WHY I DID NOT PROVIDE SUPPORT IN BNF ON SEP 5 ?
Hi Traders,
1. On the 5th of Sep 2020, I did not provide any second support why? If you see the fig of that day analysis, I provided only one red color support not second. Old followers know when I manifest the move of the next trading session or week I always mark two support and resistance in my fig. This is the first time when provided only one. If you see the current fig, you will find that price broke it and even satisfied taken out condition but it made zone with a blue color line and moved up. Quoting point no.2 of the trading plan section which shows bearish for the time being not expecting this down all will be completed near this red support. "Now price structure has become negative for time being." Here I was not expecting more fall that is why I started this point with the above-mentioned line. Later in this point, I gave the mentioned taken out condition.
2. See in point no. 1 of the same section what I wrote is quoting for your consideration ". In fig, if you see the yellow trend line showing you the sign of future trend had you interpreted in this way. See support zone providing support but yet trendline is acting as resistance means till the price does not move above this line any long should not be opened. If you use little logic with any of my analyses you can see the direction."
Here Thevsupport zone of last week white and green was acting as support and the yellow trendline was acting as resistance see in down fig setting for matching my statements. Price could not cross the yellow trend line and moved down.
Trading Plan for Next week
1. With the movement of price this week I changed the angle of the yellow trendline that is why it came down. Now If price has to move up then this yellow trendline with pink resistance which is just above the trendline has to be taken out in both time frames of 1 hour & 15 min with the target of the white-green zone. In any case, price does not fulfill the taken-out condition on this zone then it will consolidate here for some time. That range will be green white upper side and pink lower side.
2. In any case, taken out condition gets fulfilled then the orange line will be a target. If the price did not consolidate in the first point given range then it will consolidate between the yellow line upside range and the white-green zone as the lower limit.
3. blue trendline above is taken out in both time frames then the top pink line is the target. One consolidation phase will be seen in any of the two ranges mentioned in fig. So better not to trade it because it will take your earning back.
4. Here again not providing any down second support as not expecting more downside. But any big unexpected news can change the structure if the price goes down from the support of blue and red zone.
5. For new readers taken out condition is mentioned in the attachment. Please read it carefully before entering into a trade.
Yogesh vats
Disclaimer:- Providing this information as an educational purpose only. If you trade on this explanation that is your responsibility, not mine.
1. On the 5th of Sep 2020, I did not provide any second support why? If you see the fig of that day analysis, I provided only one red color support not second. Old followers know when I manifest the move of the next trading session or week I always mark two support and resistance in my fig. This is the first time when provided only one. If you see the current fig, you will find that price broke it and even satisfied taken out condition but it made zone with a blue color line and moved up. Quoting point no.2 of the trading plan section which shows bearish for the time being not expecting this down all will be completed near this red support. "Now price structure has become negative for time being." Here I was not expecting more fall that is why I started this point with the above-mentioned line. Later in this point, I gave the mentioned taken out condition.
2. See in point no. 1 of the same section what I wrote is quoting for your consideration ". In fig, if you see the yellow trend line showing you the sign of future trend had you interpreted in this way. See support zone providing support but yet trendline is acting as resistance means till the price does not move above this line any long should not be opened. If you use little logic with any of my analyses you can see the direction."
Here Thevsupport zone of last week white and green was acting as support and the yellow trendline was acting as resistance see in down fig setting for matching my statements. Price could not cross the yellow trend line and moved down.
Trading Plan for Next week
1. With the movement of price this week I changed the angle of the yellow trendline that is why it came down. Now If price has to move up then this yellow trendline with pink resistance which is just above the trendline has to be taken out in both time frames of 1 hour & 15 min with the target of the white-green zone. In any case, price does not fulfill the taken-out condition on this zone then it will consolidate here for some time. That range will be green white upper side and pink lower side.
2. In any case, taken out condition gets fulfilled then the orange line will be a target. If the price did not consolidate in the first point given range then it will consolidate between the yellow line upside range and the white-green zone as the lower limit.
3. blue trendline above is taken out in both time frames then the top pink line is the target. One consolidation phase will be seen in any of the two ranges mentioned in fig. So better not to trade it because it will take your earning back.
4. Here again not providing any down second support as not expecting more downside. But any big unexpected news can change the structure if the price goes down from the support of blue and red zone.
5. For new readers taken out condition is mentioned in the attachment. Please read it carefully before entering into a trade.
Yogesh vats
Disclaimer:- Providing this information as an educational purpose only. If you trade on this explanation that is your responsibility, not mine.
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