This will be my personal trade Setup, This is not an advice of any kind to initiate trade according to this setup.
Picture is worth a thousand Words as from the chart Bank Nifty is moving between 751 points from 11th May and if traded with patience and with proper trade setups one can make profits.
This will be my Trade Setup for Tomorrow:
From price action we can see price is moving in Horizontal Channel and Today it made lows and took support near same zone which is previously tested as long as price don't don't this zone we have to trade within this range of 770 points. Setup will be
1.) If it opens flat nearby support is 43633 if it sustains this support on 15 mins then will look for CE Buy for nearby resistance which is placed at 43756 and then 43830.
2.) If gap down will look for price to take support at same support zone where it took support today or it's same as Today's low. and will take CE Trade from that level.
3.) If opens gap up then i will look at resistance which is 43756 and 43830 then i will look for PE Trades for nearby support zone or CPR levels.
Views are on long trade if it respects this channel.
maybe we can see break above this channel on last monthly Expiry :)
Hit like to keep me motivated for keeping my trading journal also if you can help as Trading View is holding rewards if Ideas or Script can be listed in Editor Picks :) . also one can comment how i can make it better or any improvements i can make in my trading setups or improving this journal.
Picture is worth a thousand Words as from the chart Bank Nifty is moving between 751 points from 11th May and if traded with patience and with proper trade setups one can make profits.
This will be my Trade Setup for Tomorrow:
From price action we can see price is moving in Horizontal Channel and Today it made lows and took support near same zone which is previously tested as long as price don't don't this zone we have to trade within this range of 770 points. Setup will be
1.) If it opens flat nearby support is 43633 if it sustains this support on 15 mins then will look for CE Buy for nearby resistance which is placed at 43756 and then 43830.
2.) If gap down will look for price to take support at same support zone where it took support today or it's same as Today's low. and will take CE Trade from that level.
3.) If opens gap up then i will look at resistance which is 43756 and 43830 then i will look for PE Trades for nearby support zone or CPR levels.
Views are on long trade if it respects this channel.
maybe we can see break above this channel on last monthly Expiry :)
Hit like to keep me motivated for keeping my trading journal also if you can help as Trading View is holding rewards if Ideas or Script can be listed in Editor Picks :) . also one can comment how i can make it better or any improvements i can make in my trading setups or improving this journal.
Trade closed: target reached
Traded as per my setup and closed trade near resistance zone.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.