Master one trick only

[Biswajit Das]

SL triggered....

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[Biswajit Das]

I have no 3 min chart facility, so using 5 min chart.avny, Is it effective ?

 

[akrsrivastava]

Dear AK,
1: when price reached at candle 4,i was
waiting to see price reach at lower range
of 1st cadle,and form some setup,to take entry
but pice made a pin bar and it was in the
area of previous swing high,indicating a
price rejection at this level,entry could have been
taken below this pin bar,but i did'nt,the reason is
i was expecting the price to go up.but
when price again came to same level at point 5
with 2 pin bar,i could not resist my self.

2:now what is the cofusion in candle 6,it
gone above the lower range of 1st candle and
closed below,hence BOF

hope it is clear now

thanks

Shouldnt 6 be a BPB instead of BOF? It was outside the range of the first minute candle, went inside and then closed below it. I am trying to get my understanding correct.

 

[avny]

I have no 3 min chart facility, so using 5 min chart.avny, Is it effective ?

yes ,it works on all timeframe

 

[avny]

Shouldnt 6 be a BPB instead of BOF? It was outside the range of the first minute candle, went inside and then closed below it. I am trying to get my understanding correct.

dear AK
for a pull back,you must consider that how much distance price has covered,after B/OUT,
for a pull back set up,the distance(movt of price after B/O)should not be more,if it is more than we treat it as ,simply,price is approaching the S/R line and will wait for a setup to form
in above EX,price has travelled >40 points,before comming back to resistence line,so i wont consider it a pull back,and wait for fresh setup to form around this line

thanks

 

[avny]

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good going:clap::clap:

keep:clap: looking for setups

keep practicing

keep learning

all the best

 

[avny]

Market Context(copy,paste from net)

Context is one of the most important things to understand as a trader. Appreciating the context of the market can help you select the correct setup and more importantly can help you avoid selecting an unsuitable setup. Understanding context is one of those things that comes with time as a trader increases his screen time and expertise on that market. It is impossible to turn context into an actual science, there are literally unlimited variables that need to be taken into account when understanding context. Market behaviour changes regularly, and what was “normal” last week can become obsolete the next. However appreciating the major factors that affect context can give you a significant head start. Some key variables to take into account when appreciating context:

? Pre market action
? Recent or scheduled news
? Recent trend
? Expected and current range
? Expected and current volume
? Yesterday’s action
? Position relative to today’s open
? Position relative to key levels
? Footprint of the day and past few days
? High and low levels
? How much time spent at levels
? How many touches of a level
? Current pace of the market
? Time of day
? Any in focus catalysts (eg oil price, dollar, financials, specific news)

These are just some of the things to look at before firstly defining the type of day and then judging if the setup you are planning to execute is still valid. How much weight you put on context depends on the setup. With certain setups it will be absolutely crucial that key variables are in place before even considering the trade. For example you would not take a counter trend trade against a low level support area if some unexpected data has just been announced.

 

[neuron_sun]

NIFTY FUT 3 MIN TODAY

Hi AVNY

What is the second dotted line, one is for 5900 , what is the other line for , is it some S/R?

Thanks

 

[neuron_sun]

Hi AVNY

What is the second dotted line, one is for 5900 , what is the other line for , is it some S/R?

Thanks

Hi

Is it for pivot high which led to lowest low and above this trend will change to uptrend.

Thanks

 

[Aarav11]

By back test I did mean manual back test, not a coded run.

Hi sumosanammain,

If possible, can you post the 3 min charts of 2010 which you feel will fail AVNY Strategy. I am not doubting AVNY strategy but just want to take a look at the charts which sumosanammain is claiming will be hard to trade using this strategy.

Please do post some of the charts.