NZDUSD analysis using SMART MONEY CONCEPTS Strategy4HR Breakdown of NZDUSD Price action analysis using SMART MONEY CONCEPTS trading strategy.. P.S US NEWS Up comings today... BE AWARE before entering trades..
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NAS100 Price Action ANALYSIS using SMART MONEY CONCEPTS StrategyJust a 4HR Timeframe chart breakdown on NASDAQ using SMART MONEY CONCEPTS trading strategy
LIGHT BULB will eventually CLICK ES/SPX/SPYTrade Plan this Week
Pivot is 3875.
Big levels above are 3915 / 3960 / 3990 / 4000 / 4050.
Big levels below are 3832 / 3800 / 3777 / 3750 / 3712.
Market Structure
Short Term Trend. Spooz remains in a downtrend until we can get back above that 3915, which would be the first goal for bulls as it would put them back in firm control.
The Profiles. What the market has been communicating to us this past week is profit taking by shorts producing a relief bounce. We know this from the shape of the daily volume/market profile(s), as there were a few P-shaped profiles. Additionally, a pattern that has been developing has been poor lows, a sign of sellers selling into the hole without getting paid and effectively getting trapped, causing reversals. As is typically the case with short covering bounces, they get sold eventually. However, we need to remain nimble and aware that price can continue to move higher as long as there are new buyers. 3875 was a pretty key level last week, it has stalled the auction a few times, and I think there may be further pain for shorts as long as we remain above it. This will be our pivot this week. 3920 has unfinished auction, and downside was limited below 3800.
Given our pivot is 3875, bulls want above, bears want below. Above 3875 and I will be long biased, targeting 3894 and 3915. Breaking above and holding 3915 would be best case scenario for bulls, targeting 3960 and 3990 / 4000. Holding below 3875 would indicate weakness IMO, and targets in this case are 3832 and 3800. Break and hold below 3800 will target our 3777 and 3750 levels.
Inside Day. For Tuesday, we have an inside day set up which we want to be on the lookout for. The HOD was 3872, thus breaking above and holding we want to be bullish playing with further squeezing of shorts. The LOD being 3822, breaking below and holding we want to be bearish playing with the inside day break to the downside.
Trade Plan Tuesday
Pivot is 3875.
Bulls targeting 3894. Break and hold above targets 3915 / 3937 / 3950.
Bears targeting 3855. Break and hold below targets 3832 / 3818 / 3800.
Stay Frosty!
Buy setup in EURAUDWe can see a bottom reversal pattern in the pair. A big bar closing near the highs indicates strong buying pressure. Good to buy now or wait for a minor pullback.
Bullish London sessionHello traders,
- The price has taken out Friday's low where sell-side liquidity is.
- We should see bullishness as we trade into the London open.
Grab some pips to the upside.
BANK NIFTYImportant levels for 25/11/2022.
We witnessed a range break out in the index but majority of the move came in the last hour only. Also today it was another low volume day.
For tomorrow, if we open flat and move above today's high @ 43163, we can take longs and keep a SL of 50-60 points and look for targets of 43506. All we need to do will be trail the SL.
For shorts i am not seeing any nice setup. So will most likely give it a miss.
In case we come down 43025-43047 (in futures) will act as support and we can go long from here also.
NIFTYImportant levels for 24/11/2022.
A close that would definitely please the bears but the point to notice here is that we have not broken any old buyer reference levels.
For tomorrow, the best trade will be if we see a small gap up, then we can short for targets of the buyer reference of 18234-18246. But if we open flat the trade shall be avoided.
If we open flat, 18234-18336 will be a no trade zone. and once we break 18234 we can short with 50% of our position size and add quantities once we go below 18207. The targets to look forward shall be 18155. Price sustaining below 18155 will open up big targets till the old buyer reference at 17989-18024.
BANK NIFTYImportant Levels for 24/11/2022.
A small gap up to open with, and first 15 minutes of good buying and then we were stuck inside a 30 point range throughout before the volatility kicked in. The data from OF suggests we can say late buyers are trapped in the zone marked 42795-42861.
For tomorrow, if at all we see an opening between 42795-42861 and we see sellers coming in we can short the index with SL of 50-60 points for targets of today's buyer reference zone 42650-42683. Price sustaining below it can test 42600 and today's low @ 42552. But if we open flat and break the buyer reference zone, it would be wise not to take shorts there as the first candle today had good buying and there is a high chance that the levels will be defended the first time it comes there (not advised to take longs in these ranges also).
For us to take longs, we need a gap at the open. If it opens with a gap up, and moves above today's high longs can be considered. Or else if we open with a gap down inside or below the range of the first candle of today we can take a quick trade with SL of 42550 and look for atleast 1:2 rewards.
BANK NIFTYImportant Levels for 23/11/2022.
We are for some reason having very less volumes for sometime now and everyday in the last our some volumes are coming in and taking prices up. We closed inside the seller reference zone 42489-42543 and unless we break this zone, longs cannot be taken. Similarly for shorts unless we break 42392 and close below it in a 15 min time frame, shorts should be avoided.
Longs taken above 42543 can give SL of 42480 and look for targets of the higher seller reference of 42636-42660. Price sustaining above it can take prices upto 42900. All we need to do is then trail our SL.
If we open higher near the seller reference mentioned, we can take shorts with SL at 40-50 points and look for targets of 42516 followed by 42440 and 42392.
NIFTYImportant levels for 22/11/2022.
Barring the first 15 min candle, the index was stuck inside a range of 30 points only. In the last 45 mins we saw some volumes coming in to defend the lows but it is not that extraordinary to make our views clear.
Currently we are placed exactly at the monthly POC and unless we move out of the VA we are expecting sideways movement. The monthly VAH is at 18220 and VAL at 18127. But with the kind of selling we witnessed in the first 15 minutes, I personally would avoid longs unless we trade above 18255. Once we sustain above 18255, we can see price reaching the seller reference zone 18326-18370.
If we open around 18255 levels we can do a quick scalp on the short side for targets of 18190,18160 and 18123. SL to be trailed aggressively. Any open between 18160-18220, we shall wait and not take any positions.
If we open flat and break today's low @ 18155, we can short for targets of the buyer reference zone 17989-18024. But if we open flat and find support at 18155-18170 levels we will not be taking any trade and wait for our levels to come.
BANK NIFTYImportant Levels for 22/11/2022.
The index is stuck inside a small range and absence of big volumes is making it difficult to take intraday positions. The buyers are not showing intent at higher levels and sellers not ready to sell at lower levels.
For tomorrow if we open flat and move above 42385. we can take longs with a 50-60 point SL and look for targets of the seller reference zone 42489-42583. But if we open with a gap up around the seller reference zone, then we can take shorts and aim for targets of 42262-42290. In case we see an opening between 41290-41380,which is the weekly composite VA and also the composite VA from 04th November it is strictly advised not to open new positions and wait for either of the range to break.
If we see price sustaining below 42260, we can see the old buyer reference zone 42141-42175 being tested. On a positional point of view, sustaining below 42140 the buyer reference of 41637-41732 can be the potential targets.
NIFTYImportant levels for 18/11/2022.
Another inside day coupled with low volumes. If we look at the chart staring from last friday till today, it can be clearly seen that today's last two candles have huge volumes but if we do not consider the liquidity created in the last two candles it was a very low volume day. The high made was 18473 where we saw a large lot order being executed but barring that major sell volumes came in at 18425 levels. Also it is to notice that we have closed at a buying reference area but well below the composite VA.
For tomorrow, if we open flat and find rejection between 18380-48425 then we can short with a 15-20 point SL for initial targets of 18319. Price breaking and sustaining below 18319 can see a big sell off till the old buyer reference zone 18176-18220.
Longs we can avoid for tomorrow. If we get any good RR for intra longs, will update.
BANK NIFTYImportant levels for 18/11/2022.
It seems big players are on a holiday mode as we witness another inside day with low volumes. We tested the upper seller reference zone and saw a sell off but we closed well above the buyer reference zone. So it can be assumed that the buyers are not interested to buy at higher levels but are doing a good job defending old buyer reference zones.
In the fall that we saw in the last hour, although the high made was 42660, big volumes came in at 42540 levels as per orderflow. So tomorrow if we open flat and move above 42540 we can again see the price reaching 42636-42660 levels.
Similarly, if we open flat and see price getting rejected at 42540 and sellers coming in, then we can short with SL at 42600 for initial targets of 42423 followed by the buyer reference zone @ 42279-42336. Price sustaining below these references can also test old buyer references of 42141-42175.
NIFTYImportant levels for 17/11/2022.
Another inside day with slightly better volumes as compared to last two sessions. The buying reference zone from last session from where the fast up move was seen got defended and we witnessed good buying from those levels. But we being unable to move past PDH @ 18488, still shows that sellers have not given up [ completely.
For tomorrow, we will still be wary of taking shorts unless we witness a major gap at the open. If we open high near the old seller reference zone 18521-18543, we can expect a sell off till today's VA @ 18445-18461. And if we continue seeing selling pressure we can expect to see today's low being tested followed by the buying reference zone 18347-18364.
If we open low and break today's low @ 18387, we can take a small scalp till 18347-18364. Sustaining below the weekly low @ 18319, we can see a big sell off and we can even test old buyer reference at 18176-18220. But if we open flat and trade lower please avoid shorts.
For longs, the best trade would be if we open with a small gap down around the buyer reference zone 18387-18404. This would be a good entry with SL of 15-20 points for targets of 18445-18461 followed by 18490 and final targets of the old seller reference zone at 18531-18543.
Overall we have to wait and see where we open tomorrow and plan trades accordingly. It can be a tricky expiry in Nifty.
BANK NIFTYImportant levels for 17/11/2022.
We opened almost flat and stayed thereabout throughout the day, the limit buyers absorbed most of the selling and we closed inside today's VA just at tomorrow's closing price.
For tomorrow, if we open flat and move above day's high @ 42666 we can see a good rally of 200+ points, else if we see a minor gap near to the buying reference zone 42394-42461 and see buyers volume coming in we can take longs with a 50-60 point SL for targets of 42636-42666.
For shorts, it is best to avoid any pre assumptions as the buyers are still strong. Small scalps can be taken if we sustain below 42394. Safe traders can avoid shorts for tomorrow.
NIFTYImportant levels for 16/11/2022.
We witnessed heavy buying volumes in the last 30 mins and tomorrow if we see any flat opening, any dips till 18430 can be bought and with a SL of 25 points we can trail our long positions for targets of the old seller reference zone 18521-18543 followed by 18592.
Shorts can be taken only if we see a big gap up and open near the seller reference area, this would be low probability trade so safe traders can avoid this.
Expecting tomorrow to be a trending day and a new ATH this expiry looks a possibility.
BANK NIFTYImportant levels for 16/11/2022.
We traded exactly like the previous day with the exception being we sustained the Breakout. The daily volumes were not good but the last hour did see good buying volumes.
For tomorrow, if we open flat any dip till 42394 can be bought with a 40-50 point SL and we can look for targets of 42600 and 42900. The SL should be trailed as we do not have any upside reference.
In case we see a major gap up, we can see some profit booking but if we manage to sustain the gap we can expect a good trending day.
Shorts can be avoided for tomorrow.
BANK NIFTYImportant levels for 15/11/2022.
An inside day with very low volumes and we did not break any support or resistance levels. The view for tomorrow still remains the same, we can be comfortable shorting the index once we open flat and trade below 42053 levels. The targets to look forward shall be the buying reference zone 41657-41732 followed by the older references of 41400-41487.
At CMP, we can look for longs only above 41432 with a 50-60 point SL and look for RR of more than 1:2.
If we see a big gap at the open, will look for scalps as per the data coming in and will update here as the day goes on.
NIFTYImportant levels for 15/11/2022.
A day with very low volumes and in the closing moments we just broke the buying reference zone buy eventually closed inside it. With the weekly VAL at 18360 and a buyer reference area @ 18328-18340, shorting wont be a good option.
We can short only if we break 18328 and sustain below it for targets of 18176-18220. If we see a gap up around today's high @ 18440-18455 and see sellers defending, then we can short with a 15-20 point SL for targets of 18370-18385 followed by the buyer reference of 18328-18340.
Longs can be taken as scalps at around 18328-18340 areas with targets of 18427-18440. Also we can take longs if we break out from today's range for targets of 18521-18543.
NIFTYImportant Levels for 14/11/2022.
This index is at an important zone and we have managed to close marginally above all VAs but it cannot be said with complete confidence that buyers are pulling the strings.
For Monday, if we see a flat open and we have a small dip till 18422, w can take longs with SL placed at 18400 for targets of the seller reference zone 18521-18543. If we miss the entry we can again take positions once we trade above 18450 for the same targets.
With multiple supports nearby, we can short only if we see a big gap up at the open near the seller reference zones for targets of 18440, yesterday's VA 18374-18384 followed by 18328-18340. If we open with a gap down between 18328 and 18384 levels, we shall look to see if the buyers defend the zones and take longs if we see buying volumes coming in and if we break PDL @ 18320 then we can also short.
Will update if I witness any massive shift of sentiment, unless that happens buying the dips looks a wiser option.
BANK NIFTYImportant levels for 14/11/2022.
The index looks bullish with such a big gap up being sustained and relatively lesser selling volumes.
In case of a flat open on Monday, we can wait for PDH @ 42438 to be cleared and then take longs with a 50-60 point SL and look for RR of minimum 1:2 and the keep trailing our positions as we do not have any upper references to look forward. Another instance where we can take longs is if we see a gap down open followed by buying @ 42050 levels and here we can look for targets of 42330 and 42440.
For shorts we can short comfortably, if we open flat and move below 42050 levels. The targets to look forward shall be the buyer reference zone 41657-41732. Sustaining below this can test older buyer reference zone 41400-41487.
NIFTYImportant Levels for 11/11/2022.
Definitely the weaker one of the two indices. At CMP 18097, we are at a crucial point, considering the VP from the start of this contract, we traded entirely below the VA but considering the VP of last week, the VA has just shifted down and once we move and trade above today's high @ 18150, we can see a clean 100 point move on the upside. Longs can be taken at 18150 with 18130 as SL for targets of the seller reference zone 18240-18290.
But if we witness a gap up, then would avoid longs and see how volumes pan out and plan positions accordingly. If we see sellers coming in then we can short for targets of 18090-18100.
BANK NIFTYImportant levels for 11/11/2022.
The initial part of the day was well in control of the sellers but limit buyers kept the prices close to Friday's low and then after the buyers came in control and we almost managed to close at VAH today,
For tomorrow, if we see a flat open, we can take longs anywhere between 41700-41750 for targets of the previous seller reference zone 41898-41961 followed by 42037-42098 levels. In case we witness a small gap down and do not break today's low @ 41470 and sustain above it, there is a high probability of price testing 41750 and above levels. This would be an wonderful trade as per RR. SL here shall be strictly 41560.
For shorts our best shot will be only if we open with a gap up near the seller reference zone for targets of 41700-41750.
