Trade 1: Entry at the top of Green level B after breakdown overnight below the level and retest already holding
Short Trade 12220 SL 20 pts TP1 3:1✅ stop ➡️ entry TP2 6:1✅ stop ➡️ TP1 - 3R TP3 3:1✅ - Stopped out on reversal at the wick ➡️240 pts on 3 positions ➡️80 pts per position ➡️4R/4X
Trade closed: stop reached
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Trade 2: Strong reversal at Green level F. Entry on retest at yellow shadow level of Green level F
#LongTrade 12040 SL 20 pts 🛑❌ Stopped out
Trade is taken as per the plan so nothing to worry
1st losing trade of the month
Comment
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NASDAQ worked well with the zones. However, the price action was very choppy so after losing a trade, decided to stop trading and just observing price action. Two reasons:
1⃣ Did not want to give up the gains from trades and the only winning trade of NASDAQ
2⃣ 1st Day of the month starting on a profitable note is very important for positive attitude, risk management & psychology
➡️ Overall 2 trades. 1 winning trade and 1 losing trade ➡️ 180 pts net gain on the day
I am sorry to hear that. Study the levels I have given carefully. These levels work. They should provide you a guide.
Just out of curiosity, why & when did you go long on NASDAQ at 12500. Where did you have your stop loss and what target did you have in mind?
Prahlad_N
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@TradingIndian, Hi, thanks for your reply... Unfortunately I did a mistake of not having stop loss....
I am long since Tuesday and it has been falling badly since I went long.. that's why a bit worried... Your posts have been extremely helpful. However, this trade I just did thinking it will revert to 13k.levels...
Ok. Very very detailed levels are 12 170, 220, 233, 267, 282, 297, 318, 346, 369, 383, 409, 430, 445, 476, 497 & then you B/E. So there are many steps. Right now it is showing signs of recovery. It has created a base but 12136 should not break.
I hope this helps you.
Prahlad_N
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@TradingIndian, Very detailed and on point. Thanks a lot for helping... Hoping the best... Cheers