7 most Powerful Intraday Setups that will save you hundreds of hours + change your trading career (all FREE)

Thread 🧵

(1/N)

Precautions:

1) Always backtest the ideas before using them in live markets. It gives confidence and conviction.

2) Always keep your risk within 2-3% (of your capital) per trade.

3) System hopping is not a good idea.

(2/N)
#1 IB Open Low Setup

When the market opens above/at the previous day's high, displays open-low, and OL sustains for some time.

It indicates the presence of Initiative Buyers.

Entry: Long trade above Open-Low Candle (in 10 or 15 min chart)

SL: Below open-low candle

(3/N)
#2 IB Open High Setup

Similar to OL, when the market opens below/at the previous day's low, displays open-high, & OH sustains for some time.

It indicates the presence of Initiative Sellers.

Entry: Short trade below Open High Candle

SL: Above open-high candle

(4/N)
#3 IB Open Test Drive Up

This is similar to OL, but it opens above PDH, but tests the PDH, negates all selling, and then closes above PDH.

It indicates the presence of Initiative Buyers.

Entry: Long trade above Open Test Drive UP Candle

SL: Below OTD-UP candle

(5/N)
#4 IB Open Test Drive DOWN

This is similar to OTD-UP but on opposite side

It opens near PDL, tests the PDL, negates all buying, & then closes below PDL

It indicates the presence of Initiative Sellers

Entry: Short trade below OTD DOWN Candle

SL: Above OTD-Down candle

(6/N)
Pro Tip:

Every individual is different. Hence psychology comes into the picture while holding the trades

Some can hold only for 5-10 mins, whereas some can hold for a few hours

Hence, a person should pick the system & trading instrument that compliments his personality

(7/N)
#5 IB Failure Setup

In this setup, the price opens above PDH but fails to sustain & closes below PDH in the first candle.

It indicates the absence of strong buyers.

Entry: Short trade below IB failure candle

SL: Above IB Failure candle

(8/N)
#6 IS Failure Setup

In this setup, the price opens below PDL but fails to trade below & shows strong rejection in the 1st or 2nd candle.

It indicates the absence of strong sellers.

Entry: Long trade Above IS failure candle

SL: Below IS Failure candle

(9/N)
#7 Balanced Open

In this setup, the price opens near the middle of the previous range (precisely POC) & spends 15-30 mins

It indicates a balanced open & there is a high possibility of current day range within previous day range

Ideal Setup for Short Straddle Traders!

(10/N)
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(11/N)
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More from Indrazith Shantharaj

"VOLUME is the ultimate Trading cheat code" PART 2

Please read the FIRST Thread Before Reading this!

https://t.co/IV1HrDlzqk

#StockMarket #stock #volumeintrading


#1 Volume Color Can Create a False Illusion

At first look, it looks like a big volume spike.

But if you notice the price candle, it has a big selling wick.

It indicates "SELLING PRESSURE" is high at that time.


We can easily avoid this false impression using the "BLACK" color code across all the volume bars.

Now your mind doesn't assume it is a bullish volume spike!

(If you don't want to use the black color, then view the chart without getting any bias based on the volume color)


#2 Analyze Each Volume Spike Carefully

In this image, the price is breaking the resistance trendline.

How do you say whether it is a genuine breakout or false breakout (from a volume perspective)?


Observe the major Volume Spikes.

A is Bullish (Price moved upside on the next day)

B is Bearish (Price fell on the next day)

C is Bearish (Price moved sideways and fell)

D is Bearish (Price fell on the next day)

So High Probability of FALSE BREAKOUT!

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