JJSingh

Mkt trying to chop both the sides.

When you are closely observing the market and following your risk.

Fridays are special 😁

Consolidations and sideways action is the place where big hands accumulate or distribute. It is the place where retail traders lose most of their capital, before the big move.

As I always say that I don't like indicators but here is the only one that I sometimes use as an extra confirmation- its Cumulative Volume Delta (CVD) There are two major events on this chart (this could be any chart). 1. Divergence- Price making highs but CVD not. Generally divergence is not a trading signal but it matters when happening at important levels. Price pulled back after that. Overall trend is up so you can ignore to short. 2. Heavy positive CVD reading with big volume on the chart. Although initially this volume had no effect on the price yet it is positive and the next bar turned positive too. This is a rare buying indication which can take the price to much higher levels and it did. So generally I keep CVD hidden on my chart but expand it near important levels like support/resistance/pullbacks to see what is happening.

It's always best to get stopped out in one trend trade rather than in 5 reversal trades.

Support and resistance have been the best and time tested trading style which works best in a sideways market.

You always have two choices: Low risk (small SL) - no confirmation entries Here you can go wrong easily if you don't know ur setups, but risk is too small and reward may go huge. More risk ( big SL) - with comfirmation Here risk is more but chances of successful trade a generally higher if u know ur setups well. Reward may go medium. It always depends upon the trading style. No style is 100% perfect.

When the trend is down and mkt opens gapdown below support. You wonder if it goes further down or reverse up( as done at previous occasions) In reality nobody knows. The idea is to hold your bias- bearish or bullish and take a low risk trade, as u always do. If it goes in your favor, u make big money. If it doesn't, you should lose a small amount.

mkt rejecting near swing highs, shakes out buyers and holding higher lows. Scenario 1- higher lows hold- interesting to see what it can do near 23650 (future) Scenario 2- A lower low is created- interesting to see what it can do near 23200-250

Although the vix is at 16, the intra candle chop is so high. Trade with caution. Scalps are working. Little wider stops.

Mkt at a crucial zone Make or break

One of those difficult days to trade.

Notice how support and resistance flip their roles. All you have to do is to wait for a decisive break very patiently and then get the retest opportunity.

This is how patience work when market shows momentum in your favor. The choice is always ours, if we want to book 20% or 50% or higher. Depends upon the style of trading and also your yesterday (past experiences).

Its often seen that price develops a range, trades in it for some time, volatility increases, traders get trapped, most option buyers lose money coz of range and then price breaks (up or down) of the range. Its always best to take the bigger picture into view and then decide if this is a buyers' mkt or a sellers' mkt.

How Option seller is at advantage? Theta, price action- range or trending, and other Greeks play their role. See this example- Take 13May lows as reference And next month (Jun expiry options) Index is +650 23400 CE +165 23400 PE -420 Now you decide, who made money 80% of the time. Option buyer or seller? Even when the direction is correct CE buyer would either lose or makes small money. The move index has to super explosive for Premium to explode. But sadly it happens 20% (or less) of the time.

https://www.tradingview.com/symbols/XAUUSD/minds/?mind=8_2bnZzWQsm_aV5lMTYmYA&exchange=OANDA Gold chart reading.

Break and retest. Several questions..that only market will answer.

Low volume moves today. Not a promising day.