COMPARING MY YESTERDAY STATEMENTS WITH REAL MOVE IN BNF TODAY. 1. In trading plan first point is quoting for your consideration " i made a pink color channel to show first sign of weakness price has to take this channel out then second sign a yellow color dotted line which price has to take out in 15 min time frame. if these two conditions are satisfied then price can go to green and pink lower zone." . You can see every word of statement is manifested exactly same by price. One of my followers wrote in comment box."i took 2 lot 21500 put @137 and sold it at 237 when bnf reached 21530... made 4k profit. Sir when conditions are cleared...trade is stress free under your guidance." . You can see how a learner in initial stage of learning this art writes 15 min condition fulfilled and trade became stress free. This is my mission that I could make trading easy for every person in this country. They just have to put their hard work to learn under my guidance. People demand hefty fees for education but I want your hard work for yourself only. That is what I want from all of you. GIVE ME HARD WORK ,I WILL PROVIDE THIS ART TO UPLIFT YOUR EARNINGS. There are many comments in yesterday post but like to share one , I received in morning which is written for you all by a unsuccessful trader with id of pulavarthyudya , read it you will see the real picture of this society. 2. In fig I made a circle in white which shows a hanging man. When In first hr I saw this I became clear that I had to enter in short side. Reason this is very bearish signal when appeared on tough resistance which I shared 10 days back in blue zone. The upper end was the area which gave me this imformation.I did not wait for its activation and took shorts with the sl of hanging man high. And result is in front of you. Why I did not wait for its activation because yesterday I shared is quoting "five hrs was good time to start correction " . You can see I was expecting this move and when I got sign . I entered into trade. But for you guys I do not suggest to copy me , because I have luxury of my experience . You have to follow activation of pattern. 3. See yellow color dotted line It worked so perfectly that 1 hr price was supported up. And see Red circle which shows the green support which I did not extend and gave you pink dotted line price took exact support on that. This is called perfection of levels shared every day to make your trading easy. Trading plan of next day. 1. bnf has fulfilled my two conditions of weakness shared yesterday . So I assume correction has started But see a upper green small line if this line is taken out in 1 hr time frame only then up trend will resume other wise down trend will confirm. 2. On the contrary if pink dotted line and pink solid zone is taken out in 30 min time frame then down trend will confirm. Both arrow showing trend when taken out is confirmed. Today was simple down trend day but tomorrow can be volatile range bound day giving opportunity both sides. 3. Green zone down is target of this down movement. In coming days price can visit this box. Rest market will decide. YOGESH VATS Note :- All trading positions can only be taken when you consult your financial planner. I share my views for educational purpose only.
I am also new to chart learning but under the guidance of sir I have learnt few things.that I going to share with you.
See your main question is related to different time frames of chart analysis.
Time frame is a duration that we select for studying price behaviour of a scrip. There are many times frames like 1 minutes, 5 minutes,10 minutes, 15 minutes, 30 minutes, 1 hour, two hours ,daily WTC. You can check them in you chart.
These time frames are important to recognising price movements during intraday, short term and long terms.
As we trade mostly intraday we must focus on one hour candlestick and fifteen minutes candlestick. Sir say 1 hour is used for directions and 15 minutes for deciding entry and exit decision.
Now your second query as regards being 'taken out' and 'breach' it means that price should stay above important level indicated by respected sir as green line or pink line whatever it is for a duration of 15 minutes or 1 hour. We can say 15 minutes or 1 hour candlestick should form above or below important level. If buying above upper line and if shorting below downline.
It's not about first hour or last hour of trading rather that particular point of time when you want to confirm your decision with conditions.
Suppose if you want to buy and waiting for the condition of crossing a important line above, then the the entire candle of 15 minutes or 1 hour must be above the line this is called taken out. But if price crosses the level then come back , then it's called level breached.
Hope I could explain.
Thanks Yogesh sir .... It's a sort of exam for me. Please correct me if I am wrong
Haasg
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@sharmaumesh1967, Thank you for such lucid explanation, I understood clearly.
"there is little correction in taken out one hr candle should remain above that level but also next candle close should be above previous candle then taken out will complete. Reply him with his correction."
Raahuls
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@sharmaumesh1967, Thankyou so much Umesh for the explanation and I'm happy to be on same track.
yvatsji
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@sharmaumesh1967, there is little correction in taken out one hr candle should remain above that level but also next candle close should be above previous candle then taken out will complete. Reply him with his correction.
@sharmaumesh1967, got the concept. Now i am also beginner like you sill going through 1st steve nison book, so cannot go for intra day trading as i am not ready yet.Could you tell me which time frames to select for a stock for positional trades for a duration of 1 week. your kind help appreciated.Thank you
sharmaumesh1967
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@jitmanyuone, Vats sir recommends 15 minutes and 1 hour four intraday trades and longer duration like daily for positional trades.
@yvatsji , Sir today, there were 3 15 min candles below 21262 which is pink solid line, one 30 min candle below pink solid line. After this 30 min candle, next 15 min candle took all the SL and touch the today high. So fast movement, i haven't see it before. Need learning around it. Please share your inputs in today post.
I am also new to chart learning but under the guidance of sir I have learnt few things.that I going to share with you.
See your main question is related to different time frames of chart analysis.
Time frame is a duration that we select for studying price behaviour of a scrip. There are many times frames like 1 minutes, 5 minutes,10 minutes, 15 minutes, 30 minutes, 1 hour, two hours ,daily WTC. You can check them in you chart.
These time frames are important to recognising price movements during intraday, short term and long terms.
As we trade mostly intraday we must focus on one hour candlestick and fifteen minutes candlestick. Sir say 1 hour is used for directions and 15 minutes for deciding entry and exit decision.
Now your second query as regards being 'taken out' and 'breach' it means that price should stay above important level indicated by respected sir as green line or pink line whatever it is for a duration of 15 minutes or 1 hour. We can say 15 minutes or 1 hour candlestick should form above or below important level. If buying above upper line and if shorting below downline.
It's not about first hour or last hour of trading rather that particular point of time when you want to confirm your decision with conditions.
Suppose if you want to buy and waiting for the condition of crossing a important line above, then the the entire candle of 15 minutes or 1 hour must be above the line this is called taken out. But if price crosses the level then come back , then it's called level breached.
Hope I could explain.
Thanks Yogesh sir .... It's a sort of exam for me. Please correct me if I am wrong