💥💥 Banknifty Intraday Scalping Strategy 💥💥
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Here's A Small 🧵
What Is Scalping?
Is it for everyone?
👉Scalping is a trading strategy in which traders profit off small price changes for a stock or index.
👉Scalping Relies solely on price action or Technical analysis.
👉 Only Intraday immediate data is of concern.
👉 Scalping requires a trading personality which incorporates the ability to be highly disciplined,
Ability to take quick decisions without hesitation and not questioning their decisions once they have been made.
👉So first determine whether this style is suitable for you.
Tool 1: Intraday VWAP
Rule:
We will look for buy trades
When price is above VWAP
And look for only sell trades
When price is below VWAP
If you follow this rule,
Your 50-60% wrong trades will go away out of the window.
Tool 2: RSI
RSI shows patterns in momentum which may or may not be seen in price.
In this method
overbought,
oversold or divergence on RSI
Not needed.
Rule 2
RSI (11) should show the same congestion pattern shown by the price