zone, wait for it to retest the zone to form a double top or a lower low.( in this case it formed a Double Top) If the price failed to break the upper zone, it'll create bearish impulse. You...

AbhishekDoreswamyGowda

Please do Refer Smaller Time frames for Better Understanding. (1 or 3 Min charts) After a bullish move, created a support and failed to form Higher high and created a neckline. @ 12:11 PM Broke down the neckline.(we'll enter only after retest) @ 12:24 to 12:26 PM, Formed a bullish Candles trapping the retail traders, and this candles didn't break the...

AbhishekDoreswamyGowda

How to Trade Simple Harmonic Pattern (Bullish) ? After a Bullish Impulsive move, first the price will retrace to 61% Fibonacci levels. Then it'll be rejected from 23% FIB levels to take support on 78% FIB levels. Then there'll be a small bullish impulse. Here, we can take entry after retest. For Better Understanding, Please do check on smaller TimeFrames (1Min/3Min)