Price action & key levels [Daily Primer 25.4/22]Hey Traders, a quick little video coming your way!
It is my 8 year anniversary with my wife, so I am rushing out of the door and cannot leave a detailed summary in text too.
The video goes over price action, key levels and some trades taken today on the DAX
Have a fab day and any questions are welcome!
TIPS
Leading Indicators Reversal Still BearishThe JNK ETF looks like it is heading further down still -> Bearish for equities.
The IWM ETF is likely to follow through after closing at a low -> Bearish for equities
The DJT ETF looks a tad bearish too -> Bearish for equities
The VALUG looking to fail support, with a bearish candle for more downside -> Bearish for equities
The TIPS ETF continue down draft-> Bearish for equities
The TLT ETF is still diving -> still not seeing any flight to safety.
The VIX just broke out above the trendline -> very Bearish for equities
The HG1! copper futures downtrending
Overall, rather Bearish bias on equities
Leading indicators are BearishVery quickly before the market opens...
The JNK ETF is heading further down for lower low -> Bearish for equities.
The IWM ETF is likely to follow down continuing the candle -> Bearish for equities
The DJT ETF broke support -> Bearish for equities
The VALUG failed the resistance, with a bearish candle for more downside -> Bearish for equities
The TIPS ETF gave up and gave way -> Bearish for equities
The TLT ETF is looking for a non-existent bottom -> no flight to safety. just gave way, period.
The VIX just broke out and checked in at the support... spiking up soon?
The HG1! copper futures stalled at resistance.
Overall, Bearish bias on equities
BANKNIFTY ANALYSIS AND PREDICTIONS FOR 05 APRIL 2022SUPPORT
38424
38224
38000
RESISTANCE
38933
39254
39515
EXPECTED RANGE 39000 - 39500
Tomorrow we can see a gap up of 300 - 400 points in #BANKNIFTY, if the price sustain above 39000 for 30 mins then we can see a movements upto 39500 either on Tuesday or Wednesday.
We can sell Banknifty if see a strong Resistance between 39400 - 39500 range and price break support at 39254.
#BANKNIFTYOPTIONS TO WATCH
38000 CE 07 APRIL
38500 PE 07 APRIL
Being a weekend trading warriorYour results on Monday will be influenced by the work that you do on the weekend, specifically Sunday.
As an intraday trader I constantly think about my trading.
Here are a few points which every trader should focus on,
1 - Mapping our mental weaknesses
We all have mental challenges, some of us have a lot of FOMO,
while others oversize and over trade, you know what is holding
you back as a trader... FIND IT AND WORK ON IT!
2 - Reviewing trades (winners & losers)
Search for the plays where you can add size,
search for patterns that you can exploit next week,
review your best trades. What trades worked best for you?
more of these on Monday. What trades are not working for you? Eliminate them.
3 - Checking for key levels & patterns
The best in every industry practice and train... yet probably 90% of traders never
really do any kind of practice, they search for a strategy and then cannot wait to apply
it to the markets... real traders work on their trading hence they create REAL SKILLS!
Leading Indicators messyWith the current global situation where there are day by day developments, the Leading Indicator panel offers similar dichotomy...
The JNK ETF is heading further down -> Bearish for equities.
The IWM ETF is likely to push down in a somewhat limited fashion -> Bearish for equities
The DJT ETF appears to be bouncing up -> Bullish for equities
The VALUG looking for more downside -> Bearish for equities
The TIPS ETF is spiking after a gap up, bullish for TIPS -> Inflation is exploding! Ususally bullish for equities, but in this instance, not likely.
The TLT ETF is bottom feeding, and there is a MACD bullish divergence -> this suggests that the fear is not yet great enough for a flight to safety. Not yet.
The VIX just broke out of a trend line and is pushing towards 45.
The HG1! copper futures suggest an anomalous accumulation of copper, maybe forerunning the equities market upwards, but otherwise, if a general reflection of commodities rocketing in prices.
Overall, Bearish bias on equities, with the chance of a quick rebound soon... but not before a spike down first.
Totally tied to the Russian Ukraine events for now.
Bitcoin shorts and a KEY lesson for day traders!Hey again traders!
Happy Monday and welcome to the new trading week!
Yesterday we released a post about Bitcoin explaining what we believe is happening and how we will be trading! Today we release yet another post this time detailing our strategy for the rest of the day when it comes to Bitcoin but also provide you with a key lesson on how you should approach day trading.
We hope this video helps you in one way or another and if it does, then our job has been a success here!
Happy Trading!
FEW SIMPLE TIPS TO IMPROVE YOUR TRADING PERFORMANCEToday we prepared for you few simple tips that may help you improve your trading performance.
Please feel welcome to share your own tips in the comment section.
Educate yourself.
No trader can become successful without spending plenty of time studying charts, fundamentals and technicals. Nowadays, there are plenty of financial gurus and trading courses which claim to offer knowledge that will transform you into a professional trader in just a short amount of time. Unfortunately, most of these services offer only shallow information that has no use in the real trading world. In our opinion, literature written by renowned traders and economists offer more profound knowledge and usually at better cost.
Analyze your trades and strategies.
Analyzing your past trades and strategies can help you learn from your mistakes. Additionally, it can help you recognize what you did correctly and what works for you.
Do not trade without a proper trading plan.
Each trade should have a proper trading plan. This plan should at least consist of entry/exit points and risk/reward evaluation. However, creating different scenarios for each trade can help you navigate the market even better.
Evaluate your risk/reward associated with each trade.
Each trade has a risk/reward ratio tied to it. Generally, a risk/reward ratio of 1:3 or more is preferable.
Do not chase the market when you are not sure where it is headed next.
There are times when the market is very volatile and experiences swings from side to side. Often, in such times, a trader may be unable to tell where the market is headed next. On such occasions it is usually better to take a step back and not to trade. This can help avoid loss of capital due to whipsaws.
Take a time off after the winning streak.
Winning streaks often result in confidence being gained by a trader. However, many traders tend to get overconfident which usually leads to loss of capital that has been amassed through the winning streak. Therefore, it is usually better to take some time off trading after substantial gains were made.
Take a break from trading after the losing streak.
Losing streak can negatively affect a trader's decision making. It can often result in loss of confidence and a needy feeling to make money back. However, a trader should resist these urges and take some break from trading. This is mainly because if a trader does not have confidence, it is much harder to execute trade properly.
Do not overtrade.
Sometimes there are no good trading opportunities. In such times it is usually better to take the role of market observer instead of trying to make money at any cost.
DISCLAIMER: This content serves educational purposes only. It is not financial advice.
Leading Indicators Reversal in ProgressInteresting... in the last couple of weeks, as the Leading Indicators signaled a retracement, it appears that it may be time for a technical bounce...
JNK broke down as expected, and exceeded target. Last week's candle had a long tail recovery, and this current week is forming a rebound.
MACD still in bear territory.
IWM, DJT and VALUG all seemed to have retraced hard, and bounced off a support. MACD crossed and still in bear territory... may not be over. sus.
TIPS failed a support and does not seem to be recovering, not bouncing for the matter. MACD appears to be recovering though. This one is rather odd, so I would just note and leave it for now.
TLT is not bullish as one would expect it to be. In fact, it looks bearish, which is favorable (bullish) for the equity markets.
VIX failed a solid break out and looks to be finding 16 again, signalling the interim volatilty is over and more bullish markets to prevail.
/HG Copper futures are held in a tight range and appear to be recovering this week - if it can hold steady and break out. MACD is not yet bullish.
Overall, the leading indicators are signalling an interim bottom. perhaps a larger than expected rebound should follow in the coming weeks...
Union Budget with a hammer in #bankniftyDhyaanpurvaak starakata!!
As we know sharing is caring, so I'm sharing my thoughts here!
This is like the third time I've seen a hammer above a average, that designates either of one, either a sideways or a huge pull up like 400 points or sideways and down, most likely tommorow is a golden days for buyers,a complete down market and within Friday we can expect market to go to 38254. I am keeping a positive note nd not both sideways so i would likely do that.
Mera idea achha lagta hai to please like and also sub my YT.
PTON Peloton Buy area after a Massive Head and Shoulders The price target of the massive head and shoulders bearish chart pattern was reached yesterday.
Insiders sold around 500Mil worth of shares last year.
PTON went lower than its IPO price, $29 and is now trading in a consolidation area.
the price is not yet safe in that range.
My buy area is $18 to $24.5
Looking forward to read your opinion about it.
Leading Indicators not bullish, slow deterioration observedReviewinig the Leading Inidcator Weekly panel...
The JNK has a Sell signal, retraced and may break down to a lower low target, as previously expected. Not yet happening, but with a lower high, the bias is closer to the downside.
The IWM (Russell 2000 ETF) also has a Sell signal and lower high. Waiting for a lower low confirmation with a break of support.
The DJT is also similar.
The Value Line failed to close the recent gap, suggesting downside bias.
The TIPS clearly broke down through two support levels with a system Sell signal. So this one committed.
All the above have MACD technically bearish bias.
The TLT is oddly breaking down too. No comments about this at this point of time. Just unusual.
The VIX is also unusually complacent, being <20. Technically seeing a possible spike some time in the next two weeks or so.
I just added the Copper futures in the panel... according to Russell Napier, Copper futures is also one of the leading indicators we can use. For now, it is ranging and not committed to any trend.
I hope we get some committed trend soon!
Stay safe!
Leading Indicators point to more the obviousLeading Indicator panel update:
JNK - the topping pattern continues to play out for JNK, looking for a lower low, after the last lower high.
IWM - The Russell 2000 ETF failed a breakout late last year, and is about to break down of a support given the bearish weekly candle.
DJ Trans - a system Sell signal, and likely downside off the Dark Cloud Cover pattern.
Value Line - Similar outlook to DJ Trans, with bearish candlestick that failed to close the gap.
TIPS - Totally bearish Marubozu that broke two supports, with MACD bearish. This market forerunner is not boding decisively bearish.
TLT - Instead of the expected bullishness in a bearish market, we see TLT being dumped with a gap down marubozu.
VIX - still low, coiling to spike perhaps?
ES1! - The S&P500 futures had a Bearish Engulfing last week... indicative of a follow through downside in the weeks to come.
So... the leading indicators overall are bearish, and getting more so, with the S&P500 just became indicative of some real retracement potential in motion.
5 Fundamental aspects of day trading successHere's a quick video on a few vital skills every trader needs to acquire before he/she can actually achieve success in day trading.
This is 100% from our experience, we've worked hard to achieve success in day trading so these tips come from our direct experience.
Hope they help you guys:
HARD WORK: hard work in trading
doesn't come from actual trading,
hard work in trading comes down to
the preparation aspect.
PATIENCE: Patience enables an
excellent entry point, which allows
a trader to enter a bigger position
and increase the profitability factor.
DISCIPLINE: Discipline is following
the process day in day out without
altering it because of a few red
trades. Discipline is executing the
process every day and on every
trade.
REPLAYING TRADES: Reviewing
your biggest loses and your biggest
winners is literally the quickest way
to become a primed trader.
First become a good trader then focus on the chartsFor day traders, traders who focus on technical analysis it is very important to first master the mental aspect of trading before they move to actual charting. This blog post and video will help you understand the path you need to take if you are a new or struggling trader.
The biggest challenge we see in new traders is that the new traders want to learn as quickly as possible to earn, they rush into trading live and that "rush" doesn't actually allow them to actually learn how to trade, successful trading comes in two parts, the first is mental skills and the second is a complete trading system, without having both of these traders fail.
I'll quote Richard Dennis, a legendary trader, to explain the importance of mindset,
I always say you could publish rules in a newspaper and no one would follow them. The key is consistency and discipline.
Discipline and consistency are mental skills, nothing to do with the system everything to do with the mindset. Meaning that you could have at your disposal the best trading system in the world, but if you don't follow it (with consistency and discipline) you are doomed to failure. - Since you simply won't follow the system.
Most of the great traders that I know or follow, who trade based on charts like us, were great traders first, now once they became great traders (mentally) then, after they because great traders they learned how to read charts and built or learnt trading systems.
Trading is the hardest easy job in the world, easy because you choose everything, from exposure, to when and where you work and all the way to how much you make or lose. You are in control and always will be, but you're only in control when you manage your mindset throughout the day with discipline and consistency.
The main reason we are sharing this is because we have gotten a lot of new members in our community and followers on tradingview, and we just want to help everyone new to us to master their emotions first and then focus on the profits!
Now, while I mention profits above I want to explain the correlation profits have to deeds, I firmly believe in cause and effect, and I believe it works in this way:
poor or average causes = poor or average results (losses, failure, stress)
Good causes = good results
Great or extraordinary causes = great or extraordinary results
Like I mention above, you get to choose everything you do in trading, this is the main difference between actual trading and gambling.
Who are you going to be today? A gambler or a trader? - The choice is always yours!
WHAT WE RECOMMEND TO NEW OR STRUGGLING TRADERS:
Our first recommendation is that you fully focus on yourself, find and accept your weaknesses or limitations.
Weaknesses are overtrading, no patience or discipline. Find them and create plans to remove them, if you're not challenging yourself you cannot be a good or great trader.
Limitations are not having much time, not having capital, not having knowledge, all of which you can work on if you're serious about trading success.
Next is the system, you must find or create a complete trading system... that is the easy part, all you need is a system that governs every aspect of your trading and we have one, not to make this promotional, but you can get our day trade for a living course here and replicate our system.
Now charts are important, very important so you must learn how to read charts, that will only come from practice, lots of practice! Think about it like this, if all the great businessmen/women, sports people and everyone in between practice (read, train etc) don't you think as a trader you need to do the same?
In a nutshell, first develop your mental trading skills, then you can use charts to supplement your trading skills. Just know this, without trading skills your charting knowledge will not be valuable. - You need them both!
8 tips to keep you sharp over the weekend!Tomorrow is Christmas eve, the general markets will be closed, of course crypto will still be rocking and rolling, but the CFD markets will be shut. In day trading it is very easy to get rusty, a few days will do the trick, so with a 3 day weekend approaching we wanted to use this time to help you stay on track so you remain "hot" for the last trading week of 2021!
For those of you who will be celebrating Christmas, you will be busy Friday and Saturday, but we're sure you can find a cheeky hour on Sunday to work on yourself, since the weekend is the perfect time to grind, and do things such as reviewing your trades, seeing which assets moved the most and why (so you can take advantage of these situations in the future).
Today's blog topic will be guidance on what you could work on this weekend to keep yourself hot and not get rusty!
"DO OR DO NOT, THERE IS NO TRY." - YODA
1. THINK HOW CAN YOU IMPROVE YOUR PATIENCE – Having patience as a day trader will help in many ways, one of them being better entries, since entries are directly connected to our PnL it is then a vital skill to acquire, think what you could do to become a more patient trader and create a plan for the new week and apply it on your first opportunity!
2. REVIEW THE MAIN MOVERS THIS WEEK/MONTH – Every successful person, whatever industry it may-be practices a lot, the best way we trades get to practice is to review the charts and see what you could have done to profit in the new week by learning what you missed the week before
3. REVIEW YOUR RULES (PROCESS / ENTRY / EXIT / WATCHLIST) – Always helpful to read over and reevaluate your trading rules, it is a very underrate process, and because the majority of traders do not review their rules and processes they generally do not know what they are nor do they apply them!
4. VISUALIZE SUCCESS AND CHALLENGES – Visualize yourself making good/great trades. see yourself going through different scenarios and achieving the profits you seek. From seeing the perfect setup to executing the trade to exiting the trade, every aspect of trading, see it and feel it. Then also review the challenges you face as a trader, I'm sure you can think of dozens of them!
5. THINK HOW CAN YOU MAKE ONE A+ TRADE AT A TIME - Work on your entry process and criteria, know what the BEST TRADES look like, write it up! So when they show up you can execute with a larger size and maybe bank a much bigger profit than normally.
6. TALK TO EXPERIENCED TRADERS – It is very helpful to get ideas and see what these traders are doing, there is always something for you to learn, even when you become a millionaire trader, you'll still have so much to learn!
7. HOW CAN YOU IMPROVE THE RETETION OF PROFITS – If you are up on the day, set a tighter stop loss to keep your profits, that could always be a solid idea right? There are many ways to retain profits, such as lowering your size after a strong winning streak in a day... but its also your job to think about how you could do this better!
8. WORK ON YOUR PREPARATION – Preparation is Key for success! If you fail to prepare, you prepare to fail! We prepare for a solid hour before we start to trade, there is value in this... so this weekend create your "preparation process" and put it to work!
Ok we are done! Thanks for reading, but before we let you go we have a small request! If you come up with any good ideas that work for you, or have them already, please share them with us we'd love to learn from you too!
Merry Christmas and all the best!
BANKNIFTY ANALYSIS FOR 22 NOVEMBER 2021BANKNIFTY ANALYSIS For 22-NOVEMBER-2021 09:15 AM Live Intraday Calls, Predictions, And Market Analysis
🤑🤑 TRADE SETUP FOR BANKNIFTY🤑🤑
👉BUY BANKNIFTY ABOVE 38224 WITH STOPLOSS OF 37875 AND TARGET 38500, 38800
👉SELL BANKNIFTY BELOW 37950 WITH STOPLOSS OF 38224 WITH TARGET 37650 AND 37400
✅ BANKNIFTY SUPPORT AND RESISTANCE LEVELS
SUPPORT 1 - 38008
SUPPORT 2 - 37646
SUPPORT 3 - 37393
RESISTANCE 1 - 38224
RESISTANCE 2 - 38424
RESISTANCE 3 - 38700
#BANKNIFTYOPTIONS TO WATCH
25 NOV 38300 CE
25 NOV 38000 PE
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BANKNIFTY ANALYSIS For 12 NOVEMBER 2021 12 36PMBANKNIFTY ANALYSIS For 12-NOVEMBER-2021 12:36PM Live Intraday Calls, Predictions, And Market Analysis
👉 TRADE SETUP FOR BANKNIFTY
BUY BANKNIFTY ABOVE 38709 WITH STOPLOSS OF 38425 AND TARGET 38933, 39100
SELL BANKNIFTY BELOW 38425 WITH STOPLOSS OF 38645 WITH TARGET 38200 AND 38000
✅ BANKNIFTY SUPPORT AND RESISTANCE LEVELS
SUPPORT 1 - 38424
SUPPORT 2 - 38000
SUPPORT 3 - 37750
RESISTANCE 1 - 38933
RESISTANCE 2 - 39543
RESISTANCE 3 - 39775
#BANKNIFTYOPTIONS TO WATCH
18 NOV 39000 CE
18 NOV 38000 PE
#trendanalysis #bankniftytrend #bankniftyview #bankniftytradesetup #bankniftytrading #bankniftyanalysis #bankniftyoptions #bankniftylevels #bankniftyfuture #bankniftytips #bankniftypredictions