Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

NVK Setup – Intraday Trade Setup

33 sec read

NVK Setup is a intraday trade setup which is a popular trade setup among icharts members

 
The set up for Long trade:

Price is making a double bottom or even slightly lower low.

RSI is rising.

1st Entry – near the 2nd low seeing the RSI +ve div

2nd Entry – when price Trendline is broken

SL – 5-8 points below that double bottom lows

So the first entry is only having SL of 5-8 points and 2nd one maximum around 15 points.

Profit Booking – The target is always a new days high or when we get closer to that.

For Short trade set up – it is just reverse……

the trade should be ignored if otherwise

1) the double bottom/top should occur within max 1 hr.

2) the peak/trough in between shouldn’t be a day’s high/low.

3) In between the double bottom/top – there shouldn’t be RSI crossover of 50

Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

NVK Setup – Intraday Trade Setup

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8 Replies to “NVK Setup – Intraday Trade Setup”

  1. Hello Rajan Sir
    I am a regular visitor/reader of marketcalls. I must congratulate u on the great work you are doing by keeping everyone updated with market and educating traders. I need asmaal help from ur side. I am looking for a intraday trading strategy with high success rate on mt4. Kindly guide me on the setup/indicators to be used.
    Thanks

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