Indrazith Shantharaj

Indrazith Shantharaj

30-09-2022

16:39

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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