Nifty Futures Monday session started with less of an excitement. Monday morning has broken Friday’s low however trading continues to be lackluster and activity started balancing around 11960-11980 levels. Very less amount of excitement is seen on Monday trading session from market participants.
Investopedia says, “A Renko chart is a type of chart, developed by the Japanese, that is built using price movement rather than both price and standardized time intervals like most charts are. It is thought to be named after the Japanese word for bricks, “renga,” since the chart looks like a series of bricks. A new brick is created when the price moves a specified price amount, and each block is positioned at a 45-degree angle (up or down) to the prior brick. An up brick is typically colored white or green, while a down brick is typically colored black or red”.
Both Major macro announcements GDP & RBI Monetary Policy Announcement is over. At this point markets reacted moderately negative to both of the macro events. And to everyone surprise, RBI kept the Interest Rate unchanged.
In this Option Hydra – Market Profile live trading room, we discussed how to approach an event trading day like RBI Policy announcement and How to spot immediate support/resistance for short term trading. How to understand the market context & associated traders’ behavior.
Virtual trading provides an opportunity for traders to test their strategies and market analysis to see how trades might have played out. While live, real-time market data is often used for paper trading, it is conducted in a simulated account so there is zero monetary risk. In this article, we will see how to use the virtual trading functionality of Ninjatrader 8 with manual trading.
Nifty Futures on Tuesday trading session rejected the Monday Prominent POC and broken two day low. And Short term trend reversal is witnessed with overhead resistance around 12120-12140 levels.
Learn the nuances of trading/investing strategies, the art of chart reading and picking up high probability trades. It is an educational workshop for active traders focused on how to pick low-risk, high potential entry points for your trade.
Gold has been trading in a sideways mode since Aug 2019 and it been 4 months of sideways price action. However, Friday rally in Gold brings a potential trend reversal with short term trend & Trading sentiment turning positive.
Listen to our live trading room this Thursday and learn to understand the market and how to prepare for RBI Policy meet on 5th December 2019 which is expected around 11.45 a.m
Nifty Futures on long liquidation phase on the first half of the Friday trading session and the second half is more focused on balancing around 3 days low. The day ended with a failed 3-day break and the price managed to close above the single print zone 12080 levels near to EOD.
Nifty Short term trend continues to be in a positive zone with an immediate single print support zone comes around 12080 and 12125 levels. However first week of December series is likely to be a cautious uptrend as macro events like GDP Announcements & RBI Policy announcements are nearing
As discussed in the Option Volatility Strategies Webinar, Long Straddles option strategies are not frequently used trading strategies due to the nature of premium decay in options. Long Straddles can be initiated when the trader is expecting a sudden surprise price action (most during events) or strongly implied volatility pickup, Near to Expiry with potential Gamma price action moves.