Thread by @learntotrade365

Process to read Charts of Banknifty for Intraday trading to plan trades & identify direction based on the price auction

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@Mitesh_Engr @ITRADE191 @ProdigalTrader @AdityaTodmal @Puretechnicals9 @hjyadav @Singh7575 @Rishikesh_ADX

Timeframe used will be 5 minutes and reference level by using simple Previous Day High/Low , Daily pivot points level from daily chart (if any) , Multi day High/Low (if any)

To understand who is in control buyers or sellers making a split analysis of every 1 hour timespan.

Let's start with first 1 hour Stage 1

Stage 2

Same need to be done for every 1 hour i have slightly fast forwarded because price not read to cross R1 level.

This is one of the simplest process i use in my trading with the help of few visual reference level like PDH/PDL etc... to understand the direction and read the charts.

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@jigspatel1988 @kach0289 @ArjunB9591 @tradingmonk_MB @Traderknight007 @KillerTrader_