re: Day trading Nifty & Banknifty Futures
Hi
today I cant stop myself to post a chart of nifty future.as today was a big event day,& as we see the volatility gets high on those days..but I want to observe as our simple Price action method works on those days successfully or not as price behaves very erratic..
But todays price behaviour dekh kar samajh aaya ..ki price chahey kitney bhi nashey main ho, wo insanon ki tarah irrational nahi ho jatey..so today in chart nothing except price..so we will see that y greater calls price is god..
1) Price takes support at PDL..if you notice a hammer..& subquent candle in next 1 hour..price is telling that I am in no mood in going lower..but we have to see if it wants to go up..let it break pivot high & it breaks with a highly bullish candle..long
2)price breaks OR & day open ..but see how it breaks..Bo FAIL..but dont go for short..wait..see further pa..A strong bulllish ccandle..but see further PA..all subsequent candles fail to break that level significantly...Bulls are not able to break that fence forcefully..2-3 try..now bear comes out who are waiting on that level...they come with force...see their long red soldiers..which breaks PDL forcefully..now only HTF Support is able to stop them..they break that fence but BO failure.
3) Bo failure happens ..but we have to see subsequent PA..see the 2 bullish candle & compare it with down swing...kiska pala bhari hai..bulls are coming..bears are weakning..we will join winner parties..covered short..but for going long we should wait to show bulls more power..let them break a pivot high significantly..they break ..now see prices are not showing any weaknes..just put a sl & ride the rally...
4)near the level of 7730..a shooting star...higher prices are rejecting...& near resistance is 20 points away...first weakness is showing...u can short cover ..but no short..& trend is powerful..wait & see further PA..now see 3 next green candles..are they really powerful? ..bulls are there but weakning...spinning tops...bulls took 200 points ride easily..now only 20 points are difficult for them..they just touch 7750 level..but now no signs of bulls..price is weakning..bulls are trying..but I am not seeing any strength in them..by the time they are weakning..weakness ib bulls...we already have left their party....we will see the power of bears & will join them...bears show their power & break pivot low with full force...great fall..if u notice not a single bull soldier we can see in this fall except one weak green doji...
so conclusion is Price chahey kitney hi volatile ho...but vo irrational nahi hoty..& random bhi nahi hotey..vo roller coaster ride bhi karey to bhi apney dharam ka palan kartey hai..& they talk to us in their language of candles..but we just need ears to listen them...it requires a lot of practise ..diligent practise..
Disclaimer: I am not an experienced & profitable trader..Now I just trade on NSE pATHSHALA
thanks
Nice Explanation......You never looks you are in PATHSHALA
......You are in NSE University....:clapping:
Hi
today I cant stop myself to post a chart of nifty future.as today was a big event day,& as we see the volatility gets high on those days..but I want to observe as our simple Price action method works on those days successfully or not as price behaves very erratic..
But todays price behaviour dekh kar samajh aaya ..ki price chahey kitney bhi nashey main ho, wo insanon ki tarah irrational nahi ho jatey..so today in chart nothing except price..so we will see that y greater calls price is god..
1) Price takes support at PDL..if you notice a hammer..& subquent candle in next 1 hour..price is telling that I am in no mood in going lower..but we have to see if it wants to go up..let it break pivot high & it breaks with a highly bullish candle..long
2)price breaks OR & day open ..but see how it breaks..Bo FAIL..but dont go for short..wait..see further pa..A strong bulllish ccandle..but see further PA..all subsequent candles fail to break that level significantly...Bulls are not able to break that fence forcefully..2-3 try..now bear comes out who are waiting on that level...they come with force...see their long red soldiers..which breaks PDL forcefully..now only HTF Support is able to stop them..they break that fence but BO failure.
3) Bo failure happens ..but we have to see subsequent PA..see the 2 bullish candle & compare it with down swing...kiska pala bhari hai..bulls are coming..bears are weakning..we will join winner parties..covered short..but for going long we should wait to show bulls more power..let them break a pivot high significantly..they break ..now see prices are not showing any weaknes..just put a sl & ride the rally...
4)near the level of 7730..a shooting star...higher prices are rejecting...& near resistance is 20 points away...first weakness is showing...u can short cover ..but no short..& trend is powerful..wait & see further PA..now see 3 next green candles..are they really powerful? ..bulls are there but weakning...spinning tops...bulls took 200 points ride easily..now only 20 points are difficult for them..they just touch 7750 level..but now no signs of bulls..price is weakning..bulls are trying..but I am not seeing any strength in them..by the time they are weakning..weakness ib bulls...we already have left their party....we will see the power of bears & will join them...bears show their power & break pivot low with full force...great fall..if u notice not a single bull soldier we can see in this fall except one weak green doji...
so conclusion is Price chahey kitney hi volatile ho...but vo irrational nahi hoty..& random bhi nahi hotey..vo roller coaster ride bhi karey to bhi apney dharam ka palan kartey hai..& they talk to us in their language of candles..but we just need ears to listen them...it requires a lot of practise ..diligent practise..
Disclaimer: I am not an experienced & profitable trader..Now I just trade on NSE pATHSHALA
thanks
......You are in NSE University....:clapping:
