What I am looking for is the market to continue getting rejected from the 2 red zones. This has happened on multiple occasions and if the market continues to fail to break above these zones then we want to be looking for shorting opportunities.
Trade is to short the market below the 10,527 level which is the orange dotted line.
Target for the trade will be the 10,200 level as a main target, however I will be taking profit at more immediate levels 30, 60, 90, 120, 160, 200, 250 points and then the 10,200 level which would be around 320 or so points.
Stop loss for this trade is going to be 10,635 on the short below 10,527
Trade is to short the market below the 10,527 level which is the orange dotted line.
Target for the trade will be the 10,200 level as a main target, however I will be taking profit at more immediate levels 30, 60, 90, 120, 160, 200, 250 points and then the 10,200 level which would be around 320 or so points.
Stop loss for this trade is going to be 10,635 on the short below 10,527
Comment:
Just an Update on this trade, it was triggered and produced 30 points profit where stop losses were then placed at break even. Following this, unfortunately the market went against me and the trade was stopped out at break even.
Trade closed: stop reached:
Stop was reached which was placed at break even following the target of 30 point profit being hit.
Should have outlined the BE stop loss tactics beforehand.
Apologies
Should have outlined the BE stop loss tactics beforehand.
Apologies