Hey, As a beginner in Options Buying, I wanted to know, what are your confirmations for a “near” perfect entry?
I will start with mine, I just follow pure price action and few indicators(RSI and certain EMA), and based on that,
FIRST HALF ENTRY.
1. IF THE MARKET HAS BEEN SIDEWAYS FOR COUPLE DAYS, THEN A MOVE COULD OCCUR ( high probability)
2. BETWEEN 9:15 TO 10, CHECK THE TREND
3. IF ITS NEAR CRUCIAL S/R LEVELS BY 10:30 ish, WAIT FOR THE BREAK IN EITHER DIRECTION
SECOND HALF ENTRY
1. IF MARKET WAS SIDEWAYS FOR THE PAST FEW DAYS, AND IN THE FIRST HAL, THEN HIGH PROBABILITY THAT SOMETHING HAPPENS IN SECOND HALF
2.LOOK OUT FOR SELLING INCASE THERE WAS HEAVY BUYING IN FIRST HALF…
i) ONLY TRADE IF YOU HAVE SEEN MINIMUM 2 CANDLES WITH GREAT STRENGTH AND VOLUME IN 5 MINS CHART