BANKNIFTY--Bull Trap or Bear Trap ??

The index price is still trading in a channel...
will this channel breakout.... or continue it's momentum towards downside....
we are at important zone...i.e 44500 zone...
today price comes almost near to this zone and showed a bullish momentum towards upside...

But we are still having some bullish gap left @44400 level...
if today's bullish momentum is a bull trap, tomorrow price will be bearish...
opens gap down fill the bottom side gap and moves up... or continue fall bottom levels, to grab the liquidity on buyside.

If this a bear trap...still those who are buying puts after a strong bullish momentum puts are available at cheaper price...price will opens again gap up and takes all the liquidity on put side..
fills bearish gap and again falls from that level...

so without confirmation, we cannot say anything ....as per the price movement it is in a channel.so we are taking any decision after breaking this channel...

Will see what happens in the upcoming session.

If this is helpful...please do follow and give a like.....
Thank you guys...those who are supporting me...
Have a nice weekend.

ความคิดเห็น:

yesterday price broken the small trendline strongly...we will wait for the retest to this area before long...if continuation bullish is observed will wait for a pulllback.

ความคิดเห็น:

Price retracement is done...we will take long entry....after a break of today's high...keep in mind 45000 is a key resistance...

ความคิดเห็น:

Risky traders enter long here...

ความคิดเห็น:

If trendline has failed to move the price up...will be short side.....i will wait for short entry...

ความคิดเห็น:

Keep your targets to day high....40500,40050 and 40100.

ความคิดเห็น:

in higher time frame price action is still in range....

ความคิดเห็น:

Price starts ranging...

ความคิดเห็น:

Safe traders keep change your stop loss to day low...Risk ones keep with me until targets.

ความคิดเห็น:

Bulls exhausted or bullish initiation

ความคิดเห็น:

now this is the time to book some profits....that level is constantly...rejecting...
safe ones exit few carry remaining...

ความคิดเห็น:

ความคิดเห็น:

I am moving my stoploss to day low....if price cannot break high sellers will take the price strongly downwards....keep safe.

ปิดการเทรด: ถึงเป้าหมายการทำกำไร:

Target 1 of day high is done

ปิดการเทรด: ถึงเป้าหมายการทำกำไร:

Target 2 is also done

ความคิดเห็น:

price has broken the trendline and retested....so enter long...Targets on upside is done...

ปิดการเทรด: ถึงเป้าหมายการทำกำไร:

Target 3 is also done...

ความคิดเห็น:

safe traders exit their long, before strong sell off comes...

ปิดการเทรด: ถึงเป้าหมายการทำกำไร:

All targets are done....

ความคิดเห็น:

Bearish Gap is Filled...on upside.