Advance Price Action Trading with Demand Supply & More

[AlphaT]

Got an entry in hourly time frame today. This DZ is also is a POI.

Awesome! Took some profits?

 

[AlphaT]

hey a newbie doubt
can u please explain why this setup failed ?
did i drew the zone wrong ?
time frame (15 min)
View attachment 39379

No the zone is drawn correctly! Not all zones are equals. I can't tell much just buy seeing this much on the chart. Which stock is it?

 

[sabhlok_r]

Awesome! Took some profits?

Thanks Sir. Yes booked half at 2:1 RR.

 

[AlphaT]

Thanks Sir. Yes booked half at 2:1 RR.

Perfect, I would have done the same! Now you can ride towards your intended target risk free!

 

[dhruv24]

Nifty in compression on 1hr. Once the flag is taken out, can expect swift downward movement.

 

[warrior_trader]

Although you have asked this question to Dhruv, I am taking the liberty to answer it from my perspective. Usually when I am trading any LTF like 5m/15m I look at Hourly, daily, weekly to get the sense of the overall flow, whether it's in a HTF SZ/DZ, or about to approach a HTF SZ/DZ or just bounced from a HTF SZ/DZ, overall trend, etc. If say price is moving up from a Daily DZ towards a Daily SZ, it's better to go long at quality DZs in 5m/15m in such a scenario since the overall flow is upwards, so it's more prudent to swim in the direction of the flow than to go against, especially for beginners. As a beginner avoid counter-trend trades.

thanks sir for your insights

No the zone is drawn correctly! Not all zones are equals. I can't tell much just buy seeing this much on the chart. Which stock is it?

YESBANK 15 min TF, 5th august 19

 

[AlphaT]

Nifty in compression on 1hr. Once the flag is taken out, can expect swift downward movement.

True, the hourly is highly compressed, corrective down move in the uptrend possible.

On a side note, beginners should avoid this counter-trend play, only experienced traders should look for reversal PA for shorts.

 

[sabhlok_r]

Yes, an ERC indeed, but I would be careful with trading this now since it came very close to the zone and rallied up. These are some of the tricks that they play if they see lots of retail orders at a zone.

Tata Steel gave a good entry in 3-M chart. For significance of this DZ ,refer 15-M chart.

 

[dhruv24]

True, the hourly is highly compressed, corrective down move in the uptrend possible.

On a side note, beginners should avoid this counter-trend play, only experienced traders should look for reversal PA for shorts.

Here's the PA I was looking at. Started oscillating between the flag and QM. Would need to engulf this tested flag for further downward movement. 5min chart, but the same is visible on 15mins as well

 

[AlphaT]