Manoj's Trading Diary

[manojborle]

is bullish diergence and positive reversal are same if different can you point out the differences .

Bullish divergence is where price makes lower low whereas RSI doesnt make lower low.

Positive reversal is RSI makes lower low whereas price makes Higher low.

Opposite for Bearish divergence and Negative reversal

Thanks

 

[manojborle]

Trade Plan for 2nd Jan

Demark Trendlines:
Negative reversal in RSI which happened on 1st Dec has target of 7629.

Supply line breakout is invalid.

As it is an Up Close today breakout above Supply line will fail.
If Spot nifty opens above 8214 then it will be valid breakout with target of 8593.

ADX has started sloping down which indicates retracement in Downtrend is in progress.

Dec 12-15 8230 was a stiff resistance and there was a gap between 8230-8242 which can be filled and will act as resistance.

SUPPORT: 8176, 8047, 7944
RESISTANCE: 8280, 8291, 8414

As expected breakout of Supply line failed. There is another negative reversal happening with a target of 7826 on spot nifty provided yesterdays high is not broken

 

[manojborle]

Trade Plan for 3rd Jan

Demark Trendlines:
Negative reversal in RSI which happened on 1st Dec has target of 7629.

Price resisted at Supply line yesterday.

As it is an Up Close today breakout above Supply line will fail.
If Spot nifty opens above 8207 then it will be valid breakout with target of 8577.

ADX has started sloping down which indicates retracement in Downtrend is in progress.

Dec 12-15 8230 was a stiff resistance and there was a gap between 8230-8242 which can be filled and will act as resistance.

SUPPORT: 8108, 8047, 7944
RESISTANCE: 8192, 8280, 8291, 8414

 

[kharsh23]

Trade Plan for 3rd Jan

Demark Trendlines:
Negative reversal in RSI which happened on 1st Dec has target of 7629.

Price resisted at Supply line yesterday.

As it is an Up Close today breakout above Supply line will fail.
If Spot nifty opens above 8207 then it will be valid breakout with target of 8577.

ADX has started sloping down which indicates retracement in Downtrend is in progress.

Dec 12-15 8230 was a stiff resistance and there was a gap between 8230-8242 which can be filled and will act as resistance.

SUPPORT: 8108, 8047, 7944
RESISTANCE: 8192, 8280, 8291, 8414

I think Nifty will try for double bottom in coming 2 -3 days...
What you say?

Sent from my Mi 4i using Tapatalk

 

[manojborle]

Trade Plan for 3rd Jan

Demark Trendlines:
Negative reversal in RSI which happened on 1st Dec has target of 7629.

Price resisted at Supply line yesterday.

As it is an Up Close today breakout above Supply line will fail.
If Spot nifty opens above 8207 then it will be valid breakout with target of 8577.

ADX has started sloping down which indicates retracement in Downtrend is in progress.

Dec 12-15 8230 was a stiff resistance and there was a gap between 8230-8242 which can be filled and will act as resistance.

SUPPORT: 8108, 8047, 7944
RESISTANCE: 8192, 8280, 8291, 8414

I made a mistake with 8207 level, it should have been 8188 and as such todays breakout of Supply line is valid now and target is 8556. However the breakout candle is almost a DOJI and if high of today's candle breaks then I will consider it valid breakout.

 

[manojborle]

Note: These are ideal/model trades

 

[psrjt]

Note: These are ideal/model trades

its a very great learning for me. thanks for sharing it. keeps it for some more days . its very insightful. thanks once again:thumb::clap::clapping:

 

[manojborle]

 

[southpaw]

hi manoj no shorts at 10 18 candle.? rsi divergence.. also nf heading to daily resisitance on rsi.. adx is also below 35 on that candle..

 

[manojborle]

hi manoj no shorts at 10 18 candle.? rsi divergence.. also nf heading to daily resisitance on rsi.. adx is also below 35 on that candle..