LoneWolf's Intraday and Swing Trade Diary with Volume Price Analysis

[aja]

@primitivetrader I think you are vsatrader1. Nice.

Bhai,as you know very well about vsa stuff and found out that LoneWolf is doint it wrong then dont you think you can correct/point out the mistake by just uploading a chart.Yeh sabke liye achha rahega instead of writing a long post.
Rest your wish.

 

[LoneWolf]

BANKNFITY Intraday analysis
.....
For now intraday trade direction is SHORT and any bounce need to be watched for dominance of bears over bulls.

The Morning gap up gave this waited correction without changing the trade direction.

At A = there are two inverted hammer making low close and above average volume suggesting dominance of bears in these upper levels, and strong bears are absorbing the demand. SHORT below 1st 3M bar low.

At B = A bullish hammer, mid close, volume is above average, and price rejected the Previous day close, could be a stopping volume after this fall from 2DH, This suggest bearish sentiment is somehow weakening and some demands are coming in to the market. This effort need to produce the result. Next bar is a lower close bearish inside bar, volume is below average indicating lack of supply. This is then followed by an effort to fall, A strong bearish bar closing at its low, and very high volume and price also went below PDL.

At C = After the break of PDL, through an effort to fall by bears, there is a high close bullish bar on below average volume. A no demand bar. This indicates the weak demand seen at PDC is already absorbed and no fresh demand is coming on to the market after PDL is taken. This gives confidence to hold on to the SHORT and the effort to fall is expected to yeild more result.

At D = Stopping Volume, Ultra high volume on a mid closed bearish bar making new low. Demand is coming to market. Then there is an another effort to fall through a low close bearish bar with above average volume. But next two bars suggests the strong demand and weakening bearish pressure. A mid closed narrow spread doji on above average volume (Price volume anomaly) followed by a bullish bar with high close and above average volume. The supply deamdn equation shifted more to demand side here. Time to book profit and wait further till bulls and bears test each of their forces for further trade direction.

SHORT = 25648, SL = 25691, Exit = 25510, Win = 138 Points.

At senior and other traders, can you please guide if there are any location where an Add could have been taken in this morning fall ??

 

[LoneWolf]

2nd Intraday SHORT

At A = After the stopping volume at A, price rallied as selling pressure has substantially decreased. After a series aof consolidation price started rising and effort to rise bars were see,

At B = Price headed in to the previous demand (now acting as supply zone). A congestion followed after an effort to rise. A violation of Wyckoff's 3rd law of effort vs result.

At C = An inside doji bar, very narrow spread and range on above average volume. Price volume anomaly is seen. This is followed by an effort to rise and a dark cloud with above average volume indicating a bull trap above the congestion. Demands above the congestion are being absorbed. At D a no demand bar is also seen. SHORT below D, low

Price kept declining under lack of demand. There were two instances where attempts where makde to mark price higher, but they were immediately terminated by selling pressure violating the 3rd law of effort vs result.

At E = Bearish sentiment seems to be weakening as new intraday low was made. There were two bearish WRB leaving some lower wick on above average volume with a bullish bar on high volume in middle. Some demands are coming in. Tightening of SL. Need to see the subsequent bars for confirmation. But the following bars produces narrow ranged bullish bar on below average volume. This indicates that the demand at E are not buying pressure but could be early profit booking. Then volume started picking up as price declined further

At F = Price made new intraday low, but the bar prior to F was a low close bearish bar, with narrowing spread and on above average volume. Price volume anomaly is seen. Bearish sentiments are decreasing. This is followed by a climatic volume, A high close bullish bar on above average volume. Tightened the SL

At G = SL hit and exit, This also produced another low close bearish bar (making new intraday low) but volume was below average. Clearly selling pressure has dimnished.

======================================================

I could not capitalize on this SHORT trade as my GFDL subscription was giving frequent feed disruption. Bars were forming delayed and also were changing frequently after sometime. So reading bars and volume were not possible. I switched to my broker's web chart, but there 3M chart was not an option. Had to let go of this SHORT.

SHORT = 25540, SL = 25580, EXIT = 25386, Win = 154 points. This short trade would have been worked wonderfully as there were opportunity to add to SHORT.

 

[LoneWolf]

I wont be trading today, has some personal work and wont be here at terminal. Will check the market in evening. But from yesterday;s price-volume relation it seems that some more downside is left.. Intraday trade direction remains SHORT

 

[XRAY27]

Just have to use the logic of VPA from market !!!

 

[LoneWolf]

November 9, 2017 - Thursday Trades

At A : On previous day climatic volume was seen below 25.3K and in 25.25K level. On Thursday price opened on bullish note but bullish sentiment gets weakened near A, and supply demand equation tilted towards more supply side. I was expecting price to reach the supply zone of 25.5K, but price did not reach there. So I waited for a 3m pivot low to crack for looking on to SHORT trade.

At B : An effort to fall as 3m pivot low is cracked, this is then followed by below average volume and narrow range bullish correction bars. Entered SHORT on weakness to this correction.

At C : Price kept falling towards demand zone after a hour long consolidated narrowing range. At C, a bearish bar closing at its low with above average volume is seen. This is followed by a small range inside bar doji, but volume is above average. Price volume anomaly is seen. SL is tightened to WRB at C's high. Three more doji bars followed with above average volume showing indecision. Subsequent bars showed some low volume bullish bars making a shallow correction

At D ; Price reached the demand zone for a 2nd time. A bearish bar with narrow spread and leaving a lower tail on high volume shows weakening of bearish sentiment. A test of supply is done after two small bullish bars (supply is being exhausted). I exited my SHORT there.

At E : Price bounced from the demand zone, as bulls started dominating the bears. Intraday trade direction shfted to LONG. This is followed by a congestion.

At F : Price approached the congestion bottom and a small bullish hammer is made after a series of bearish bars on above average volume and closed at high. This suggests buying at the congestion low. On next two bars no supply is seen. Entered LONG above the bar with a SL at congestion low. Price eventually took out the congestion high and closed at a new intraday high. Through out this rally there was continuous supply pressure coming from 25.4K level, So managing this LONG trade was a challenging one. But bulls always defended the higher lows and kept buying.

Trade 1 : SHORT 25384, SL 25400, EXIT 25296, P/L = 88 Points
Trade 2 : LONG 25344, SL 25310, EXIT 25448, P/L = 104 Points.

 

[LoneWolf]

10 November 2017, Friday Trades

At A : On previous session price was heading towards the supply zone, bar's range and spread was getting narrower and volume was increasing. This had already suggested the weakness. On friday morning, price fell with an effort to fall in the opening bar. This is followed immediately by a bullish WRB with above average volume. Bulls are trying to defend the opening bar's low and this marked the trading range for next 2 hour

At B : Price headed towards the trading range top and previous supply zone. Bar's range and spread were small. No bullish conviction was seen for any impending breakout. At B, a bullish WRB formed but closed at middle, volume was above average. Upper wick suggested weak bullish sentiment. This is followed by an inside bar doji of small range but above average volume. Price-volume anomaly is seen. Then there is an effort to rise as another bullish bar closing at its top with high volume was seen. Over the subsequent bars price kept falling on below average volume. (A violation of Wyckoff's 3rd law and the effort to rise did not produce the result). But below average volume on bearish bar also suggested smart money are not interested in selling here.

At C = Volatility increased as seen on frequent wide range bars and above average volume bars. An effort to fall is arrested by two high close doji on very high volume and leaving a large lower wick, suggesting strong dominance of demand below 25.4K level. A LONG trade opportunity was there above the congestion that followed. Price then bounced and started trading above the supply zone. Exit was when the buying climax is seen.

I could not take this LONG and I failed to read the setup in real time.
LONG at 25454, SL = 25420, Exit = 25588, A quick and very profitable trade, but unfortunately I missed it.

After the buying climax price quickly reversed as well, as there was a swift change in hand from buyers to sellers. Aggressive SHORT was below 2PM bar. Another SHORT re-entry opportunity was there on no-demand bar at 2:20 pm. The sell off was qucik and sharp. At 3PM, a bearish WRB on very high volume was seen after a sharp sell off. An effort to fall, followed by bullish bars on above average volume. End of the move was seen. and Exit above the WRB high.

I missed the reversal SHORT as well. SHORT at 25558, SL = 25628, EXIT = 25331
===========================================================

I was little upset for missing out the earlier LONG, and did not see the quick reversal SHORT coming. This is why its told to get over of the previous trade as soon as its over ( no matter if we make money or loose money), Cause we never know when the next opportunity is around the corner, and that might get over again before we know it. I recalled Xray's post on reading the chart as if we have no positions at all even if we are in a position is a key to self mastery. I got too attached to price movement and I paid the price as I failed to take control over emotions..

 

[LoneWolf]

13 Nov 2017 : BANKNIFTY Intraday Analysis

On last trading session BANKNIFTY traded above the previous trading range of 25.5K and 25.3K but strong supply was seen above 25.65K (below 25.7K). The sell off met with a climatic volume below 25.4K level. (Is it to be interpreted bullish as demand zone is rising ?? ).

Immediate trade direction is on LONG side following the selling climax and subsequent bullish bars, but need to be careful on any LONG trade here minding the supply zone near PDH and 25.7K level.

Note : I will start swing trade in BANKNIFTY live from today along with intraday trading.
For now, no open positions.

 

[bubble87]

13 Nov 2017
**snip**
Note : I will start swing trade in BANKNIFTY live from today along with intraday trading.
For now, no open positions.

Good luck for live trading, LoneWolf. Your previous thread and questions that you asked have been very helpful to all newbies.

Go Get 'em
B87

 

[LoneWolf]

A complete range bound day yesterday.. No high probable intraday trade opportunity.
Swing Position = NIL