AMBUJACEM Entry at 210.65
Stop-loss 215
Target 189
Risk/Reward 1: 5
Risk 1.90% Reward 10%
I'm a risk-reward maniac, and I am willing to sacrifice my accuracy over high reward. I am following Higher Time frame trends and buying pullback and selling rallies on the daily chart. So my small stop-losses are going to hit more often than my targets.
I learned in a hard way that it's not trading accuracy that matters.
It's doesn't matter how many times you are right and how many times you are wrong.
What matters is how much you lose when you are wrong and how much you gain when you are right. It's all about money in the end.
Stop-loss 215
Target 189
Risk/Reward 1: 5
Risk 1.90% Reward 10%
I'm a risk-reward maniac, and I am willing to sacrifice my accuracy over high reward. I am following Higher Time frame trends and buying pullback and selling rallies on the daily chart. So my small stop-losses are going to hit more often than my targets.
I learned in a hard way that it's not trading accuracy that matters.
It's doesn't matter how many times you are right and how many times you are wrong.
What matters is how much you lose when you are wrong and how much you gain when you are right. It's all about money in the end.
Trade active:
Ambuja Cements is in a downtrend on a weekly and monthly time frame. It has excellent support around 185-190 Zone. It has pulled back from that level in the past once in October 2018 and again in October 2019 as well.
It's visible on the weekly chart that price is forming a descending triangle chart pattern. And the price is currently trading at the resistance of downward sloping trendline.
It's visible on the weekly chart that price is forming a descending triangle chart pattern. And the price is currently trading at the resistance of downward sloping trendline.
Trade closed: stop reached
