Breakout in any direction will active our trade.
We have a rejection zone around the 36-37 level where stock is facing resistance.
We can play the channel by buying near the lower trend line & selling around the upper trendline.
or We can wait for a breakout in any of the directions & trade that.
I will update the levels once the trend line is breached.
We have a rejection zone around the 36-37 level where stock is facing resistance.
We can play the channel by buying near the lower trend line & selling around the upper trendline.
or We can wait for a breakout in any of the directions & trade that.
I will update the levels once the trend line is breached.
Trade active:
Chart Update - Stock opened gap up & stayed in our rejection zone throughout the day. Tried breaching that zone by day's end, hit our upper channel and closed back in.
We can trade the channel for now. By selling around the top with SL few points above the channel & trail it till rejection zone & then the lower channel.
We can trade the channel for now. By selling around the top with SL few points above the channel & trail it till rejection zone & then the lower channel.