[NAVEEVIa]

The Plan

Setup

1. Reversal
a. Distribution /Accumulation with lower high/higher low. Lots of volume with no price movement.

Checklist
a.1 Potl. BC/SC should not occur in a trending market
a.2 Support/Resistance, trendlines should be broken on closing basis

b. Price advancing/declining on very low volume with lower high/higher low formed & confirmed with lower low/higher high Higher high/Lower low on very low volume (Buying/Selling exhaustion). Failure to breach high/low.

Trading Toolbox

1. Demand/Supply- what phase is the market in?
2. Trendlines, Demand/Supply lines
3. Support/Resistance ( Both intraday & before the open)
4. Price (Volume).
5. Refer lower timeframe chart for volume flow.

Exits

1. Break of trend line
2. Lessening of momentum( trend lines fanning out).
3. Buying/Selling climax.
4. Higher low or lower high formed.


Money Management

Position size with 2% risk on trade, take next trade after moving stop to breakeven.
Stop trading for the day at 2% loss

[NAVEEVIa]

All stocks are actively traded indian equities

[NAVEEVIa]

Plan not followed.
Rule no. 1 now is to stop trading after 2% loss .
Here are the trades

[NAVEEVIa]

Questions
1. How to identify a swing point in real time?
I can think of only one method that aswing point will usually be accompanied by a volume peak.

[NAVEEVIa]