Hi Friends. I have been around for some time now. Have been a student of the market for a long time and continue to be so. Initially I tried many things from tips, sourcing information, studying TA (never had the patience and temperament to study TA, besides too many variables made it less appealing). I was in search of something which was simple, something which was happening on the charts but was escaping attention. I was searching for something which would be applicable across all segments of the financial markets. I always heard that price was everything and eventually everything gets priced in. I started concentrating on price and the way price behaved. I finally arrived at certain conclusions which satisfied my criteria for a system to understand price movement. Its my inference of price action and I believe its a very effective way of studying the financial markets. I will share simple charts without indicators or oscillators, which explain price behavior. Along with the charts I shall post some articles from my blog which I feel can guide new and upcoming fellow traders. Presently I teach price action and wish to share my ideas with you people. Kindly let me know about your views. I welcome all constructive inputs and criticisms.
Sharing below last session's (22-11-12018) intra-day chart of BankNifty futures (15 mins time frame). The Reference line (26165 on BankNifty) in red colour is an important feature which demarcates the areas where you take action. Besides the demarcating line there are absolutely no indicators, oscillators or patterns. Here one can clearly appreciate that around 1:15 pm BankNifty had a breakdown below 26165. In the next 3 bars the price action is limited to the area below 26165. At the fourth bar we see an attempt to regain 26165 and by the time the bar closes we see the attempt failing. This is a clear indication that the prices are ready to move south wards now. In the subsequent bars we can see the prices go down rapidly to see a fall of almost 200 points. This is price action.
Sharing below last session's (22-11-12018) intra-day chart of BankNifty futures (15 mins time frame). The Reference line (26165 on BankNifty) in red colour is an important feature which demarcates the areas where you take action. Besides the demarcating line there are absolutely no indicators, oscillators or patterns. Here one can clearly appreciate that around 1:15 pm BankNifty had a breakdown below 26165. In the next 3 bars the price action is limited to the area below 26165. At the fourth bar we see an attempt to regain 26165 and by the time the bar closes we see the attempt failing. This is a clear indication that the prices are ready to move south wards now. In the subsequent bars we can see the prices go down rapidly to see a fall of almost 200 points. This is price action.