Nifty Futures Trading

[Czar]

darn missed the downside but had to go out so....

 

[learn2trade08]

czar....
i was there doing your job...now ur turn...

darn missed the downside but had to go out so....

 

[uasish]

So now we have 2 Price point in chart.

One 2858 - 2862.
Second 2893 - 2883.00

At the Risk of trying to analyse the left side looking at the Right side let me be honest & try to visualize what we should have done.
In 1 min chart we dont expect any Long or Short while scalping to get 50 or 100 points,a descent above 10-15 points multiple time is fair enough.

When that upsurge from 2858-2862 surpassed 2883-2893 our natural expection could be 2933-2936 (the known resistance point) but we found after 2907 the move was fizzling out.At live situation we could have thought a psychological 2900 level,hence some retracement is expected.
Then when the 2883 - 2893 was crossed downwards quite easily instantly we where alerted that Long is doubtfull.
Then we could have either shorted but frankly i would not have becoz 2853 was support,hence could have waited to see the Price's reaction at that level.
Here if we remember that 2849 was our identified Pivotal Low.
Now when 2853 breaks even 2849 so the uptrend was reversed as per our data.So we would now Short definitely but where,after watching the bounce upwards from 2840 we waited to see the pull back,interestingly it went to max to max 2884 so now we could short ,somewhere around 1.10 & our Stop would have been that 2907-2908.
Hope this clarifies how we can trade analyzing the footprints of Price.

 

[uasish]

Let us come directly to present situation.
We knew that now we have LH / LL status.
2775 - 2778 is giving support.
A pull back upto 2814 happened.
A retracement from 2814 has brought down Price to present 2787.
The retracement shows the immediate past up move do not have strenght.

 

[uasish]

Whole of our balance trading life we are to see this Wave like movement of Price in Intraday.Goes up & comes down.Price respects Support / Resistance points.

A good idea about Saint's Pivot methodology.
The key here is it's pullback / retracements.
Volume at key Price points.

 

[uasish]

Now we see that 2814 is surpassed & a sudden big volume bar,out of nowhere.

 

[uasish]

Well too much Gyan,stopping the comentary now.

 

[new2sm]

inv. h&s in FUT?

 

[uasish]

I am proved to be wrong again by Mkt. the upmove was genuine,the volumes later confirmed.

Resistance @ 2854

 

[uasish]

inv. h&s in FUT?

Looking at 'U' shape only ,i am weak in Patterns.