"This is my trading journal, not a trade recommendation.. Price must test the green median line
DISCLAIMER: Trading in the stocks market or futures markets is one of the riskiest forms of investments available in the financial markets and suitable for sophisticated individuals and institutions. The possibility exists that you could sustain a substantial loss of funds and therefore you should not invest money that you cannot afford to lose. Nothing in this analysis is a recommendation to buy or sell stocks or futures and I shall not be liable for any loss or damage, including without limitation, any loss of profit, which may arise directly or indirectly from the use of this analysis or reliance on such information. Consult your financial advisor prior to investing is stock market.
This is one person’s experience, your experience may differ. Past perfomance is not gaurantee of future gains.
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Green median has been overlapped by red median live of pitchfork. For helping everyone to understand I am sharing the link of chart for coping and use for everyone.
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So, it is done
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Action and reaction...Newtons third law...Did you paid heed to this in school?
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Next target is red median line.
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IS IT GOING TOWARDS C ?
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Bank Nifty is telling another story.
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Time for reversal -
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PRICES JUST ABOVE ENERGY POINT.
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Popgun reversal from energy point. Action Reaction lines shifting. Equal offset sliding parallel are now action reaction line. Immidiate high probability target identified.
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Shifting lines
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A BREAK BELOW SLIDING PARALLEL WOULD BE OMINOUS. INITIATE LONG WHEN PRICES RETEST MEDIAN LINE WITH STOP LOSS BELOW SLIDING PARALLEL
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IF ZOOM PASS THROUGH IT, INITIATE SHORT AT RETEST.
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TARGET 1 DONE
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PRICES TAKING RESISTANCE FROM SLIDING PARALLEL DRAWING ON 27TH SEPT'2020.
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IF PRICE REVERSE FROM SLIDING PARALLEL (PROBABILITY IS HIGH, BASED ON ACTION REACTION CONCEPT), THEN PRICES ARE INVITING HAGOPIAN TO COME INTO PLAY (BASED ON LAST MAJOR REACTION SWING PITCHFORK). THAT TIS MAYHEM IN MARKET. GOD SAVE ..!!
MOREOVER V TYPE OF TRADE IS ALSO COMING INTO PICTURE. IT WOULD BE BATTER IF THIS V SHAPE TRADE COME AT RED MEDIAN LINE.
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STORY OF GOLD IS ABOUT TO REPEAT?
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Peicces conserving energy in the form of a Energy coil. Expension is coming.
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PRICE BEHAVOUR CHANGED
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FUTURE UPDATES IN WHERE ARE THE DRAGONS? IDEA LINK
If price slides back to median line, probably market could make another try to touch the reaction line... but if market opens gap up might test the reaction line and then slide back to median line?
Either way I closed my long positions today after nifty failed to cross 11305 again
AniketKabir
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@zeeshanshadab, great choice. you can always enter the market. first thing is protect the capital. let market commit to you, prior to you commit to market. As per my analysis, reaction line has shifted to sliding parallel.
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@zeeshanshadab, Like this? chances are less. reaction line has shifted. Anyway, et us watch and learn.
zeeshanshadab
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market dint touch the lower parallel, still it could go to median line from here itself?
AniketKabir
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@zeeshanshadab, median line is natural slope of price, prices may move along them prior to decide to move towards upper or lower parallel. There is 43% probability of price to more in either direction. 3% it may move along red median line.
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Where do you think the B wave will complete? 11000 or might go lower to 10900?
AniketKabir
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@zeeshanshadab, lower parallel of pitchfork is down sloping, hence follow the price till lower parallel which happens to be our action line
AniketKabir
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@zeeshanshadab, B is not wave but swing leg's end point . If major swing repeats then, our critical swing low 11111
Will be breached, hence it is prudent to follow pitchfork lines, I am not a proponent of horizontal support and resistance lines to determine targets. Yes they provide good entry point but exit is by pitchfork lines only.
AniketKabir
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@zeeshanshadab, major reaction leg B has formed. Now market is reversing, without touching lower parallel. Interesting... Let us watch and learn.
zeeshanshadab
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@sandeepkumarmeenagreaternoida, is there any probability market could come back to 10k levels after completing its reaction leg till 11200?
Either way I closed my long positions today after nifty failed to cross 11305 again