Daily charts:
- trend is up on daily charts (mentioned clearly buy signals will fail)
- trailing SL is at 9000 (reversal 8050)
- today nifty opened gap down and closed 6% in negative at 9293
- AD was 2:7
- VIX now at 44... up 29%
- "island reversal" pattern formed today
- this requires 3 candlesticks to form
- Thursday gap was a trap and many people got trapped
Now what???
- if you are a price action trader, you will be short from Thursday or today
- a big move in opposite direction usually indicates start of new trend
- if you are a trend follower, you will be having your own reversal level/ stoploss
- for most people, this would be around 9000 levels
- here I am referring to daily charts
- it is normal for signals to fail or SL to get hit
- it is wrong not to have an exit strategy or SL
- I have clearly indicated in my posts that buy signals will fail
- in trend following, after a big move, the next signal usually fails... this is normal
- rising wedge pattern valid?
- if yes, retest of 7500 is possible
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhsNOIjU3bqpQgnDgYBHw9rqVVJVBG2QYPI-_NIV2ZdBM4jFuF-MhTLHk47Uq_F4LdDNiCN9m9wXbWqz44O4S6qquQl7AbgySSNqahegOEFHBkaLAdJNEevk6tOQt3qvPza9dqABZrSH43x/s640/a.png)
5 min charts:
- traded short as per first arrow
- covered around 9330 F
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiR5tGb4kQBKU2GxesO7-zN4O_NNI__Ag13S61XvlpNlFA3U1BCb7Mr6ODBKCow7KDw5A3P7MkBm_oCfkVIVh21AK0TS2BFmeAh4PC2duhQfHxyTjjRBELElwfxGdHvISw27xrVYyM6JSP9/s640/a.png)
15 min charts:
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjUeatgfu1e-l5WRKpIf46Qd154zsjuD65KoXCdXQlV4UZBNCYd2T1g9TMnqi7DQAwru0U8wwRl4hqSU8yfM7PI3V1U6gMCr9PYpS-dvMGQSI-yn8RZVCjVvGHt163yHQYMnOaZ4oThkUW6/s640/a.png)
- trend is up on daily charts (mentioned clearly buy signals will fail)
- trailing SL is at 9000 (reversal 8050)
- today nifty opened gap down and closed 6% in negative at 9293
- AD was 2:7
- VIX now at 44... up 29%
- "island reversal" pattern formed today
- this requires 3 candlesticks to form
- Thursday gap was a trap and many people got trapped
Now what???
- if you are a price action trader, you will be short from Thursday or today
- a big move in opposite direction usually indicates start of new trend
- if you are a trend follower, you will be having your own reversal level/ stoploss
- for most people, this would be around 9000 levels
- here I am referring to daily charts
- it is normal for signals to fail or SL to get hit
- it is wrong not to have an exit strategy or SL
- I have clearly indicated in my posts that buy signals will fail
- in trend following, after a big move, the next signal usually fails... this is normal
- rising wedge pattern valid?
- if yes, retest of 7500 is possible
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhsNOIjU3bqpQgnDgYBHw9rqVVJVBG2QYPI-_NIV2ZdBM4jFuF-MhTLHk47Uq_F4LdDNiCN9m9wXbWqz44O4S6qquQl7AbgySSNqahegOEFHBkaLAdJNEevk6tOQt3qvPza9dqABZrSH43x/s640/a.png)
5 min charts:
- traded short as per first arrow
- covered around 9330 F
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiR5tGb4kQBKU2GxesO7-zN4O_NNI__Ag13S61XvlpNlFA3U1BCb7Mr6ODBKCow7KDw5A3P7MkBm_oCfkVIVh21AK0TS2BFmeAh4PC2duhQfHxyTjjRBELElwfxGdHvISw27xrVYyM6JSP9/s640/a.png)
15 min charts:
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjUeatgfu1e-l5WRKpIf46Qd154zsjuD65KoXCdXQlV4UZBNCYd2T1g9TMnqi7DQAwru0U8wwRl4hqSU8yfM7PI3V1U6gMCr9PYpS-dvMGQSI-yn8RZVCjVvGHt163yHQYMnOaZ4oThkUW6/s640/a.png)
No comments:
Post a Comment