TREND TRACKING SETUP!
BANKNIFTYHOW TO ENTER & EXIT?
LONG ENTRIES ONLY FOR THIS POST!
Conditions for Entry -
[30 MINUTE CHART]
A) WITH RESPECT TO MOVING AVERAGE -
When price is trading above the 200 ema HIGH - LOW channel
B) WITH RESPECT TO AREA -
* Price is trading at or in the are of value
* Area of value = Price between, below or at the 2 moving averages of the edler's fav indicator (13 & 26 period).
* The elder's fav indicator comes with 2 bands also which envelopes the crucial area which contains almost 95% of the price movements.
* We buy when price is trading on or below the area of value and the price is also trading above the 200 period moving average H-L channel
C) WITH RESPECT TO CANDLESTICK
* If the edler's fav indicator shows Black Candle (Red for default settings) going long is prohibited until it changes it's color to either blue or green
* If the edler's fav indicator shows White Candle (Green for default settings) going short is prohibited until it changes it's color to either blue or black.
* If the edler's fav indicator shows Blue Candle (Default settings) nothing is prohibited.
[MOVE TO 7 MINUTE CHART ONCE THE ABOVE 3 CONDITIONS APPROVES TO GO LONG]
* Price closes below the lower band of bollinger bands and then gives a closing inside it.
* Volume is also good.
* Stochastics also shows oversold.
* If there's a support of pivot points somewhat near the below of current candle, then it puts more odds into your favour i.e High probability of winning!
EXIT-
With respect your RISK REWARD!
OR
BANDS OF BB
OR
BANDS OF Elder's fav!
Thanks!
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