Thread on sideways market:
Sideways price action or consolidation is a phase where institutional players are silently building their positions transacting in smaller quantities.
(1/n)
Instead it results in a sideways price action.
When you see sideways action, do not think of it as boring but remind yourself that market is preparing itself for the next leg of move.
Trading decisions can be taken when price BO/BD such areas of VP.
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Nifty basic volume profile analysis for today:
Yesterday, shared about various types of volume profile analysis and how to prepare for next day. Read here
We had discussed that a "p" shaped profile and close at highs indicates longs are in control of the market.
It also indicates high chances of uptrend continuation next day.
But
(2/n)
How to trade a failure of trend continuation? Yesterday, we saw a "P" shape profile in Nifty and close at highs.
But we failed to continue upmove today.
(3/n)
We opened positive but the opening breakout not sustaining is first cue to understand that bulls are lacking initiative to push prices up further.
(4/n)
For confirmation, one can use orderflow as well to see real time supply demand flowing into the market.
At open today, we saw fresh sellers coming in a bullish opening.
(5/n)
Yesterday, shared about various types of volume profile analysis and how to prepare for next day. Read here
How to analyze Nifty using various types of volume profile:
— Trader Abhishek (@KillerTrader_) September 5, 2022
A thread \U0001f9f5
(1/n)
We had discussed that a "p" shaped profile and close at highs indicates longs are in control of the market.
It also indicates high chances of uptrend continuation next day.
But
(2/n)
How to trade a failure of trend continuation? Yesterday, we saw a "P" shape profile in Nifty and close at highs.
But we failed to continue upmove today.
(3/n)
![](https://pbs.twimg.com/media/Fb-MnEUaUAAdEtI.jpg)
We opened positive but the opening breakout not sustaining is first cue to understand that bulls are lacking initiative to push prices up further.
(4/n)
For confirmation, one can use orderflow as well to see real time supply demand flowing into the market.
At open today, we saw fresh sellers coming in a bullish opening.
(5/n)
![](https://pbs.twimg.com/media/Fb-M1YSaQAMUh4G.jpg)