PRICE ACTION : No indicators, patterns and theories. Just price.

[drvinod_k]

Friends, I have been insisting that Nifty futures need to sustain 10850 levels for the bulls to take charge. So far we have had two unsuccessful attempts and the third attempt was on Friday when the day open and low on nifty futures was 10850. I have attempted to explain the same in the Nifty Futures EOD chart below. I hope it is clear enough to drive home my point. Again I wish to say that this is my own view. Anyone who shares a different view is most welcome to present his idea (limited to TA only). A different view will benefit us all and add another perspective as well. After all the market works because at any give moment there are two different individuals (BUYER AND SELLER) who think differently and trade accordingly.

Regards.

 

[drvinod_k]

Price action in banknifty futures for intraday traders 02-01-2019. (5 min chart).

range breakdown on 5 min chart.

As expected after a breakdown weakness continues in banknifty futures

Regards.

 

[Tejas Khoday]

Nothing gives you a better "feel" for the market like price action trading does.

It does take up a lot of time though. You will have to limit the number of scrips you track.

 

[drvinod_k]

Nothing gives you a better "feel" for the market like price action trading does.

It does take up a lot of time though. You will have to limit the number of scrips you track.

Hi,
It does take your time but its worth the wait.

 

[Tejas Khoday]

Hi,
It does take your time but its worth the wait.

It definitely is. When you can see what's happening, you will require little to no indicators. This is how I learned how to trade at FF.

 

[drvinod_k]

It definitely is. When you can see what's happening, you will require little to no indicators. This is how I learned how to trade at FF.

Always good to hear from someone who understands price action. In my case, since I have been engaged in teaching price action my basics get revised time and again cementing them further. Of course I commit my share of mistakes but with time I have managed to eliminate most drawbacks and mental blocks.

 

[Tejas Khoday]

Always good to hear from someone who understands price action. In my case, since I have been engaged in teaching price action my basics get revised time and again cementing them further. Of course I commit my share of mistakes but with time I have managed to eliminate most drawbacks and mental blocks.

Interesting! Do you take offline seminars to teach price action trading?

 

[Ravii_67]

Nothing gives you a better "feel" for the market like price action trading does.

It does take up a lot of time though. You will have to limit the number of scrips you track.

Great to hear it from you ☺
Me also pure PA Trader

 

[drvinod_k]

Interesting! Do you take offline seminars to teach price action trading?

Yes I do. All my sessions are in person and live. Price action is best explained and experienced live. Price action is something that turns a non-believer into a believer. The biggest advantage being, it is applicable across most standard time frames and all the segments of the capital markets.

 

[Tejas Khoday]

Yes I do. All my sessions are in person and live. Price action is best explained and experienced live. Price action is something that turns a non-believer into a believer. The biggest advantage being, it is applicable across most standard time frames and all the segments of the capital markets.

That's awesome!