This will be my personal trade Setup, This is not an advice of any kind to initiate trade according to this setup.
As i was busy with some work i didn't posted my trade setup for 25-May-2023 and also didn't traded on 24-May-2023 although it was good session too. watched chart for few minutes today and closed terminal because of work today. Today on expiry day there were opportunities also if someone trade with patience. I didn't took trade today because i didn't planned anything and this was my bad habit before that i always trade if market in moving from support or resistance i took trade with out any setup or patience so that i don't miss any profits as you may know this (FOMO). Which was my reason for more losses than profits. I will post on what i am doing to improve it in separate post. This is going to be my setup for tomorrow:
Today market opened flat and there was selloff from 18265 to 18200 almost 65 points down. but in last 1 and half hour it took support at (18200) and then rise like rocket making almost all green candles without any pullbacks on 5 min TF gaining almost 100 points from day's low.
Price is forming triangle and closed near trendline resistance.
Setup for Tomorrow:
1.) If it opens flat and sustains this trendline resistance on 15 TF then i will look to buy CE for target of 18363, 18371 and 18380.
2.) If it opens gap up i will look for rejections from same targets or near by CPR and will buy PE trade for near by support levels which is 18300 as 1st support or CPR whichever will be closer.
3.) If it opens gap down 1st support is placed at 18300 level if it takes support at this level and holds for 15 to 30 minutes. I will look for buying CE.
Views are bullish so will trade cautiously if i am trading in opposite direction. As from Volume there was lot of buying buying when price was moving above today as compared to while it was selling off.
Hit like to keep me motivated for keeping my trading journal also if you can help as Trading View is holding rewards if Ideas or Script can be listed in Editor Picks :) . also one can comment how i can make it better or any improvements i can make in my trading setups or improving this journal.
As i was busy with some work i didn't posted my trade setup for 25-May-2023 and also didn't traded on 24-May-2023 although it was good session too. watched chart for few minutes today and closed terminal because of work today. Today on expiry day there were opportunities also if someone trade with patience. I didn't took trade today because i didn't planned anything and this was my bad habit before that i always trade if market in moving from support or resistance i took trade with out any setup or patience so that i don't miss any profits as you may know this (FOMO). Which was my reason for more losses than profits. I will post on what i am doing to improve it in separate post. This is going to be my setup for tomorrow:
Today market opened flat and there was selloff from 18265 to 18200 almost 65 points down. but in last 1 and half hour it took support at (18200) and then rise like rocket making almost all green candles without any pullbacks on 5 min TF gaining almost 100 points from day's low.
Price is forming triangle and closed near trendline resistance.
Setup for Tomorrow:
1.) If it opens flat and sustains this trendline resistance on 15 TF then i will look to buy CE for target of 18363, 18371 and 18380.
2.) If it opens gap up i will look for rejections from same targets or near by CPR and will buy PE trade for near by support levels which is 18300 as 1st support or CPR whichever will be closer.
3.) If it opens gap down 1st support is placed at 18300 level if it takes support at this level and holds for 15 to 30 minutes. I will look for buying CE.
Views are bullish so will trade cautiously if i am trading in opposite direction. As from Volume there was lot of buying buying when price was moving above today as compared to while it was selling off.
Hit like to keep me motivated for keeping my trading journal also if you can help as Trading View is holding rewards if Ideas or Script can be listed in Editor Picks :) . also one can comment how i can make it better or any improvements i can make in my trading setups or improving this journal.
Trade closed: target reached:
Bought once it broke the resistance of 18363 and trailed the stop loss