Above shown chart is of ANTONY WASTE in Daily Time Frame
The above path of the script can be read as " Ascending Triangular Pattern " .. for simplicity, let's see it a a staircase.
This script has come this far making HH and HL .. the current step of the staircase is where we can enter into a trade.
Four things to describe for a trade
For,
Entry Point - Any price between 516 Rs to 490 Rs seems good.
Stop Loss - 478 Rs price level should be considered as SL ( will be around 7 % if EP is 515 ).
489 Rs price level is also good to place SL .. depending on appetite.
Exp. Reward - I'm expecting 10 - 15 % , which should be enough for a swing trade.
Rest depends on the scenario.
Exit - Exit depends on individual, same as SL, either you can full exit at a point or you
can trail.
Caution : As this is Budget + Election period, a low capital deployed seems sensible approach.
Thank you.
The above path of the script can be read as " Ascending Triangular Pattern " .. for simplicity, let's see it a a staircase.
This script has come this far making HH and HL .. the current step of the staircase is where we can enter into a trade.
Four things to describe for a trade
- Entry Point
- Stop Loss
- Expected Reward
- Exit
For,
Entry Point - Any price between 516 Rs to 490 Rs seems good.
Stop Loss - 478 Rs price level should be considered as SL ( will be around 7 % if EP is 515 ).
489 Rs price level is also good to place SL .. depending on appetite.
Exp. Reward - I'm expecting 10 - 15 % , which should be enough for a swing trade.
Rest depends on the scenario.
Exit - Exit depends on individual, same as SL, either you can full exit at a point or you
can trail.
Caution : As this is Budget + Election period, a low capital deployed seems sensible approach.
Thank you.
Order cancelled:
Sorry to update late, I closed this trade on the second red candle.
Thank you.
Thank you.