MRF Trend Based Fibonacci Extensions (Daily And Weekly)

Step-by-Step Approach

1. Analyze Structure First

• Check for market structure: Higher Highs (HH), Higher Lows (HL), Lower Highs (LH), and Lower Lows (LL).
  
• Only proceed if price action aligns with your desired trade direction.
  
  2. Use Demand Zone for Buys
• Watch for entries near 142,181.45 and 140,138.35 (Fibonacci 0.236–0.186, Daily Support).
  
• Enter long only if price structure shows reversal signs or supports form near these zones.
  
  3. Use Supply Zone for Sells/Profit Booking
• Look for exits or short setups around 164,655.40–166,698.50 (daily supply) or 172,821.45–177,158.70 (weekly supply).
  
• If in a long, consider booking profits as price approaches these resistance/supply levels
  
  4. Confirm with Structure
• Never trade just based on level; confirm with HH/HL (trend up, buy support) or LH/LL (trend down, sell resistance).
  
• Wait for bullish patterns at demand or bearish patterns at supply for confirmation.
  
  5. Monitor Key Mid-Levels
  Watch 148,012.65 (weekly mid) and 152,968.95 (daily mid) for interim reactions during moves (Which makes the sense of discount and Premium Zone)
  
  6. Manage Risk
• Set stop-loss just beyond demand/supply zones.
  
• Adjust position size to volatility and risk/reward.
  
  7. Review Regularly
• Reassess price action after each key level interaction.
  
• Modify bias if structure shifts (from uptrend to downtrend or vice versa).
  
• Following these rules keeps trading logic clear and helps avoid impulsive entries or exits.
  
  Disclaimer:lnkd.in/gJJDnvn2