Hello traders!
Do you try to understand what is price doing? If not, let me help you.

Price can be either in a trend or range. If it is in trend, it may have either momentum or lack of momentum. If it is in range, it may have either high volatility or low volatility.

1/n

Price cannot do anything else other than these four. As a trader, our first job whenever we look at the price chart, is to try to figure out what price is doing. Is there
Trend with momentum
or
Trend with lack of momentum
or
Range with high vol
or
Range with low vol

2/n
Now let me show you a daily chart of #banknifty of year 2019. First chart with big picture. It clearly shows price in a phase of "range with high volatility."

3/n
Now the same chart of #banknifty but with more understanding of all four phases of price action at different times of the year 2019.

4/n
So now after having it analyzed, we can say that currently #banknifty is in broad range of 32k to 26.5k with high volatility with CMP closer to bottom of range.

5/n
With this analysis, now we can pick any option trading strategy if we have a knowledge of options or any other trading system which allows us to benefit from range with high volatility.

End of thread.

More from All

ChatGPT is a phenomenal AI Tool.

But don't limit yourself to just ChatGPT.

Here're 8 AI-powered tools you should try in 2023:

1. KaiberAI

@KaiberAI helps you generate beautiful videos in minutes.

Transform your ideas into the visual stories of your dreams with this Amazing Tool.

New features:
1. Upload your custom music
2. Prompt Templates
3. Camera Movements:

Check here

https://t.co/ivnDRf628L


2. @tldview TLDV

Best ChatGPT Alternative for meetings.

Make your meetings 10X more productive with this amazing tool.

Try it now:

https://t.co/vOy3sS4QfJ


3. ComposeAI

Use ComposeAI for generating any text using AI.

It’s will help you write better content in seconds.

Try it here:

https://t.co/ksj5aop5ZI


4. Browser AI

Use this AI tool to extract and monitor data from any website.

Train a robot in 2 minutes to do your work.

No coding required.

https://t.co/nNiawtUMyO

You May Also Like