One of the many types of candles is 'Strong' candle.
Here's a super setup with a ~70% win rate & very high R:R for Options Traders.
Name of this setup is - FSC.
🧵
One of the many types of candles is 'Strong' candle.
Now if this candle forms in the first 5 min of the day, it's called FSC - First Strong Candle.
Instruments - Can go with Options, Futures or even cash. Remember this is an Intraday strategy.
This strategy has given trades even upto 10:1 R:R. But you should never forget about Risk management.
For Longs - prefer the stock with FSC at PDH (Previous day's High)
For Shorts - prefer the stock with FSC at PDL (Previous day's Low)
See the examples attached.
Now, there's a problem..
For solving this problem I have made scanners, which give results like this.
All you need is to run them & enter that stock with proper Risk management.
Want to get them?
Simple...
(Twitter allows DM to only followers, so make sure you follow me @CnceptualTrader )
Also, comment if you want a thread on how to trail SL using PA-Pivots.
https://t.co/dh7YKHj6Tp
Here's a super setup with a ~70% win rate & very high R:R for Options Traders.
— The Cnceptual Trader \U0001f1ee\U0001f1f3\U0001f1ee\U0001f1f3\U0001f1ee\U0001f1f3 (@CnceptualTrader) August 19, 2022
Name of this setup is - FSC.
\U0001f9f5
More from The Cnceptual Trader 🇮🇳🇮🇳🇮🇳
Here are 16 Free & powerful Scanners for Traders.
🧵
1. NR7 breakout scanner -
NR7 is a great concept using which you can identify the potential breakout candidates.
For details on NR& concept refer to this thread - https://t.co/EgC9h77bLl
Here's the scanner -
2. Volume & price shockers -
This scans the stocks that have seen a sudden rise in their volume by over 2x times the average volume of last 10 days and have gained or lost more than 5% today.
Great candidate for breakout /
3. 15 min breakouts -
These stocks have shown a rise in both prices as well as volume in the last 15 min. High chances that they will continue the rally
4. Engulfing Candle scan -
This scans the stocks which are in extended up/down trend & have formed Engulfing candle now. They are a great candidate to take reversal trades.
Bullish engulfing - https://t.co/4pOosoeMsL
Bearish engulfing -
🧵
1. NR7 breakout scanner -
NR7 is a great concept using which you can identify the potential breakout candidates.
For details on NR& concept refer to this thread - https://t.co/EgC9h77bLl
Here's the scanner -
2. Volume & price shockers -
This scans the stocks that have seen a sudden rise in their volume by over 2x times the average volume of last 10 days and have gained or lost more than 5% today.
Great candidate for breakout /
3. 15 min breakouts -
These stocks have shown a rise in both prices as well as volume in the last 15 min. High chances that they will continue the rally
4. Engulfing Candle scan -
This scans the stocks which are in extended up/down trend & have formed Engulfing candle now. They are a great candidate to take reversal trades.
Bullish engulfing - https://t.co/4pOosoeMsL
Bearish engulfing -