Are you looking for a successful intraday trading strategy in Banknifty?
Well here is one along with entry, exit rules, and backtested results!
More from Indrazith Shantharaj
"VOLUME is the ultimate Trading cheat code" PART 2
Please read the FIRST Thread Before Reading this!
https://t.co/IV1HrDlzqk
#StockMarket #stock #volumeintrading
#1 Volume Color Can Create a False Illusion
At first look, it looks like a big volume spike.
But if you notice the price candle, it has a big selling wick.
It indicates "SELLING PRESSURE" is high at that time.
We can easily avoid this false impression using the "BLACK" color code across all the volume bars.
Now your mind doesn't assume it is a bullish volume spike!
(If you don't want to use the black color, then view the chart without getting any bias based on the volume color)
#2 Analyze Each Volume Spike Carefully
In this image, the price is breaking the resistance trendline.
How do you say whether it is a genuine breakout or false breakout (from a volume perspective)?
Observe the major Volume Spikes.
A is Bullish (Price moved upside on the next day)
B is Bearish (Price fell on the next day)
C is Bearish (Price moved sideways and fell)
D is Bearish (Price fell on the next day)
So High Probability of FALSE BREAKOUT!
Please read the FIRST Thread Before Reading this!
https://t.co/IV1HrDlzqk
#StockMarket #stock #volumeintrading
VOLUME is the ultimate Trading cheat code.
— Indrazith Shantharaj (@indraziths) August 6, 2022
But, most people never use it in the right way \u2013 because no one ever taught them how.
Here are 10 psychological triggers to knowing Volume in a better way :
#1 Volume Color Can Create a False Illusion
At first look, it looks like a big volume spike.
But if you notice the price candle, it has a big selling wick.
It indicates "SELLING PRESSURE" is high at that time.
We can easily avoid this false impression using the "BLACK" color code across all the volume bars.
Now your mind doesn't assume it is a bullish volume spike!
(If you don't want to use the black color, then view the chart without getting any bias based on the volume color)
#2 Analyze Each Volume Spike Carefully
In this image, the price is breaking the resistance trendline.
How do you say whether it is a genuine breakout or false breakout (from a volume perspective)?
Observe the major Volume Spikes.
A is Bullish (Price moved upside on the next day)
B is Bearish (Price fell on the next day)
C is Bearish (Price moved sideways and fell)
D is Bearish (Price fell on the next day)
So High Probability of FALSE BREAKOUT!
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THREAD PART 1.
On Sunday 21st June, 14 year old Noah Donohoe left his home to meet his friends at Cave Hill Belfast to study for school. #RememberMyNoah💙
He was on his black Apollo mountain bike, fully dressed, wearing a helmet and carrying a backpack containing his laptop and 2 books with his name on them. He also had his mobile phone with him.
On the 27th of June. Noah's naked body was sadly discovered 950m inside a storm drain, between access points. This storm drain was accessible through an area completely unfamiliar to him, behind houses at Northwood Road. https://t.co/bpz3Rmc0wq
"Noah's body was found by specially trained police officers between two drain access points within a section of the tunnel running under the Translink access road," said Mr McCrisken."
Noah's bike was also found near a house, behind a car, in the same area. It had been there for more than 24 hours before a member of public who lived in the street said she read reports of a missing child and checked the bike and phoned the police.
On Sunday 21st June, 14 year old Noah Donohoe left his home to meet his friends at Cave Hill Belfast to study for school. #RememberMyNoah💙
He was on his black Apollo mountain bike, fully dressed, wearing a helmet and carrying a backpack containing his laptop and 2 books with his name on them. He also had his mobile phone with him.
On the 27th of June. Noah's naked body was sadly discovered 950m inside a storm drain, between access points. This storm drain was accessible through an area completely unfamiliar to him, behind houses at Northwood Road. https://t.co/bpz3Rmc0wq
"Noah's body was found by specially trained police officers between two drain access points within a section of the tunnel running under the Translink access road," said Mr McCrisken."
Noah's bike was also found near a house, behind a car, in the same area. It had been there for more than 24 hours before a member of public who lived in the street said she read reports of a missing child and checked the bike and phoned the police.