Friday, 20 January 2017

Nifty Future 20012017


There was only one tradable setup today as marked on the chart which moved very, very well.  If you remember last Wednesday's (18th Jan) price action of Nifty, you would realize the script for the film was written that day, the film got produced today and got released in noon time.  How?  Have a look at the chart to understand price action of last few days,


Once we start connecting ourselves with the prices, prices will start revealing...

We just need to make an effort.  That is all.

7 comments:

  1. In the first chart have you taken the entry from MSP ? I thought of entry from direct BO from PDL. Can we take direct entry from BO of PDL ?

    ReplyDelete
    Replies
    1. RR

      Entry was possible on prices getting accepted below the dotted red line. If you miss it then below MSP. Shorting below PDL was difficult as there was DO and LOD just below it and after breaking those levels it did not pull back to allow us to enter.
      URD

      Delete
  2. Wow...thats a great observation sir. Kudos to your chart reading skill.

    ReplyDelete
  3. Sir, how many order flow reading we can see? i saw only 5 orderflow in my chart, is there any software to see more order flow?

    Naveen

    ReplyDelete
    Replies
    1. Naveen

      For more than 5 bid/ask you will need level 3 data from NSE which costs a lot. Level 3 gives you 20 best bid/ask.

      I personally do not believe in DOM or reading of these bid/asks. It does not help at all in decision making as traders and big players can anytime cancel the orders and place dummy orders to mislead others.

      You have wonderful price action chart in front of you. You just need to develop the skill to read the PA. By just looking at the chart, you can determine where the most of order flow is currently and what would cause the problem to that order flow.

      URD

      Delete
  4. Wow...thats a great observation sir. Kudos to your chart reading skill.

    ReplyDelete