In correlation with the previous Hindustan Aeronautics Ltd post, here are the latest insights for riding the upcoming bear trend:
1. Currently, we are in a crucial 1-hour Key Supply Zone.
2. Typically, supply zones result in rejection. To confirm its effectiveness, we need to observe the 1-hour CHOCH/BOS. Alternatively, we can rely on 1-hour candle closes below the 9 EMA, but with tight stop losses. Keep in mind that the CHOCH/BOS has a higher success rate. You can adjust your stop loss above this level based on your risk management strategy.
3. Personally, I prefer riding the one-minute CHOCH/BOS with stop losses based on the respective Supply & Demand zones. However, this approach is risky without professional guidance. Feel free to ask for dynamic stop loss and target information in the comments or other platforms that suit your convenience.
4. As discussed in the previous post, the key breakout has changed due to recent trading activity. Although the current move may not be as smooth, the bears remain still dominant. I will provide updates on the new key breakout to capture a 12.7% bearish move. For now, focus on the current situation.
5. Exit strategy: If you notice a one-hour candle closing above the red supply zone shown in the picture, it is advisable to exit. However, such a scenario seems unlikely at the moment.
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Entry criteria did not full fill and market dynamics are completely changed now, wait for the updated post for HAL