Bank nifty lowerTF trading strategyNSE:BANKNIFTY : what explained here is a very short term trading strategy at lower time frame without using any indicator. It is very low risk high reward trading strategy.
Identify the trend in longer time frame, in this example its 1 hour and trend is bearish. Now switch to one minute time frame
1) - Identify equal highs, the area where price failed to move three or more times. Above the highs will be many buy stops of short sellers. Marked as 1
2) - Allow price to move above and grab all those buy stops. An up candle is followed by many negative candle. This confirms trend resumes to downwards after taking out those stops. Marked as 2
3) - Look for imbalance or FVG ( Fair value gaps) look at the inserted picture in the chart if you don't know what is FVG. Marked as 3 and insert 1.
4) - Place the stop above the FVG box. Marked as 4
5) - Take entry when price breaks below the FVG box. Marked as 5
6) - Profit booking at 15 Minutes TF FVG created on 23.02.23 12.30 pm. Marked as 6 and Insert 2
Will teach you on opposite side trade on another occasion.
Do your home work with older chart data until then.
Good Luck
