BC CATAGORY TRADING
Saved by @PEEYUSHJAINA

Super thread on Trendlines & Two High-Quality Setups based on them.
🧵

 "A trendline is a line drawn on our charts that connects the swing highs and swing lows during a Trending Market."

In this thread, we'll learn about -
1. Features
2. Method to draw
3. Uses
4. Two Specific setups
5. Five crucial Tips
Features of Trendlines -
- Trendlines act as Support & Resistance (S/R).
- Break of Trendline shows a possibility of a Trend change.
- Risk : Reward is favorable when you initiate a trade from Trendlines.
How to use Trendlines
A. Use them as S/R lines and trade according to any of the Price Action strategies like Breakout, Pullback, BOF etc.

B. Use in any of these two specific Price action based setups -
1] Trend Trading
2] Reversal trading
1] Trend Trading using Trendline :-

For this, we need to learn about "Area of High Confluence" - 
They are ...
... the areas where Trendline and Support or Resistance line cross each other.
A lot of traders have their eyes on it. High probability that they will start action here, causing the development of a new trend.
Set up for Trend Trading using Trendline -
1. There should be the presence of a larger ongoing trend in bigger TF, draw a trendline for that.
2. There should be the development of an immediate trend in smaller TF, draw trendlines for that one too.
3. When the price touches the area of high confluence, draw a trendline below the Immediate trend.
4. Once this trendline breaks, take entry.

This setup will be clear by the following example -
a) In these images, you can see the larger ongoing downtrend.
We drew the Trendlines containing the peaks for this trend.
b) As you can see in this image, there is presence of an Area of High Confluence where both the Downside trendline & Horizontal S/R lines meet.
c) Now in these images, you can see the development of an uptrend in smaller TF.
When this uptrend touched the Area of High Confluence, we've drawn trendlines below this.

d) You can see this line diagram chart to get more clarity.
e) Now when price again broke the smaller trend's trendline, it was time for us to take entry.
You can see the Risk was very small making the R:R quite high.
Now let's discuss the second specific scenario,
2] Reversal trading using Trendline:-
Look for Double Top or Double Bottom formation just before a trendline breaks.
When that happens you can initiate a trade keeping the high as SL. R:R is very good in this scenario too.
See this example for more clarity -

a) The presence of Uptrend was there, we've drawn trendlines for that.
b) Double top formation occurred.
c) When the price broke the lower Trendline, we initiated a trade with good R:R.
Now the question arises.. How to draw the Trendlines??

I will DM you the "Accurate method to draw Trendline & Five crucial Tips for trendlines" when you RETWEET the first Tweet below -

Plz make sure you follow me @CnceptualTrader to get the DM.
https://t.co/S4nSs99Qr5
Also,
Join my Free Telegram channel at https://t.co/rpGeR19CEy
to get the PDF copy of my previous threads.

Thank you
X0X0

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12 Free but Extremely powerful Indicators in Trading View.
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1. All patterns
This will read all the candlestick patterns forming in your chart. You can initiate trade when your favorite pattern forms.
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2.Elder's Force Index (EFI)
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There is a powerful Free app for Traders which is much more efficient than many paid apps combined.
Read on to know -

🧵

Let's see glimpses of what this app does.

- Unusual Volume Live Scanner:
Stocks showing a sudden influx of volume are scanned here in realtime, both bullish & bearish. Great candidate for further follow up moves.


- Futures OI buildup :
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1. Trading is serious business - if you don't put in the efforts it deserves - it will bankrupt you.

2. The best traders are not born, they create themselves - through hard work & persistence.

3. If you give a single trade the capacity to destroy your account - eventually it will.

4. Forming a view is easy - acting on it is hard.

5. If you are not able to take losses gracefully - you won't ever make big profits.

6. Without data, your views are just opinions - the market will send them to 'trash' in a second.

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Here's a super setup with a ~70% win rate & very high R:R for Options Traders.

Name of this setup is - FSC.

🧵

Principle - The First 5/15 min candle of the day is very important. It gives a good indication of what is going to happen with that Index/stock in intraday.
One of the many types of candles is 'Strong' candle.

A strong candle is the one that either has no wick or has a wick on the downside (for green candle) or on the upside (for red).
Now if this candle forms in the first 5 min of the day, it's called FSC - First Strong Candle.


Entry Criteria - Enter at 9:20 am on the Stock forming FSC in 5 Min TF. Go long if FSC is green, short if FSC is Red.

Instruments - Can go with Options, Futures or even cash. Remember this is an Intraday strategy.


SL - low of FSC.

Trailing of SL - using PA-based pivots. You can use VWAP too.
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76 Super Tips to make killer profits doing Option Buying in #BankNifty

On the occasion of our 76th Independence Day.
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76. BankNifty's move depends on moves of mainly 5 banks - HDFCBank, ICICI Bank, SBI, Kotak & Axis bank: track OI buidup & PA of these daily.

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73. SBI, Kotak & Axis bank each contribute around 11%, but if two of them align with each other & HDFCBank & ICICI are neutral, they'll decide the direction.

72. SBI being the major PSU bank, can move opposite to these giants & create a turbulence, keep it in mind.
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You might be using chart patterns incorrectly if you've not seen this.

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