Analysis and Prediction
Based on the chart, the BANKNIFTY index is in a bullish trend in 1h. The price is near the Extrem orderblock , after both side liquidity in LTF. This suggests that the bulls are in control, and the index is likely to continue to rise in the short term.
Thought Process
If I were a trader, I would be looking to buy BANKNIFTY after recent swing high at 44,616.10. are taken out and give a change of character in Lower time frame . I would place a stop loss below the recent swing low at 44,559.60 and target a move to 10R
Explanation of SL and Target
SL stands for stop loss. It is an order to sell a security at a specific price to limit your losses. In this case, I would place a stop loss below the recent swing low at 44,559.60. This means that if the price of BANKNIFTY falls below 44,559.60, I would automatically sell my position to limit my losses.
Target is the price at which you plan to sell your security for a profit. In this case, I would target a move to the recent swing high This means that if the price of BANKNIFTY rises I would automatically sell my position to take my profits.
Conclusion
I believe that BANKNIFTY is bullish, and I am looking to buy on a pullback after a CHOCH in LTF . I would place a stop loss below the recent swing low and target a move to the recent swing high .
Based on the chart, the BANKNIFTY index is in a bullish trend in 1h. The price is near the Extrem orderblock , after both side liquidity in LTF. This suggests that the bulls are in control, and the index is likely to continue to rise in the short term.
Thought Process
If I were a trader, I would be looking to buy BANKNIFTY after recent swing high at 44,616.10. are taken out and give a change of character in Lower time frame . I would place a stop loss below the recent swing low at 44,559.60 and target a move to 10R
Explanation of SL and Target
SL stands for stop loss. It is an order to sell a security at a specific price to limit your losses. In this case, I would place a stop loss below the recent swing low at 44,559.60. This means that if the price of BANKNIFTY falls below 44,559.60, I would automatically sell my position to limit my losses.
Target is the price at which you plan to sell your security for a profit. In this case, I would target a move to the recent swing high This means that if the price of BANKNIFTY rises I would automatically sell my position to take my profits.
Conclusion
I believe that BANKNIFTY is bullish, and I am looking to buy on a pullback after a CHOCH in LTF . I would place a stop loss below the recent swing low and target a move to the recent swing high .
ملاحظة
Blue Setup Playing out wellملاحظة
External Liquidity taken for extreme order block LTF confirms Change of character High probability entry @44000
October month will be considered Sidways to an uptrend.
تم فتح الصفقة
Check out LTF Here in.tradingview.com/chart/BANKNIFTY/1D6PqyVU-Ping-Pong-Entries-in-BNF/Follow us for more, if this helps you you can help others too by dropping a boost
تم فتح الصفقة
Opening at our High probability entry @44000 Buyside Trade
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إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.