Taps on DP

A Pattern, I have observed many times & am using it is TAPS on DP. Its coming frequently in Nifty nowadays. The criteria, i look for is:-
1) A Range Formation between 2 DPs.
2) Price starts knocking at one of the DPs (>2 times). The more the knocks, the better.
3) HL or LH formations as per the BO requirement. If the Taps are on DP above you, see for HL requirements & LH for Taps on DP below you.  A TRAP pattern will be an added advantage !!
4) Tails on that DP are better (For me, Tags on BB are equivalent).
5) Enter Above/ below the DP on BO of Candle Tail.
I will give few examples without BB from recent days..

a) See a Range marked with 2 DPs. We would have exited in this range having no position. Now, Price started making LH & tails on lower DP. Knocking started. Nearly 5 Taps on DP. A BO was evident in this case  & we can enter with confidence.

b) A Big Range formation. HL formation in Price in the range. Although a BOF in the starting, we would have exited earlier. 4 Taps on DP. we can go long on BO of upper DP.

c) A nice range after BOF, which would have made us out. Nice Taps (3 ~4) on upper DP. An entry on BO was a nice one !!

All these are recent charts of last week. hope you enjoyed..

Bollinger Bands (BB) - Hammer/ Stars

15 min BB & Hammer, A Big thing for me..

I Like simple things. The thing which have worked 80% of time for me is a Hammer on BB, but the BB should be either on 15 min chart for Intraday or on Weekly chart for Positional trading.
15 min time frame (TF) is what i also keep an eye on in addition to 5 min TF. If I will choose a single rule for Day trading, this is it for me..

But few Ground rules -
1) Context must be Favourable, at least not opposite.
2) It should be a Tag on BB.
3) Hammer only needs to look like hammer, no criterion for 2/3rd close etc. It should just display that Buyers/ Sellers have got active.
4) Colour of Hammer Matters to set Entry & Targets.
5) Do look for Space/ Fluids.

Addons :
1) If  > 1 hammer spotted, Better !!
2) Lesser the number of candles on Left side of Hammer, Better !!
3) If Coincides with DP, Better !!

SL -  2~4 pts below hammer/ any pivot
Exit - As per your rules. My favourite is a Tag on opposite BB in 5 min.

Entry -
1) on Break of Hammer High/ Low
2) If retraced before breaking Hi/Lo, wait till it touches 50% of Hammer, then enter at any Bullish/ Bearish candle.

Now lets see how it looks with examples:-
1) Today's Inverted Hammer coincided with BOF in 5 min. Could be entered at 50%

2) Few days back - 2 Trades with good signals for Intraday

3) Hammers & that too twice on LBB, then a Star on UBB

4) Weekly Chart- Star on LBB , then 2 Hammers, then a Hammer worked. A Star on UBB that didn't work (See, too many candles on left side of Star).

Now Grab some charts & enjoy the weekend. 

Remember, Nothing works 100% &  Not the Car, but Driver wins the Race !!