Hi friends,
Nifty has been in downtrend for a while. Recent price structure as per Elliot Wave Analysis suggests it can continue to drift down a bit further. But as per Elliot wave the current down move doesn't show any major reversal yet in Nifty.
Key note is that >>> till major resistance is not taken out...all trades to be taken on the negative side in intraday. Positional traders should wait for "KEY RESISTANCE" breakout to "plan their entry" or they may take a bet as nifty approaches "key invalidation point for better risk/reward ratio.
As we had a gap up today...we may see one more swing on the upside...after some consolidation or pullback...
I shall post my trading plan...when both price and time are ripe...keep following this idea...
comments or suggestions from experienced traders r welcome...
new traders or knowledge seekers can share their expectations...I will try to reach out as much as possible...
Good Luck guys...keep trading...keep rocking 💥💥💥
Nifty has been in downtrend for a while. Recent price structure as per Elliot Wave Analysis suggests it can continue to drift down a bit further. But as per Elliot wave the current down move doesn't show any major reversal yet in Nifty.
Key note is that >>> till major resistance is not taken out...all trades to be taken on the negative side in intraday. Positional traders should wait for "KEY RESISTANCE" breakout to "plan their entry" or they may take a bet as nifty approaches "key invalidation point for better risk/reward ratio.
As we had a gap up today...we may see one more swing on the upside...after some consolidation or pullback...
I shall post my trading plan...when both price and time are ripe...keep following this idea...
comments or suggestions from experienced traders r welcome...
new traders or knowledge seekers can share their expectations...I will try to reach out as much as possible...
Good Luck guys...keep trading...keep rocking 💥💥💥
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follow up :
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wait till key levels to breakout on either side...till key invalidation point gets broken...don't suggest to plan any short position...
