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#QuickQuestion: If everybody is selling LT on bad news, then who is buying? Socho socho 🤔🤔
Looks like you guys didn't understand the hint.
It was a well planned trap for retail & I'm sure many got trapped today.
If LT gives a low volume test of today's low, enter long upon price reversal confirmation. Keep an eye!
Will explain this via chart in the evening.
It was a well planned trap for retail & I'm sure many got trapped today.
If LT gives a low volume test of today's low, enter long upon price reversal confirmation. Keep an eye!
Will explain this via chart in the evening.
Look at this chart & understand the psychology -
1) Whole India was short on bad news
2) It was expected to open gap down
3) If news was such bad it shd continue the fall but it didnt happen
4) Look at massive volume on candle 1 (5min). Opened low, went up till 1301 & closed +ve
1) Whole India was short on bad news
2) It was expected to open gap down
3) If news was such bad it shd continue the fall but it didnt happen
4) Look at massive volume on candle 1 (5min). Opened low, went up till 1301 & closed +ve
5) If this was sell volume then next candle shd be bearish & shd break the low of 1st candle. Right? But it didnt happen & candle turned bullish & closed near highs (see candle 2)
6) This was a good enough signal after despite of such bad news it didnt fall further in 1st 10min
6) This was a good enough signal after despite of such bad news it didnt fall further in 1st 10min
7) Therefore, for aggressive ppl 1st long entry cud be blue line (abv 2nd candle high) with SL below Day low
8) Candle 3 is weak Doji but it broke the high of candle 2. Indecision!
9) Candle 4 broke the low of candle 3 but bounced back sharply & closed near highs. Shows strength
8) Candle 3 is weak Doji but it broke the high of candle 2. Indecision!
9) Candle 4 broke the low of candle 3 but bounced back sharply & closed near highs. Shows strength
10) This is additional confirmation to go long becoz if there is so much weakness then price shd fall but it didnt. U can go long abv the high of candle 4 as well
11) Next good entry is yellow line which is abv candle 3 high which means price has refused to go down in 20 minutes
11) Next good entry is yellow line which is abv candle 3 high which means price has refused to go down in 20 minutes
12) The final safest entry could be above the high of 1st 5 min candle (green line) becoz it has rejected all the lower prices and discounted all negative news. SL below DL
Always be alert on such news driven stocks. Think different, be different & act differently.
Always be alert on such news driven stocks. Think different, be different & act differently.
Another hint was 1st 15 min candle vol was more than yesterday full day vol (abv 2M) & price closed in top 2/3 range (selling is absorbed by Smart Money)
That's the power of #PriceAction. Trust me all indicators will be in Sell mode when we buy like this. Check it to believe it!
That's the power of #PriceAction. Trust me all indicators will be in Sell mode when we buy like this. Check it to believe it!
