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Saishayu Option Scalpers Educational Breakout V/s Fake-out

Breakout V/s Fake-out

… Trading without Indicator continued

How do we Identify or validate whether such candles are going to impact intraday trend positively? Here are my answers –

  1. Always look at a major TF- i.e. hourly, Daily & Weekly. Yes, I follow weekly & Daily charts to identify levels of intraday trades.
  2. In above chart, there wasn’t a follow up though there was such a huge surprise candle.
  3. In absence of follow through candle, we had almost 4 inside bars- all are either RED candles are on having wicks on upper side. This indicates there is strong rejection of price at this rise.
  4. Let’s also look at Daily TF –
Daily TF Analysis, gives un a fair idea of possible price action. Follow it with candle by candle & you’ll get used to soon to identify price movements. This homework habit will save your hard earned money & calm your emotions during intraday !

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