Nifty - Current scenario
Key Highlights:
1. Currently in the midway of the channel.
2. Getting constantly rejected from the 18500 level.
3. There are 2 big pools of liquidity on each side. 1 has SL of the SHORTS, 1 has SL of the LONGS.
4. Liquidity = Pending orders in the market. The market moves from one zone of liquidity to the other zone of liquidity.
5. The current scenario is not good from the swing perspective.
6. I am looking at the following 2 scenarios:
i) The price can either sweep below the lows and take out the SLs near 16700-16800 before moving back up.
ii) Sweep the highs near 17500-17600 and fall back to the range low near 17k.
Disclaimer: This is NOT investment advice. This post is meant for learning purposes only. Invest your capital at your own risk.
Happy learning. Cheers!
Rajat Kumar Singh (johntradingwick)
1. Currently in the midway of the channel.
2. Getting constantly rejected from the 18500 level.
3. There are 2 big pools of liquidity on each side. 1 has SL of the SHORTS, 1 has SL of the LONGS.
4. Liquidity = Pending orders in the market. The market moves from one zone of liquidity to the other zone of liquidity.
5. The current scenario is not good from the swing perspective.
6. I am looking at the following 2 scenarios:
i) The price can either sweep below the lows and take out the SLs near 16700-16800 before moving back up.
ii) Sweep the highs near 17500-17600 and fall back to the range low near 17k.
Disclaimer: This is NOT investment advice. This post is meant for learning purposes only. Invest your capital at your own risk.
Happy learning. Cheers!
Rajat Kumar Singh (johntradingwick)
Rajat Kumar Singh,
B.Tech (Delhi Technological University)
Global Community Manager, TradingView
✅ Blog: tradingwick.in/
✅ Amorella: amorella.in/
B.Tech (Delhi Technological University)
Global Community Manager, TradingView
✅ Blog: tradingwick.in/
✅ Amorella: amorella.in/
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