Discover and read the best of Twitter Threads about #LearnwithPAL

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What is a trade scanner? #LearnWithPAL
A scanner is nothing but a set of buy/sell rules which a trader defines after he/she manually backtest his/her ideas on charts. It is a method to translate your trading ideas into a rule so that you dont need to manually scan in future

There is nothing magical in it but lot of people ask me to share a magical scanner to get 100% solid signals which can change their life. This sort of thing doesn't exist at all. Its a myth to have a scanner giving 100% accurate results.

My scanner may or may not work for you because I built it based on my trade conditions & I look for something specific in a chart before I take a trade. Even if you get the scanner, you may not get the required conviction along with it.

Read 4 tweets
#BANKNIFTY Future bar by bar commentary for today's move for learning purpose.


After a powerful reversal with massive volume & wide range bar yesterday #BNF closed above EMA21 & has made higher higher on 15M candles & didnt break the low of any previous candle.

This shows the strength in the move & shows the strong momentum upside. After so many days of downfall, bears were shorting on every rise & this was a perfect "Bear Trap" setup (yesterday it broke the day low only to reverse).

At yesterday close selling profit booking was witnessed but today's open didn't break the low of that candle as well. It shows we still have some steam left for upside.

Points below are aligned with the numbers marked on the chart for easy understanding -
Read 12 tweets
Simplifying Trend Trading

Based on my experience I have collected some thoughts & prepared this one pager to help you spot a trend, ride, enter, place stop loss & define target. Enjoy!

Zoom the setup image for high resolution!

There is a small correction in the "How to ride the trend" section hence uploading the corrected version of the Trend Trading setup page. Please ignore the previous one & use this one. Thanks!
Read 3 tweets
On any TF chart when you see a long bearish candle closing near the lows with high volume, especially after the BO of previous highs, what would you do? Simple query so please give one liner simple answer.

Here are your 4 Options:
1) Go short if the low breaks on next candle or go long if high breaks on next candle
2) Short immediately with SL abv the weak candle high
3) Wait for next few candles until things are clear & then take a trade
4) Do nothing

#TradewithPAL #LearnwithPAL
Attached BNF explains what I was referring to. It is always good to understand the context (look left) & wait for the confirmation before you take a trade. Ideally if price BO then a follow through buying should come but if it doesnt then time to be cautious.

Read 3 tweets

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