Good morning,
All the levels and key ideas mentioned on the chart itself.
When the market opens today wait for confirmations. Don't take random trades with high SL's.
Yesterday I read something like major institutions are short on market. So keep that in mind
-->No trade until nifty touches any of the two lines (17280) on the upside and (17140) on the down side.
-->Suppose say it is near 17140 what should be your plan of action?
-->Mainly two outcomes are possible, market breaking that level market taking support from that level.(Be Aware of false breakouts also)
-->Go to 5min time frame and look at price action near that support line.
-->Big green candles, breaking previous lower highs will be signs of intraday reversal then you can plan buying with day high levels as targets
-->Breaking that 17140 levels with Big red candles and staying for more than 15 mins there will be signs of falling then we can short market there.
-->Same logic applies when the market is at 17280 levels.
-->Keep small SL's
*SECURING THE TRADE AND PROTECTING THE CAPITAL SHOULD BE YOUR FIRST PRIORITY.
*NOT A SUGGESTION VIEWS ARE FOR EDUCATIONAL PURPOSES.
All the levels and key ideas mentioned on the chart itself.
When the market opens today wait for confirmations. Don't take random trades with high SL's.
Yesterday I read something like major institutions are short on market. So keep that in mind
-->No trade until nifty touches any of the two lines (17280) on the upside and (17140) on the down side.
-->Suppose say it is near 17140 what should be your plan of action?
-->Mainly two outcomes are possible, market breaking that level market taking support from that level.(Be Aware of false breakouts also)
-->Go to 5min time frame and look at price action near that support line.
-->Big green candles, breaking previous lower highs will be signs of intraday reversal then you can plan buying with day high levels as targets
-->Breaking that 17140 levels with Big red candles and staying for more than 15 mins there will be signs of falling then we can short market there.
-->Same logic applies when the market is at 17280 levels.
-->Keep small SL's
*SECURING THE TRADE AND PROTECTING THE CAPITAL SHOULD BE YOUR FIRST PRIORITY.
*NOT A SUGGESTION VIEWS ARE FOR EDUCATIONAL PURPOSES.
Comentarios:
5m candle closing above 17172 will be a add on confirmation
Comentarios:
Now 114 rs achieved 1:1 RR
Shouldn't be a loss now.
Shouldn't be a loss now.
SL 74