Many traders avoid trading when the market trades sideways (rangebound). And that’s because it’s hard to find good trading opportunities in such conditions.
But in reality, rangebound trends present excellent trading opportunities for those who know how to deal with them. And to become a consistently profitable trader, one should have a perfect method to trade the rangebound trends.
So, let’s have a look at today’s Nifty Intraday 05-minute chart, which was first trading sideways. And then it offered an excellent short-trade opportunity.
Today, the Nifty opened with a huge gap-down, and then it started trading sideways (rangebound). And that was the perfect opportunity to use that sideways structure to find the breakout trade for the day.
And the same happened. That sideways structure (which happened) after the market opening (see green oval) gave a solid signal for the sell trade around 12:00 pm (see black oval). And from the sell signal point market fell 100 points.
So, how we use that sell signal for intraday trade? I went long in the Nifty May Expiry 15800 PE (Monthly Expiry Option) with FOUR lots, and that trade ended up in 7140 INR profit. Below is the screenshot for that trade.
So, that’s how one can easily find and trade the sideways trends that offer excellent trading opportunities. Well, the same technique works for swing trading as well.
And luckily, now you can access this unique trading technique, which I call the ‘Rangebound trends’ method. In which you will learn a totally unusual way to locate and then use that rangebound structure of the markets that most Gann traders don’t know.
So, don’t miss the opportunity to learn this simple and highly powerful trading concept of rangebound structures. You can mail me here to know more about the course.