TREND TRACKING SETUP!

13 sept 2020

BANKNIFTY


HOW TO ENTER & EXIT?
LONG ENTRIES ONLY FOR THIS POST!

Conditions for Entry -

[30 MINUTE CHART]

A) WITH RESPECT TO MOVING AVERAGE -

When price is trading above the 200 ema HIGH - LOW channel


B) WITH RESPECT TO AREA -

* Price is trading at or in the are of value
* Area of value = Price between, below or at the 2 moving averages of the edler's fav indicator (13 & 26 period).
* The elder's fav indicator comes with 2 bands also which envelopes the crucial area which contains almost 95% of the price movements.
* We buy when price is trading on or below the area of value and the price is also trading above the 200 period moving average H-L channel


C) WITH RESPECT TO CANDLESTICK

* If the edler's fav indicator shows Black Candle (Red for default settings) going long is prohibited until it changes it's color to either blue or green
* If the edler's fav indicator shows White Candle (Green for default settings) going short is prohibited until it changes it's color to either blue or black.
* If the edler's fav indicator shows Blue Candle (Default settings) nothing is prohibited.



[MOVE TO 7 MINUTE CHART ONCE THE ABOVE 3 CONDITIONS APPROVES TO GO LONG]


* Price closes below the lower band of bollinger bands and then gives a closing inside it.
* Volume is also good.
* Stochastics also shows oversold.
* If there's a support of pivot points somewhat near the below of current candle, then it puts more odds into your favour i.e High probability of winning!




EXIT-

With respect your RISK REWARD!
OR
BANDS OF BB
OR
BANDS OF Elder's fav!



Thanks!