JJSingh

On Friday's there is a general expectations for sideways market. The range is good enough though. Beyond this range would need a reassessment.

If I consider move from Jul 2 to 7 as a breakout of trend channel and waiting for a pullback, then yesterday's bearish move is not something that convinces me to go long. This is not a kind of retest I like to trade. No doubt that today it is holding but it would need more evidence like another test of 23800 or so to decide what to do. If price fails to sustain near this level, further downside to the bottom of the channel could be a possibility.

A typical range bound scenario- Nif Fut Price reacts from resistance and then starts consolidating at the lower end. Another range developed from 24000 to 24150. If it holds here and breaks out then upside possible. or else the range would stay for more time.

Saving capital is the biggest task on such a day. Market chops on both sides.

Today is a dangerous session. Morning pull and then going sideways. Can't rule out gamma bursts on such days/expiry. The idea is to control the risk.

https://www.tradingview.com/chart/BTCUSD/qRVL76Lp-BTCUSD-Repeating-80-Cycle-Again/?social_toast=true BTCUSD analysis

Mkt still looking for direction in the medium term

I always prefer to trade Ideal scenarios in case of breakouts. Weak breakouts always stops you out. But this one is holding after the flush out.

Always notice where you are buying or selling- support or resistance? And then manage your risk accordingly.

There is some selling pressure near 24k psychological number. Mkt ll try it's best to cross it. I see a structure resistance at 24050.

Call option buyer with no SL psychology.

A Put option chart mkt hits option sellers and then option buyers. All this happening in the first 15 minutes. Generally, you will notice that as an option's trader, most of your losses would pile up in the first 20-30minutes. This is because of highly volatile environment and nature of options. Its best to rather wait for consolidations to understand what is happening- are buyers holding levels or sellers aggressive.

The market has been really erratic after 15 June gapup. It is getting sideways near previous swing high zone near 24100 but buyers are holding it buying every dip. Weak option's movement due to such price action. Op sellers' mkt.

TG is back.

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.