Bank Nifty Swing

Does this flag means breakout on upside?

BNF complete a full flag on Daily (no of session in Pole = no of session in Flag, 9 each)





Break-out will be confirmed if closes above yesterdays high.

Effectively take home swing longs above 12680, or take home swing short below 12520


Cheers
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Hi winner

Do not pre-judge anything. Be prepared to trade both sides.

Currently intraday bias is on long side so we will be already carrying longs, but with tight stops. Now if today during the session, we make new lows (below 12520) then it will be obvious that the upper side of flag is acting like a resistance, so good shorting opportunity.


Cheers
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Today Long - Short and again Long

For Swing trade, changing sides intraday is a fair game when the side/trend remains undecided,
but once a trend/move/direction gets established it better for the swing trade to hold with deep stops

Broken yesterdays high but 'Trend' decisions are better made on closing basis

Cheers
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Hello

Question of the directional bias resolved to upside with both BNF and NF Strong Bullish getting into closing period.


Cheers
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Hello

Strong up-move from first bar.

Intra long from 12630 - 12650.

Swing trade long from 12685, above yesterday's high, stops below low i.e. 12575


Cheers
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Taking off the intraday longs (12910-20) and moving the stops on swing position to 12810

No technical reasons for taking profits other than emotions (feels v good to do so)




Cheers
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Very Nice :thumb:

BNF has a Jan high of 12975. Has reached there twice and retraced. I think it will be an interesting place.

The sideways consolidation is over. BNF created and moved in a range for last 15 sessions (3 weeks+) and now a breakout, so we can expect a good swing move . . .

Take home current Longs with deep SL of 12860

Today's is a 4% daily candle, a wide range bar, a WRB near congestion / sideways signifies the continuation of the previous trend, whereas the same bar above a big move can indicate an exhaustion pattern.


Cheers
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SL hit on the swing position, 13130.

Short on intra-day time frame but , no shorting for swing trade, will have to wait till below 13000


Cheers
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