Pathik

So today we will discuss two more price action setups to get good long side trade for intraday.

1. PDC Acts as Support
2. PDH Acts as Support

1. PDC Acts as Support

In this setup after gap up, in first our of trading session price approaches PDC but fails to break below PDC convincingly.

Once this condition is ready then all we need to do is place buy stoploss order above "hourly high" with stops below DAY LOW.

Close trade : Either at SL or at 3:15

Couple of examples of the above setup given below.

2. PDH Acts as Support

In this setup after gap up, in first our of trading session price approaches PDH but fails to break below PDH convincingly.

Do your own work on the setups.

Add couple of more indicators if you need and refine the strategy as per ur conviction.

Without own efforts no setup works.

So put down your efforts and practice.

PDC : PREVIOUS DAY CLOSE (OF DAILY CANDLE)

PDH : PREVIOUS DAY HIGH.

I have two different setups to trade on open=high/low.

One i have already shared which is open drive.

If i don't get open drive and i trade second setup, implementation is same as open drive but one condition is change.

(1/2)

Conditions for second setup

1. Open = high for sell &amp; open = low for buy.

2. 1st 15 mins candle close &lt; PDL for sell &amp; &gt; PDH for buy.

Implementation remains same as open drive once above two conditions gets fulfilled.

(2/2)

https://chartink.com/screener/oh-ol-31

Scanner for the above said setup.

Already explained strategy of #opendrive

Backtested results in 30 stocks and nifty, banknifty.

Success ratio : approx 40-45%

RR average 1:2

Entry as per strategy
Stoploss = Open level
Exit 3:15 PM Or SL

39 months 14 months -ve, 25 +ve

Yearly all 4 years +ve performance. 

Backtested with help of @pavankulkarni 

Thanks bro for doing this tough task, although you love such things.😀😀😀

Cheers🥂🥂

#ReversalSetup
80-20 setup

I am going to share one high probability reversal setup for swing traders.

Before i explain setup below are few rules.

● Stock should have body of nearly  1% on Previous Day.

● For INDEX Body should be more than 0.5% on previous day.

(1/n)

Rules for Sell

1. On previous day underlying should have opened in lower 20% of the day range and should have closed in upper 80% of the day range. 

2. On current day in first hour of the trading day stock should have crossed PDH.

(2/n)

3. once it make new high in first hour place sell order below PDC with STOP of Current DH.

4. Intial targets for swing trades can be 1:2 RR then trail your stops.

(3/n)

Rules For BUY

1. On previous day underlying should have opened in upper 20% of the day range and should have closed in Lower 80% of the day range. 

2. On current day in first hour of the trading day stock should have crossed PDL.

(4/n)

3. once it make new high in first hour place buy order above PDC with STOP of Current DL.

4. Intial targets for swing trades can be 1:2 RR then trail your stops.

(5/n)

PDH : PREVIOUS DAY HIGH
PDL :  PREVIOUS DAY LOW
PDC : PREVIOUS DAY CLOSE
DH : DAY HIGH
DL : DAY LOW

(6/n)

Do some paper trades before implementing this setup.

Trade on standard stocks only, which has great volume.

(End of thread)

#SBIN
#GRASIM
#HDFC
#INDUSINDBNK

80-20 REVERSAL SETUP

SELL BELOW PDC (PREVIOUS DAY CLOSE)

SL DH (DAY HIGH)

REFER GRAPHS 

#OpenDrive
#intradaySetup

Sharing one high probability trending setup for intraday.

Few conditions needs to be met
1. Opening should be above/below previous day high/low for buy/sell setup.
2. Open=low (for buy)
Open=high (for sell)

(1/n)

How to implement?

1. Let first 15 minutes candle give close.
2. Buy above 15 minutes candle high / sell below 15 minutes candle low.
3. Stoploss should be 0.3-0.4 below support (for buy)/above resistance (for sell)
4. Exit as per Pivot points (trail stops after R2/S2).

(2/n)

PERFECT EXAMPLE BELOW

ICICIBANK 16-4-2019 

https://x.com/Pathik_Trader/status/1130323812996636673?s=19

#TrappingInsideBar
#positionalSetup

Guys many of us have faced stoplosses many a times when we trade INSIDE BAR STRATEGY.

So to get very few refined setups i have made new setup which will give us few trades but quality trades.

Details below

Examples as nd when i get ll give 

https://x.com/Pathik_Trader/status/1143832828817264640?s=19

#FakeParadise
#ReversalSetup

Before i share this setup, let me tell you this is not a easy setup to trade without deep understanding.

So let's discuss the setup and what does it mean!!

(1/n)

Rules For Sell

1. New 20 period high should have been made today.

2. Previous 20 period high should have been made minimum 3/4 days before.

3. Close above previous 20 day high or not is optional.

(2/n)

How to implement?

1. Once we get new 20 period high stock, on same day/ next day we place sell stoploss order few ticks below previous 20 period high.

2. Stoploss : few tick above Latest high

3. Target : 1:5 R:R achievable (trail stop after 1:2 R:R)

(3/n)

Rules For Buy

1. New 20 period low should have been made today.

2. Previous 20 period low should have been made minimum 3/4 days before.

3. Close below previous 20 day low or not is optional.

(4/n)

How to implement?

1. Once we get new 20 period low stock, on same day/ next day we place buy stoploss order few ticks above previous 20 period low.

2. Stoploss : few tick before latest Low

3. Target : 1:5 R:R achievable (trail stop after 1:2 R:R)

(5/n)

Meaning of setup:
● We are selling on new highs &amp; buying on new lows in this setup.
● Many times retailers get trapped by buying on new high &amp; selling on new low, to find such kind of trap this setup is useful.
● This is the reason we have renamed it to "Fake Paradise".
(6/n)

#RELIANCE

The best one, never seen that price back on screen after this. 

This setup is not high probability setup but yes this setup has excellent R:R ratio.

Do paper trades before jumping into real game.

It will take really good efforts from your end to understand the setup.

@sanstocktrader @Stockengg @CAtLarge @nifty_baba @ravi_mehata88 do share to spread awareness and to spread learnings.

https://chartink.com/screener/fake-paradise-by-pathik